I agree. We need a long term focussed fund to build a reasonable position who are going to hold until the outcome for NNZ-2591 is known similar to what Karst Peak capital did during our inital re-rate from a pre-revenue company with no approved products to what we are now. I would argue that whilst the total return from here may not be as high as it may have been from back then, the risk adjusted return is much more favourable.
We used to have funds like Milford owning 5%+ and they probably don't own any shares now but I don't know how I can check that. Given how woeful their Australian growth fund has been performing (relative to the index) I would imagine they would be under immense pressure by investors and that may have been why they sold down NEU despite being positive on them overall.
NEU Price at posting:
$11.50 Sentiment: Buy Disclosure: Held
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