what I don't understand either is ... managers of most LICs trading at a discount to NTA spend on buying their own shares because they see they the best return for their investment funds as their own discounted holdings.
TGF go to market raising $50 million to create more shares, and release these shares at an even bigger discount to NTA than the shares were already trading ... and tell us this is "done to help close the gap to NTA".
Fark off
The proof is in ... not only did NTA drop due to dilution, but the discount to the newly lowered NTA grew even larger.
How do the management even hold onto their jobs after this value destroying debacle.
At what point do they wind the fund up, sell the assets and give us the NTA equivalent in cash. Maybe Geoff Wilson should launch a takeover and do it for them
Ann: Estimated Weekly NTA as of 5 May 2023, page-4
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