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WAM Active Limited (WAA) provides investors with the opportunity to invest in a company with a very actively managed portfolio of investments. The investment objectives are to deliver investors a growing stream of fully franked dividends and to preserve capital in both the short term and long term.
| Quick Facts as at 31 January 2012 |
| Fund Size (millions) |
$17.6m |
| Net Assets per share (before tax) |
$1.08 |
| Share price as at 23 Feb 2012 01:53 PM |
$1.04 |
| Current Equity Exposure |
56.2% |
| Fully Franked annualised interim dividend (cents per share) |
9.0 |
| Current fully franked annualised dividend yield |
8.65% |
Annualised Perfomance
as at 31 January 2012 |
1 Mth
% |
6 Mths
% |
Fin YTD
% |
1 Year
% |
2 Years
%
p.a. |
3 Yrs %
p.a. |
Since Inception
(Jan-08)
% p.a. |
| WAM Active Limited * |
+1.0% |
+1.3% |
+1.3% |
-0.1% |
+5.4% |
+20.5% |
+11.4% |
| S&P/ASX All Ordinaries Accumulation Index |
+5.2% |
-1.6% |
-4.9% |
-6.9% |
+1.1% |
+12.2% |
-5.3% |
| Outperformance |
-4.2% |
+2.9% |
+6.2% |
+6.8% |
+4.3% |
+8.3% |
+16.7% |
* The change in the portfolio before all expenses, fees and taxes
| Top 10 Holdings as at 31 January 2012 |
|
CCQ
|
Contango Capital Partners Ltd
|
3.0%
|
CGF |
Challenger Ltd |
2.0%
|
|
BHP
|
BHP Ltd
|
2.7%
|
TOL |
Toll Holdings Ltd |
2.0%
|
|
MSF
|
Maryborough Sugar Factory Ltd
|
2.4%
|
RIO |
Rio Tinto Ltd |
1.9%
|
| SDG |
Sunland Group Ltd |
2.2%
|
RHG |
RHG Ltd |
1.9%
|
| LEI |
Leighton Holdings Ltd |
2.0%
|
EPX |
Ethane Pipeline Income Fund |
1.8%
|
Investment Strategy
To achieve our investment objectives, we take advantage of relative short term arbitrages and mispricing in the Australian equities market, rather than investing in any individual companies or portfolio of companies for a prolonged period of time. This is referred to as our "Market Driven"process.
- Participating in initial public offerings, placements, rights issues and underwritings where the immediate valuation upside appears favourable;
- Participating in block trades which are below normal market values;
- Participating in takeovers, mergers, schemes of arrangements and corporate spin-offs which appear favourably priced;
- Trading oversold positions;
- Short selling and option trading opportunities;
- Taking advantage of Listed Investment Company discount arbitrages
- Trading market trends and themes; and
- Trading opportunities which will deliver acceptable risk adjusted return.