LIC & LIT How liquid are LICs

Discussion in 'Shares & Funds' started by Tony, 9th Aug, 2017.

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  1. Tony

    Tony Well-Known Member

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    I recently come across LICs & while I have more research to do I would like to know how liquid they are of you need the cash. My intention is long term and have buffers in place but in the unlikely event that I need to sell, how quickly can you do so & what are the costs involved.
    Thanks in advance
     
    Tony, 9th Aug, 2017
    #1
  2. mcarthur

    mcarthur Well-Known Member

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    Well, assuming you're ready and willing to meet the market on the day, then the worst I can think of is to sell on the Wednesday before Easter. You'd have to wait until the following Tuesday to get the transfer. So 5-6 days at worst?
     
    mcarthur, 9th Aug, 2017
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  3. Redwing

    Redwing Well-Known Member

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    You mean the fact that its closed end? For every seller there needs to be a buyer, or how liquid it would be if there was a Superfight and you wanted to cash out and needed to pick up some gold, guns and spam in a hurry?

    upload_2017-8-9_11-59-44.png
     
    Redwing, 9th Aug, 2017
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  4. Tony

    Tony Well-Known Member

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    If you needed to cash out. What would be the process? Thanks
     
    Tony, 9th Aug, 2017
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  5. The Falcon

    The Falcon Well-Known Member

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    Place a sell order, limit or market. Settlement is T+2. So funds in your account day 3.
     
    The Falcon, 9th Aug, 2017
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  6. Snowball

    Snowball Well-Known Member

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    Hahahah redwing, some of your posts/pics are just pure gold!
     
    Snowball, 9th Aug, 2017
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  7. D.K

    D.K Well-Known Member

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    just sold off a heap of AFI at 12 month high. $14.95 fee and the $$$ were in the bank 2 days later= winning
     
    D.K, 9th Aug, 2017
    #7