Barney said>>>>As you note if the returns do exclude dividends...

Barney said

>>>>As you note if the returns do exclude dividends (it is sloppy work to not say in the report), then they do so for all LICs, and while it might improve their relative performance by a 6% over three years (High CTN dividends approx 6.5% vs market dividends approx 4.5%), this is still not a happy picture


.......Refer comments above about apples and apples
Also, I found this- go to
http://www.asx.com.au/documents/products/June_-_2013.pdf
found on this page http://www.asx.com.au/products/managed-funds/market-update.htm

Shows CTN 9% grossed up yield last year.


>>>>>I am always surprised when I see how difficult it is for "experts" to out-perform or even match the market. I take it as reassurance that index trackers(2/3 of my p/f) are a reasonable choice.

.......I agree. I think ETFs will start getting money in large cap land.
But I can't look past LICs
Also, you can't get an index for microcaps.
Too many stocks
And their performance (as per the quarterly newsletter)
http://www.contango.com.au/ctn_contango_microcap_reports_quarterly.php
15% per annum over 9.5 years vs All Ords of 8%




>>>>Perhaps as the All Ords becomes "fully valued" as they euphemistically say, small ords and CTN may start looking attractive


.......Amen. Lord I hope so. How long have we been waiting for this?
The last 2 months the portfolio did 16%. This month looks good again
Sadly, the share price has not gone up as much

Although I just checked- went from 98c to $1.06 today and paid a 4c half franked dividend.

So 110/98 = 12% for the 2 & 1/2 months

All the market is up over this 3 months as well.

Still, I'd prefer +12 than -12



Last NTA shows 6.3c worth of dividends next 12 months

So 6.6/106 = 6.2% yield before franking

Is currently at a discount as well, so more margin to pick up a few cents there


With a few good months the options come into the money too