Listed investment companies
LICs are incorporated as companies, and are closed-ended funds.This closed-ended structure allows the fund manager to concentrate on selecting investments without having to factor in money coming into or leaving the fund. This stability can be of assistance to managers who take a long-term approach to investing. As companies, LICs havethe ability to pay franked dividends.
Listed investment trusts are incorporated as trusts, are also closed-ended vehicles. Investors buy and sell existing units on ASX. While LICs have the ability to pay franked dividends, LITs must pay out any surplus income to investors in the form of distributions. These distributions carry the franking levels allocated by the underlying investments.
www.asx.com.au/products/managed-funds/lics-lits.htm
Exchange Traded Fund (ETF) is a type of open-ended fund traded on market. It typically tracks an index, however some ETFs track specific assets. An ETF should trade at or very close to its underlying net asset value (NAV). ETF is managed to replicate the performance of the specified index or asset. The ETF manager's job is to ensure the fund's holdings generally match or track the composition of the index. The number of units in the fund is not fixed. The ETF issuer can create or buy back (redeem) units in response to demand from investors. You should be aware of the risks and benefits of the different ETF types. Reading an ETF's PDS is an important step in understanding the risks and benefits unique to that ETF.
In contrast, actively managed funds aim to outperform a specified benchmark. The fund manager constructs a portfolio that varies from the composition of the index in an attempt to achieve outperformance. The number of units on issue in a closed-ended fund is fixed. Investor demand can result in the unit price trading at a significant premium or discount to NAV.
Listed investment companiesLICs are incorporated as companies,...
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Last
$1.32 |
Change
0.005(0.38%) |
Mkt cap ! $389.9M | |||
| Open | High | Low | Value | Volume |
| $1.32 | $1.33 | $1.32 | $206.3K | 156.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 56555 | $1.32 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.33 | 165926 | 7 |
View Market Depth
| Last trade - 14.43pm 23/04/2024 (20 minute delay) ? |
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Last
$1.32 |
Change
0.005 ( 0.38 %) |
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| Open | High | Low | Volume | ||
| $1.32 | $1.32 | $1.32 | 42569 | ||
| Last updated 14.43pm 23/04/2024 ? | |||||
| PMC (ASX) Chart |