l agree with the 2nd point. LIC's as a whole are being replaced but it won't be overnight.
many LIC holders will be 50+ with significant capital gains and paying tax - reliant on the franked dividends for income.
I prefer overseas holdings to be in an LIC than ETF. additionally LIC's can offer shorting inside the funds (l won't short directly anymore) eg LSF PGF
the smaller LIC's are being consolidated but l am happy holding as well as increasing exposure to ETF's over time.
the real advantage of an ETF is that it's lifespan is indefinite, as long as listed companies exist.
Ann: August 2023 Investment Update, page-6
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