WAM NTA premium contraction is bringing the price back to earth a little. Was bound to happen eventually, can we get to fair value or better? https://cuffelinks.com.au/wp-content/uploads/IIR-Indicative-NTA-Report-16112018.pdf
I don’t follow WAM but it seems strange as Bell Potter have it at 20.3% for the same date ending 16/11: Not an LIC I’d buy at any price for that matter. @SatayKing might however. https://cuffelinks.com.au/wp-content/uploads/LIC-Weekly-Report-Indicative-NTA-16-November-2018.pdf
@Hodor thought I’d check WAM’s premium to solve the mystery and saw this in Wilson’s address to shareholders on 20 Nov: https://www.asx.com.au/asxpdf/20181120/pdf/440g6q8jhddfbd.pdf
Now, now @Nodrog, it's not as bad as all that. While I no longer hold any of that particular manager's LICs, many do so I wish them well. It's a trader and an activist so, yeah, it's doing what it's charged to do and probably doing it well. I don't know as I don't follow much at all outside of what I hold and even little in regard to those. I disposed of the LIC, and made a reasonable capital gain as a consequence, as it simply didn't sit well with my attitude and personality. In a way, I suspect I have chosen my holdings in LICs which suit that aspect. Plus I don't like people making loud noises unless it's me cranking an amp up to max. I prefer where possible for the managers to have skin in the game for sure but not to also have performance fees on top, especially where they have an interest via the management company. Yes, there is a conundrum there as I hold WHF but it isn't a 1% plus performance fee.
Yes, my post was meant to be a joke but I can see how it could be taken in poor taste. Back into my box.
