LIC & LIT Listed Investment Companies (LICs) 2021

@monk
I'm the same. WAM was the first for me followed by AFI and MLT. And then followed by an assortment of other high fee LICs with most of them turning out to be duds.

No desire to participate here either, as I'm trying to do the opposite and dispose of all my Wilson's funds with the exception of WMI, which I am reducing as well but is the only one I plan to keep a small holding long term.

Since stumbling upon this forum and slowly consuming it, I've been selling off not only my Wilson's LICs but others as well. I'm still surprised WAM funds attract the premiums they trade at, that is partly the reason I haven't sold the whole lot due to the CGT. I am on track though to be done and dusted by the next FY.

The novelty has certainly worn off, forgot if it was you or @Ross36 who said it here, but that post really struck it with me.

 

But surely it's not caring about the quality but feeling the width? The fella must be working 26 hours a day with all the funds on the go. No idea how he does it. Has to be something to do with a 2%/20% thing.

 

well last time I listened to his marketing calls he claimed that he doesn't do much these days, it's the others on the books that do all the work.

but the amount of capital raisings they've done in the past 12 months is quite something: 3x SPPs, 2x 1 for 1 option issues and now launching a new fund of unspecified size. and while it's not quite 2/20% they surely can't get enough of it.

 

I just purchased a parcel of ARGO. First time in a while. Slight discount to NTA.

Not that NTA is everything, but I don't like paying a 5+% premium.

Now just gotta wait for the next lot of divs, Vanguard next week I think.

 

Ever tried to create your own NTA and fool around with the numbers just to see what happens? I did once as I was curious to see what occurred if there was an increase in cash or no buys or sells but only prices changed. Completely pointless exercise really but it was fun at the time.

 

Are yes!!! I do love the smell of cash , though VAS is the only thing I drp these days but hey, that'll do fine .

 

i hold WAX ( bought in 2011 and DRPed )

up until now WAX has done very nicely for me ( and i guess for management as well , but if you pay peanuts you get monkeys , didn't someone say )

now currently i notice WAX seems to be going more into cherry-picking the top 300 , are they tilting towards 'safety' ' , and the thought of exiting ( in very nice profit ) has crossed my mind this week

now from my time in WAX ( and as the holder of other LICs that have caught the Wilson eye ) i can vouch Wilson management CAN be aggressive and opportunistic , and in a prolonged manner , BUT i am not a fan of 'fund of funds' , unless i am that fund manager ( LOL )

i am liable to sit and watch for a while first , and will PROBABLY resist buying in ,

WAX has been more successful than i hoped , but can lightning strike again , and do i want to tip-toe further out on the risk curve , at the current time .

DYOR

 

Never tried. Do understand your point though!

 

no i haven't , i take a 'ball-park conservative guess ' , although a buddy did use the Commsec leverage table to work out how much could be borrowed on that portfolio ( certainly below $400,000 given many holdings have no lending value not that i worry much about that )

i love weird little stocks like GRR ( bought @ 20c that usually pay 2c a year in divs ) ( one of the few i haven't taken out the original cash investment when the share price is UP )

 

He he.




Triggered a memory. Back in the days when button up boots and quills were in vogue (I remember those days with fondness. Ah, the nostalgia) although LICs published NTAs there wasn't anything like there is today where sites publish comparative data or there was broker research on LICs. When it came in I asked one old stager of a financial planner why? His response was "demand." All this fretting about which is going to perform better, where to place their money blah, blah, blah. So as they want to be fed baby food, the industry decided to cater to it.

He was even more of a cranky than me by the way if you hadn't already guessed.

 

You're right. Thanks. Also means I'll need to re-visit the international allocation. Picked up more PMC in April last year and some ALI but I'll will consider adding further to VGS now. Getting up towards the 40% mark.

 

Im 30% VGS, and about 10% VAE. They have been awesome performers... but I still love the ARG and VAS dividends more.

 

I had thought about VAE but at this stage it really wouldn't add any meaningful impact to me so I didn't proceed. So I've used PMC as a form of a proxy. A slightly pricey one and an active punt for sure but it's how it has panned out over a number of years.

 

I guess if you were to ask him he would say that he doesn't do it on his own.

My impression from listening/viewing to his web presentations is that he employs a good crew.

 

He lost 2 of his best a couple of years ago (Chris Stott and Martin Hickson) who after gardening leave set up 1851 Capital. Interestingly they intend to hard close their fund at $400m to protect performance.

The Wilson suite of LICs must have a market cap of $3B+. Mr Wilson sure has been effective in collecting FUM.

 

i see harsh times coming , i hope the crew can rise to excellence in the coming storm .

maybe some of the hard number-crunching is done by computers these days , but better him than me ( finding all the new opportunities needed to continue the capital growth )

 

One day I shall learn to place a multitude of 's in my posts.

Until then, I won't.

 

Saw this and thought of @SatayKing

Gin mayo

 

Yeah also interestingly they chose not to set up as LIC?

The Fund - 1851 Capital

1.25 + 20 nice work if you can get it...

 

Thanks for the thought @Redwing. A disgrace to package Four Pillars in that manner.

I'm sufficiently outraged I have vowed never to sniff alcohol again.

Coffee, however, is another matter altogether.