Ann: Changes to allowable investments, page-33

Anyone watched the latest investor presentation they uploaded recently? I wouldn't say I got a positive feeling about either of the LICs....
http://player.vimeo.com/video/115086151?portrait=0

It does appear that ALF's dividends are in doubt soon unless they start accumulating more profits and franking (Justin mentions the existing ALF profit reserves will probably cover the next 2 dividend payments, and for WMK probably just the next dividend payment).

In what looks like a tough market ahead it's going to take a pretty good year to generate the franking credits required to keep paying these full ongoing dividends I think. I rate Justin and his team but I'll avoid for now until price and/or profits are a bit more favourable.