The "crappy performance figures" you talk of are relative to an index. The absolute performance is ok. The LIC performance is poor due to the LIC launching at NTA and now trading at a 15% discount. No doubt if you got in on the IPO you wouldn't be happy, but, if you are assessing the company now its a different story.
Don't get me wrong, I would be all for a wind-up or rolling the LIC structure into a open ended ETF that trades at NTA.
If that happened we would get a one off 15% gain...........thats the benefit in buying at a discount.
Ann: Shareholder update, page-9
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