Attended launch roadshow years ago. lost interest. only prompted today by Ellerston/Morphic webinar as a former EGI holder and current EGMS holder.
Now at a 16% discount to *post-tax* NTA. Could it be a potential discount capture candidate?
Performance has been good over last 12M or so.
Cons: small capital base and market cap <$100m. Thinly traded. Not aware of any other institutional investors with discount capture mandates with stakes...
Ellerston company may wish to keep the fixed fees coming. As a fund manager though, they surely see opportunity in the ESG space. Main ways to grow FUM for a LIC aren't available at this big a discount.
Bunch of random thoughts there, all up for discussion.
Ann: NTA at 12.02.21 Pre-tax 1.4126 Post-tax 1.3097, page-2
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Last
97.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $37.54M | |||
| Open | High | Low | Value | Volume |
| 98.0¢ | 98.0¢ | 97.5¢ | $7.936K | 8.139K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 30121 | 97.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.00 | 5264 | 2 |
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| Last trade - 13.24pm 03/07/2024 (20 minute delay) ? |
| MEC (ASX) Chart |