Krisako, I'm not sure there is any strategy to, and I quote,...

Krisako, I'm not sure there is any strategy to, and I quote, "get SP to the same level as NTA". They have initiated a program to address the discount between NTA and SP, but that is not the same as eliminating it. This is from their most recent presentation:

1. Specifically designed to address the material discount between the share price and NTA
2. A minimum of $25m (in aggregate) to be bought by Mark Landau & Rafi Lamm by February 28, 2020*
3. Based on historical market volumes in LSF shares, this amount equates to approximately 20% of market turnover for 5-6 months
4. If LSF shares continue to trade at a material discount to NTA, the board has stated it will consider the potential for an on-market buyback

So there are a few caveats there, including the definition of "material discount" and importantly the difference between "considering the potential" of a buyback and actually doing one. Personally I think there are two main drivers to the SP, one of which being a consistently increasing NTA, the other being the relative performance of an investment in LSF compared to an investment in practically any other LIC/ETF at a time when the market is in full-boom mode. For sure I think some people would be losing patience with LSF and investing in high-growth options, and in the process increasing their risk profile.