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29 October 2025

Home / Net Tangible Assets

Net Tangible Assets

1-12 out of 12 results.

AFIC on its record discount, passive investing and pricey stocks

A triple headwind has seen Australia's biggest LIC swing to a 10% discount and scuppered its relative performance. Management was bullish in an interview with Firstlinks, but is the discount ever likely to close?

The catalyst for a LICs rebound

The discounts on listed investment vehicles are at historically wide levels. There are lots of reasons given, including size and liquidity, yet there's a better explanation for the discounts, and why a rebound may be near.

Why LIC discount harvesting is a buy-and-hold decision

LIC discounts can be a pain for existing investors but an opportunity for new buyers. To avoid further losses from discount widening or buy/sell spreads,  hold for the long term and enjoy the increased income flow.

LIC discounts widening with the market sell-off

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.

How can the worst feature of LICs also be the best?

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?

Reporting season winners and losers in listed property trusts

Many property trust results are better than expected, with the A-REIT sector on a dividend yield of 4.8%. But there's a wide variation by sector and the ability of tenants to pay the rent.

International LICs can have a fully franked future

Australian investors usually turn to local shares to generate fully franked dividends, but it is possible for a global equity fund to have the same mandate in a broader universe of stocks.

New ways for listed funds to fix their price discounts

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.

Managing LIC discounts and premiums

Many Listed Investment Companies, or LICs, have developed persistent discounts to NTA in their share prices, and buyback programmes are struggling to have much impact. See also the latest update on new issues in the LIC space.

The merits of investing in LICs at a discount

It's important to consider why a LIC is trading at a discount, as what might appear good value worth buying may be built into the price for many years, and the discount may even worsen.

A checklist for buying LICs at a discount

Plenty of LICs trade at a discount to their NTA value, often for good reasons, but there are opportunities to benefit from a narrowing of the discount if an investor knows what to look for.

Capital management techniques in LICs

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.

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