Yes it's frustrating... we have discussed the reasons for it...

Yes it's frustrating... we have discussed the reasons for it several times if you go back over previous threads.

SP got well ahead of NAV and NAV is taking longer than expected to catch up. Yield is currently too low to justify a higher SP so until it picks up the SP will probably continue to languish. INA doesn't really have 'big ticket item' announcements to send the SP breaking out again, they just have small purchases of a park here and a park there.

So it's just treading water for the moment. Once the returns from these purchases kick in and start compounding we should see real earnings growth and that will be reflected in the SP. But you're looking at a timescale of a year or more rather than weeks or months. Most of the assets they're buying have IRRs in the 10-15% range - that is a great yield when you compound it over 10 years or so, but it does take a while to take off.

Next results announcement in August will be critical - if Simon Owen and the crew have done their sums right, we should start to see that acceleration in earnings IMO.