LIC & LIT Listed Investment Companies (LICs) 2021

You are likely to be eaten by a grue.

 

Indeed. Sadly enough bending over no longer seems to provide the required illumination.

 

Very kind of you to ask me @JCD. Always good to start off investing when young for various reasons. Gets them used to the ups and downs of the market too is one reason which is important as they can either learn it doesn't matter in the long term provided they grit their teeth (or if much older, dentures) or they will fold like a number of investors, for want of a better word, do. If they can steel themselves to ignoring fluctuations, as well as the 'spurts suggesting various ways of effectively destroying their wealth, they will likely do well.

If you do a search on a number of my posts you will see my children were placed in a more fortunate financial position than many others being the beneficiaries of three deceased estates (so far and I'll leave it to others to guess if they are in line for a fourth). So please keep that in mind when reviewing the outcome others may have achieved.

As to what to invest in there are many, many options. I did a search on the forum for "shares for children" and came up with the link below. It would be educational and informative if you went through it slowly to gather ideas, some of which are good and some, well, a bit out there with elements of what could be considered by some as gaming the system. It's all fine by me though because I am not the one who may have to answer awkward questions at some future date.

Search Results for Query: shares for children - PropertyChat

Keep in mind, when the ball started rolling for my brood few ETFs were available in this country. In fact I think there were only three. Now there are many more options available. If your young lass does take up the opportunity, then there is also this to consider.

Record Keeping (CGT / Estate) - Shares / LICs / ETFs ...

One thing which can be good is when they start to earn their own money. Nothing wrong with matching or flicking them a couple of thousand - they have $2,500 of hard earned and want to invest it, so match it if possible is one thought - assuming they are actually going to invest it and are not going to be throwing a really wild party at your place while you are skiing at Aspen.

All the above is very general I know but I don't advise anyone on which investment product they so go for. That is a decision entirely for the individual as it should be.

Hope your daughter does take up your suggestion and she has a lot of fun on the journey. The fun being a quiet inner one and not salivating over, prices, total return, PE ratios or NTAs which can be a distraction.

 

Thanks for your kind words SK
I had planned for a “special dividend” from Dad at key levels to help boost the portfolio over time, agree wholeheartedly on that idea.

 

Good stuff. It'll work when one particular ingredient is applied. Time. That and keep putting funds in.

A left field thought. Ask your young 'un if she can keep quiet about it. She could find she suddenly has lots of besties!

 

I agree with this, one of our girls naively mentioned her early investing forays (with our help) to friends and her friend circle grew overnight with undesirables - it was as if she had won the lottery. We had to sit them all down and explain how that we were generationally turning our fortunes around slowly and had to start acting and thinking like old money. Discretion is one of those old money traits

 

Oh dear. Very unfortunate. That particular problem didn't occur with my children fortunately. Luck of the draw maybe.

Absolutely agree with the discretion aspect too. I certainly don't tell others not even my children although they are aware in a general sense - funds appearing in their accounts sort of gives the game away. Oh for the times past, when asked for a bit of spare cash, you could say "Gee, I don't know. I'm retired see and the price of things nowadays....."

 

AJ Hancock's retirement as the Company Secretary of AUI and DUI is effective as of today. New website going live by market open tomorrow?

 

Awesome. Luckily I had the email address so sent him this:

 

Speaking of AUI who's been opening their wallet lately? Share price taking off though still below last announced pre-tax nta. Terrible news I say, just terrible

 

How on earth would you know that? Unless you have been looking and placing a buy in which case, fine, otherwise .

 

Clicking the computer mouse is part of my daily exercise routine and and, well it just happened you know . It really wasn't my fault .

 

Uh, uh. I see. Right. I understand. A variation of DVT prevention exercises. I'll buy that one.

 

"Hey Siri, what is the Whitefield stockprice today"

"The Whitefield stock price is five dollars and fifty nine cents and the market depth shows satayking has the next in line order on the buy side"

 

Good news for you, it's now 1cent cheaper than a few days ago, lucky you waited!! .

 

More importantly than 1c, who or what is Siri? Not happy about a bid being made on my behalf when that wont happen until after the next WHF dividend is paid. I'm outraged now. Sucks boo.

 

Shhhh, best not to ask about Siri, Siri knows everything.

 

Got it now. It's giving you false positives.

Anyways, I'm weary. Very much so that I need to enter a quiet place. Chat amongst yourselves by all means but moderate your voices to a dull roar, please.

 

alright, let's see if we can get the ball rolling

WAM Strategic Value Limited

We have received significant interest in the upcoming initial public offering (IPO) of WAM Strategic Value Limited from our shareholders and supporters. WAM Strategic Value will focus on identifying and capitalising on share price discounts to underlying asset values of listed companies, primarily listed investment companies (LICs), listed investment trusts (LITs) and other closed- end investment vehicles. I look forward to serving shareholders as the Lead Portfolio Manager of WAM Strategic Value.

All members of the Wilson Asset Management family will receive a priority allocation in the offer. Full details will be contained in a prospectus that will be issued by WAM Strategic Value when the IPO is launched. We expect to lodge the prospectus with ASIC in early May 2021 and the offer to close in early June 2021. Once lodged with ASIC the prospectus will be made available on our website. Shareholders who wish to participate in the offer will need to read the prospectus in full and complete the attached application form. The Australian Financial Review covered the news earlier this week.

Thank you for your support.

signed
he whose name must not be said

 

This one is a 'pass' for me.
WAM is one of the first Lic's I purchased, I also have WLE & WMI but am slowly reducing my holdings of active lic's in favour of more passive Lic's & etf's.