I've lost track of a few things as there have been some portfolio changes that we haven't seen confirmed yet, but here's my stab at Nov 3oth NTA.... $2.48 - $2.49 after the BIG currency tailwind. Should be outperformance vs benchmark this month. At $2.22 current SP we're still at a ~10% discount.
Few caveats & notes as usual...
- Haven't got clarity on Top 20, as ETO & Bandai Namco have been exited. These sales should have topped up the Profits & Franking credit reserves, so i reckon we're on track for a strong increase in Divvies announced in Feb with the HY report. I'm guessing as an increase on the maiden 2c div + a special div.
- Subbed in DB1 & NOMD (previously in T20) until we get confirmation of new entries into T20. Expecting one of these will actually be Biffa Group (BIFF.L) - a UK Listed waste management Co.
- I equal-weighted the Top 20 (cause position sizing hasn't been disclosed in a while, and it doesn't impact as much anyway due to more smaller positions)
- No adjustments for currency in the workings
I had a chat with Nic Healy (WGB Analyst) at the recent shareholder preso's - impressive young guy and a very level head. All things considered I'm very pleased with WGB as a core international holding (particularly at the present discount). A really sensible mix of growth and defensive positioning, and I look forward to further closing of the NTA to share price gap with continued performance.
WGB Price at posting:
$2.22 Sentiment: Buy Disclosure: Held
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