@Stumpedup. Thanks and I appreciate your comprehensive and honest response. It was exactly what I was after. Things I like about Schroders is that they have a significant footprint in Europe as opposed to the US,, they have been in the game for a while, they are a significantly large organization (and whilst in some cases, this can be a negative, in this case, Schroders has significant grunt, the staff involved must be pretty good to have risen to the top of their particular field of expertise in such a large organization) , as opposed to a smaller organization with less capital and expertise behind them, they have a good record of returns and I was particularly impressed with the into video conducted by (sounds sexist but unintended) a female who was head of the Private equity team who had extensive knowledge, explained the theory comprehensively and only occasionally referred to her screen. and of course the returns which have been very "acceptable" , and finally, because it is a niche investment unlike any other conventional equity investment. Our participation will be joint (myself and wife) and you are aware of the other investments we have made recently, so in % terms, it will be less of the total portfolio than yours. We will invest individually, because we are older than you, and because of the "lumpy" earnings and the "possible" time delay in redeeming funds, we figure that this investment can endure for the next generation (if required) as opposed to having to be sold to wind up a SMSF to avoid the 15% tax "rip off". This final investment will pretty much wind up the investment spending spree for now. I re-read a previous post of yours re LRF and L1IF and topped up LSF the other day when they were down after a poor month (out of character) and I doubled my investment in L!IF via the listed option. An interesting fund, where depth is hard to see, but who have Macquarie in the background as a "marketmaker" and where an investment in the listed fund is identical in every respect to the unlisted fund (without all the hassle of application forms, identity checks, ABNs and TFNs ! Oh, and I also doubled up on Auscap. I really appreciate and value your opinion, and cant wait for your "second" part where you analyse some "Stock Picks".
I wonder how
@TheCapatilist went with Auscap ? I know he was (as I am) disenchanted with WAM. There are a couple of LICs that have quite reasonable portfolios (ECP, GC1 (now), and FSI ) that are trading at approx 30% disc to NTA, but which have no depth and are thinly traded. I wonder who is going to blink first ? Once again, appreciate your effort, Thanks.
