A goodbye payment earmarked for the manager of listed investment company Contrarian Value Fund, Arowana, has raised the ire of Staude Capital which has written directly to the LIC's shareholders inviting them to sack most of the board at an upcoming vote.
The Staude Capital-managed Global Value Fund has accumulated a 15 per cent stake in CVF. It unsuccessfully sounded out CVF's interest in a merger in August.
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Vesna Poljak is the Companies editor. She was previously the Markets editor with a special interest in the investment industry, hedge funds and accounting. She is based in the Sydney newsroom. Connect with Vesna on Twitter. Email Vesna at vpoljak@afr.com
