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.
TGF Price at posting:
$1.40 Sentiment: Hold Disclosure: Not Held
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