You know the closed fund industry has reached an all time low when discounts of over 15% aren't considered appealing.
They are becoming more and more a capital trap - nothing else.
I will never get tired of the likes of Geoff Wilson talking up the benefits of franking credits - and it's presumed superiority to trust structures.
Please explain the difference between a distribution of $1 untaxed or a franked dividend of 70 cents with a fully refundable franking credit of 30 cents.
It's the same thing!
The over emphasis of franking credits has to be the scam of the century... and WAM are front and centre.
Oh, and I also love the outward aversion to buy backs... let me see. I wonder why a fund manager would hate using their capital to buy back shares and reduce the pool of money collecting fees.
Using WAM as the gold star was very hard to swallow.
Delayed notification of NAV Performance figures before fees Tirades over franking credits
WAM are advertising geniuses - nothing else.
If they want to improve the discount - improve performance. It's that simple.
VG1 Price at posting:
$2.00 Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)