Can anyone explain to me why VGI use a completely different definition to pre and post tax NTA than any other fund, or what is defined by the ASX disclosure rules.
For example, their pretax NTA figure is quoted as before any tax. Yet, the correct definition of pretax NTA, utilised by the masses, is after taxes on realised gains has been expensed, but before allocations for unrealised gains/losses.
Even more confusing is their definition on post tax NTA which omits tax on unrealised gains/losses. Yet, this is the whole basis of post tax NTA. To understand the net worth of the whole fund was wound up and all gains realised and taxed.
Am I missing something?
VG1 Price at posting:
$2.25 Sentiment: None Disclosure: Held
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