Ann: Monthly NTA 31 August 2021, page-2

No 6 month or 3 month performance numbers ,although strategy going for 12 months. Significant underperformance of benchmark . Looks to be around 8% for the year. Hedge funds are not performing well . Probably should be selling at a 15%-20% discount to after tax NTA. Stock seems to be being set up for a rights issue . Unless its a 15% discount its probably not a good bet. DYOR