Wilson chair sees big buying opportunity

The chairman of listed stock market investor Wilson Investment Fund Ltd says the current market climate will provide the biggest buying opportunity in his lifetime.

Chairman Geoff Wilson on Wednesday told shareholders at the group's annual general meeting that Australia is 12 months into a bear market, in which stock prices and indices fall.

"Investors are filled with fear," he said.

"In the stock market, extreme emotions provide opportunities.

"I believe the current period will provide the greatest buying opportunity in my lifetime."

Mr Wilson said that as at October 31, the value of Wilson Investment Fund's portfolio was $79.89 million.

The portfolio includes large investments in such sectors as banks at $21.49 million, diversified financials at $15.89 million, health care equipment and services at $7.46 million and insurance at $6.09 million.

The average yield of its current portfolio is forecast at seven per cent in 2008/09 and 7.44 per cent in 2009/10.

"We believe there are always opportunities and we look forward to the current year," he said.

The fund's share price was down half a cent to 56 cents at 1303 AEDT.