discount to nta, page-3

Thanks Gocu, I suspect it's a dividend thing. The yields on some other LIC'S are all quite close eg GMI,4.5 AFI 4.5,MLT 4.5 ARG 4.3. The nta of LICS are based on the market value of their portfolios so goodwill doesn't come into it.What intrigues me is that the SP of GMI is historically at a deeper discount to NTA than many other LICS. GMI did cut their dividend more than some of the others due to GFC, so that when their dividends return to more normal levels discounts may be closer.An interesting aspect of GMI is the extent of their buybacks. They are buying back their own shares at 16-18% discount to the shares nta. This should lead to outperformance over time. Ive held since around listing, am happy to be holding a such a great diversified portfolio. bIVA