WAM Global Limited
Highest exposure to USA stocks: WAM Global Limited (ASX:WGB), a listed investment company which is launched and managed by Wilson Asset Management (International) Pty Limited. The firm invests in the value stocks of companies listed in public equity markets across the globe. WGB is based in Sydney, Australia and has invested in companies like American Express Company of USA, Daikin Industries Limited from Japan, Reckitt Benckiser Group Plc from UK, Vivendi SA from France etc. The company is deploying the funds raised through an IPO. The group has 35.6% of the investment portfolio in cash; and in August 2018, WGB’s Pre-tax net tangible assets amounted to $2.25 with gross assets of $470.4m. WGB has the highest exposure in USA (33.6%), followed by France (5.8%) and Japan (5.3%). In August, WGB’s portfolio benefitted from the strength in the USD, which rose 3.4% against the AUD during the August month. The group is trying to engage investee companies’ management teams across US and Europe for future prospects. Meanwhile, WGB stock has fallen 0.45% in one month as on September 21, 2018.
Evans & Partners Australian Flagship Fund
NTA grew 2.5% in August: Evans & Partners Australian Flagship Fund (ASX:EFF), a listed investment trust formed in Australia, benchmarks itself relative to the higher of S&P/ASX200 Accumulation Index and the RBA Cash Rate. As at the close of business on 14 September 2018, the unaudited estimate of the Net Tangible Assets (NTA) per unit of EFF was $1.59. EFF has the highest exposure in Financials sector, followed by Information Technology and Materials. EFF has a cash exposure of 4.7%. EFF got listed recently, and NTA grew 2.5% in August compared to 1.4% return from S&P/ASX 200 Accumulation Index, and since inception NTA has given the return of 5.2%. There has been an uplift of 1.3% in unit price since inception. Meanwhile EFF stock has risen 0.62% in one month as on September 21, 2018.
Fund Performance for August 2018 (Source: Company Reports)
Gryphon Capital Income Trust
Delivered return of 0.31% in August: Gryphon Capital Income Trust (ASX: GCI), an Australian-based close-ended fund, invests in a diversified portfolio of securitized fixed income bonds, dominated by institutional investors. The target return is the RBA cash rate +3.50% p.a. The fund invests in Residential Mortgage Backed Securities (RMBS) and Asset Backed Securities(ABS). GCI has declared the dividend of AUD 0.0074, payable on October 9, 2018. GCI in August 2018 has given the return of 0.31% and since inception (ann) gave the return of 2.9%. Moreover, GCI reported for new issue transactions in three Residential Mortgage Backed Security and two Asset Backed Security priced totaling A$3.45 billion in August. GCI participated in two of the RMBS new issues and was also active sourcing suitable investments in secondary markets. In total, GCI invested approximately 17% of the NAV during August. The balance of the NAV is invested in a Liquidity portfolio which will be recycled into higher yielding RMBS and ABS (Core portfolio) as opportunities arise. The blend of the Core holdings (72%) and Liquidity portfolio (28%) is generating a net running yield of approximately 4.48% p.a. in August. Meanwhile, GCI stock has fallen 1% in one month as on September 21, 2018.
L1 Long Short Fund Limited
LSF delivered negative returns: L1 Long Short Fund Limited (ASX:LSF) provides the investors access to an absolute return fund with long and short positions and focuses on Australian and New Zealand securities, with up to 30% invested in global securities. LSF for August gave the return of -5.3% and -14.9% total return since inception. The Company’s performance was adversely affected due to a high number of left-field stock events during August, most of which the company expects to reverse in due course. Therefore, LSF stock has fallen 7.5% in one month as on September 21, 2018.
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