I'm glad they came out with an update and to put a timeline in...

I'm glad they came out with an update and to put a timeline in there, gives me confidence the team are listening to the concerns of shareholders.

I'm optimistic they might wind up the fund. Current performance has been horrendous for a market neutral strategy (how they plan to recapture the drawdown in the last few months) and the star stockpicker that they had when they launched the LIC has left the business. They tried to merge this with the Bennelong funds a while back but that didn't eventuate either. So it really leaves a few options in my mind.

1. Windup
2. Return of capital - this will let some large holders exit but will leave the fund as sub size so it might as well be wound up as discount will likely be bigger.
3. Merge with another - most likely WAM however WAM still suffering a bit of indigestion from their acquisitive spree taking out OZG WIC. Market conditions not helping either.