Ann: CVF Monthly Update and NTA Per Share at 30 June 2019, page-2

Gotta say that after all the hype and high cash holdings, I'm disappointed at the results. So much cash, so many opportunities both in Oz and O/S and such poor results overall. Yes, I know that there is a good NTA to aspire to, but as I keep saying with any of the LICs trading at a discount to NTA, that discount is only good for the investor if it disappears and the SP rises to the NTA. I can appreciate that they got caught on the hop with APT, but I just wonder that since they revised the investment team, they have lost their flair for investment or alternatively, they could be smarter than the lot of us and saving cash for what they may see as a market correction.
On the record though that since I have been a holder in CVF, this has to be the most disappointing monthly report with little good news.