Ann: Dividend/Distribution - WIC, page-8

I sold my options a fair while ago on market not believing that they would be in the money. Since then, they have been in and out the revolving door. Interesting in This months report how much of the cash weighting they have deployed adding to their positions. They have been pretty much on the money with their picks, possibly erring with Australis after their drilling accident. Interesting that they have BHP amongst all the small and medium sized fry. They have been successful in explaining their WSA portfolio selection and picking WAF and others. Dermot and the other analysts will not get it right every time, but compared to other LICs, they have the runs on the board judging by the performance graph. The discount to NTA IMHO is not warranted and WIC is possibly suffering from being a very small LIC doing “fairly well” amongst a sea of other LICs that are reporting poor results. WIC is possibly being tarred with the same brush. I haven’t seen anything in WICs results that makes me concerned, quite the contrary that the managers are not afraid to back smaller emerging stocks but are also prepared to have BHP in the mix. Resources is the flavour of the day, only time will tell if WIC continues to perform when the resources boom tapers off. Happy holder and unhappy that I haven’t got more funds to buy more in my own name rather than my SMSF.