Please Explain, page-25

Agree JS, its just very tiring reading the long winded explanation of what went up and what went down during the month, knowing that ALF went absolutely nowhere for the month and we shareholders probably paid a fair whack for the privilege. I feel as if I’ve been highjacked and I can’t see any way that things are going to change for the better unless a new manager with an entirely different approach takes over the management or the thing gets taken over. As an aside, i cant see why Geoff Wilson of WAM wouldnt take over management of the fund.... a. He cant be getting anything out of ALF the way it is presently run..... b... it would be a good way of increasing funds under management and increasing WAM management income, C.... fund performance would have to increase under WAM and, d..... every shareholder of ALF would probably sent Geoff a personalnote of thanks for his concern of current shareholders. Oh... and he would be picking up assets at a discount. What a winner he would be ? Sighhh.. we can only wish !