Ann: Daily NAV, page-33

goodie; I suspect you have neglected that FOR went ex a 21 or so cent distribution during the last three months. If you take that into account the share price has declined about 14%, mainly due to the premium disappearing. One would assume this is due to existing holders selling at market and buying back in via the lower issue price. If you take 'value' as meaning the NAV, then the decline has only been about 3% by my calculations.