LIC & LIT Listed Investment Companies (LICs) 2019

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

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  1. mistercoffee

    mistercoffee Well-Known Member

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    I wonder how much WAM spends on advertising and promotion. I am constantly getting emails from them. And last week I checked my PO Box and found a letter from Kate Thorley, Ceo of WAM. She wrote about how well the funds are performing and how the share price discounts are narrowing and the "share registers are tightening" (not entirely certain what that means). But the main purpose of the letter was to ask me to hand over my telephone number ... "we are hoping to call you discuss your companies".

    Hand over my phone number? Not this little black duck. While I am happy with the dividends I've received from WAM, I really don't want them to call me. I would be happier if they would just invest my money wisely, and continue the flow of sweet sweet dividends.
     
  2. SatayKing

    SatayKing Well-Known Member

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    Makes you feel all warm, fuzzy and wanted. Much like charities if they get hold of your details.

    The thought did cross my mind "Why tap the shareholders?" Surely a $1m wouldn't be such a great ask from this source.

    Oh I forgot. Warm, fuzzy and wanted. Silly me.
     
  3. Dsign

    Dsign Well-Known Member

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    PW recently posted his first ever article with some potential negative outlooks on aus property. First i have ever seen him do that ,

    maybe trying to diversify from heavily weighted aus property and stocks
     
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  4. Redwing

    Redwing Well-Known Member

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    AUI

    Good on him

    81 year old Mr Charles Goode elected for another 3 years as Chairman
     
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  5. mistercoffee

    mistercoffee Well-Known Member

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    I don't usually get superstitious, but when I do, I buy more shares. I scraped together some loose change and bought a little more PMC today. That makes it 74.5% MLT and 25.5% PMC.
     
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  6. Nodrog

    Nodrog Well-Known Member

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    Much better numbers. May the force be with you:cool:.
     
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  7. oracle

    oracle Well-Known Member

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    0F275ED1-92AA-4C52-B371-2767D24F805E.jpeg

    As of 19th March

    Probably has similar monetary value in DUI.

    Talk about having skin in the game.

    Imagine someone walking up to him and saying mate I don’t think you are diversified enough. You have majority of your wealth in two companies :eek: Would love to know how he would respond :D

    Cheers
    Oracle
     
    Last edited: 21st Nov, 2019
  8. APINDEX

    APINDEX Well-Known Member

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    Comforting to read since I bought some DUI today :)

    I also bought some VAS & SOL I could have bought a new car with the money I put in the market today and a few years ago I probably would have!

    Feels good to allocate this money in a much more productive way...
     
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  9. SatayKing

    SatayKing Well-Known Member

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    It is also interesting to me the additional shares allocated were due to participation in the DRP.

    Now if you get Director's fees and for one dividend participate in the DRP and not for the other......

    If so neat way of covering any possible additional tax payable.
     
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  10. SatayKing

    SatayKing Well-Known Member

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    Way, way more.
     
  11. SatayKing

    SatayKing Well-Known Member

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    @oracle's post about Mr Goode having skin in the game piqued my curiosity, soooooooo me being me I decided to do some numbers - a rare event.

    These are the holdings as at the last Directors notice for DUI

    CB Goode: 2,483,179
    CB Good (Share Plan): 140,000
    Super Fund: 2,915,836
    Chabar: 821,317
    Ravenscourt: 318,218

    Total skin in DUI game as a cob price yesterday

    $32,324,182.

    Compares with total AUI skin in game of

    $14,025,950.25
     
  12. mistercoffee

    mistercoffee Well-Known Member

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    That is very impressive.

    I have seen that octogenarian Bruce Teele, chairman of Amcil, owns 48166901 AMH shares. At yesterday's cob price (which is at significant discount to nta), his total AMH skin in the game is $43831879.91
     
  13. SatayKing

    SatayKing Well-Known Member

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    LOL. Yeah, the level of various holdings by some managers can surprise. I assume the holdings is spread across various entities plus personally. Focusing on only the personal holdings and not beneficial interests, I wonder how much dividend income pa it would generate? Ant yet they continue being involved which says something I think.

    And while I have seen quite a few who buy on market additional acquisitions via DRP is not uncommon.

    Maybe there is a hint there on two levels.
     
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  14. DoggaPP

    DoggaPP Well-Known Member

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    I guess, once the dividend income covers all your needs and wants then all the rest becomes either purely a business interest, a future family wealth strategy and/or a future benevolence stash awaiting instruction @ death.
     
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  15. SatayKing

    SatayKing Well-Known Member

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    Possibly or possibly not.

    Obviously I don't know of the specific financial arrangements - although probably like many I am curious - but I had a look at the last Directors interest notice for AMH and it would appear the additional holdings were under the DRP.

    Number acquired under DRP (23 August 2019):

    Personal: 580,947
    Super: 769,755
    Other: 496,543
     
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  16. SatayKing

    SatayKing Well-Known Member

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    A further side track. AMH is the only one of the AFI stable in which Mr Teele has any formal involvement. So during his time with AFI, MIR and DJW....

    Hmm, wonder if I can arrange to be adopted :eek:
     
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  17. SatayKing

    SatayKing Well-Known Member

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    @Big A's comments in another thread about his approach got me thinking. Compare with what CB of AUI & DUI and BT of AMH (and previously AFI) do. Probably other LIC managers also do a similar thing.

    Lessons we can easily overlook?

    I'll be straight up. Since I placed all my spare funds as well as those in the SMSF and ticked DRP, I haven't bothered to follow the market gyrations or the share prices of those I hold or company news. And I really don't care. See some talking head on the news and mentally go Pffft.
     
  18. Nodrog

    Nodrog Well-Known Member

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    Ditto. Seem to have lost interest somewhat and focused on other things. That plus the boss keeps giving me endless jobs to do:(. Besides if all you have is a handful or so of listed funds there’s nothing to do except top up when more cash rolls in.
     
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  19. SatayKing

    SatayKing Well-Known Member

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    Not even that in the SMSF with the DRP arrangements now it's all back in accumulation phase.

    One, possibly inadvertent, outcome of the 2016 Budget and balance caps.
     
  20. twobobsworth

    twobobsworth Well-Known Member

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    Anyone holding FGX/FGG and getting the customer service call from someone at WAM for a performance update? Sheesh, what a waste of money.
     
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