Fat Prophets Global

Angus Geddes, Lead Portfolio Manager, answers five questions about the Fat Prophets Global Contrarian Fund IPO (6:48min).

Fixed Priced IPOType of Offer
24 Jan 17Offer Open
10 Mar 17Pay By
$1.10Price
Up to $33 millionSize of Offer
$2,200Minimum Bid
Taylor CollisonLead Manager
37
1081

Overview

Fat Prophets Global Contrarian Fund Limited (ASX: FPC) has been established to provide investors with access to an actively managed global portfolio built around high conviction ideas, aiming at timing key investment inflection points to maximise returns. While the Listed Investment Company sector has grown considerably in recent years, the Company believes that the distinctive approach being adopted sets it apart from the crowd.

The Manager’s philosophy is that markets tend to overreact to events, which presents short term overpriced or under-priced opportunities. The Company’s approach will be to construct a concentrated portfolio with typically 15 to 25 stocks selected from developed markets within a medium-term horizon. It will also use derivatives and leverage. To help balance out the portfolio and manage the risk, the portfolio will include trading opportunities in currencies, commodities and other security markets.

Angus Geddes has been engaged by the Manager to act as lead portfolio manager. He co-founded Fat Prophets Pty Ltd in 2000 and is its current Chief Executive Officer. Angus has considerable experience investing in multiple asset classes across global markets, built up over the course of more than 20 years in the investment industry.

Fat Prophets has accrued considerable investment knowledge and skills covering global equities, commodities & currencies. Services provided to its clients include the provision of company and macro-economic research to over 10,000 subscribers together with a range of model portfolios, the first of which was set up in May 2007, specifically constructed to meet the investment management needs of individual investors. The investment strategies covered are; global shares, Australian shares, mining and resources, Australian share income, small and mid-cap and UK equity. As at the end of December, 2016 total funds under management in these models stood at A$87.2m.

Angus Geddes and entities associated with him currently intend to participate in the Offer by investing a minimum of $1,000,000 in total.

FPC is raising $16.5 million to $33 million with an additional $33 million in oversubscriptions. FPC is also issuing 1 Loyalty Option for every Share subscribed. Each Loyalty Option is exercisable at $1.10 and will vest on the date that is 12 months from the date of quotation of the Shares on the ASX.

Section 734(6) disclosure: The issuer of the securities is Fat Prophets Global Contrarian Fund Ltd ACN 615 414 849. The securities to be issued are ordinary shares. The disclosure document for the offer can be obtained by clicking on the link above. The offers of the securities are made in, or accompanied by, a copy of the disclosure document. Investors should consider the disclosure document in deciding whether to acquire the securities. Anyone who wants to acquire the securities will need to complete the application form that will be in or will accompany the disclosure document (which can be done via the electronic application form which will become available by clicking the bid button above).‚Äč

The company reserves the right to close the offer early.

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