I took a look at PTM following your post, and was pretty shocked...

I took a look at PTM following your post, and was pretty shocked by the price. I was a shareholder many years ago at a much higher price, although I sold higher still and made a tidy profit.

It seems that Kerr Nielson has largely washed his hands of the business, and the other PMs just aren't cut from the same cloth. Investors are probably starting to realise that they're paying Rolls Royce fees for Malvern Star performance.

I think that I might take a nibble at it because it is undeniably cheap and the PMs they have are much better than their generally abysmal 5y performance figures would suggest, so an about-face on FUM flows with some performance fees would send the SP skyrocketing from here, but it is definitely not a stock that I'd really load up on unless Nielson became a PM again.