I agree with you when you suggest that CIN's discount to NTA can be largely attributed to its significant holding in AHD. Although investors may not necessarily see AHD as a risky investment, they choose to invest in LICs for diversification, and if more than 25% of their investment is tied up in one stock, then the LIC loses its appeal.
Not sure you can draw similar conclusions with CHO, however: its largest holding (SOL) is only about 12% of its total portfolio.
Back on CIN: I also start to get a bit worried when the biggest investment is in a company run by the same people (+/- a few extras) as the LIC itself.
aui leading the charge for calendar year 2009, page-7
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Last
$10.50 |
Change
-0.040(0.38%) |
Mkt cap ! $1.300B | |||
| Open | High | Low | Value | Volume |
| $10.55 | $10.59 | $10.46 | $111.6K | 10.58K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5000 | $10.52 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $10.64 | 4450 | 1 |
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| AUI (ASX) Chart |