Are you new to LICs? An ETF or ETMF will add or remove units such that the market price matches the NTA (plus/minus the spread for the market maker). A LIC will not issue or remove new units past the IPO, apart from any capital raises or options exercise (LSF has no options on issue). Thus, share price is LIC is 100% set by the market and can trade above or below the NTA. Some LICs trade as much as 20% above the NTA (like WAM), while some trade as much as 40% below the NTA.
That is the risk you take with LICs -i.e. you may not be able to 'redeem' your units at NTA, unlike unlisted funds or ETFs. However, with that said, over time, LICs with good performance can be expected to trade consistently above NTA. The unlisted LSF NTA as of today has fallen 3% since the LIC listed, so by LSF is now trading at a 6% premium by my calculations, assuming they are perfect mirrors of one another, which is not the case.
Are you new to LICs? An ETF or ETMF will add or remove units...
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Last
$2.98 |
Change
0.000(0.00%) |
Mkt cap ! $1.854B | |||
| Open | High | Low | Value | Volume |
| $2.98 | $3.00 | $2.96 | $959.2K | 321.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4388 | $2.97 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.00 | 93014 | 8 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$2.99 |
Change
0.000 ( 0.59 %) |
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| Open | High | Low | Volume | ||
| $2.97 | $3.00 | $2.97 | 36877 | ||
| Last updated 15.48pm 03/05/2024 ? | |||||
| LSF (ASX) Chart |