Ann: Assignment of Contango MicroCap Limited mandate, page-16

Hang on. I've just read that NAOS aren't actually a Microcap manager, this just gets more ridiculous!

6 months after taking back from OC - because they said they were themselves the better microcap fund manager and capacity was not an issue, CGA off load CTN, because they aren't a microcap fund manager any more, and capacity is an issue

So lets read the CTN statement about NAOS

>NAOS specialise in providing genuine, concentrated exposure to emerging, small and mid-cap companies with an industrial focus, and view success as achieving returns for shareholders, over a five year period, better than and without correlation to the broader market and with less risk of permanent capital loss

>emerging, small and mid-cap companies with an industrial focus

HUH, NAOS AREN'T EVEN A MICROCAP MANAGER!?

>with an industrial focus

MICROCAPS ARE OFTEN RESOURCE COMPANIES TOO.


>....with less risk of permanent capital loss

WELL THAT'S DEFINITELY NOT MICROCAPS


Someone's having a lend of us here. Come on BooBoo, whats the real story?