Glad I sold on 14 Feb.TGF NTA is little changed so far from Jan...

Glad I sold on 14 Feb.

TGF NTA is little changed so far from Jan 31 but share price down from $1.84 to $1.73. It will fall further if NTA starts dropping again.

- One of the two, long-term portfolio managers, Craig Evans, resigned on 18 Feb effective immediately.

- Coronavirus impact according to Jan 2020 monthly report:
<<
Of course, the timing of any virus outbreak is never ideal, however, the fact this virus outbreak occurred just days before Chinese New Year, a period
where the industrial economy is largely closed for a week will likely lessen the overall impact on the economy. While it’s too early to understand the
ultimate economic impact of the Coronavirus, one thing for certain is that growth forecasts have already been materially downgraded for the first
quarter. Factory workers have returned to work this week and we expect a ramp up in activity over coming weeks. There is also the potential for
stimulus from the Chinese government to protect growth. The lessons learnt from previous viral outbreaks, including SARS, MERS and Ebola, are that these are buying opportunities and once the virus is contained, the potential for fast moves upwards particularly for commodities are likely. We have chosen to not materially change our positioning away from oil and copper related equities where we see material upside in 2020.
>>

Bad call to ride through the coronavirus impact with highest net exposure ever. Indeed, their exposure positioning and analysis above indicates why one should never just trust a fund manager with all types of calls, and buy and hold such LICs. If you strongly disagree that the coronavirus will have only a brief impact then you need to act yourself to reduce exposure and buy back in later.

If fund managers aren't able to do their own research on things outside their expertise like the coronavirus then they could at least read the news: https://www.bloomberg.com/asia

Or just listen to different views on their commutes to work. E.g. https://www.youtube.com/user/ChrisMartensondotcom

Btw, Affluence probably over 15% down on their average price now. Might be time for another pump and dump to try and exit!