Ann: PGF Market Update Video - August 2021, page-3

My view is that this is coinciding with a under cover CR. They tried a complicated mirror image fund and could not get it off the ground. It had a conversion at some later date.
Yes they are in a much better position to now create sustainable payouts.
They are a very good outfit and one of only 3 LIC's we invest in. They get the lions share. There is a problem in that this type of LIC once fully invested has to recycle cash and sell in order to have cash to invest. They tend to payout the income so it doesn't flow from there. The buyback around 18 months ago was to give shareholders who live off income access to cash. The negative has always been that its volumes are nowhere near the larger LIC's. However, that is one of the reasons I like them. Once s fund is in the Billions then its flexibility changes - they have larger positions. I like nimble and that is what I investing in.
I am not sure whatcI would like but I think that a regular CR but to existing shareholders would be a good idea. I do understand that it takes away demand but I would couple thatbwith a capital management buyback. That will keep making a market and also not create unhappy holders that are frustrated by the discount.