3 ways to clean up this mess - constructive suggestions to narrow discounts to NTA

Rodney Lay

Risk Return Metrics

In the September 2020 LMI Monthly we dive into two topics.

First, an article provocatively entitled ‘3 Ways to Clean Up this Munted Shitshow’ examines what LIC/LIT managers and boards can do in relation to discount control mechanisms to act in the best interests of investors. Despite the attention grabbing headline above, this article has the express purpose of making a range of suggestions to ultimately improve the health and prospects of the Australian LMI sector. If the UK market provides an indication, the sector can not only recover from its current malaise, but prosper.

The second is a deep dive into the Australian Commercial Real Estate (CRE) private lending market, relevant to QRI, MXT and MOT. The key conclusion is risks and opportunities abound, but investment manager selection is key. As Warren Buffett famously said: “It’s only when the tide goes out that you learn who’s been swimming naked.”

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Rodney Lay
Risk Return Metrics

Investment analyst with particular experience in listed and unlisted investment strategies, equities and structured products.

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