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30 July 2026
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2017 was a watershed year for LICs, not only because of the increase in issues, but the new features that address previous shortcomings.
Unlike managed funds and ETFs, LICs can trade at substantial premiums and discounts to the value of their underlying assets, but this is only one factor to consider when choosing a LIC.
Fee structures of LICs can vary greatly. Higher fees impact on net returns and make beating benchmarks more difficult. On the other hand, expect manager skill and outperformance to come at a higher cost.
Instead of just looking at the historical returns of a Listed Investment Company (LIC), investors should also factor in risk measures such as beta, standard deviation and the Sharpe Ratio when assessing a LIC.
Markets climbed a wall of worry in FY26, but artificial intelligence remained the dominant force, rewarding some of the world’s biggest companies while leaving others behind.
Sweeping tax changes are reshaping the investment landscape and many investors are considering major restructures. But before chasing lower tax bills, it's worth asking whether those decisions will strengthen—or undermine your ability to build wealth across generations.
Is value investing relevant in an age when momentum investing, quant strategies and index funds increasingly dominate markets? It is underappreciated how share price distortions may be creating some of the best opportunities for patient, disciplined investors.
Australia's concentrated market makes global diversification essential, but breadth alone is not enough. Investors still need a disciplined framework combining business quality, sensible valuation and a credible catalyst.
While many investors are asking whether gold has peaked, the world's central banks appear to be asking different questions altogether. Their thinking offers useful insights for long-term investors.
Investor sentiment towards Australia has turned increasingly gloomy, but the data tells a different story. There are are plenty of reasons to remain optimistic.
After four decades advising investors, there are a few common mistakes I've seen SMSF investors make. From holding too much cash and chasing yield to overtrading and trusting tips. Are these errors costing you?