Ann: Weekly Net Tangible Asset (NTA) Update, page-2

I bought some for the first time today. They are a proven good manager, fees are not outrageous for an LIC of this variety. The discount to NTA is abnormally wide I believe. Good for investors wanting international exposure and investors recently have been given a reminder that a portfolio of 4 banks is not a one way bet and they need to consider more international diversification. Compared to the prices of other comparables such as MFF, PMC, TGG, HHV I belive this one stacks up the best with the current discount to NTA. I think the discount is being overdone because many are probably excercising options and this may be reducing some demand from holders who may otherwise top up on market. I think once that is out of the way the discount can narrow in the 3rd quarter.