August NTA - 7.5% Growth Capital Fund Writedown

Did anyone else notice that after recent revaluations the Growth Capital Fund was written down by $3.51 million, basically 7.5% of the value of the fund?

No explanation was given for the writedown in the monthly NTA email sent out to shareholders, so I'm wondering if any holders in this thread are aware of what this might relate to? Also was this telegraphed ahead of time? I don't recall any earlier correspondence from BAF managers indicating a writedown of the GC fund was likely due to X events.

This is the problem with the NTA discount on BAF. How can it possibly be reduced when unlisted assets can be written down by 7.5% in one month?

Aside from issues around BAF management and the question of will BLA funds owned by BAF be closed and assets sold, LIC's like BAF will always trade at a reasonable discount to NTA because there is always the possibility that unlisted assets can be written down at any time.