Yeah, the last year alone has destroyed the NTA and the 5 years of outperformance! It was the best performing LIC on a five year basis when i first invested, two years ago! It was at the top of recommendations.
You have to remember, that whilst the NTA is similar to its launch, it has given away fully franked dividends and special dividends, of 6-9pc fully franked. That might not be the best LIC, but grossed up 10-11pc depending on your tax bracket, is still better than most LICs I'd say.
They are primed for a fall in the AU, and resources to fall, so won't outperform whilst the opposite occurs! I think it is a great play, many stocks in portfolio that will benefit from falling AU, a good hedge.
Not as impressive as ALF or WAM, but still good, but not great last 12 months!
CDM Price at posting:
$1.26 Sentiment: Buy Disclosure: Held
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