PM Capital initiates $100m capital raise
PM Capital has initiated a $100 million capital raising aimed at providing liquidity and growing assets within the PM Capital Global Opportunities Fund Limited.
In doing so, PM Capital provided forward dividend guidance within which it reaffirmed its intention to deliver a minimum 10 cents per share fully franked in respect of Financial Year 2024 and an intention to deliver a minimum of 10 cents per share fully franked in Financial Year 2025.
It said it had been able to provide the guidance because the investment manager had delivered a portfolio return of 24.5% for Financial Year 2024.
The company’s capital raising is aiming at raising approximately $100 million via the issue of around 45.7 million shares with the offer targeting wholesale and sophisticated investors.
It said the offer price of $2.19 per new share represents a 6.4% discount to the last traded price of $2.34.
The company says the aim of the fund is to create long-term wealth through a concentrated portfolio of 25 to 45 global companies that are trading at prices different to what the manager believes is their intrinsic value.
PM Capital was acquired by Regal Partners in November, last year.
Of course, can’t expect APRA or ASIC to actually really do anything against Industry / Union / Bikkie Super Funds.…
It's quite easy to charge way less than this and remain profitable and compliant. If clients have simple requirements then…
That average fee looks fine. I only asked because I have seen examples (not in the main) of advisers charging…
I struggle to understand this concept at all as these clients have choice and they don't deserve to be discarded…
I'd start by looking at your target profit margin, what your profit is now and what you need to charge…