https://www.livewiremarkets.com/wires/the-melbourne-cup-of-lics-top-picks-and-roughies-in-a-shrinking-fieldOur top three picks for the 2020 LIC Melbourne Cup
As we've noted, it's a reduced field of LICs this year and it's likely to get smaller. Given that, we've abandoned the full form guide and focused just on our top picks for the year ahead.
Thorney Opportunities Fund (TOP)
This is one of two LICs run by billionaire Alex Waislitz. Short term performance has not been great. Longer term results have been much better. TOP is currently trading at a discount of over 20% (and was very recently at a greater than 25% discount), which cannot continue and will need to be rectified by the manager. The recent success of stablemate TEK shows what can happen when an investment strategy is paying off. TEK has delivered total returns of more than 24% over the past year. We see a similar or better outcome is possible for TOP, especially
