re: on the move-march nta Having said the above, I have invested...

re: on the move-march nta Having said the above, I have invested in many LICS over time, and have found the following trends -

They tend to underperform NTA badly in the first 12-18 months after listing, and then recover (WAM,WLS, VTP,HHV) to name a few.

LRF is a year old so should be comming to the end of this..

The marklet can take some time to recognise the discount and re-price, but once underway a good trend is usually available.

The sector LRF operates in makes the LIC vechicle very attractive, compared with direct investments.

The discount is way too much in my view (even assuming a pre-tax NTA is what is being published as LRF do not make this discinction)

Taking all the above on board, I have bought a few today, (a few LRF and LRFO)

For the record I estimate end April NTA @ $1.31, based on today prices for investments, meaning the pretax discount is in the order of 45%.. For resource based investments this is a much better way to have exposure to CUO, OEX, URL, etc...