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26 December 2024

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The catalyst for a LICs rebound

The discounts on listed investment vehicles are at historically wide levels. There are lots of reasons given, including size and liquidity, yet there's a better explanation for the discounts, and why a rebound may be near.

Five famous investors with cheap listed funds

Why invest in an unlisted fund by a well-known, experienced fund manager when the equivalent listed fund is offered at a substantial discount? Maybe there's a structural problem to fix here.

Managing LIC discounts and premiums

Many Listed Investment Companies, or LICs, have developed persistent discounts to NTA in their share prices, and buyback programmes are struggling to have much impact. See also the latest update on new issues in the LIC space.

Watch for LICs that never return to par

Some investors buy LICs at a discount in the hope of extra gain when the discount is removed, but it might never happen. There's a way of judging the discount relative to its historic norms.

A checklist for buying LICs at a discount

Plenty of LICs trade at a discount to their NTA value, often for good reasons, but there are opportunities to benefit from a narrowing of the discount if an investor knows what to look for.

Why LICs trade at premiums or discounts

The surge in popularity of listed investment companies has seen the erosion of the average price discount relative to net assets. Whether a LIC is likely to trade at a discount or a premium should inform your decision to invest.

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Vale Graham Hand

It’s with heavy hearts that we announce Firstlinks’ co-founder and former Managing Editor, Graham Hand, has died aged 66. Graham was a legendary figure in the finance industry and here are three tributes to him.

Australian stocks will crush housing over the next decade, one year on

Last year, I wrote an article suggesting returns from ASX stocks would trample those from housing over the next decade. One year later, this is an update on how that forecast is going and what's changed since.

Taxpayers betrayed by Future Fund debacle

The Future Fund's original purpose was to meet the unfunded liabilities of Commonwealth defined benefit schemes. These liabilities have ballooned to an estimated $290 billion and taxpayers continue to be treated like fools.

Australia’s shameful super gap

ASFA provides a key guide for how much you will need to live on in retirement. Unfortunately it has many deficiencies, and the averages don't tell the full story of the growing gender superannuation gap.

Looking beyond banks for dividend income

The Big Four banks have had an extraordinary run and it’s left income investors with a conundrum: to stick with them even though they now offer relatively low dividend yields and limited growth prospects or to look elsewhere.

AFIC on its record discount, passive investing and pricey stocks

A triple headwind has seen Australia's biggest LIC swing to a 10% discount and scuppered its relative performance. Management was bullish in an interview with Firstlinks, but is the discount ever likely to close?

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