I was one who voted AGAINST the original decision to list the unlisted managed fund into a LIC.
As I wrote to Steve Johnson, it would be likely that a LIC with a small market cap, and consisting of microcap stocks in unloved sectors of the market, would most likely sink into a sizeable discount to NAV to the detriment of us holders who bought the managed fund at NAV.
Steve disagreed.
I was right, Steve you were wrong.
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- Ann: Update Regarding FOR Discount to NAV
Ann: Update Regarding FOR Discount to NAV, page-7
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