1. What are the best silver ETFS to have in your portfolio?

There is only one silver ETF listed on the ASX: ETPMAG from ETF Securities. Listed back in 2008, ETPMAG holds physical silver, the units are redeemable for silver, and the management fee is 0.49% pa. It is about $130m in size.

2. What is your opinion of the proposal by Magellan to merge their listed and unlisted international share funds, including Magellan Global Equities (MGE) and the Magellan Global Trust (MGG)?  

In regard to the Magellan restructure proposal, I have not studied the proposal in detail (nor seen the Scheme Booklet), but prima facie, it looks reasonable. There is a sweetener for unit holders with a subsidised entitlement offer and bonus options.

3. Are there revised target prices for ANZ, CBA NAB and WBC?

According to FN Arena, the current consensus target prices are: 

ANZ: $21.61 

CBA: $66.51 

NAB: $20.26 

Westpac: $20.23 

CBA is the only Bank whose target price is below the ASX price.

4. I hold WAM Microcap (WMI). They are doing a share purchase plan – should I participate?

 Geoff Wilson’s WAM Microcap (WMI) boasts a very credible investment performance, so on track record, I would participate. The entry price is the company’s NTA (net tangible asset value), plus you will get the dividend of 3c per share. WMI is currently trading on the ASX at a small premium to NTA. 

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Important: This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual. It does not constitute formal advice. Consider the appropriateness of the information in regard to your circumstances.