I too was expecting a better result but it looks like maybe in 6...

I too was expecting a better result but it looks like maybe in 6 months time.

I bought in at an average of $12.59 with a top buyin price a bit over $13. At $15.34 I sold 30% because it had reached 15% of my DIY fund, which reduced it to about 10% of the fund. At the current $16+ it is over 10% but I will sit tight for the rest of the financial year and see what happens.

I am not a GI man but have a basic understanding of the process. About 10 years ago QBE hit a low around $6 or $7 and I was sitting next to a GI man at lunch one day, who advised me to buy "because stockbrokers etc have no understanding of GI, and QBE was way undervalued". I missed that opportunity but when it fell from $30 to $13 and lower I could not resist it this time. When it gets back over $20 towards the end of next year, I will probably sell all and put the proceeds into a good solid LIC (AFI, ARG, MLT etc) earning about 6% after franking credits.

I would be very interested to see Jossette's comments on the results if and when they might come out!!