Ann: Net Tangible Asset Backing, page-6

The Bell Potter LIC report indicates that the average discount to NTA for CIN over the last 5 years is 19.1%.

The highest has been 24.4% and the lowest 10.5%.

The current discount to NTA is 24.18% so I stand by my statement that the discount to NTA is high by historical standards.

I agree that a LIC with such a high weighting in one stock is unusual and you would have to have a favourable view on EVT to hold.

I do, and I have been acquiring over the last few months, however this position will only be a small portion of my holdings (less than 4%).