FPC fat prophets global contrarian fund ltd
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I converted all my holding in FPC to FATP, and exited FATP...

  1. Gongboy
    900 Posts.
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    08/03/22
    09:26
    Post #: 60049561
    I converted all my holding in FPC to FATP, and exited FATP yesterday.
    I got less units in FATP than I had in FPC, but the conversion realised a gain of about 5.5% of my capital based on the prices of the two entities yesterday. The conversion gave me around $1.15 / $1.16 per FPC share, which was better than the market price of FPC. This was probably around the post-tax NTA of FPC (which of course we don’t know) less 3%.
    The whole process was opaque. I’m yet to see how it was calculated.
    The NTA of FPC and FAPT shares are clearly based on different methodologies.
    Anyway, glad to be out.
    FPC Price at posting: $1.09 Sentiment: Hold Disclosure: Held
    Likes Created with Sketch. 2  Upvote
    lightbulb Created with Sketch.  Great analysis
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