"Think about it, you just cant have a fund go up 13% ($25m) and...

"Think about it, you just cant have a fund go up 13% ($25m) and pump out a regular monthly NTA !!!"

What?

I like the optimism of a CTN newbie. Management have plenty of methods of making an 1.4 NTA stock worth 0.92.

1) Refuse to do buy backs, these benefit s/holders not management.

2) Offer deeply discounted cap raisings to blackmail s/holders into pouring more cash in. Increases mgmt fees but dilutes s/holders.

3) Fail to do the obvious wind-up (again, against, management interest even though in shareholders interests.

4) Offer a 6% divi, but with a DRP which benefits participants (due to deep discount on NTA) and management.

CTN is a naked case of the Principal-agent problem.

I hold because I want exposure to microcaps and think the managers have the potential to deliver above-market returns. I wish they would apply their skills to looking after share holders, which would engender more funds, rather than blackmailing share holders into contributing.