LIC & LIT Why the love for Mirrabooka Investments?

Discussion in 'Shares & Funds' started by Zenith Chaos, 17th Nov, 2018.

Join Australia's most dynamic and respected property investment community
  1. SatayKing

    SatayKing Well-Known Member

    Joined:
    20th Sep, 2017
    Posts:
    2,172
    Location:
    Australia
    You'd better give away pumping iron in that case. Scanning docs is weighty enough. I've no loner have any to do. Wish I had as it's a bit of a stinker outside and likely to be so for the next few days.

    Take it easy bro.
     
    Ynot and Nodrog like this.
  2. Prashant Mahajan

    Prashant Mahajan Active Member

    Joined:
    1st Mar, 2017
    Posts:
    28
    Location:
    Melbourne
    So, whats the verdict QVE or MIR ?
     
  3. Froxy

    Froxy Well-Known Member

    Joined:
    22nd Sep, 2018
    Posts:
    66
    Location:
    Sydney
    MIR anytime you can pick it up close to NTA, such as today.
     
    dranzer likes this.
  4. Nodrog

    Nodrog Well-Known Member

    Joined:
    28th Jun, 2015
    Posts:
    7,352
    Location:
    .
    I like MIR more. Numerous reasons but unlike QVE being Ex 20 MIR is Ex 50 so on mandate alone it gets your further away from the larger end of ASX.

    MIR has a noticeably lower fee also and less key personnel risk. Anton T the founder of IML will possibly leave in a few years. He sold part of his stake in IML to a Global Fund Mgr, who own just over half of IML now:

    Natixis Global AM acquires majority stake in IML - ifa

    3 years is not really long enough performance wise but here’s MIR vs QVE:

    60489DA2-995B-41B0-A8DE-1FB0D2C62196.jpeg

    Personal view only.
     
    Ynot, Zenith Chaos, sharon and 2 others like this.
  5. Banawarra

    Banawarra Well-Known Member

    Joined:
    28th Jun, 2015
    Posts:
    51
    Location:
    Rural NSW
    I like AMCIL also but it seems to get nowhere the same amount of love as its stablemates AFIC & MIR even though it seems to me to be a blend of the two
     
    Ynot, Zenith Chaos and Froxy like this.
  6. Froxy

    Froxy Well-Known Member

    Joined:
    22nd Sep, 2018
    Posts:
    66
    Location:
    Sydney
    I think its inconsistent dividend and hybrid approach means it falls short for growth investors and income investors.

    I hold it and like it as a proxy for MIR when its pricey
     
  7. SatayKing

    SatayKing Well-Known Member

    Joined:
    20th Sep, 2017
    Posts:
    2,172
    Location:
    Australia
    Yo, did some rounding of the holdings with MIR today. Similar reasoning and slowly back to the Oz/OS prefered split.
     
    Ynot and Zenith Chaos like this.
  8. sfdoddsy

    sfdoddsy Well-Known Member

    Joined:
    19th Mar, 2019
    Posts:
    80
    Location:
    Sydney
    Is the recent underperformance of MIR a concern, or just the way things go?
     
  9. Snowball

    Snowball Well-Known Member

    Joined:
    28th Dec, 2016
    Posts:
    615
    Location:
    Perth
    What recent underperformance?

    Most likely the share price premium coming down a little.

    upload_2019-4-29_16-37-1.png

    So the company has done fine, maybe investors who paid a premium haven’t...
     
    Ynot, Anne11, Froxy and 1 other person like this.
  10. sfdoddsy

    sfdoddsy Well-Known Member

    Joined:
    19th Mar, 2019
    Posts:
    80
    Location:
    Sydney
    Sorry, should have remembered they just paid a hefty special dividend.
     
  11. SatayKing

    SatayKing Well-Known Member

    Joined:
    20th Sep, 2017
    Posts:
    2,172
    Location:
    Australia
    In my ideal world - the only true world by the way - any specials would be eliminated from the calculations and so would franking. Drat, better eliminate any impact of DRP's for changes in capital. Hold on! What about the change in franking from 30% to 27.5%. Argh, I forgot about 10 years ago company tax was 34% so maybe that should be factored in too.

    Why is an investors life so unkind?

    And in case anyone is curious (if you're not you will be informed anyway if you're reading this) before the tax rate was 30%, it was 33%, and before that 39%.

    And the long-term aim is 25% I believe at least that is what Treasury is thinking.

    Gotcha worried about the 30% and refunds now.:):D
     
    Last edited: 30th Apr, 2019
    Ynot, mdk and Anne11 like this.