I figured the rise up to $1.58 was a vote of confidence in...

I figured the rise up to $1.58 was a vote of confidence in Magellan, probably funds that want to have LICs like this making up a portion of their portfolio are picking it up and probably a number that didn't get as much as they wanted in the IPO.

It was interesting to see the NPV reported today is already up just a few pips over $1.50 because I wasn't sure how much cash they had invested to date.

The other LICs I follow tend to trade at a premium of up to 35% above NPV but others can trade below NPV at times so I think the art form with LICs is making sure you are in one that the market embraces.