Just responding to James North's incorrect statement that performance fees have been charged - they have not been charged, because they have not been earned - also, new innovative equal access buyback announced to deal with discount to NTA
well done Livewire - an insightful event with both interesting and divergent views - great to hear the views from experienced fundies who are in the market each day versus the so called 'media experts'!
well done Metage! It is unacceptable for LICs to trade at such discounts - the problem is that managers like AMP focus on their fees and not on what is best for the LICs shareholders (preferring to reward their own shareholders). It shows that AMP is more concerned with short term revenue maximisation versus building goodwill with its LIC shareholder base that would allow it to raise more capital in time, but who would support them now? You can count my shares in for a vote to roll the management team - the underlying performance has been very poor in any event.