Agreed. The whole point of a buyback is to make it clear to the market, and encourage the reduction in the discount.
I guess the only issue at the moment is... a lot of closed funds have implemented buy backs... coupled with the fact LICs/LITs are on the nose.
In the current market, if the closed fund isn't sitting on a 20% discount... no one wants anything to do with it.
To some degree, I completely understand why the closed fund model is becoming the ugly duckling of the fund management world. Has been treated as a cash cow for far too long.
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