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11 May 2026
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Many capital management techniques are used by LICs in an attempt to narrow or eliminate the discount at which the price trades relative to net tangible assets – all with varying success.
The surge in popularity of listed investment companies has seen the erosion of the average price discount relative to net assets. Whether a LIC is likely to trade at a discount or a premium should inform your decision to invest.
Over the last two years, small caps have underperformed their large cap rivals in Australia, which goes against the global historical trend. Where has our small cap additional performance gone and will it return?
Small cap companies outperform their large cap peers over the long term and are a great way of adding diversification. But there are hundreds of small companies to choose from, and it's important to find the quality.
Listed Investment Companies compete with managed funds and ETFs for pooled investments, and a couple of legislative changes in recent years have improved their outlook.
There are reasons why small cap stocks have a history of long term outperformance, although recently, the preference for defensive large cap yields has dominated.
Global equity markets have grown more correlated due to globalization, but this trend may reverse which boosts the benefits of cross-country diversification.
Research highlights the significant impact of excluding housing income from income inequality analysis in Australia, arguing for the inclusion of imputed rent and capital gains to provide a more accurate picture.
The lithium rally mirrors the early-2010s tech stock surge, with demand set to double by 2030. Supply has been slow to respond, creating a market deficit for future tech like humanoid robotics and solid-state batteries.
Increasing our official cash rate contrasts with almost every other developed country in the world. Canada, UK, Europe, and USA, so far, have not reversed recent cuts while their inflation issues appear to be contained.
Around the world, democracy as a system of government is backsliding. After more than 50 years of liberal democracy in ascendancy, democratic progress plateaued around the turn of the century and is now going backwards.
Financial commentators await the federal budget with focus on debt and deficit. 'Off-budget' accounting alters the fiscal picture with unseen programs.
Ashley Owen's abridged monthly snapshot uncovers what is front of mind for investors around the world and his view on the likely outcome of the stand-off in the Middle East.