Closed funds... nothing else to be said. They are on the nose of all investors... You can argue about the stable dividend flow, ability to prevent mass exodus of capital in market downturns as much as you want. The bottom line is fund managers love them because your capital is locked in... they don't bear the risk of premium/discount flows and charge a premium.
If you are willing to pay a premium... you also have to be willing to accept a precipitous drop in share price, should market sentiment change. I am a big fan of Wilson Asset Management, but it doesn't take a genius to realise the massive premium held by WAM has been unjustified for some time now.
Chart, page-37
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Last
$1.51 |
Change
0.010(0.67%) |
Mkt cap ! $1.675B | |||
| Open | High | Low | Value | Volume |
| $1.52 | $1.52 | $1.51 | $632.3K | 418.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 21232 | $1.51 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.52 | 52425 | 4 |
View Market Depth
| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| WAM (ASX) Chart |