not far off underperforming over the very long term on a before substantial fee basis and with the help of using leverage.
The usual step for LICs is to then remove the reference to the ASX indices. Start to describe the product as a more "absolute return" focus or "income" focus.
then if those figures look bad, just remove all the long term returns data and only talk about monthly performance. Seen it done many times with LICs.
shall watch with interest.
Ann: Net Tangible Assets as at 31 August 2022, page-2
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