LIC & LIT FGX

Discussion in 'Shares & Funds' started by IrishDigger, 14th Jan, 2021.

Join Australia's most dynamic and respected property investment community
  1. IrishDigger

    IrishDigger Well-Known Member

    Joined:
    8th Jan, 2017
    Posts:
    93
    Location:
    Australia
    Just curious if anyone else on the forum is holding FGX besides me.

    I have held a fair swag for a few years and continue to top up via CommSec given that there is no brokerage for buyers.

    Closed today at $1.275 with an NTA of $1.323
     

    Attached Files:

    • FGX.pdf
      File size:
      590 KB
      Views:
      5
  2. monk

    monk Well-Known Member

    Joined:
    18th Sep, 2017
    Posts:
    861
    Location:
    Brisbane
    Yep, I've held it since inception, though have been reducing it over time as it doesn't fit with my long-term plan of simplification.
     
  3. mtat

    mtat Well-Known Member

    Joined:
    7th Sep, 2019
    Posts:
    328
    Location:
    Sydney
    Nah...

    If you want to donate 1% then you can just do that yourself. Then the rest you invest in a globally diversified portfolio and you're good to go.

    Brokerage is nothing to worry about in the grand scheme of things.
     
  4. Zenith Chaos

    Zenith Chaos Well-Known Member

    Joined:
    10th Jul, 2015
    Posts:
    1,673
    Location:
    Sydney
    I do invest in FGX, also invest in FGG, and have asked my sons to do the same for a few years as a way of enforcing savings habits while avoiding brokerage.

    They have done well and are my top performers apart from a few I gorged on during the downturn - but this may be because I frequently buy $1k chunks regardless of market sentinment. They are comprised of active funds with no fees charged, just the annual 1% into charity. I hope that the combination of managers' points of view will offset each other and dampen overall portfolio volatility.

    I may end up selling the lot and buying VAS / VGS if the share price hits a party with NTA, or just to simplify, but will take a CGT hit.

    They are not part of my end goal strategy of being entirely passive, but they have been a good instrument to enforce savings, and their performance has been solid IMO.
     
    Last edited: 17th Jan, 2021
    Ynot, nofriends and IrishDigger like this.
  5. Redwing

    Redwing Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    7,438
    Location:
    WA
    5 year
    upload_2021-1-17_7-56-42.png

    Looks like a stock split in 2014

    10 year
    upload_2021-1-17_7-57-52.png
     
    Ariyahn2011 and IrishDigger like this.
  6. nofriends

    nofriends Well-Known Member

    Joined:
    3rd Jun, 2017
    Posts:
    106
    Location:
    QLD
    FGX strategy only commenced in September 2014 with the cap raise a month prior. Before that it was a different fund run by a third party and investing in infrastructure assets, mainly ports and airports. The assets were then bought by the Future Fund and the shell by Sandon and Wilson.

    edit: that's if i remember correctly
     
    Redwing and IrishDigger like this.
  7. S1mon

    S1mon Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    604
    Location:
    canberra
    yeh i got a fair few FGX too...very cheap (low fees) exposure to some great and diversified selection of fund managers...wont shoot the lights out but is very low risk set and forget imo
     
    Zenith Chaos likes this.
  8. number 5

    number 5 Well-Known Member

    Joined:
    2nd Mar, 2019
    Posts:
    133
    Location:
    Australia
    lol. not sure how you can think 1% is cheap!
     
    S1mon and The Falcon like this.
  9. Zenith Chaos

    Zenith Chaos Well-Known Member

    Joined:
    10th Jul, 2015
    Posts:
    1,673
    Location:
    Sydney
    The fund managers FGX investors get access to for free all charge more than 1%. Cheap may not be the right word, or definitely not low cost, but for fund of fund exposure it isn't expensive.
     
    number 5 and IrishDigger like this.
  10. twisted strategies

    twisted strategies Well-Known Member

    Joined:
    1st Jul, 2015
    Posts:
    1,461
    Location:
    QLD
    not me , i was offered some in the initial round ( as i am a holder of WAX ) and couldn't find it attractive

    maybe because i am a cold-hearted b@stard , a former salesman , or just i have no children to wonder over their future ... or maybe i have an over-sized ego and think i select fund managers and the mix of them better myself

    of course the #wallstreetbets episode has probably strengthened that belief in me .

    i look on fund of funds as a lot like CDOs a hard to define sausage mix of assets

    but that is just a personal opinion , of course
     
  11. twisted strategies

    twisted strategies Well-Known Member

    Joined:
    1st Jul, 2015
    Posts:
    1,461
    Location:
    QLD
    1% is cheap if they out-perform consistently ( in good times and terrible ) but they DO have to out-perform , not just beat some weird performance hurdle ( that you need to be a research genius to track and understand )

    if someone ( almost ) guarantees a consistent 8% return after fees on a regular basis do you think it would be popular , if in doubt ask Bernie Madoff and he even gave printouts of your investments each month ( sure they were bogus , but the investors wanted safe reliable returns without researching it )
     
  12. IrishDigger

    IrishDigger Well-Known Member

    Joined:
    8th Jan, 2017
    Posts:
    93
    Location:
    Australia
    As 'twisted strategies' stated, "but that is just a personal opinion , of course" and I think we all should remember that when reading these forums.;)

    About the only option I miss when browsing through the FGX list of fund managers is that the fund managers do not reveal the companies they have invested in and I guess there is a competitive reason for that.
     
    Greedo likes this.
  13. twisted strategies

    twisted strategies Well-Known Member

    Joined:
    1st Jul, 2015
    Posts:
    1,461
    Location:
    QLD
    yes there
    yes there would be , some of those managers use a 'secret sauce ' and that is one reason i disliked the concept would you buy into a consortium which bought 'a block of units' in Perth ( no address , no tenancy data etc etc. using the property manager's reports as your sole information source

    WAX is bad enough with the very high portfolio turnover ( and high fee structure )

    and yes a good idea on the assets invested in is essential to me in making decisions , i am very much a diversity addict in times like these five different managers heavy in Alphabet , Apple and others , is NOT diversity to me ( even if some are options trading on the underlying portfolio )

    although i was badly distracted elsewhere during the GFC i did take time to look at many accounts to grasp what went wrong and how

    i have only recently watched The Big Short , that added extra depth to my research ( remembering such activities were NOT limited to the US and nor was the CDO selling , they sold plenty on the to local councils and other trusts in Australia and elsewhere )
     
    IrishDigger and Redwing like this.
  14. IrishDigger

    IrishDigger Well-Known Member

    Joined:
    8th Jan, 2017
    Posts:
    93
    Location:
    Australia
    Notwithstanding that I would like to know what companies the FGX fund managers have invested in, I am content in the knowledge that Geoff Wilson has his name to it through the Management Board and Investment Committee and in their selection of the various fund managers.
     
  15. twisted strategies

    twisted strategies Well-Known Member

    Joined:
    1st Jul, 2015
    Posts:
    1,461
    Location:
    QLD
    so did i , and that is why i didn't take up the opportunity to invest in it at the start or later

    i DO still hold WAX so i have nothing in particular against Geoff Wilson , but i do wish he would resist taking over different LICs i am invested in

    if WAM was so attractive to me i would have bought some in the last 10 years
     
  16. IrishDigger

    IrishDigger Well-Known Member

    Joined:
    8th Jan, 2017
    Posts:
    93
    Location:
    Australia
    On the subject of Geoff Wilson taking over different LIC's you are interested in; I hold WAA and I am intrigued in his interest in KBC which has over the years has been a basket case and so I bought some KBC given that Geoff might see something that I don't. :)
     
  17. twisted strategies

    twisted strategies Well-Known Member

    Joined:
    1st Jul, 2015
    Posts:
    1,461
    Location:
    QLD
    i noticed the interest in KBC maybe KBC has some interesting unlisted assets

    KBC has been the centre of interest for some time , so maybe there is a hidden gem in there ,
     
    IrishDigger likes this.