I have some of these in my superfund (4%), looked good at the time but looking at the recent results I am feeling nervous to continue holding. Dividends paid have dropped but still much higher that the profit made for the year. Cash on hand is right down. My personal safety check on LICs is that the Cashflow from Operating Activities is greater than the Dividends paid, indicating asset sales, right issues or finance is not used to fund dividends. This is not the case. Am I over reacting?