I own ARG, CHO, MLT and STW. An extremely boring portfolio, but one which I am certain will give me at least my fair share of market returns over a lifetime. I'd also look at AUI and DUI, and possibly AFI, but that's about it.
Advantages of LICS: - fully franked dividends which are always at least as generous as the previous year - dividends often include a LIC capital gain amount, allowing individual investors to claim half of that as a tax deduction; not sure how this works as a company investor - transparent investing: you know almost exactly what you're buying - low portfolio turnover minimises capital gains tax paid by the LIC - low management fees (and far lower than unlisted funds) - sound capital management ensures there's always plenty of cash to pounce on undervalued stocks - biannual or annual share purchase plans allow investors to top up shareholdings at a small discount, and without paying brokerage
Need I go on?
ARG Price at posting:
$5.35 Sentiment: LT Buy Disclosure: Held
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