I think you are better off investing in HML than the BHD float. It is more value with HML, pricing-wise. The only difference I can see between the 2 LICs is that BHD is much more expensive in terms of management and performance fees. The statement that BHD is more concentrated is mere marketing as HML can be more concentrated if it wants to be.
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I think you are better off investing in HML than the BHD float....
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