Mick, you sound as though u r on a bit of a downer... I agree...

Mick, you sound as though u r on a bit of a downer... I agree that smaller LICs will be harder and less liquid to trade, but the only factor when buying or selling is the trading price and I dont really think that NTA comes into it very much. After all, NTA is the measure of the manager; pick a gud manager and they will make the fund perform and the NTA will just be an indication of their performance. Take NSC as an example of poor performance, but then go and have a look at WIC ( on their web site) and have a look at the graph and the discount to NTA as an indicator of their good performance. I mean look at Amcor. Good company ? But they have made the takeover decision and will substantially be offshore and has been hammered as a result. What I am trying to say is that the actions of the managers will affect the share price good, or bad. Having your money in a fund or LIC spreads the degree of risk only, and the share price of the LIC will rise or fall according to the decisions made by the managers in relation to the shares that it holds, and I guess ultimately the NTA will be affected. Then again, do you consider buying AMC or RHC based on their NTA ?
Most of my shares are in our SMSF, so I am a little different than you, although as I compulsorily withdraw funds from the SMSF, I am building a portfolio outside the SMSF in my own name.
I am with directshares (CMC) and also Comsec, soI will attempt to have a look and see what and how to find mFunds and see what theyre about. Although I agree with you in one respect, the best test of your investment decision is the sleep at night test. At the end of the day, if you are concerned about the security of your money and it is worrying you, then sacrificing 1% of the return is good insurance for your peace of mind. Bennelong have a good track record of returns and integrity. Chess 10 may be the introduction of the blockchain system where payments and transactions are instantaneous.... I know that major institutions are planning its introduction, but dont know when. Always good to exchange views and hints. Thanks.