WAM Leaders provides investors with exposure to an active investment process focused on identifying large-cap companies with compelling fundamentals, a robust macroeconomic thematic and a catalyst.
Bailador is a Sydney-based investment firm providing growth capital to private companies in the information technology sector.
Future Generation Australia (ASX: FGX) is a listed investment company that aims to deliver a combination of income and capital growth over the medium-to-long term by investing in Australian equities.
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.
Bentley Capital Limited is a strategic investment company listed on the Australian Securities Exchange.
WAM Microcap provides investors access to a portfolio of undervalued micro-cap growth companies with a market capitalisation of less than $300 million at the time of acquisition. WAM Microcap also provides exposure to relative value arbitrage and market mispricing opportunities.
WAM Active provides investors with exposure to an active trading style with the aim of achieving a sound return with a low correlation to traditional markets. WAM Active’s investment objectives are to deliver a regular income stream via fully franked dividends, provide a positive return with low volatility, after fees, over most periods of time, and to preserve capital.
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 III (ASX.CD3) was listed in July 2016 having raised a total of AUD$76.8 million.
Carlton Investments Limited (CIN) is a long established investment company listed on the Australian Securities Exchange. It is the investment strategy of the Carlton Investments Group to invest in established, well managed Australian listed entities that are anticipated to provide attractive levels of sustainable income and also long term capital growth.
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.
Excelsior Capital Limited, (‘ASX:ECL’ or ‘Excelsior’) (previously known as CMI Limited), is a Listed Investment Company (LIC) that has been listed on the Australian Stock Exchange since 1993. Its investment strategy is quite dynamic, focusing on a mix of acquisitions, direct investments, and managed investment schemes aimed at achieving high compound returns with capital stability , low volatility at minimal correlation to risk assets such as equities and bonds.
The Metrics Master Income Trust provides investors with the advantage of direct exposure to the Australian corporate loan market — a space dominated by the regulated banks.
Argo Infrastructure’s actively-managed portfolio is diversified across 50-70 global listed infrastructure securities across various subsectors and geographies, including both emerging and developed economies.
Alternative Investment Trust (AIQ or the Trust) is listed on the Australian Stock Exchange (ASX) and has exposure to a portfolio of leading international absolute return funds and selected direct investments in subordinated debt and equity co-investments.
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.
