My gut feel however is the punters that would normally pay 2.29 for WAM today for a long term hold, wouldn't have the faintest about what is going on with AYS. Most of the WAM new buyers at 20% premiums just look at yield on offer and almost nothing else. I don't have much to back that up, just my 2 cents.
Ann: WAM increases offer consideration, page-21
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