Yeah, they are long a lot of Oil companies. Talk about good timing (NOT!!) they just announced this morning they are a substantial shareholder in Karoon Oil and Gas which is 38.6% as I type.
Given their long Worley and their US (CVE Energy, MEG etc) and Europe (Shell, Total) Oil longs the NTA is going to get hammered again in 3 days time. I reckon there is a good chance the NTA is below the December 2018 low of $1.429 it hit on 21 December 2018 when they report today's NTA on Thursday morning. Over the same period the ASX 200 is up 6.9% plus dividends so it shows how much these guys have underperformed (even after they underperformed by 26% during the eight months of 2018 that the fund was listed.
While the discount looks good at ~ 20% pre tax it won't help if they keep underperforming so badly. Still and avoid currently for me
Yeah, they are long a lot of Oil companies. Talk about good...
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Last
$3.16 |
Change
0.010(0.32%) |
Mkt cap ! $1.976B | |||
| Open | High | Low | Value | Volume |
| $3.19 | $3.19 | $3.15 | $818.9K | 257.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 162 | $3.16 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.17 | 6308 | 2 |
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| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| LSF (ASX) Chart |