I am not really looking at it with the view to capitalise off the NTA discount shrinking.
I think closed funds deserve a slight discount - given the rising aversion to the structure and growing popularity of ETFs.
Noting that, I like their stock selection and positioning - if I can reenter at a decent discount I will.
Overall, I think stock selection is going to come to the fore very soon - and the crazy increases we have seen in funds simply tracking indices will be tested.
Ann: Net Tangible Asset Backing, page-4
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