The rubicon trusts are so frustrating.Based on the publically...

The rubicon trusts are so frustrating.

Based on the publically announced information, they have done all the right things (unlike Centro) and have a long debt maturity profile, little near term refinacing needed, hedged forex for distributions back into A$ for some years, and have an interest cover that is at least acceptable currently let alone the longer view.

If shareholder value is top of mind (as it should be) and they can't seem to move market perception and recover the discount to NTA in the share price - then the directors should bite the proverbial bullet and set about an orderly, non-firesale disposal of assets and periodically return capital to unitholders.

Flexi Property Fund did this a few years ago and returned $1.40 plus interim distribution when the share price was languishing at around $1.10.

The directors felt they couldn't outperform sale and capital return - so thats what they did. Honourable approach at the expense of their ongoing manangement fees rates highly from me.

Any alternative views to support the hanging on and hope that sanity will eventaully prevail?