Bigsky, it sounds like you work for LSF. The LIC should ABSOLUTELY do a full share buy back now to close the gap. But guess what? The Managers at L1 are not letting it happen. They are buying the shares at market instead of allowing the unit holders to redeem their shares at NTA. This is pure theft. I cannot believe it is legal for the managers to buy shares in LSF on market when they have the power to wind the fund up and return the NTA to shareholders. This is a complete scam. Anyone selling their shares right now to the LIC managers should be thoroughly disgusted. This model is now a complete conflict between the LSF shareholders and L1, the manager. The managers at L1 would be quite happy to scoop all our shares up on market and then redeem at NTA when they can get the benefit of the spread. They have given up on performance fees and are now looking at buying as many shares on market as they can and will ultimately cash out on the spread. This is a DISGRACE. LSF should do a full buyback NOW. This sham of an experiment is over.

i reckon he works for the fund. The LIC should ABSOLUTELY do a full share buy back now to close the gap. But guess what? The Managers at L1 are not letting it happen. They are buying the shares at market instead of allowing the unit holders to redeem their shares at NTA. This is pure theft. I cannot believe it is legal for the managers to buy shares in LSF on market when they have the power to wind the fund up and return the NTA to sharefolders. This is a complete scam. Anyone selling their shares right now to the LIC managers should be thoroughly disgusted.