Ann: Blue Sky Alternatives Access Fund NTA Report, page-26

Company says it’s assets are worth 1.83 per share
On a statutory basis

2.23 on an underlyIng basis

Details from their last financial report posted above

Shorts and many in market are calling into question the underlyIng valuations which underpin this asset per share figure

Notwithstanding the above, in simple terms the market is still paying $5.24 as of yesterday for for 1.83 of assets- as an asset manager imo the price should t be too much higher than the asset value declared unless they are ripping off larger than expected capital profits on investments and fee income business is growing consistently - is it all big enough for people to be paying 286% premium over book value?- probably not sustainable imo with so many examples of consistently revalued assets in one direction and businesses with growing losses of which bla is part invested in having questionable carry values


Is suspect this share price at current levels is as a result of short covering/ shorts taking profits, something that supports prices in the short term

See graph below, expect another move lower imo as the premium
Being paid over declared asset values is too large given the calls and questions on valuations and the large drop in shorts- I’d expect them to reload given the price to assets is so much lower in the absence of some serious demonstration by the company that it is realising assets above carry values

Time will tell- good luck