Agree with all the sentiments above. Literally, a shocking piece of news. A world class and expert fund manager in the Asian area “resigns” after 5-6 years with no adequate explantation provided. Mary’s knowledge of the Asian markets was unparalleled and although her understudy had been with her for approx 4 years, her knowledge and experience will be sorely missed. It remains to be see how the performance of EAI will be affected or if this departure will lead to the winding up or de-LIC-ing of EAI. I have never worried about the discount to NTA, as long as Mary was at the helm. Now that she isn’t, it changes many things, most importantly the confidence in EAI and it’s management and future investors preparedness to buy into EAI. It was a great exposure to the Asian sector of the market without having to go into a managed fund. The “resignation” certainly was “hidden away” in the text and IMHO certainly deserved to be market sensitive. A kick in the guts !
EAI Price at posting:
$1.16 Sentiment: Hold Disclosure: Held
