Tag: L1 Long Short Fund Limited

ASX LICs

TIME TO BUY FIXED INCOME CLOSED END FUNDS LISTED ON THE ASX?

In this post I am going to explore how I think about the new wave of ASX listed fixed income closed end funds (CEFs). To be clear, I am not referring to various fixed income ETFs that are open ended. Regarding the CEFs in this sector, I am not very optimistic from this point in time. Well that is unless you are the fund managers offering them. They are clipping some juicy fees and as a result appear addicted to issuing more shares.

Continue reading “TIME TO BUY FIXED INCOME CLOSED END FUNDS LISTED ON THE ASX?” →
ASX LICs, MY Investment Style

LIC Investing – 10 factors to check before buying.

A checklist for buying ASX Listed Investment Companies (LICs)

A list of 10 factors to check as a guide when to buy, scroll down for further explanations on each.

1) Discount / Premium to NTA

2) Management Expenses and ALL other costs

3) Performance Track Record

4) Investment Style

5) Alignment of management’s interest with shareholders

6) Ownership Structure

7) Investment Management Agreement (IMA)

8) Size of the LIC

9) Future Dividend Capacity

10) Marketing / Reporting of the LIC

When I look back at my investing mistakes, one common theme is rushing into a new purchase. I find I have usually done better when a number of months pass until I begin accumulating a position in a new idea.

When investing in LICs I try to make sure I have considered numerous factors first. That helps me avoid getting itchy fingers and hitting the buy button quickly. Continue reading “LIC Investing – 10 factors to check before buying.” →

ASX LICs, Individual stock news / Research

A good reminder on some themes to consider in LIC’s over the next year.

I realise many of the readers here may already have come across this article from Daryl Wilson at Affluence Funds Management but felt it was worth a mention. This fund manager specialises in ASX LICs. I tend to agree with many of their views in articles I come across and this was no exception.  I thought I would just comment further down about how some of the themes they brought up in the article may be impacting my own decision making. Continue reading “A good reminder on some themes to consider in LIC’s over the next year.” →

ASX LICs, Individual stock news / Research

Investing in global LICs at IPO stage & brief thoughts on WAM Global.

Author’s note: In compiling this article I have used data as at 25th April, 2018.

Recently I was checking out Morphic Ethical Equities Fund (MEC) and observed how fickle the premium / discount to NTA can behave. It is almost one year since listing and this type of pattern I see quite often in new LICs. Continue reading “Investing in global LICs at IPO stage & brief thoughts on WAM Global.” →