Whilst LICs must be viewed as a long term investment, it is a bit alarming where this share sits now. At today's closing price of $1.04, those who invested in the IPO are down nearly 6%. On average, after the first year you might hope for a 4% dividend, and maybe the share price holding. That would effectively be total value after one year of $1.14 (SP + dividend).
Given today's closing price, there's a hell of a long way to go, just to break even. In the meantime, the manager's fees keep rolling in. Evn after disposing of the attached options...
In hindsight, this is for dummies... Of which I am one. I've disposed of half my holding at a loss, and can't see how this can suddenly take off.
You can see how many funds are rushing to market, because it's guaranteed easy money for the fund managers!
APL Price at posting:
$1.04 Sentiment: Sell Disclosure: Held
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