I largely agree, although the Active arm of WAM has a track record (previously AGF, CYA and HHV, now TGG) of intervening when they see mismanaged LICs, so it could be a factor in time.
Activist GVF could become involved with WGF at some stage, but ALF is less likely.
ALF Price at posting:
$1.04 Sentiment: Buy Disclosure: Held