Another undervalued investment of mine is no more?

(How much is a company worth if it ceased operation today?)
Today, a reader sent this to me:

Hi AK, is this related to AAReit har?

http://www.businesstimes.com.sg/companies-markets/property-fund-of-aims-under-attack-from-wind-up-attempt?xtor=EREC-16-1[BT_Newsletter_1]-20170102-[Property+fund+of+AIMS+under+attack+from+wind-up+attempt]&xts=538380

AK says:
This is not about AIMS AMP Capital Industrial REIT. It is about AIMS Property Securities Fund which I blogged about in November last year.

From the article:

"... Australian fund AIMS Property Securities Fund (APW), is currently under attack from minority unitholders who have convened a Jan 3 meeting to vote on a motion to wind up the fund.

"The motion was initiated by Samuel Terry Asset Management, a Sydney-based boutique investment management company, which claims to have amassed substantial support from other unitholders to go against APW's majority shareholder, AIMS Financial Group.

"However APW's executive chairman George Wang is confident of defeating the motion, pointing out in a recent interview with The Business Times that this is not the first time Samuel Terry (referring to the company) has tried to wind up APW; the previous unsuccessful attempt occurred in 2013.

"Samuel Terry's gripes with APW are similar to LIM's with AMP Capital's fund. First, APW's share price in December 2016 remains at a significant 23 per cent discount to its net tangible assets, although this is already an improvement from 72 per cent in 2009, when AIMS took over the nearly-insolvent MacarthurCook Limited.

"Another of Samuel Terry's gripes is that APW being a "fund of funds", there are extra layers of fees and costs, not all of them disclosed. Also, 71 per cent of the portfolio is now invested in other funds managed by AIMS, compared to just 18 per cent two years ago."

Now, the strange email I received last month makes sense:

Hello,

I am working with Fred Woollard to seek to wind up BVP (formerly A0P).  I see you blogged about it recently.  Might I ask how many units you own, and whether you currently intend to support Fred’s wind up proposal?

regards

Warwick Sauer

BVP. Oh, I see.

I remember telling myself I would look at the email again later but I totally forgot. 

Alamak. Growing old and forgetful.

Related post:
AIMS Property Securities Fund.