Wilson Asset Management is in one way or other invested in 14 LICs. And surely every one of them is now on notice, given Geoff Wilson's recent appetite for takeovers and other agitations.

He's trying to take over Nick Bolton's Keybridge Capital. He narrowly failed last week in a vote against a change of manager and investment style at the Mark Kerr-chaired Contango Income Generator. And he's offered shareholders in the Concentrated Leaders' Fund, which trades at a substantial NTA discount and is chaired by LIC stalwart Brian Sherman, 3.7 WAM Capital shares to every 2 CLF shares, as part of an "attractive exit opportunity".