The 360 Capital Mortgage REIT (ASX:TCF) provides investors access to credit opportunities secured by Australian real estate assets. TCF aims to deliver regular monthly income to investors through disciplined asset selection and risk analysis.
CD Private Equity Fund II (ASX.CD2) was listed in April 2013 and is fully committed, having raised a total of US$95.1 million since inception.
Tribeca Global Natural Resources (TGF) provides investors with exposure to an active long short investment strategy that seeks to profit from the inherent volatility in the Natural Resources Sector.
An ASX listed investment company that holds positions across both public and private markets, covering a range of industries and stages of development. The investment strategy targets innovative companies that display a sustainable competitive advantage and strong management teams. The Fund also aims to provide a steady, fully franked dividend stream.
Salter Brothers Emerging Companies Ltd (ASX: SB2) is a listed investment company with an Investment Portfolio focused on Emerging Companies which are predominantly Australian listed and unlisted securities with market capitalisations under $500 million at the time of the initial investment.
Whitefield Income Limited’s strategy seeks to benefit from the systematic mispricing of Australian shares over their income recognition and dividend payment periods and an orientation of the portfolio towards profitable, cashflow generative and dividend paying companies.
Katana Capital Limited (ASX code KAT) is a listed investment company (LIC) which is managed by Katana Asset Management Ltd (AFS License Number 288412). KAT was listed on the Australian Stock Exchange (ASX) in December 2005.
Benjamin Hornigold Limited (ASX: BHD) seeks to increase the value of its portfolio by allocating capital to investments in which it has the highest conviction. It also aims to provide investors with exposure to global and domestic investment opportunities in listed investments
WAM Research provides investors with exposure to a diversified portfolio of undervalued growth companies, which are generally small-to-medium sized industrial companies listed on the ASX.
WAM Global provides investors with exposure to an actively managed diversified portfolio of undervalued international growth companies and exposure to market mispricing opportunities.
Australian Foundation Investment Company is a listed investment company investing in Australian and New Zealand equities.
Spheria Emerging Companies Limited (ASX: SEC) is a listed investment company (LIC) that provides investors with access to an actively managed, Australian and New Zealand small and micro companies portfolio, designed for investors seeking capital growth and portfolio diversification.
Bentley Capital Limited is a strategic investment company listed on the Australian Securities Exchange.
NCC aims to provide investors with a long-term concentrated exposure to Australian & New Zealand emerging companies (excluding resource companies).
WAM Strategic Value provides shareholders with exposure to Wilson Asset Management’s proven investment process focused on identifying and capitalising on share price discounts to underlying asset values of listed companies, primarily listed investment companies (LICs) and listed investment trusts (LITs) (commonly referred to as closed-end funds).
Listed Investment Companies (LICs) are publicly traded companies that invest in a diversified portfolio of assets, aiming to provide shareholders with capital growth and/or income.
LICs offer an alternative investment vehicle for individuals seeking to access managed investments which are traded on a stock exchange.
LICs are companies that pool investor capital to invest in a range of assets, including equities, fixed income, and property.
Unlike traditional managed funds, LICs are structured as companies, and they listed on stock exchanges which allows investors to buy or sell their shares in real-time.
Each LIC typically has an investment mandate that outlines its investment strategy, risk profile, and target sector.
There are several types of LICs, including:
There are three main features of LICs:
There are three main risks of LIC investing:
When comparing LICs, investors should consider:
Investors can invest in LICs through:
LICs are managed like companies and trade on exchanges whereas ETFs are typically passive funds that track indices.
Yes. LICs can be bought and sold through standard brokerage accounts.
Yes. Many LICs focus on long-term capital growth and dividend income.
Dividends from LICs are typically taxed as income, and franking credits may apply depending on residency.
This represents the difference between a LIC’s market price and the NAV of the LIC’s assets.
Buying LICs at a discount to NAV can sometimes be a lucrative investment strategy.
Dividends are usually paid semi-annually or annually, but this varies by LIC.
Yes. LICs are regulated under corporate law and must adhere to the relevant disclosure and reporting requirements.
Some LICs may use leverage to enhance returns, but this also increases risk.
LICs represent a valuable asset class for investors seeking a combination of diversification, professional management, and potential income generation.
By understanding their structure, types, features, and associated risks, investors can make informed decisions.
Careful comparison and consideration of investment strategies are crucial for investors aiming to use LICs to maximize their returns.
