Is the new Wilson LIC, WAM Strategic Value (ASX:WAR) a buy?
Whilst WAM has proven form using the underlying investment strategies planned for this new LIC, there are a few reasons why I would be cautious about jumping in. The performance fee is high, opportunities for this overall strategy have dried up somewhat compared to last year, and then there are the usual potential issues of buying LICs at IPO.
Continue reading “WHICH LICs WILL WAM GO TO WAR ON? WAM STRATEGIC VALUE REVIEW (ASX:WAR)”
It has been a tough environment for active managers, so I thought I would take a look at a performance comparison of the most popular ASX LICs.
Continue reading “ASX LIC Performance Comparison – Not A Happy FY19”
This blog post is referring to a very old study of Closed End Funds (CEFs) that I read this year. CEFs are the equivalent of what Australian investors usually refer to as ASX Listed Investment Companies (LICs). The study discusses in detail the typical life cycle of CEFs. It talks about why they often swing from premium to discount, and then back to NAV in a fickle manner. Continue reading “Have We Learnt Nothing from Investing in Closed End Funds / ASX LICs in the Last 30 Years?”
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.”