net asset backing > 4x share price, page-4

If we could divest the portfolio at close to the June 30 stated NTAs then I think the 18c divy would be conservative but that presumes two things: 1) The desire of the people in control to wrap things up - putting an end to comfortable payments to the RE, Directors and Management. 2) The ability to sell at a reasonable price into the current market - I also own RPF shares and was at the AGM where Management claimed there is a limited market at current values.

The current share price reflects the perceived challenges / risk associated with IEF.