“The outlier on the other side of the scales in the small cap group was (ASX:GC1) it returned -1.0% for the quarter. This lagged the benchmark and in a quarter where active LIC & LIT managers produced both solid absolute and relative performance it lagged badly behind peers. Indeed GC1 was the only LIC out of the 25 LIC/ LIT in our Small Cap group to record a negative absolute return for the quarter. Indeed on a longer time frame GC1 is lagging both the benchmark and peers on both a 1 year and 3 year time”
Not a good read in a rising market ! I wonder what and why the reason was ? Hopefully MG is not preoccupied elsewhere........
Ann: Net Tangible Asset Backing - October 2019, page-5
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