Ann: Successful launch of Quoted Managed Hedge Fund today, page-2

The new listed/unlisted vehicle announced today is a milestone event in the PTM restoration of FUM and rebuild of its future income based.

It complements the defensive fund positioning that has seen a significant outperformance of the MSCI over 1,2 and 3 years, all achieved over the last 9 months as a result of its non-US, contrarian active management style.

After a long haul in the red, my personal investment is at break even. 3 months ago, I had planned to sell down my very overweight holdings to raise some cash and reduce exposure to PTM. Today, I am resetting my starting exit price 15% higher as I expect this investment may be one of my most defensive and best performers over the course of 2023.

I will be making a significant investment in the new fund as its methodology has been well telegraphed before now. I expect I will first buy the new unlisted fund where NTA =unit price. If the listed entity share price drops below NTA, I will arbitrage the difference in pricing to my advantage as any prudent investor would.

I for one, have been awaiting today's announcement so we move forward rather than look backwards.

Each to their own, this is not advice.

GLTASH