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18 Aug 2023
WAM Research Limited (ASX: WAX) Review
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WAM Research Limited (ASX: WAX) Review
WAM Research Ltd. (WAX:ASX) | 0 0 0.3% | Mkt Cap: 294.9m
- Published:
18 Aug 2023 -
Author:
Independent Research -
Pages:
24
WAM Research Limited (ASX: WAX) is a listed investment company (LIC) that listed on the ASX in August 2003, raising $150 million through the issue of 150 million fully paid ordinary shares at $1.00 per share. The Company provides exposure to an actively managed portfolio of ASX-listed undervalued growth companies. The Company can invest in stocks of any size, however the focus of the Company is typically on mid and small cap industrial companies. The portfolio is managed by MAM Pty Ltd (the “Manager”), which forms part of the Wilson Asset Management Group, which is comprised of the Manager and Wilson Asset Management (International) Pty Limited. The Company has two primary objectives: (1) achieve a high real rate of return, comprising both income and capital growth, within acceptable risk parameters to the Directors; and (2) deliver a fully franked dividend stream. The Company seeks to achieve these objectives through the investment in a portfolio of predominantly ASX- listed securities using the Manager’s proprietary Research-Driven
investment process, which is focused on identifying undervalued companies. Exposure will be primarily long, however the Manager has the ability to invest in warrants and options to sell permitted investments (ie. short stocks). The mandate is flexible with no stock or sector limitations and no limitations on the amount of cash that can be held.