wilson investment fund , page-2

You to can buy a $1.29.5 for $1.16 sonnds like a good solid investment.Should pay a nice div soon.
Cheers phil.


WILSON INVESTMENT FUND LIMITED
(ACN 100 504 541)
WILSON INVESTMENT FUND LTD (WIL) – JULY 2007
INVESTMENT UPDATE & NTA
In July WIL’s gross portfolio (before all fees, costs and taxes) decreased by 0.18%, while the
All Ordinaries Accumulation Index fell by 1.94%.
The NTA before tax as at 31 July 2007 was 140.92 cents per share. The NTA after tax on
realised gains and before tax on unrealised gains as at 31 July 2007 was 140.92 cents per
share.
WIL is a long-term investor and does not intend disposing of its total portfolio. If estimated
tax on unrealised portfolio gains were to be deducted, the above figure would be 129.22 cents
per share.
NTA before tax 140.92c*
NTA after tax and before tax on unrealised gains 140.92c
NTA after tax (including unrealised gains tax) 129.22c
* This is after the provision of $121,408 (0.1 cent per share) in tax to be paid for the 2006/07 year.
MARKET OUTLOOK
The Australian sharemarket fell slightly in July following a slight decline in June. This was the
first consecutive monthly fall since April 2005. The current decline accelerated dramatically in
the last week in July as concerns about the US debt market spilled over into equities.
The US debt market, particularly the lowly rated and unrated segment, has suffered a severe
correction in recent weeks. In essence, the lenders of the debt have decided to reprice this
lower quality debt back to levels it has historically traded at. This has resulted in many highly
geared individuals and funds running into trouble.
For equities, it has also resulted in a reality check with investors deciding that the prices being
paid for stocks are high and need to be adjusted down. This can also be seen as a move to
adjust for risk.
We view these changes as positive, however, we remain cautious in the short term. We hope
this current situation may result in good companies, with solid growth profiles, becoming
acceptably priced.
PORTFOLIO STRUCTURE
As at 30 June 2007
As at 3 1 July 2007
Investment Type $m %
$m %
Listed Equities 143.88 83.80%
145.37 84.84%
Listed Hybrids 14.95 8.71%
14.97 8.74%
Fixed Interest and Cash 12.86 7.49%
11.01 6.42%
Total Assets 171.69 100.00%
171.35 100.00%
No.
No.
Total no. of ord shares on issue 120,955,444
120,955,444
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