Hi Pat, Hi all. I have both RF1 & LSF in RL.

To have a go at your question 'The bigger question was why was it trading at such a big premium? Why pay a 18% premium to NTA?' I'd guess because the track record is Bradmanesque - folk will pay for outperformance. As for LSF, it was a bit of a hate sale for a brief golden window following early underperformance - that worm has turned. My prediction is that the capital raise will be very well supported. I'll apply for extras and I expect to get very little there.