Geoff Wilson’s WAM is an investor in Magellan’s closed end fund, MGF
Wilson doesn’t expect activist Nick Bolton’s MGF options trade to work.
Instead, he says the fund manager will wait until March 2024 before it acts.
Wilson Asset Management chairman Geoff Wilson says he expects Magellan Financial to run down the clock on the options tied to its $2.8 billion closed end fund before it acts to extinguish a double-digit discount between the unit price and asset value
The Magellan Global Fund is the subject of a potential push by activist investor Nick Bolton and his Keybridge Capital, which has been hoovering up cheap options tied to the fund. He intends to buy enough units in the fund to call for a vote and wind it up.
Loading...
Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
