Geoff Wilson triples profits amid franking credits crusade
Summary
"We’ve made a number of successful acquisitions and we raised $466 million for [newly-listed investment company] WAM Global. But Mr Wilson said the lacklustre form was due to a temporary misreading of the macro tea leaves, and that WAM Capital is currently outperforming the S &P/ASX 200 once again. "At the latter part of last year we were super bearish, and we went to 52 per cent cash because we were concerned about quantitative tightening and where the Fed was going in the US," he said. Asked whether the increased profile and free marketing kick of leading an advocacy campaign that benefits his core constituency would lead him down the path of launching an unlisted fund, the longstanding LIC champion admitted hed considered it. Though he ruled out taking an unlisted fund to market, Mr Wilson said the WAM entities would continue to be hungry for acquisitions in the 2020 financial year, particularly in its own LIC backyard.