Fund managers hate giving up capital locked in closed vehicles. It's their holy grail of fees.
I can only think of a couple, like Monash, that caved to investor pressure.
Personally, although LICs\LITS have some good qualities, they also have far greater disadvantages.
In some respects it's the easiest way to tell where a managers loyalty lies. If you have a fund persistently trading well below NAV for years - and they don't effectively deal with - you know you are trapped with the wrong manager.
Stricter rules are required for these investment types, which mandate a wind up/conversion when there is persistent trading at a high discount.
VG1 Price at posting:
$1.63 Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)