LIC & LIT Why the love for Mirrabooka Investments?

There is that. As always there are avenues. Selling some of the holdings is one as well to possibly create a CG loss to offset any other CG gain elsewhere. One of my brood is mulling that over.

PS: I did suggest that one to read up on the ATO's views about a "wash" sale.

 

i wonder if AFIC, AMH and MIR talk to each other? Say MIR has to part with a company because it moves into top 40, do they first offer the holdings to AMH or AFIC rather than just sell on open market?

 

It is always possible.

In the board make up only Mark Freeman (Managing Director) sits on all four while John Patterson is the Chair of both DJW and AFI. Otherwise the composition of the Boards are different. We're getting into what is sometimes termed the Chinese Wall concept to prevent or mitigate very naughty things occurring.

Now this is where it gets interesting. None of the LICs seem to have investment analysts and backroom boys and girls. These services are provided by AFI's subsidiary Australian Investment Company Services Limited (AFI holds 75% and DJW 25%.) The smaller LICs do not have any employees but do pay for the services provided by AICS. Makes sense in one way as the smaller LICs' costs would increase if they had separate employees and using one services company would have the effect of keeping overall costs down (in theory.)

Last FY, DJW paid $2.5m, MIR $1.5m and AMH $0.9m

Both Mark Freeman and John Patterson are Directors of that subsidiary by the way.

Let the conspiracies begin!

 

They all love chicken too!

 

I didn't realise they used a subsidiary to do their stock picking. Similar model to WHF & BKI I guess. Wonder what ARG does?

 

The 2021 Annual Report is your friend.

 

Good find, thanks.

I've learnt something new. I'll call it a successful day.

 

BPay scheduled.

 

What day do you do?
I usually do bills on the due date and never an issue but plenty of banks suggest 1-3 days.
I’m thinking Friday morning ahead of Monday cutoff.

 

The Friday is definitely safe.

From BPay T&Cs

A BPAY Payment is treated as received by the Biller to whom it is directed:

• on the date you direct us to make it, if we receive your direction by the Cut Off Time on a Banking Business Day, and
• otherwise, on the next Banking Business Day after you direct us to make it. The BPAY Payment may take longer to be credited to a Biller if you tell us to make it on a Saturday, Sunday or a public holiday or if another participant in BPAY does not process a BPAY Payment as soon as they receive its details.

PS: Wish these mobs all participated on Osko (real-time payment) with funds transferred and received in less than a minute.

 

No inghams?

 

Based on indicative March NTA of $3.20 and current share price trading the SPP may be circa 5% discount which. I’ll be topping up.

 

SPP Price.

 

Thanks @SatayKing. Only 27% participation - I expected higher than that.

 

It's close to the participation rate for the previous SPP. Not far from the amount raised then either.

 

Yeah me too I would have thought more would take up anyway happy with this

 

LOL. The same 2015 shareholders who participated last time were joined by an additional 54.

 

Unlike the last SPP, this time they have been nice enough to send an Allocation Notice. Pity it isn't available via the share registry web-site.

 

hmm, mine must be in the mail. I too would prefer to have it available via the share registry web site