I think these guys would do well to differentiate themselves a little bit from similar LICs. Argo and AFIC have the same style of portfolio and are more well known so will always get a larger share of the retail money. Obviously the constant unjustified SPPs won't be helping sentiment (I have held AFIC for just over 10 years and can only remember one SPP in that time) there performance levels are ok but not excellent and they will probably be weighed down by the banks in the short term.
Ann: BKI Announces Entitlement Offer and General Offer, page-13
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