Geoff was obviously on record that he will convert all Wilson LICs to trusts to negate the labor's initiative with conversion costs covered by the manager... The pre- and post-tax NTA are not that much different here, so extra tax payable looks quite bearable. My theory is the post-dividend combined with post-election weakness could be a good time for a top-up especially for a LIC like WMI which doesn't have the premium of WAM and WAX, but last i checked profit reserves were comparable to WAX.
Of course there's still uncertainty of the mechanics of how it would work from there, I was hoping that would be touched on the last conference call which i still havent got around to listen to the recording. Looks like a trip to the preso in May could be in order.
WMI Price at posting:
$1.23 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)