LIC & LIT Listed Investment Companies (LICs) 2019

Discussion in 'Shares & Funds' started by Nodrog, 1st Jan, 2019.

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  1. monk

    monk Well-Known Member

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    Win a private lunch with Geoff Wilson AO
    We are excited to announce our Forward to a Friend competition. If you enjoy reading our investment insights and market updates each week, then we would love you to share it with your friends, family and colleagues, for a chance to win.

    Gold prize: Private lunch with Wilson Asset Management Chairman and Chief Investment Officer Geoff Wilson AO.
    Silver prize: Private lunch with your choice of Chief Executive Officer Kate Thorley or one of us.
    Bronze prize: Wilson Asset Management gift bag including a notepad and pen, coffee keep cup, water bottle and team jacket.

    To participate in our competition, forward this email to a friend and encourage them to register and nominate you as their referrer by following this link.

    Read our email on Friday 4 October 2019, in which the Gold, Silver and Bronze Prize Winners will be announced.
    Attention Nodrog & SatayKing, here's your big chance lads, don't waste it. ;)
     
  2. Nodrog

    Nodrog Well-Known Member

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    I’m not interested but @SatayKing would likely be thrilled with such an opportunity:).
     
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  3. monk

    monk Well-Known Member

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    Oh good, so I done right then by posting this as @SatayKing at least, will be pleased :cool:
     
  4. RogTheBear

    RogTheBear Well-Known Member

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    Third prize is making me rethink my Wilson holdings.

    First prize - nice lunch
    Second prize - nice lunch
    Third prize - leftover merch that the work experience kid left behind.

    Seriously?:oops:
     
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  5. SatayKing

    SatayKing Well-Known Member

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    Interesting inducement. A form of multi-level marketing. Tupperware anyone?
     
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  6. Nodrog

    Nodrog Well-Known Member

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    The only merchandise that I’d be interested in from them is:

    A50058E4-5810-46F7-9760-29DB3FC6D144.jpeg
     
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  7. monk

    monk Well-Known Member

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    Okay,okay no takers here then. I was really interested in the 'bronze prize' but with my QVE div's yesterday could probably buy my own now :)
     
  8. SatayKing

    SatayKing Well-Known Member

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    Cannot remember this occurring in the past except where I have entered incorrect email details. Received the DUI dividend advice but not the one for AUI.

    Checked the share registry and email details are correct. Downloaded the dividend statement while in the share registry site. A cosmic ray must have shattered the email advice.

    Money is in the accounts though.
     
  9. Nodrog

    Nodrog Well-Known Member

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    AUI are well known for keeping costs very low. Eliminating email advice is just another one of their cost reduction measures.
     
  10. Synergy

    Synergy Well-Known Member

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    Barefoot just released his new idiot grandson portfolio which consists of vas (75%) vts (10%) veu (15%)

    He narrowed the lics down from 114 to AFI, ARG, AUI, DUI and MLT. But then cut them all out in the end.

    Cut off whitefield due to mer and cut bki because "BKI is the only old school LIC that has an external for-profit manager. Contact Asset Management charges BKI a flat 0.10% fee. When you add in the running costs of the LIC, the total cost for shareholders is 0.17% p.a. Now this is still incredibly cheap, but we prefer the company to pay the investment managers a salary, so as the portfolio grows the costs should decrease. In addition, BKI has had poor portfolio returns, underperforming the index over 1, 3, 5, 10 and 15 years (by 1–2%)".
     
  11. Nodrog

    Nodrog Well-Known Member

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    High allocation to ASX for such a young investor. VTS / VEU very low fee but not locally domiciled. VGS would seem a simpler option albeit it misses out on small caps and EM. Perhaps the split allows more control over global asset allocation based on perceived value. But then that breaks the market cap index argument.
     
    Last edited: 21st Sep, 2019
  12. SatayKing

    SatayKing Well-Known Member

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    I was considering if I should apply under the Corporations Act to be a "sophisticated" investor - also known as a bozo with money - thereby bypassing the peons in getting access to the goodies on offer.

    Best if I remain a peon.
     
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  13. SatayKing

    SatayKing Well-Known Member

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    But an email was received asking me to vote. Not good enough I say.
     
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  14. Nodrog

    Nodrog Well-Known Member

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    Gees it is a mystery then:confused:. Hope you get some sleep minus the worry till Monday arrives and this most unsatisfactory issue can be resolved.

    Meanwhile one of my dividends due for payment yesterday is coming by cheque:mad:. Wasn’t even sure cheque’s still existed:rolleyes:.
     
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  15. SatayKing

    SatayKing Well-Known Member

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    Your concern is noted and appreciated.

    I do hope you remember what cheques look like and still know what to do with them.

    Overall, it is a stupid situation though where an investor with a new holding isn't given a sufficient window to record banking details or a current holder being able to amend banking details. It's also weird as the broker would surely advise the share registry of the default account and you'd be able to transfer the funds from there.
     
  16. virgo

    virgo Well-Known Member

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    So how would you do it for your grandson? :)
     
  17. Nodrog

    Nodrog Well-Known Member

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    I have no idea unless one of our chickens mysteriously gives birth to a rooster.
     
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  18. SatayKing

    SatayKing Well-Known Member

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    I'd get legal advice on structuring a Will with possibly Beneficiary Controlled Testamentary Trusts taking into account prospective beneficiaries and host of other factors.

    And not declare to my paid subscribers I've got this great idea....
     
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  19. virgo

    virgo Well-Known Member

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    Oh i see:D

    How about i rephrase and try again?

    How would you do it if you were 20 years old again?
    (go on...take the bait?? :p)
     
  20. Nodrog

    Nodrog Well-Known Member

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    So many issues to consider here before even selecting the assets.

    But in regard to asset selection alone VDHG would be simplest but tax could be an issue. The wholesale unlisted version is likely better again taking behavioural issues into account and administratively easiest.

    However if willing and able to take the listed funds path with greater tax efficiency and if not being locally domiciled isn’t an issue then it’s hard to better the choice of Barefoot’s fund selection. As mentioned earlier the percentage allocation seemed unusual for such a young person. Perhaps VAS (30%), VTS (35%), VEU (35%).

    If locally domiciled funds are preferred then VAS (30%), VGS (55%), VGE / VAE (15%) might be an option.

    Hard for me nowadays to think like a 20 year old so take the above with a grain of salt.
     
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