FPC fat prophets global contrarian fund ltd

Ann: Preliminary Final Report, page-7

  1. 851 Posts.
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    I agree that the current portfolio looks pretty good & the overweight in gold is flying. I don’t know why people buy in at lic ipo’s, the chances are they’ll drop around 10% from NTA (which is inevitably less than original investment anyway) allocate the funds too quickly so underperform & then get a bigger discount which panics investors who sell & pressures the managers who do buy backs & change mandates. Better to wait for a couple of years when things have played out & buy at a big discount. Now is the best time to buy on a risk reward basis.
 
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