My estimate, based on the part of the portfolio that is visible at the start of the month, is that the CTN portfolio was up by 2.48% through June. Based on the closing price at the end of May, $0.90, that scales to $0.922 at the end of June and the after tax NTA scales to $0.972.
As of yesterday my respective estimates for CTN were $0.933 and $0.983.
The rise through June is a bit surprising given how poorly small stocks generally do in June. (In concert with CTN, the small Ords was also up 1.62% against the seasonal trend in June.) My own list of selected swafs, that's stocks without analyst forecasts (on Comsec), was up 5.27% in the same period.
The much heralded, wondrously talented new board doesn't seem to have had much effect on the CTN share price discount to NTA so far. I wonder what is holding them up.
Presumably the actual NTA will be announced in the next day or so and we will get to see if they have performed any hidden magic - the current market price suggests that they haven't. The last NTA was out at noon on 6 June.
(Of course portfolio changes, dividends and the approximately 50% of the portfolio that is not declared can make nonsense of my NTA estimates and that applies even if I haven't made a mistake, which I am prone to.)
cheers.
CTN Price at posting:
92.5¢ Sentiment: None Disclosure: Held
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