I cant see any problem in holding shares in AYT as an unlisted entity. As long as I am prepared to wait for the capital returns over the next few years.
My reason for holding to the end are
1.The fund manager is sound . 2. They are doing what they said they would do. 3. I would expect the majority of the capital return to come sooner than later. ( they already have 1.5 cents in cash at 30 Nov. 4.They have a history of being conservative in the NTA. Just look at the last movement in Nov 5.There is a potential increase in recovers post the court case. either from the borrowers or Adelaide and Bendigo Bank 6. INE are keen at 4.8 . Must be more in it. 7. Its a simple affair . collect loans and give capital returns. 8. It just comes down to a judgement on the evetual capital return, the time cost of money and whats been put on the table(4.8).
I was a buyer at 3.6 and am a buy at 5.0
I hold no share in INE only AYT
AYT Price at posting:
5.0¢ Sentiment: Hold Disclosure: Held
