Tetragon
I bought shares in Tetragon in 2017 when they were on a substantial discount but their performance in their sector had been good. Since then the discount has grown and the relative performance has declined. Shares in Tetragon are non-voting so shareholders have no ability to press the Board or the investment managers to take any action which would improve the price. There have in the past been tender offers to buy shares back but they have had little impact on the share price. I am left wondering whether the managers have the right incentive to reduce the discount as, at the moment, shareholders would clearly benefit from a winding up.
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