We might drop back into the .80s shortly here! I gather the share portfolio hasn't done too well lately with big positions in HVN (which they seem to look at as a property play) and Lendlease but the property side is still doing very well. They just can't get any traction or interest with the general market and I can't see the hybrid LIC model going very far using URB as a precedent.
Ann: Net Tangible Asset Backing, page-2
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