the only value I can see in the LIC space

Hello all,

As you would know by now, I am pretty keen on LICs for an income stream and hopefully my dream of setting up a Habitat Restoration fund one day, funding local regeneration and re vegetation projects.

I have been investing in quiet a few LICs over the past 12 months, but right now, after the recent Greek relief rally, I am struggling to much value in LICs with yields over 5 percent. Many are again at premiums to NTA, that were at discounts, such as ALF, WAX, CDM, CTN, WAM, and WAA.

Currently, with a few k left to invest, I can only see value in WAA, but with such a small market cap and recent underperformance, I am unsure. On one hand, it seems cheap at 99 cents, and if Geoff can turn it around, then it may rise and start paying dividends again. On the other hand, it has low traded volume, will need free oppies to grow in size, and holds alot of cash (not good in a rising market).

Any thoughts on whether WAA is the best value around in LICs with a larger yield, ie 6 percent upwards? WAX was firmly on my radar, but is now well over NTA.

Thanks