WAM Global IPO lead by Catriona Burns

May 11, 2018 | ASX Equities News, Upcoming IPO's

The WAM Global IPO lead by Catriona Burns aims to provide capital growth over the medium to long term and deliver a stream of fully franked dividends whilst still preserving capital by investing in a diversified portfolio of undervalued growth companies. The Fund aims to outperform its benchmark, the MSCI World Index Net (AUD) over the medium term (over five years).

To apply for shares in WAM Global or receive a copy of the WAM Global prospectus please register your interest further below.

Wilson Asset Management

Wilson Asset Management has over 20 years’ experience in successfully managing Australian equities and operating the listed investment company (LIC) structure. WAM has a proven investment process which has been successfully applied to Australian equities, with the manager looking to replicate this success in global equities. WAM already operates six other LICs with most of them trading at a premium to NTA.

Wilson Asset Management NTA for CYA, WAA, WAM, WAX, WMI and WLE

Investment Philosophy & Style

The Fund’s philosophy is based identifying undervalued international companies with growth opportunities, with a bias to small-to-medium sized companies. The fund follows both a research driven and market driven investment process. The research driven investment process focuses on rating each company with respect to its valuation, management quality and industry position by taking into consideration its earnings growth potential. The market driven investment process aims to take advantage of any short-term arbitrage or mispricing in global equity markets.

WAM does not yet have a track record running a global fund yet believes WAM Capital is the most comparable is they are intending to replicate their propriety investment philosophy. Geoff Wilson who is investing just over $5m personally in the fund mentions that investors have been asking for a global fund for many years and that they have been waiting for the right portfolio manager to come along.


Investment Strategy

Below we describe key components of the firm’s investment process screen. The WAM investment team screens the investment universe for value and growth, by filtering out those that do not represent growth or value characteristics.


The Manager uses both research-driven and market-driven investment research to rate such companies on both quantitative and qualitative abilities to achieve growth in the medium term.

Research driven investment process

The research-driven investment process focuses on extensive company research, including meetings with senior executives of the potential investee companies to compile ratings on each company with respect to management, earning growth potential, valuation and industry position. This process is very consistent and standard with a true bottom up, fundamental Fund Manager.

Market driven investment process

The market-driven investment process takes advantage of short term mispricing opportunities in the global equity market rather than in any individual companies or a portfolio of companies for a prolonged period of time.


The Manager will only invest in a security identified in the research driven investment process if there is a catalyst which has not been factored into the value of the security which is likely to increase the market’s valuation of that security. Such catalysts include information or news about the investment that the Investment Manager believes will have an impact on the valuation of the investment.


Once the security has reached its valuation determined by the Manager, they will reduce or exit the position and hold cash waiting for further opportunities.

No limit on cash holding

WAM Global has no limit on the cash holding which they believe provides capital protection in time of uncertainty and funds for opportunities when presented. Historically WAM Capital has held 39% cash over the ten-year period highlighted below. With a high historical cash weighting, WAM Capital has delivered out-performance since inception.

WAM Capital Cash Holdings WAM Global

Investment Team & Key Investment Staff

The WAM Investment Team consists of 10 of highly experienced investment professionals, portfolio managers, and quantitative analysts that work together and aim to deliver attractive returns for investors. Below we have summarized their bios for quick reference.

Catriona Burns, Lead Portfolio

Manager Catriona has more than 14 years of investment experience, with five of those years focused on global equities. She holds a Bachelor of Commerce (Liberal Studies) as well as a Master of Applied Finance and has also completed the CFA program. Catriona began her funds management career at WAM before moving around in positions at Hunter Hall Investment Management and Airlie Funds Management.

Nick Healy, Global Equity Analyst

With a background in mechanical engineering, Nick completed his Master’s in Business Administration from INSEAD. His career as an investment analyst began at Fidelity International in the United States, where he covered US industrial companies for three years.

Geoff Wilson, Chairman and Portfolio Manager

As the Chairman of a multitude of WAM funds and the Founder of Wilson Asset Management, Geoff has over 37 years of experience in domestic and global investment markets. Geoff has also had success with one of the first listed wealth creation vehicles, Future Generation Investment Company at which he still holds a director position.


Chris Stott, Chief Investment Officer and Portfolio Manager

Chris has over 14 years of experience in funds management after being in various research roles specializing in Australian equities at Challenger Financial Services Group. Chris is also a Director and Portfolio Manager of various other WAM funds.

Matthew Haupt, Portfolio Manager

Prior to his position at WAM, Matthew worked at Australian Executor Trustees (now part of IOOF) and has over 11 years of experience in the investment industry working as both a portfolio manager and analyst. Matthew is also a CFA charterholder, with a B.Comm and Graduate Diploma in Applied Finance.

Martin Hickson, Portfolio Manager

Martin Hickson is a Portfolio Manager at WAM and leads the market driven investment process. He has more than nine years’ experience in the funds management industry and joined WAM after working with Challenger Financial Services Group within funds management.

Oscar Oberg, Portfolio Manager

After working at Grant Thornton in transaction advisory services and in sell-side research at CLFA, Oscar joined WAM with over 10 years of experience in financial markets. Oscar holds a CFA charter, and is a B.Bus/LLB graduate.

Tobias Yao, Senior Equity Analyst

Tobias has held positions at EY and Penanga Capital with over nine years’ experience in the investment industry, focusing on Asian and Australian equity investments. Tobias is a B.Comm graduate and a CFA charterholder.

John Ayoub, Senior Equity Analyst

Following his career as a corporate lawyer, John has held positions at Credit Suisse and Ord Minnett. With over ten years of industry experience, John has experience with both large and small caps. Remuneration. The Company’s non-executive directors will be entitled to Director fees up to $155,000 per annum.

How to apply for shares in the WAM Global IPO

To apply for shares in the offer or receive a copy of the prospectus, please register your details below.

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