From an analyst who covers the stock that figure is what they( the company ) have estimated will be the ultimate redemption level. They haven’t seen the physical request come through yet and he said this tend to take a few months. It’s possible that some of these come through next Fy. It wouldn’t be that bad if we had a bounce on fum related to the market bounce as this Would have covered 80% of future redemptions but the bounce was minimal if you want to take a more positive view , you could argue this prices the Fum is uncorrelated to the market. Not suggesting there isn’t any value at these levels , just disappointed to April performance I sold a few but decided to keep 60% of my holdings and see where we are end of FY
NGI Price at posting:
$1.23 Sentiment: Hold Disclosure: Held
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