If the fund went to 100% cash today and paid out the proceeds to...

If the fund went to 100% cash today and paid out the proceeds to shareholders then investors who bought today would receive more than 50 cents per share profit because the NTA-SP discount is now more than 50 cents.

I had thought that the tide was turning and bought back in again last week. Silly me. I mistakenly thought that the fund managers had been doing more to stop the rot, but the NTA fell yet again last week.

The SP continues to fall faster than the NTA. Many want to sell because the NTA keeps falling. The NTA keeps falling week after week after week because the fund managers simply won't bite the bullet and get rid of the dog stocks in the portfolio. Drastic action should have been taken long ago.The discount is gradually increasing because the SP is falling faster than the NTA. Current indications are that HM1 has become so unpopular that the discount will soon exceed 20%.

There is a huge potential profit for investors in this stock because of the huge NTA-SP discount, but only if the NTA changes direction. In my opinion, there ought to be rule that HM1's fund managers would automatically be replaced if the fund underperforms the market by more than 10% in any three-month period. (Which might cause a very high turnover of fund managers at HM1, but this could be what is needed.)