Century will remain as it is, just with GW directing its...

Century will remain as it is, just with GW directing its investments rather than someone else.

The average premium of last trade vs NTA for GW's other vehicles is about 15%. WAM is about 20%, WAX about 15%, WAA about 10% (incl WAAO). Take the average of 15% and CYA should be at about $1.02. And, it has valuable tax losses which the WAM/X/A vehicles don't, so it should be higher again. FD is definitely a buyer at 90c.