I took a small position today when it hit 84c. The selling seems to be driven more by poor long-term holders who just cannot take any more pain than any massive deterioration in NTA (although there has clearly been a significant drop).
I was in and out briefly last year on a trade and LSF is not one I am completely over - so I dont claim to have any answers. BUT - I was in the AMP China fund (AGF) which eventually attracted 2 activist shareholders who got the fund wound up. AGF was really good to me - but that's largely because I was buying in and out rather than holding. When they wound it up, it was a real bonus as the discount to NTA disappeared.
With LSF - against the current NTA - winding up could be a viable option to preserve capital and align shareholders' position with NTA. Not saying it's going to happen - but if there is not a turnaround in performance it is an option.
We've come off an amazing multi-year bull run where the fund lost money, into a savage crash where the fund appears to be still losing money. Maybe now is simply not a great time for a large leveraged fund (if there ever is). There is still a solid buffer between NTA and stock price and one way to exploit it is to wind the fund up for the benefit of shareholders.
Just floating it out there...
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Last
$3.14 |
Change
0.020(0.64%) |
Mkt cap ! $1.954B |
Open | High | Low | Value | Volume |
$3.14 | $3.15 | $3.13 | $1.000M | 318.8K |
Buyers (Bids)
No. | Vol. | Price($) |
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2 | 40937 | $3.12 |
Sellers (Offers)
Price($) | Vol. | No. |
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$3.14 | 13918 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 40937 | 3.120 |
2 | 7044 | 3.110 |
7 | 70541 | 3.100 |
3 | 16060 | 3.090 |
3 | 9115 | 3.080 |
Price($) | Vol. | No. |
---|---|---|
3.140 | 13918 | 1 |
3.150 | 111940 | 4 |
3.160 | 34568 | 4 |
3.170 | 8389 | 3 |
3.180 | 19814 | 2 |
Last trade - 16.10pm 22/05/2024 (20 minute delay) ? |
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Last
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Change
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Open | High | Low | Volume | ||
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Last updated 15.24pm 22/05/2024 ? |
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RAIDEN RESOURCES LIMITED
Dusko Ljubojevic, MD
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