arg vs aui

ARG and AUI, both fine LICs, closed with almost equal share prices today (ARG at $5.99, AUI at $6.00). ARG's most recently announced NTA was $5.32, compared with AUI's which was $6.02. Since these NTAs were announced, the ASX200 has risen 2.9%, so assuming an equal rise in the NTA of the two companies, we can estimate the following:

ARG's current NTA: $5.47
Premium: 9.5%

AUI's current NTA: $6.19
Discount: 3.1%

Why buy $5.47 worth of asset for $6, when you can spend the same amount and receive $6.19 in assets? As Buffett says, "price is what you pay; value is what you get". For now, I'd put a HOLD on ARG and a BUY on AUI (though, of course, a 'long term buy' on them both).