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Respected fund manager Wilson Asset Management (WAM) has recently identified two ASX shares that it owns in its portfolio.
WAM operates several listed investment companies (LICs). Some focus on larger companies like
WAM Leaders Ltd (ASX: WLE) and
There’s also one called
WAM Capital Limited (ASX: WAM) which targets “the most compelling undervalued growth opportunities in the Australian market.”
The WAM Capital portfolio has delivered an investment return of 16.5% per annum since inception in August 1999, before fees, expenses and taxes. This gross return outperformed the S&P/ASX All Ordinaries Accumulation Index return of 8.6% per annum over the same timeframe.
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April 28 (Reuters) - Australian shares edged higher on Wednesday as energy stocks rose tracking an uptick in oil prices, though losses in gold and technology capped gains.
The S&P/ASX 200 index rose 0.11% to 7,041.5 points by 0027 GMT.
The top percentage gainer on the benchmark index was Ansell Ltd, rising 5.1% after projecting strong sales growth for the half year and full year.
The top percentage losers on the index were St Barbara Ltd , with a 7.6% fall, and JB Hi-Fi Ltd, losing 3.9%, as both companies reported disappointing earnings for the quarter.
Shares of Bingo Industries Ltd were the most traded by volume for the second day in a row, after it said on Tuesday it would be bought by funds managed by Macquarie Group for $1.8 billion.
Losses in gold, iron ore miners limit gains on ASX NZX50 rose 0.2%
April 28 (Reuters) - Australian shares snapped a two-day losing streak to close higher on Wednesday as mild quarterly data showed a paucity of inflation and doused investor concerns over a sooner-than-expected interest rate hike.
The S&P/ASX 200 index rose 0.44% to close trade at 7,064.7 points, with strength in financials and energy stocks pushing the benchmark near a 14-month high.
Australian Bureau of Statistics reported lower-than-expected inflation for the March quarter. The consumer price index rose a modest 0.6% over the first three months of the year, short of the 0.9% consensus forecast.