Wellington Financial's latest investor return data

A member of our Advisory Council thinks we can do a better job getting our “story” out there.

Since the point of having such a body is to take their advice, may I present to you our most recent fund returns. The figures are net of all fees, expenses and any historical credit provisions. As you can see, our Fund IV Limited Partners had an unusually robust 2015. That`s partly a function of an active M&A market, as 7 of our portfolio companies were acquired last year. Others saw a real uptick in their valuation as they raised new equity capital. With warrants in such names as Bluestreak, Maxymiser, Real Matters, Wmode and Xactly, for example, LPs benefitted handsomely on both fronts:

One other thing: these returns are unlevered. Keep that in mind when you compare this data to the disclosure of other firms in our sector. Many of our U.S.-based competitors utilize fixed rate U.S. government funding or warehouse lines from a commercial bank to goose their returns. And let`s not forget that the Canadian chartered banks are levered something like 20-1.

We prepare our financial statements on both a cash and GAAP basis. After all, LPs can`t eat GAAP returns.

MRM
(disclosure: this is not a solicitation to raise funds for Wellington Financial Fund VI, since we just closed our Fund V; and, never forget, historical returns are not predictive of blah blah blah)