merchant funds

Time for a new thread, this is the link to Merchant Funds(CZD largest shareholder)reports.

http://www.merchantgroup.com.au/reports/

If you click on 2013 report and you will see that the performance for years 2012 & 2013 have been less than spectacular. 2011 wasn`t bad when the fund was around $20m. Since then it has slipped to around $10m in unitholder funds.

Given the lack of liquidity in the funds assets, with only CZD
reasonably liquid and in the money Merchant seems to have only one course if it needs money(money in is less than money out atm). It has to sell CZD which comprises more than 50% of the funds assets.

I think the CZD Board should be aware of this(especially David Franklyn)and should be more active in finding a solution that doesn`t hurt the sp and neutralise the good work that is being done with the science. That is assuming the seller that is causing the damage is Merchant Funds. If the science is good there should be others out there (Bio Funds) that might be interested in a line if it became available. This comes back to selling the story and I think that is where the beef is.

Once again only a couple of weeks to the AGM and the opportunity for a vote.