Ann: NTA & Top 25 Investments as at 31 May 2024, page-5

"what I see as a nice discount to pre-tax NTA."

What I see is a shift in sentiment away from LIC's and into cheap ETF's. It's a fact that that's where money is going.

That's all I'm really saying. Furthermore, nobody has really challenged my comments.

@rivella - it's clear that when you look purely at a price chart, you'll see that the AFIC share price has appreciated by 18% over 10 years. Even my broker platform which shows total returns shows AFIC appreciating by 5.5% over a 10 year period. So If I'm wrong, then so are they.

I still firmly believe that from here-on-in, AFIC will trade at a discount to NTA - Permanently. It'll be around forever, but it's challenged.