PWG is a business I’m accumulating for some fundamental...

PWG is a business I’m accumulating for some fundamental reasons.

Its business model.
- Model is somewhat of a franchise concept that it leverages off OPM/funds to control a huge range of valuable assets with actually quite little equity.
The model allows them to scale rapidly while having little to zero risk, and effectively no debt.

The recent purchase of cornerstone investment in the funds that fund PWG assets purchases locks in that feeder market for them too.

Asset Portfolio.
- I love the bias towards WA currently as I believe WA will become the new “Singapore” but it also holds AAA assets in commercial, essential needs such as agricultural land. It’s very well diversified.

Management Team.
- Exceptionally managed and they also have skin in the game.

Thanks for listening