I usually refer to NTA after tax because that is like the net assets... pretax would be gross assets which is kind of useless because they still have a liability to pay the tax before shareholders. In the case of a LIC i think it is the valuation of all investments + any cash on hand, this is straightforward for listed investments but non-listed things such as ownership in a private company. And then that total is divided by all shares + any options over normal shares if taken into account like they are here.
What it really means though is that if the company closed tomorrow and shareholders were paid out with the profits the NTA less tax is what everyone would get per share. But as captain Stu won't be doing that any time soon, we are using it here to verify the shareprice, and is how you can determine if it is discounted, on par or at a premium.
Someone please correct me if i'm wrong but thats how I understand it.
HML Price at posting:
$2.08 Sentiment: Hold Disclosure: Held
