Ann: Indicative NAV COB 17/03/2020, page-7

Time for me to draw down on the mortgage. Never seen something this hated. 25% discount to NAV. Steve has proven himself for 8 years. Sure he's had 2 very bad years but so have a lot of other funds. His luck will definitely change. He'll be scooping up these bargain stocks for sure. This is a value investors paradise. Some of these stocks are trading at a price to free cash of 1.

I'm glad it's a closed ended trust. There's too many irrational people invested in this fund.