Loss-protection offer hits target
WDE is designed to offer investors exposure to the long-term returns of the Australian sharemarket, while removing much of the risk with a “dynamic protection matrix”.
It says it will protect by 50% against market downturns by actively managing allocations between equities, derivative protection and cash through market cycles. It focuses on protecting the “most likely loss” range of the investment portfolio.
It will be an ASX-listed investment company investing predominantly in ASX-listed entities, as well as derivative and cash. The manager is Perennial Value Management.
WDE had sought to raise a minimum A$50 million and a maximum A$160 million under its offer, converting to shares upon listing. Each IPO shareholder receives loyalty options on a one-for-one basis which vest after six months and are exercisable at $1 over the subsequent 12 months.
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