LIC & LIT Why the love for Mirrabooka Investments?

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

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  1. SatayKing

    SatayKing Well-Known Member

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    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.
     
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  2. Prashant Mahajan

    Prashant Mahajan Active Member

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    So, whats the verdict QVE or MIR ?
     
  3. Froxy

    Froxy Well-Known Member

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    MIR anytime you can pick it up close to NTA, such as today.
     
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  4. Nodrog

    Nodrog Well-Known Member

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    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.
     
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  5. Banawarra

    Banawarra Well-Known Member

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    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
     
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  6. Froxy

    Froxy Well-Known Member

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    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

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    Yo, did some rounding of the holdings with MIR today. Similar reasoning and slowly back to the Oz/OS prefered split.
     
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  8. sfdoddsy

    sfdoddsy Well-Known Member

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    Is the recent underperformance of MIR a concern, or just the way things go?
     
  9. Snowball

    Snowball Well-Known Member

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    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...
     
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  10. sfdoddsy

    sfdoddsy Well-Known Member

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    Sorry, should have remembered they just paid a hefty special dividend.
     
  11. SatayKing

    SatayKing Well-Known Member

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    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
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  12. SatayKing

    SatayKing Well-Known Member

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    Hint taken @Redwing even if it wasn't meant to be a hint. :D :D

    It was in the high .7% at one stage but has dropped in recent times I believe. I'd like it to drop further from wherever it is now of course but that depends on many factors.

    Frankly, I do prefer it simply because it isn't banks, banks, big mining, big mining,

    It shouldn't be a consideration but please something different for goodness sake.
     
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  13. Nodrog

    Nodrog Well-Known Member

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    That’s what I was trying to say but you said it much more briefly and effectively:). For greater diversity away from banks, banks, miners, miners I choose mid / small cap funds locally and developed global. That’s keeps me happy diversification wise whilst still keeping things simple.
     
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  14. mistercoffee

    mistercoffee Well-Known Member

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    Another difference between MIR & QVE is that, for some reason, none of the AFI stable of LICs invest in gambling stocks. Crown Resorts and Tabcorp, which are reliable cash generators, are among QVE's largest holdings.
     
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  15. SatayKing

    SatayKing Well-Known Member

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    I didn't know that. Ideology maybe?

    Not that I would bother but an email to AFI about it?
     
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  16. mistercoffee

    mistercoffee Well-Known Member

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    You might be right about ideology. You might know that Bruce Teele and Ross Barker are prominent in the Presbyterian Church in Melbourne. In fact there were rumours that Bruce might be the head of some kind of cult, but I don't know how credible they were.
     
  17. geoffw

    geoffw Moderator Staff Member

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    A "cult" within the Presbyterian Church, some years ago. They were locked out of the church and then reinstated.
    The Fellowship: Cult's teachings deemed heretical
     
  18. Nodrog

    Nodrog Well-Known Member

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    Further to this here’s a recent comparison of the sector allocation of ASX 200 vs MIR. Something different MIR certainly is:):

    ASX 200:
    9376B9B6-217F-4D60-8543-D54C37C48854.jpeg

    MIR:
    B6C05D20-A115-4B68-A56A-C95B9F4E4085.jpeg
     
  19. SatayKing

    SatayKing Well-Known Member

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    It must still be raining up your way @Nodrog. :)

    Nevertheless, thanks. It's always good have someone confirm one's own bias.
     
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  20. SatayKing

    SatayKing Well-Known Member

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    Well knock me down with a feather and Praise the Lord. Who would have thunk it.
     
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