I would be interested in getting people's ideas on how to value WAM Microcap, as I am really struggling to understand how to do valuations.

In this case, this LIC has a March NTA of $1.56 (after tax), which makes the valuation in that sense pretty straightforward. However, its also got a track record of 21.6% pa growth since inception (June 2017) and I would be reasonably confident that they will continue to outperform their index.

As a long term investor, what would be some options to value a LIC where you thought they could outperform an index over a longer time period?

Disc: Held.