Why?, page-3

I have a limited experience with funds but from what I have observed the sp and nav of a fund are usually closely aligned. Often the sp is at a slight premium. However with AGF the sp is trading at a 35 % discount, a huge discount, possibly 25 -30 % off the real value. I would have thought a falling AU$ would at the very least support the current NAV. However my thinking must be wrong. Could someone please point out to me what I'm overlooking? I've got a hunch that I'm going to feel like a goose!