The No 2 account is not taken into consideration for NTA, and hence fees.
The NTA gets periodically audited as per any LIC.
My opinion is that the fees are high, and that combined with past treatment of different shareholders in different ways doesn't encourage serious / larger investors.
In most cases I prefer LICs where the fee is well under 1%. BKI and MLT are my main ones. I have a holding in WIC too ... but don't consider it core.
MJS
LRF Price at posting:
74.5¢ Sentiment: None Disclosure: Not Held
