Back to issue price, page-84

The problem is that in the monthly NTA report they list the top 20 holdings but not the % allocations so it is difficult to ascertain an accurate value of the fund until the report date which is provided at least 10 business days after the NTA calculation is done and therefore you can be up to 6 weeks behind what the valuation actually is. Considering Geoff Wilson is always harping on with regards to protecting the interest of shareholders, accountability, and transparency it is not a great look. The MER for this fund appears acceptable, the dividend is good and the profit reserve is also good considering the length of time the fund has been in operation. Is the discount to NTA enough to justify a purchase or a hold of the stock given the other considerations around staff and the current market malaise? If you ask the question and cant calculate the answer, then the answer is probably no. I am guessing the NTA is currently around an 18 to 20% discount. I will continue to hold my position at present which is currently at an 11% loss ( dividends included) it has been a poor investment to date particularly relative to some of my other holdings that I am sure the Wilson Team would not consider. Sorry Geoff I am starting to lose faith, in the last few years it seems the major focus from Wilson's appears to have been to build up the FUM. Fair enough I understand but now is the time to go back to focusing on portfolio management, stock selection, retention, and hiring of quality staff and a little more disclosure of the actual holdings would be nice. I know where I stand with PIC, MFF, WHF LSF but with you I am always guessing.