Another option is for the LIC to be wound up. The Australian...

Another option is for the LIC to be wound up. The Australian Leaders Fund (ASX:ALF), a long/short Australian equities fund of whom the directors include industry doyens Geoff Wilson and John Abernethy, is the latest to come under attack. Lamenting the atrocious performance of ALF over the last five years, disgruntled shareholders Rob Ferguson and Malcolm McComas placed a half-page advertisement in yesterday’s Australian Financial Review. Under the heading: “Memo to Geoff Wilson& John Abernethy: Be fair, ALF has failed, give shareholders back their NTA”, it calls for the election of Ferguson and McComas as Directors at the forthcoming AGM and to give shareholders redemptions at NTA.

from Paul Rickard of the Switzer report....

Note the description of the performance as “Atrocious”. Couldn’t have come up with a better way to describe it myself !

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