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29 June 2022
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Discounts on LICs and LITs vary with market conditions, and many prominent managers have seen the value of their assets fall as well as discount widen. There may be opportunities for gains if discounts narrow.
If you thought fund managers were banned from paying commissions to financial advisers and brokers to prevent conflicts of interest, you have not kept up with the move to classify clients as wholesale investors.
Why invest in an unlisted fund when the listed version of the same fund is priced at a discount? Why hold a listed version at a premium when the unlisted version is cheaper? Find the best way to invest.
Apparently, Listed Investment Companies trading at a discount to NTA are both the best and worst of worlds. They are either exciting opportunities or not in the best interests of investors. Which is right?
Bonus options issued by Listed Investment Companies (LICs) deliver many advantages but there is a potential dilutionary impact if options are exercised well below the share price. This must be factored in.
The Listed Investment Company structure is under siege, but for the right type of asset and manager, it still carries strong appeal. Every LIC should review whether it has a genuine reason to exist in this form.
Until 2018, LICs and LITs dominated ETFs, much like the Star Wars franchise was the most lucrative in the world until Marvel came along. Now ETFs are double their rivals, just as Marvel conquered Star Wars.
The boards and managers of six high-profile LICs, frustrated by their shares trading at large discounts to asset value, have embarked on radical strategies to fix the problems. Will they work?
Running a fund should not become a gravy train for boards and investment managers. It is time to address the persistent discounts to NTA on LICs, and there is one especially exciting new structure.
Why invest in an unlisted fund by a well-known, experienced fund manager when the equivalent listed fund is offered at a substantial discount? Maybe there's a structural problem to fix here.
Retail investors in fixed interest LITs now realise some structures were not the defensive portfolios they expected, but have prices reached value? Plus it's time to act on stamping fees.
The arguments on whether advisers can accept selling fees on LICs and LITs is heating up as lobbyists work both sides of the fence. Your input to our survey will give Treasury some useful data.
With 62% of Australians aged 65 and over relying at least partially on the age pension, are they better off owning their home or renting? There is an extra pension asset allowance for those not owning a home.
With 700 Australians retiring every day, retirement income solutions are more important than ever. Why do millions of retirees eligible for a more tax-efficient pension account hold money in accumulation?
A fund manager argues it is immoral to deny poor countries access to relatively cheap energy from fossil fuels. Wealthy countries must recognise the transition is a multi-decade challenge and continue to invest.
Equity investing comes with volatility that makes many retirees uncomfortable. A focus on income which is less volatile than share prices, and quality companies delivering robust earnings, offers more reassurance.
At around 10.30pm on Saturday night, Scott Morrison called Anthony Albanese to concede defeat in the 2022 election. As voting continued the next day, it became likely that Labor would reach the magic number of 76 seats to form a majority government.
Using the nine dimensions of well-being used by the OECD, and dividing Australians into Baby Boomers, Generation Xers or Millennials, it is surprisingly easy to identify the winners and losers for most dimensions.