NTA gone up from 1.43 in 2023 to 1.59 so increase of 11.18% in...

NTA gone up from 1.43 in 2023 to 1.59 so increase of 11.18% in 12 months which is not bad but this increase in NTA isn't reflected in share price movement resulting in negative performance of share price while NTA going up. This may be due to perception that WAM will run out of profit reserve anytime soon but data shows their Profit reserve actually getting better but how long it can do that is the question or market actually not interested in giving 20% performance bonus to WAM when it performance poorly compared to low cost ETF like VAS ... !!!

So last year with NTA of 1.43 and profit reserve of 14.3c it was trading at 1.69 while this year with higher NTA (1.59) and bigger profit reserve (22.9c) it is no where near 1.69.

If I go back a year before in 2022 the NTA was 1.41 and profit reserve was 18.1c while share price was 1.865 !! so even worst & NTA then 2023 the share price was much higher !!!

So it is surprising this is no longer trading at premium it used to and it could be because of lack of faith that it will even go up again with sustainable profit reserve (like 2+ year) and market probably not interested in giving 20% performance bonus to WAM when it perform extremely poorly compared to low cost etf like VAS ! or something we don't know !

The only hope I have is that when the reserve bank starts cutting interest rates and bank saving rate goes down to 3% together with bullish market (if it happens) then we might see more crowd happy to give some higher premium to get high dividend yield !

Interesting... to know what Wilson has to say about his own fund's poor share price performance !!