@AllFuelledUp
I think the NTA should always reflect the effect of new issues dilution, unless they tell fibs. If its accurate its the only way to see the result of the managers actions on the shareholder. Its the scoreboard as far as I'm concerned.
CTN has gone from 28M shares in the float to 161M shares now. The dilution they have caused to existing shareholders along the way is reflect in their last published NTA. One would hope that the increase in number of shares has reduced their costs per share, so increases NTA per share.
Anyway, I have had a whinge at some LICs about issuing new shares at a discount so I won't repeat it here.
Happy investing
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