Just be careful with holding or buying this LIC assuming the NTA moves with the market. It is generally more volatile and currently extremely volatile.
My buy/sell decisions relate to discount levels to NTA as well as liquidity so in the current market I am a buyer at discounts at least over 25% but if liquidity is poor then over 30%.
Post-tax NTA has dropped massively last week and liquidity has really dried up. All short-term factors are negative for portfolio. Buyback is the only reason to consider buying unless discount gets ridiculous (40% plus).
Given the manager's recent analysis of coronavirus, I doubt they reduced net exposure significantly. Probably still at ~95% (an all time high!)
So don't be lulled into thinking their shorts are going to help exposure wise. Currently any shorts just mean the overall bets (gross positions) are over 100% - they could get their short bets wrong versus long pair or market beta.
Ann: Appendix 3C - Announcement of On-Market Share Buy-Back, page-7
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Last
$1.58 |
Change
-0.005(0.32%) |
Mkt cap ! $124.0M | |||
| Open | High | Low | Value | Volume |
| $1.58 | $1.58 | $1.57 | $256.3K | 163.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 6280 | $1.57 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.58 | 2566 | 1 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| TGF (ASX) Chart |