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FTA - Firetrail Absolute Return IPO

Discussion in 'Stocks 0-H' started by Miner, Sep 29, 2018.

  1. Miner

    Miner

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    Fire Trail IPO
    Hello folks
    This is a new IPO of $500 M coming to market and hypes have been created.
    The unit price is $2.10 or so. I am interested to learn if any one is watching this and his/her thought on this. Credential of the promoter. Is it too high priced when comparing the initial prices of other fundies from reputed firms like Wilson and others
    https://www.afr.com/street-talk/new-fundie-firetrail-ready-to-burn-with-500m-raising-20180806-h13lph

    https://firetrailinvest.com/
    https://www.taylorcollison.com.au/news/firetail-absolute-return-limited/
     
  2. Belli

    Belli

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    As soon as I saw the performance fee is 20% of outperformance above the RBA Cash Rate (after Management fee), I walked.
     
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  3. Miner

    Miner

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    Good walk over. Most of them charge 15% performance fee for non performance any way.. Ha Ha.
    Thks for comments.
     
  4. So_Cynical

    So_Cynical The Contrarian Averager

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    The pretty much complete opposite of an index fund, high conviction stock picking long and short, fees are high but then so is Wilson's...maybe wait for them to trip up and for the price to come down?
     
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  5. Belli

    Belli

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    I'm a complete klutz when it comes to assessing shares which is why I now stick to LIC's and ETF's. The only thing I do know (I think) is that once you put your money into this at the float, the only way you can get any or all of it back is to rely upon the share price and sell.

    In the meantime, no matter what the performance, however it may be described, the managers still charge pretty high management fees, possibly performance fees and probably directors fees. I have avoided anything to do with those GW is involved with on that basis. Whether I've lost out or not as a result isn't an issue for me. I have to be comfortable with what I do and that is all that is relevant to me.

    Lots of these things seem to be coming to the market recently. No idea why.
     
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  6. Miner

    Miner

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    Thks SC
     
  7. Miner

    Miner

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    Goo
    Good share Belli. You opened my blinded one eye on Wilson's own stake. Technically WMI is doing very well. Others are not too bad. I will dirill the hole deeper. Thks
     
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