LIC & LIT Listed Investment Companies (LICs) Q4 2018

Hi Anne11,an update here.I received a notification by mail that I was allotted my full amount but was issued under a SRN number.When I rang them, it appears a clerical error & my details were entered incorrectly thus issued under SRN & not to my HIN.This to be resolved by them, but at least I have the shares so am hoping that you too have a good outcome with this.

 

Thank you Monk,

I called them this morning and was told the same thing. I will have to wait for the statement in the mail.

 

@monk and @Anne11 what a PIA for you both. Good it's hopefully resolved in your favour.

SRN's are a PIA too as when I dealt with them, the details weren't necessarily entered automatically but I had to go and manually add the SRN as a holding - provided you knew the SRN of course.

In someways, Link Market Services is a little better than some other registries as it allows multiple entities with different HIN's where each have the same share holding, eg, two or more entities each hold PIC.

 

Yes SK they are a PIA to transfer plus a fee of $50 I think,which is why I insisted that thery sort it as I'd entered my details correctly,so hopefully they come to the party & do so without further dispute.Wondering how many more people are affected as I was 'on hold' for quite a while this a.m.

 

$50 bucks! Get outta here. When I arranged for the transfer of some SRN holdings to HIN's it cost nothing. Even one residual for a DRP which was in operation and just missed the cut was transferred without charge. Kick 'em where it hurts.

 

I hold FGX which is more or less the same set up as HM1,

Hearts & Minds Investments

I just wonder how the new boy on the block is going to find value given that the current market is rather expensive.

 

It was a while ago so perhaps I got that wrong,might have been changing 'entities/names' or something come to think of it.

 

Interesting presentation from WHF on their investment approach.

https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=02034315

 

Bloody hell

 

Is that normal for them? I didn’t realise that’s what they do and how they do it.
Although not sure I understood it all.

 

on WHF presentation, it sounded a bit more complicated than I would have thought. All this quant stuff ... ummm...

 

mumble jumble ******** to make them look good they just tracking the index and all that fancy foot work?

If you any good with quants you can make a lot of money on the market without running a cheap fund and pocket 0.25% fee

 

From my understanding it's basically tracking industrials index plus minor under/overweight in some positions to try and slightly outperform the index. Sounds good to me as long as returns are close to the index.

 

A lot of work went into the presentation given how close their returns have been to the industrials index over the last 5 years.


Would it have been sufficient to just write a few sentences saying we are basically tracking the industrials index? (Not that there is anything wrong with that, probably what most holders want).


Doing this just might make some holders question their honesty, rather than being impressed by their investment capabilities.


More spin than Warnie!

 

I received the allocation and the refund cheque in the mail. They gave me a new SRN which I added to the portfolio on Linkservices. The guy who answered the phone was not the most helpful guy either.

 

I thought they were a buy and hold type LIC. I didn't read through the document to find out. When they say quant I am hoping that it means they are using algorithms to pick the best shares at the best prices. Otherwise they have changed their investment philosophy drastically and that is scary.

 

@Zenith Chaos They are still long term buy and hold. That was in the presentation somewhere. All that woodoo staff is to try and beat the index by 0..100 points taking some minor under/overweight positions. Otherwise, that's just index tracking which is really close. Have a look at 5 year portfolio results compared to the benchmark. The page 12 slide summarises it nicely.

 

fund manager and LIC manager has trick up their sleeves to always beat the index it actually easy to do, but the reality is far from the presentation.

That why you see all fund and LIC manager presentation said they beat the index but stats has the figure reverse how is that possible?

stock market investing for most people isn't rocket science, it doesn't need fancy footwork, high finance or quants, leave that to the big boys and institutions and you can still beat them once you acquire the experience.

Just like Honey, the production of real honey is X but they sold on market double that amount? how is that possible?
.

 

Pinnacle-backed Firetrail shelves listed investment company

 

Reading through Miltons annual report (sorry bored!! ha-ha) - although in all seriousness I would encourage anyone thinking of investing in MLT to have a read..
Found this paragraph interesting

Whilst Miltons turnover remains low, during 2018 investments
in 26 companies and trusts were increased with a total
investment of $70m. This included investments in Technology
One, AGL and Woodside Petroleum. Partly funding this was the
complete disposal of investments in AMP, Origin Energy and
Fletcher Building..

Their annual report is a LOT easier to read and makes more sense to layperson than WHF.. having said that I can still see the reasons why someone (myself included) would allocate some capital to WHF but just wish they would explain things in the simple easier to understand manner that MLT have in their annual report?