With the sharemarket having the wobbles again and defensiveness back in vogue, the folks at ASX-listed Arowana International are spruiking the virtues of value investing as they knock on doors with premarketing to raise up to $60 million for a new listed investment company.

This one won’t trouble AFIC, Argo or Milton when it comes to size, but the theory is the same. No “rock star’’ culture among the fund managers, and definitely no spectacular two-metre jumps out of the water like the pearl arowana, the fresh-water fish from north Queensland from which the head company takes its name.