At first glance this blog post might appear to be only relevant to Contrarian Value Fund Ltd (ASX:CVF) and Global Value Fund Ltd (ASX:GVF) shareholders. I thought it was worth posting though because all LIC investors generally should ideally make themselves aware about certain issues. Part of the attraction for a fund manager launching a LIC is it is very “sticky” AUM revenue. Investors cannot redeem their funds like the traditional open-end managed fund structure. This “stickiness” of AUM fee revenue for the fund manager can often usually last for a decade whereby many Investment Management Agreements (IMAs) set their terms at 10 years.
Continue reading “ASX LICs AND IMA TERMINATION FEES – GLOBAL VALUE INVESTING”Tag: Global Value Fund Limited
There are now well over 100 ASX LICs. I must have looked reasonably closely at the fee structures of more than half of the current crop and have noticed a couple with unusual structures. I would be interested in the view from others about these features, and also if other LICs follow a similar arrangement? Continue reading “Unusual Fees in LICs?”
The CYA transaction got me thinking to the extent similar deals have occurred in the past. There are a few fund managers who will examine investing in LICs, yet the vast majority don’t. I’d like to better understand why many avoided LICs in 2009-2012. Continue reading “MERGERS, ACQUISITIONS AND WIND-UPS IN THE LIC SECTOR”