True from a NTA perspective ... but it needs to be remembered that sometime in the future the shares held by Linq2 will be re-sold to the market. That will increase units by around 45% from the current number, and if the current discount to NTA remains they will be sold at around a 35% or 40% discount to NTA - which will have a substantial dilutionary effect.
Also, the current NTA is at an all time high, but the unit price is a good 25% or so below its all time high. The hedge funds were paid in the mid $1.50 range.
In some ways it looks good, but in others shareholders are still behind.
MJS
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