I hope you're right, but i doubt it personally. If APT continues...

I hope you're right, but i doubt it personally. If APT continues it's tear, then the NTA will continue to march upwards. But I still see the discount persisting, unless the NTA increases get so large that sentiment really starts to change.

The absolute biggest driver of discount / premiums in LICs appears to actually be... dividends. I remember Peter Hall talking about how dividends are the "magic button" for LICs. Years of buybacks did nothing for his LICs share price, but once a "consistent growing dividend" was instated, the discount miraculously started to close. All the LICs that trade at a premium on the ASX have high, full franked, dividends. MFF never paid much by way of dividends, and hence despite it's' stellar performance history has traded at a discount for long periods.