and UMAX isn't an LIC.
it's an ETF which uses covered call options to generate income.
I think it's ok for 1) people who like to invest outside Au in ETF's (because they have terrible yield) 2) people who want very defensive regular income and tax is an issue
another LIC l used to use was BKI have not checked the yields on that. not really interested
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and UMAX isn't an LIC. it's an ETF which uses covered...
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