Sold out of VG1 this morning despite the 20% discount to NTA and a heavy loss.
My thesis was that a merger/takeover would close the NTA gap but it has not happened. No merging with RF1 and with WGB trading again at a discount Geoff is not coming to the rescue.
I never was comfortable with the double digit position in Amazon and high single digit in Richemont. After reading the recent AFR article on RL I have no confidence in him managing my money.
The proceeds of the fund will go to cash and reinforcing VG8 which is looking more promising since PK took over.
In the last month Richemont holdings has been cut in half and replaced by Woodside. He also introduced more ASX resources stocks like Oz Minerals and Aurizon. Some would argue that it does not offer diversification from the ASX in an Asian fund. But the priority now is to bring back performance to positive territory and knowing PK track record I will sleep better.
VG1 Price at posting:
$1.48 Sentiment: Sell Disclosure: Not 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)