Ann: DUI Analyst Presentation - December 2022, page-7

A few possible reasons to begin with:
* Their liquidity is generally lower than AFI and ARG - sometimes there are very few buyers/sellers, particularly for AUI, and the gap between buy & sell price is sometimes quite large.
* They don't do a lot of marketing (if any at all) compared to AFI and ARG - there are no bells and whistles with their reports or website.
* They have historically almost always traded at a bigger discount or lower premium than AFI and ARG, so perhaps people are wary of buying at levels where premiums/discounts approach those of AFI or ARG.