1 Morningstar
See first picture.
AAS is shown with a discount of 4.33% in 2013, when it is clearly actually a premium. Then the graph has lines for share price and NAV. The numbers don't correspond to actual price, being presumably rebased in some arbitrary way from 2010. These lines show a share price premium of 18%, but of course I should not calculate a premium in this way. Rebasing the graphs is not helpful.
2 Sharepad.
Second picture.
This is better, with a real share price & NAV graph. The premium in 2013 roughly matches the Morningstar 2013 figure. The table shows a current discount of 17.7%, which matches the graph. OK.
Third picture.
The ratio of price to NAV is on the LH scale. This looks mostly OK, except it has recently dropped below 60%, which means a discount of over 40%. This does not correspond with Sharepad info in picture 2. Am I missing something ?
The fourth picture shows VOF. Here the discount in the table bears no relationship at all to the graph.
![Image](https://i.ibb.co/G9RmTmh/AAS1.jpg)
![Image](https://i.ibb.co/WcFgcYY/AAS2.jpg)
![Image](https://i.ibb.co/nbtTYLK/AAS3.jpg)
![Image](https://i.ibb.co/F6w3ZDt/VOF4.jpg)