Overview

WCM Global Long Short Limited (WLS or the Company) is a listed investment company investing in a long short portfolio of global equities managed by WCM Investment Management (WCM).

WCM is a California-based specialist global equity firm with an outstanding long-term investment track record, and total firm assets over A$138.8 billion (as at 30 September 2021). WCM's investment process is based on the belief that corporate culture is one of the key drivers of the trajectory of a company’s competitive advantage, or 'economic moat'.

WLS aims to own businesses with growing competitive advantages supported by tailwinds and aligned corporate cultures, while shorting businesses with deteriorating competitive advantages, confronting headwinds and challenged corporate cultures. This process has contributed to the WCM Quality Global Long Short Equity Strategy (the Strategy), on which WLS is based, outperforming the benchmark MSCI All Country World Index by an annualised 10.9% per annum since inception in 2014 (as at 31 October 2021).

  • Proven world-class manager
  • Unique investment process
  • Quality global stocks
  • Active all-weather portfolio

More Information

Key Fund Info

Key Fund Facts

ASX Code WLS
Investment Strategy All-cap Global Equity Long/Short
Investment Advisor WCM Investment Management
Benchmark MSCI All Country World Index
Management Fee 1.40% (ex-GST)
Performance Fee 20% (exclusive of GST) of the excess return of the Portfolio (after the Management Fee) above the Benchmark, subject to a highwater mark
Administration Fee Nil

Investment Guidelines

Target number of holdings ~30-50 long, ~30-50 short
Typical gross exposure 135-175%
Typical net exposure 75-100% net long
Currency hedging Unhedged

Announcements

DateDescriptionDocument
30/11/2021 Appendix 4G and Corporate Governance Statement View
30/11/2021 Annual Report to shareholders View
29/11/2021 Change in Company Secretary View
25/11/2021 Mid-month NTA 15 November 2021 View
12/11/2021 Monthly NTA 31 October 2021 View
13/10/2021 Monthly NTA 30 September 2021 View
11/10/2021 Resignation of Joint Secretary View
14/09/2021 Monthly NTA 31 August 2021 View
26/08/2021 Appendix 4E and Full Year Financial Statements 30 June 2021 View
13/08/2021 Monthly NTA 31 July 2021 View
22/07/2021 Change of Company Name and ASX Ticker View
16/07/2021 Update – Notification of buy-back – CIE View
16/07/2021 Notification of cessation of securities – CIE View
15/07/2021 Update – Notification of buy-back – CIE View
14/07/2021 Final NTA 30 June 2021 View
14/07/2021 Results of Meeting View
14/07/2021 Chairman’s Address to Shareholders View
14/07/2021 Estimated NTA 30 June 2021 View
09/07/2021 Company Secretary Appointment/Resignation View
25/06/2021 Notification of buy-back – CIE View

Why Invest

Proven world class manager

WCM has an outstanding long-term track record of global equity management. Its WCM Quality Global Growth Long Short Equity Strategy has outperformed the MSCI All Country World Index by an annualised 11.9% per annum since inception in 2014. Consistency of performance has been a large factor behind the firm managing assets on behalf of many of the world’s biggest pension plans including a number of large Australian superannuation funds. For more information on performance, please click here.

Unique investment process

WCM’s investment process is based on the belief that corporate culture is one of the key drivers of the trajectory of a company’s competitive advantage, or ‘economic moat’. WCM aims to create value by owning businesses with growing competitive advantages that are aligned with great cultures that are difficult to replicate, while shorting businesses with deteriorating competitive advantages and poor cultures that are difficult to change.

Focused and low turnover portfolio

The Strategy aims to invest in a portfolio of between 30-50 long, and 30-50 short companies. These companies are chosen from a universe of close to 2,100. This results in a high conviction portfolio ensuring that the investment team’s best ideas aren’t diluted by less compelling ones. The average holding period of each company is five to seven years. This means that each company is deeply researched prior to and post inclusion in the portfolio, resulting in avoidance of unnecessary and excessive trading.

Active all-weather portfolio

A key to building long-term wealth is to maximise participation in rising markets while limiting the impact of market weakness. The Strategy has therefore been designed as an ‘all weather one’ capable of strong relative performance in both up and down markets. WCM’s focus on culture and moat trajectory is a proven approach for achieving this objective. This is evidenced by their Quality Global Growth Long Short Equity strategy having delivered very low downside capture since inception, meaning on average the portfolio has contracted less than the benchmark during market declines. To read more, please click here.

Quality Global Stocks

WCM’s focus on quality global stocks with expanding economic moats leads it towards high growth sectors such as technology, healthcare and consumer. For Australian investors this provides significant diversification benefits, as these sectors represent a relatively small proportion of the local market. The portfolio has a relatively low exposure to banks and basic resources, the two heavyweight sectors in the ASX.

Traded on the ASX

The WCM Quality Global Growth Long Short Equity Strategy is available via a listed investment company, Contango Income Generator Limited (ASX:WLS), which means it can be easily bought and sold on the ASX just like any ordinary shares. Investors will have the convenience of CHESS/HIN statements.

The Manager

Founded in 1976, WCM Investment Management is a California-based specialist active global and emerging markets asset management firm.

The firm is majority employee owned and manages in excess of A$138.8 billion (as at 30 September 2021) of assets on behalf of institutional and retail investors around the world including Australia.

Sanjay Ayer

Portfolio Manager & Business Analyst

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Paul Black

Portfolio Manager & Co-CEO

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Peter Hunkel

Portfolio Manager & Business Analyst

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Mike Tian

Portfolio Manager & Business Analyst

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Michael Trigg

Portfolio Manager & Business Analyst

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Kurt Winrich

Portfolio Manager & Co-CEO

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Mark Kerr

Chairman & Non-executive Director

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Andrew Meakin

Non-executive Director

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Martin Switzer

Chief Executive Officer and Managing Director

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Sanjay Ayer

Portfolio Manager & Business Analyst

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Paul Black

Portfolio Manager & Co-CEO

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Peter Hunkel

Portfolio Manager & Business Analyst

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Mike Tian

Portfolio Manager & Business Analyst

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Michael Trigg

Portfolio Manager & Business Analyst

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Kurt Winrich

Portfolio Manager & Co-CEO

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Mark Kerr

Chairman & Non-executive Director

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Andrew Meakin

Non-executive Director

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Martin Switzer

Chief Executive Officer and Managing Director

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How To Invest

Contango Income Generator trades on the ASX under the ticker code ‘CIE’, so you can invest via your stock broker in the same way you would purchase any ordinary shares.

With a Full Service Broker
With a Full Service Broker

If you don’t have an existing Full Service Stockbroker relationship, visit the ASX website.

With an Online Broker
With an Online Broker

Purchase shares directly through your online broker with the ticker code WLS

Through Your Financial Advisor
Through Your Financial Advisor

Contact your financial adviser to invest.

Not Sure?
Not Sure?

If you have any questions, please contact us on
1300 001 750 or email [email protected]