Benefits of investing in WGB

Investing with Wilson Asset Management provides investors with:

• Risk-adjusted returns. Wilson Asset Management is focused on delivering strong returns while taking the least risk possible to protect shareholders' capital. Our flexible mandate allows for above average cash holdings.

• Deep diversification. LICs managed by Wilson Asset Management hold small positions in many companies, providing shareholders with access to highly diversified portfolios.

• Experienced experts. Wilson Asset Management's investment team has a total focus on protecting and growing shareholder capital and is informed by more than 100 years' of combined equity market experience.

• Full market access. Wilson Asset Management's investment team hold more than 2,500 company meetings each year, that coupled with their extensive network in the market, provides insight, intelligence and opportunities.

• Transparency. Wilson Asset Management values shareholder engagement and its LICs adhere to strict corporate governance requirements.

• Shareholder advocacy. Wilson Asset Management regularly and actively engages in public debate on behalf of self-managed superannuation funds and retail investors.

• A positive impact to the community. Wilson Asset Management is passionate about making a difference to the broader community.

About the Fund

WAM Global provides investors with exposure to an actively managed diversified portfolio of undervalued international growth companies and exposure to market mispricing opportunities. WAM Global's investment objectives are to deliver investors a stream of fully franked dividends, provide capital growth over the medium-to-long term and preserve capital.

Investment objectives

The Company's investment objectives are to:

1. provide capital growth over the medium-to-long term;
2. deliver a stream of fully franked dividends; and
3. preserve capital.

Investment strategy

The Investment Manager will actively manage the Portfolio, using Wilson Asset Management's research-driven and market-driven investment processes.

The research-driven investment process involves extensive research, focusing on free cash flow, return on equity and the quality of the potential investee company. Each company is rated with respect to management, earnings growth potential, valuation and industry position.

The market-driven investment process takes advantage of short-term relative arbitrages and mispricings in global equity markets.

How we invest your money

The Company will invest in line with four broad principles:

1. Focus on listed global securities: The universe of potential investments for the Company is focused on undervalued international growth companies. While the Company will focus on securities quoted on a global securities exchange, it may invest in any international or Australian securities (irrespective of whether the Securities are listed on a securities exchange), use derivatives, hold cash and invest in the other permitted investments identified below.
2. Preference for undervalued companies: The Company's preference is to invest in entities where the securities are trading below Wilson Asset Management's valuation and are the subject of a catalyst that, in the Investment Manager's view, has not yet been factored into the value of the entity and is likely to change the market's valuation of that entity over time.
3. Portfolio based and index unaware investing: The Company's priority will be to undertake investments on a portfolio basis. The Investment Manager will be index and benchmark unaware when selecting investments. While all investments will be considered on a case-by- case basis, the Company will usually refrain from taking a majority position in investee entities. This will assist the Company to diversify its investments and so reduce its exposure to abnormal falls in the market price of any single investment. The Company will seek to manage investment risk by spreading investments over a range of companies and industry sectors. In addition, the Company will aim to construct the Portfolio to ensure that there is wide diversification across different global markets and currencies to mitigate country-specific risk.
4. Capital preservation: Capital preservation is a key investment objective of the Company. The Company will hold cash unless it can identify appropriate investment opportunities. This could lead to the Company holding high levels of cash in the Portfolio from time-to-time. To ensure capital preservation, the Company may also hold bills of exchange or negotiable instruments from time-to-time.

Permitted investments

The Investment Manager may invest in:

• international and Australian Securities;

• Derivatives including futures, forwards, warrants and contracts;

• bills of exchange, negotiable investments and debentures; and

• cash.