Hi Folks
Obviously I have no talent at accountancy, but I can do sums.
CTN was floated in 2004 at $1, and in 2007 in an earlier SPP held a 1 for 2 rights issue priced at $1.75.
How would you calculate that the fund has been delivering an average 26% annual return when in reality if you had been an original investor who took up the rights issue in 2007 (which was issued at a big discount to the SP) you would be showing a healthy loss if you sold today?
return our cash!!!, page-22
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