I understand capital caps, but capital allocated to the LIC could have easily been reserved for the unlisted fund. I think the LIC is more about public visibility than about the best interests of fund investors. I can only hope that all the IPO preparation hasn't affected fund performance - L1 fell in line with the XJO in Feb in its largest drawdown so far, and has yet to recover the losses.
High to date - 25 Jan: 1.2817
Drawdown - 9 Feb 1.2142
Latest close - 13 Mar 1.2554
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I understand capital caps, but capital allocated to the LIC...
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