I am thinking the share price would be a bit higher than current...

I am thinking the share price would be a bit higher than current levels if the market felt the chances were good for a wind up. As a result assuming the wind up fails I don't think there is a lot of downside. When talking about downside here I am referring to discount widening rather than picking the short term volatile movements in China shares, that is very debatable.

I bought recently again at what I felt was a 19% discount to NTA not really expecting the wind up to occur, but I would prefer it to. I felt the discount was wide given AMP has at least introduced some good measures if we compare to what we had last year. Maybe they could even go a bit further with the latest pressures and at the last minute further increase the percentage that can redeem at NTA, or a bigger buyback.

Obviously the China stock market is also very important. I am not that bullish on the economy compared to others but valuations look much more favourable than the U.S. We have seen with global stock markets recently the economy does not necessarily have to perform better than expected for shares to do well, it's all been liquidity based. If I have to have some long equity exposure why not China rather than the U.S.

I may have been harsh on AMP but if they are genuine looking after unit holders I am sure allowing double the number to redeem at NTA and double the size of the buy back could have been fine. If you want to keep your China exposure I think you would probably do better if you were able to get the wind up proceeds here and re invest in another China exposure. You could perhaps open up a global broking account in Australia and am guessing you can re invest in a lot of other choices of China closed end funds at a discount.

I don't see LIM as just looking after themselves, they want a good risk adjusted return on their investment like I do. AMP also want that of course, but may have other conflicts.