He isn't going to ever convert this to an open fund. Period. Fund managers love locking that capital up and sucking away the fees.
They know investors are idiots, never vote, and will be stuck with illiquid, crap performing LICs for an eternity.
But don't worry people... Alex is an amazing investor... he married into a rich family... and then started a fund.
Ann: Net Tangible Asset Backing January 2024 with commentary, page-6
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