Tag: Listed Investment Companies

Playing Games with LIC Performance Reporting.

A simple game I used to like playing as a kid was spot the difference.

It is not unusual for LICs to play their own version of the game. Continue reading “Playing Games with LIC Performance Reporting.”

WHICH WAM LEADERS TO FOLLOW, SPECIAL SITUATION INVESTING & APW

Around late September it struck me that some investors buying WAM Capital (WAM) & WAM Leaders (WLE) may not have considered some alternatives. Was there potentially cheaper back door entries into these stocks available? Continue reading “WHICH WAM LEADERS TO FOLLOW, SPECIAL SITUATION INVESTING & APW”

ADVANTAGES OF A SMALLER FUND SIZE / AND THE BOOMING LIC IPO PIPELINE.

Within the active v passive investing debate I think it sometimes focuses too heavily on active managers with large portfolios. I shall explore why active management can make sense with smaller portfolios. Continue reading “ADVANTAGES OF A SMALLER FUND SIZE / AND THE BOOMING LIC IPO PIPELINE.”

Unusual Fees in LICs?

There are now well over 100 LICs on the ASX. 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?”

LIC IPOs under $50 million. Potential traps and confusing performance reporting.

I often mention to other investors that looking for opportunities in the LIC sector has been a significant part of my strategy.

A reaction I have had on several occasions from them is to bring up an example of a LIC boasting great performance figures.

Continue reading “LIC IPOs under $50 million. Potential traps and confusing performance reporting.”

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.”

The other side to the older, low fee LICs.

Advantages well documented from the likes of the Barefoot Investor and financial media in general.

The positives of the older, low fee LICs I feel are very well known and covered. They have usually got a good run in the financial press from the likes of the Barefoot Investor, and deservedly so. I personally think they have been excellent investment products for so many for such a long time. I particularly like the positive influence they have had on investors helping them with the behavioural aspects. i.e. sticking the course and seeing the benefits of compounding, highlighting dividend returns and benefits from not overtrading, including taxation benefits.

Now for the other side..

Now for the section where I might receive some negative feedback!

Continue reading “The other side to the older, low fee LICs.”

What do retail investors want to hear from their fund manager?

This blog post topic came to mind after I read a post from another blogger. The post I refer to discusses whether fund managers are doing a good job communicating their ideas to attract retail investor demand. Continue reading “What do retail investors want to hear from their fund manager?”

AVOID THIS LIC FLOAT IN 2018!

Warning fictional post. There is so much cheap money around I fear that if I don’t include such a warning, some will think this is real and want me to send them the prospectus! Continue reading “AVOID THIS LIC FLOAT IN 2018!”

TWO LICs YOU WILL PROBABLY HATE.

Being a contrarian investor is easy, just find some stock ideas that are not popular. Doing it successfully is not so easy! I have been doing my own little experiments lately and getting some indication of investor sentiment anecdotally with a very small sample set, and I don’t think my boring investment style is that interesting right now in a raging bull market. Continue reading “TWO LICs YOU WILL PROBABLY HATE.”

TIME FOR GLOBAL ACTIVE MANAGERS TO OUTPERFORM & COMMON CATALYSTS FOR LICs.

Most investors probably have an inkling that active fund managers are not doing a stellar job when it comes to outperforming the S&P 500 of late. Sometimes a chart is worth a thousand words, and the above one ought to grab the attention of those with a penchant towards a mean reversion, contrarian and cyclical approach to their investing.

This post will predominately be for those that subscribe to the theory that active managers may be in store for some sort of return to favor over the next few years, and potential implications of this for some LICs.

Continue reading “TIME FOR GLOBAL ACTIVE MANAGERS TO OUTPERFORM & COMMON CATALYSTS FOR LICs.”

DOGS OF THE PORTFOLIO AND A REVIEW OF FY 2017, RECOMMENDED RESEARCH SOURCES.

dog

No harsh comments about the dog in the picture as he is a close friend of mine.

June 30 is often a time of reflection for investors and I thought I would sit down and do a quick self-review of the financial year gone by. As promised I went through and just noted the stocks that I have mentioned on the blog previously where I still hold, and picked out the ones that have looked shaky of late as at June 30. Continue reading “DOGS OF THE PORTFOLIO AND A REVIEW OF FY 2017, RECOMMENDED RESEARCH SOURCES.”

TAKING PROFITS IN SOME SMALLER LICs

I nearly always enter an investment assuming I may be holding that company in terms of years not months, but with some selling I have done of late it hasn’t turned out that way. A month or two ago I pointed out the difference in performance of the leading companies on the ASX versus the small ordinaries over the last year or so. Continue reading “TAKING PROFITS IN SOME SMALLER LICs”