Nobody can answer what a reasonable price is. It is whatever a...

Nobody can answer what a reasonable price is. It is whatever a willing seller and a willing buyer decide it will be.
Below is the performance of the retail fund which is largely the same and pretty much tracks the same as LSF NTA
They measure against the absolute return index, not a particular market but a group of, with the aim of producing positive returns regardless of equity market movements.
Do they add value? Most of the time.
Does it cost for the added value? Yes it does
Has it been worth it, and I have been here since listing? Yes it has
At times are you better off in a long only fund? Yes, if you pick the right market!!!

There have been times where one might question their strategy, and they have made mistakes over the years, but over the long run it has been useful for me and is mostly a stress free position. I have other long only funds as well and this is a very useful risk moderator, most especially in times of equity market falls and greater volatility.

For me I trust the process, re-invest the divys and sleep well at night, and as a proportion of my portfolio this is now potentially larger than what it should be.
Pretty much says it all from my perspective.