I think you've hit the nail on the head here. This fund depended on Wilsons actually actively managing the investments, which they are not doing at all. GW is just sitting back and collecting another management fee from his loyal followers. He is now in semi retirement, spending half the year in Queensland and the other half on European racecourses, yet he is still named as the lead portfolio manager of this fund. This fund is just one big bet on the LIC industry and we all know what the furture of that looks like!
Ann: August 2022 Investment Update, page-7
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