Plans are for WMK to convert not ALF... Lucky ALF will remain...

Plans are for WMK to convert not ALF... Lucky ALF will remain listed and in the hole.

This guy is so desperate to be a fund manager.. They could have just wound it up and returned money at NTA instead moving it back to an unlisted fund (which will incur transaction costs to holders) in the hope that a few crazy people won't redeem and he can keep charging them management fees.

If I owned any of their three products and got offered a chance to cash in at NTA, I would take it and run for the hills!