Q. Do Funds have to crystalise their gains in order for them to be in a position to make distributions to their Fund members at year end?
I imagine they would - they couldn't just have a paper gain shown on the books without the money in the bank from which to pay out their distributions. A healthy distribution goes over well with their investors and looks good when shown in the facts and figures in their prospectuses.
So it could be that there has been some Funds selling once CHN reached its price level of a week ago. Maybe there is more to come.
Funds can buy back in having realised their gains. Their re-entry presumably at a lower point to which they sold can be after 1st July or before, depending on their cash position after their distributions and if they want to cash in other non-performing investments.
All my own take on things - do your own research.
MM
CHN chart, page-52
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Last
$1.10 |
Change
0.035(3.30%) |
Mkt cap ! $425.9M | |||
| Open | High | Low | Value | Volume |
| $1.06 | $1.10 | $1.05 | $1.453M | 1.343M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 15322 | $1.09 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.11 | 26105 | 3 |
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| Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
| CHN (ASX) Chart |