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Listed investment companies are listed managed funds where the investor owns shares in the company that holds the investment portfolio, rather than units in a fund of the underlying asset.
The main reasons investors buy LICs are for: capital growth, dividend income and professional management.
LICs differ from other investments in a few ways:
Trade size | $1,000 | $5,000 | $10,000 | $20,000 | Over $20,000 |
Brokerage | $9.95 | $14.95 | $19.95 | $19.95 | 0.11% of trade value |
The value of a LIC may increase over time based on factors including the manager’s skill, the performance of underlying assets and its shares trading at premium.
LICs can distribute some of their profits by way dividends, often fully franked.
LICs can help reduce your investment risk as they typically invest in a diversified portfolio of stocks and/or other assets.
The value of a LIC may decline due to factors including investment decisions made by the manager, the performance of underlying assets and its shares trading at discount.
LICs charge annual management fees which are taken out of the profits of the company regardless of performance, and in some cases may also charge performance fees.
There are two ways to fund your investment: