Get it back to even a 10% discount and I am dumping every share!
A lot of damage has been done to the L1 brand. I am not sure there is a road back to redemption for a fund that has caused so much disruption to the closed fund sector.
The only positive out of the float of LSF - was it prevented another 100 LICs from being flogged to mums and dads. It was the final wake up call to investing in closed funds at the float.
Sadly, there is never a reward to bankroll a LIC or LIT...
Just to think not that long ago they expected investors to also cover the costs of the float... instant drop in NTA. Shakes head...
Add to this... the final insult to investors.
Performance fees based on no performance hurdle. No sufficient benchmark. What a disgrace.
Greed...
LSF - the closed fund that broke the closed fund model. Well done.
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