The Fund would be managed by H&G Investment Management Ltd. managed by Hancock & Gore. The manager has operated an unlisted mutual fund (now renamed the H&G High Conviction Fund) since November 2007 and has produced an annualized return of more than 8% versus the S&P/ASX Small Ords Accumulation Index at 0.4% over the same period.
H&G, itself listed on the ASX and managed by Sandy Beard, has hired Morgans as lead manager. The broker was ordered to raise $20 million with the option to accept an additional $10 million in oversubscriptions. Presentations are scheduled to begin next week.
It should be listed on September 22nd.
It’s the first new LIC to cross Street Talk’s desk since Geoff Wilson’s WAM Strategic Value and Salter Brothers Emerging Companies Ltd went public last June.
Comments are closed.