Stockpicker Steve Johnson says investors are turning their backs on listed investment companies and trusts for good, as he revealed plans to delist his $144 million Forager Australian Share Fund from the ASX next year.
The decision sent the shares rallying 9 per cent to $1.33 on Thursday and followed a sustained period of the fund trading at a more than 15 per cent discount to net asset value.
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Sarah Jones is the markets editor at The Australian Financial Review. She is based in the Sydney newsroom. Connect with Sarah on Twitter. Email Sarah at sa.jones@afr.com
Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
