the LMI monthly update discusses cash reserves for LIC's and movements in the industry. LSF is reported as having 10 years worth of reserve cash. this seems pretty extreme and is way over the industry average?.
I would interpret this as meaning the will continue to increase dividends and you can pencil in divs regardless of the market for 24 months??
also in regard to discount to NTA. if the difference is too great the funds are taken off the market (or are taken over perhaps?) eg FOR is the latest.
the articles and ratings are a good read. LMI Monthly Update. I get mine from Rudi's web site suppose they would be direct as well.
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