Performance has been pretty poor, and high fees not justified. The poor performance is even worse when you consider that it has never paid a dividend and they use leverage. LICs are on the nose, and FPC has nothing to recommend it. I averaged down after the float and am nearly breakeven, but in hindsight it was a dumb investment. My thinking at the moment is that I’ll cut and run when I’m in the black. Better value elsewhere and Angus and FP in my view have lost their mojo these past few years. My preference is that they wind up FPC and return capital, but why would they do that when those fees just keep rolling in.
FPC Price at posting:
98.5¢ Sentiment: Hold Disclosure: Held
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