Ann: NTA & Top 25 Investments as at 31 May 2024, page-2

Wow. AFIC still claiming to be outperforming the XJO thanks to 'net asset per share growth' over a 12 month period to May 31 / 2024. Yet, the price chart over that same period shows that the XJO has risen by over 8.5%. Meanwhile, AFIC has floundered with an increase with a tick over 1% in that 12 month period to May 31. Tell me I'm wrong (and back it up).

Been trading at a discount for quite some time now. I'm assuming that all of the people who say to buy this at a discount have been investing heavily over the past 12 months? Or, is AFIC going to go the same way as their kissing cousins and trade at a discount - permanently? Where are the investors of the future investing their money? Old fashioned LICS or ETF's? I believe that it's because of this that AFIC will trade at a discount for the foreseeable future.

The stats regarding inflows into passive management vehicles like ETF's that are cheaper than LICS is compelling.

Days of trading at a premium are over. When you consider the share of the pie that AFIC have invested in banks at a time when banks have been roaring, AFIC has barely moved the needle whilst offering up a meagre 3.5% dividend.

Laggard.