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Barramundi IPO raised to $100m
Saturday September 30, 2006
Fund manager Fisher Funds will seek to raise up to $100 million in an initial public offering for Barramundi.
Barramundi aims to provide investors with access to a diversified portfolio of smaller, growing Australian companies.
Fisher initially planned to raise $50 million from the public, but said demand from sharebrokers had prompted it to raise that level to $65 million, all of which has been allocated.
Allowance has been made for up to $35 million in oversubscriptions.
Fisher Funds also manages investment company Kingfish, which focuses on smaller local companies.
The offer will open on Monday and close on October 20.
- NZPA
http://www.nzherald.co.nz/section/st...ectid=10403664
\"The overweening conceit which the greater part of men have of their own abilities [and] their absurd presumption in their own good fortune.\" - <b>Adam Smith</b> - <i>The Wealth of Nations</i>
The information you have is not the information you want.
The information you want is not the information you need.
The information you need is not the information you can obtain.
The informaton you can obtain costs more than you want to pay.
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Wonder what the outperformance management fee is in this one ...... Kingfisher ones a quite high
Dilutes returns a lot but can't blame carmel and her friends taking as much as she can from willing punters
Another $100M to manage ..... another few mil to go into the coffers for them .... every year come good or bad
”When investors are euphoric, they are incapable of recognising euphoria itself “
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Member
if it was 1:1 for the free options i'd be in with borrowed money, but i think i might just sit this one out.
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quote: Originally posted by winner69
Wonder what the outperformance management fee is in this one ...... Kingfisher ones a quite high
Dilutes returns a lot but can't blame carmel and her friends taking as much as she can from willing punters
Another $100M to manage ..... another few mil to go into the coffers for them .... every year come good or bad
quote:
Management Fee: 1.25% per annum of Gross Asset Value. For any particular financial year, the management fee will be reduced by 0.1% for every 1% underperformance relative to the change in the NZX 90 Day Bank Bill Index (subject to a 0.75% p.a. minimum).
Incentive Fee: The Manager will be paid 15% of excess returns over and above the Benchmark as a Performance Fee. 50% of the Performance Fee will be used to subscribe for new shares in Barramundi.
Benchmark: Changes in the NZX 90 Day Bank Bill Index plus 7% pa. For example, the year to 31 August 2006 the benchmark would have been 14.6% (7.6% plus 7%).
Nice work if you can get it.
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Zyreon - Isn't it a free warrant for each two shares, like the KFL offer?
The performance incentive bonus is set quite high, so that shareholders have materially benefited before they earn anything.
If it's the same structure as Fisher Funds use for KFL, there Management fee is reduced for poor performance, so its quite transparent.
Like GPG & KFL, if they return well above average returns year in year out, they should be rewarded i personally have no issue with this.
Disc: Hold KFL & although ASB offered me an allocation, my funds are required elsewhere.
Will look at in the new year?
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Might pay to look at Fisher's holdings in their Australian Growth Fund for some thoughts on which ASX shares might have some of that $100m heading their way!
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Exactly, its not likely to be much different.
That fund performed well for the last twelve months, however conditions unlikely to be so good for the foreseable future.
I would be tempted to forget about warrents and enter at a future
date at a cheaper price
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Member
quote: Originally posted by BRICKS
SOUNDS like another fish STORY.. [8D]
Or a "shark tale" [8D]
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Member
They trade at a discount and that is why you get free options. Like kingfish they get a performance fee if they out perform an index. The index used is the NZX 90 day bank bill index. This is where I totally disagree. The index should be the small companies idex. I will buy options when listed.
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Junior Member
Hi guys i just wanted to know if this share would b a good short term investment ie 1 year or would i need to wait longer to c any real returns?
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