Having a bad month in the markets? Well, some of the country’s best known fund managers have been penalised by investors. Regal is notable. Their Atlantic Absolute Return fund is down 35% in March alone. The head stock is down 50% ytd, 2025.
On the topic of LICs, the WAM Income Maximiser initial public offering from Wilson Asset – the AFR reports that Wilson Asset brought in roughly $150 million for its new ASX-listed vehicle – a valiant effort considering the bookbuild collided with a 14% decline in the S&P/ASX 200 from peak to trough and Trump’s trade chaos, but a far cry from the $510 million target sought in the prospectus. If Geoff Wilson can’t get a successful IPO off, probably no one can!
LICATs Weekly Summary.
| Name | Code | Closing Price | Running Yield | NTA | Premium/(discount) to NTA | Market Capitalisation (millions) | Average Daily ASX turnover (000s) |
|---|---|---|---|---|---|---|---|
| Acorn Capital Investment Fund | ACQ | 0.745 | 0.08 | 1.10 | -0.32 | 66.53 | 56 |
| Glennon Small Companies | GC1 | 0.47 | 0.07 | 0.79 | -0.40 | 22.68 | 31 |
| Katana Capital | KAT | 1.175 | 0.02 | 1.34 | -0.12 | 36.44 | 7 |
| KKR Credit Income Fund | KKC | 2.23 | 0.09 | 2.46 | -0.10 | 719.25 | 431 |
| MCP Income Opportunities Trust | MOT | 1.995 | 0.08 | 2.15 | -0.07 | 663.23 | 397 |
| MCP Master Trust | MXT | 2 | 0.08 | 2.01 | 0.00 | 2127.36 | 1087 |
| Perpetual Credit Income Trust | PCI | 1.155 | 0.08 | 1.11 | 0.05 | 561.89 | 505 |
| Qualitas Real Estate Income Fund | QRI | 1.62 | 0.08 | 1.61 | 0.01 | 985.65 | 283 |
| WAM Alternative Assets | WMA | 0.97 | 0.08 | 1.19 | -0.19 | 190.29 | 209 |
Closing price as at end of week.