I attended the 6th Annual General Meeting (AGM) of iCapital.biz Bhd (ICAP, 5108) as well as their 1st Investor Day today 14-8-2010. 14th August in Chinese (一世发) means "A Lifetime of Prosperity".
As usual, this closed-end fund is very considerate to its shareowners to conduct the AGM on Saturday, so that working people don't have to take leave to attend it.
The AGM this year was held in KL Convention Centre. 3 halls were taken, 1 for the AGM, and another 2 for the Investor Day event after the AGM.
These are the crucial benefits and priviledges of investing in the closed-end fund of ICAP from unit trust funds:
- There is an AGM every year, and EGM(s) when needed. Investors can interact with the fund manager as well as question him on his investment decision.
- The fund manager will disclose the latest full portfolio to the investors, rather than just the "largest holding shares as of several months ago" by unit trust fund managers.
- The fund manager will explain his investment view and strategy to the investors.
- There is chance when the fund is trading at a discount to its NAV, which is in favour to the investors as they can buy at a cheaper price.
- Investors can vote for the issues and matters tabled in the AGM/EGM.
- Investors can ask the board of directors, face to face, on anything in the report, especially the financial statements.
Unlike the previous year where ICAP had a bullish view in Malaysia, this year, they are more cautious and have a more pessimistic view. If you have listened to the talk by ICAP, you should have sensed this too.
The door-gift bag this year has more things inside, including:
- 3 pens
- A Padini 20% discount voucher
- A pair of Royal Selangor chopsticks
- MSC key chains
- Fisherman's cap
- iCapital.biz printed version newsletters
The overall event last for one whole day. AGM started from 9am until 12pm. We are then given a pre-packed lunch box and a bottle of water. Investor presentations and talks started from 1pm until 6pm. There was even a lucky draw session at ICAP booth by 6pm.
I'm looking forward to attend the next AGM next year.