@Stumpedup and @thecapitalist. Stumped, only got into Schroders in Oct last year and more than impressed with the returns already; they seem to be the quiet achievers. Re Salter, I had a look at their latest report and they are certainly not afraid to take positions in microcaps. One that took my eye was Alcidion a medical software company that has had “potential” for years but never produced. An interesting LIC to watch if only because of their holdings. Cap, it’s good to see that your position in MQA ? The roads Group ? Is finally going the right way ! I see that analysts are also recommending Transurban as a potential takeover target.. best Wishes. PJ