Let's be realistic. Many of the recent managers of unlisted...

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    Let's be realistic. Many of the recent managers of unlisted funds that are moving to LICs are making a business decision. LICs are essentially captive money in terms of their ongoing fee revenue to the business. Managed funds, with their open-ended structure, are not. While the managers will usually claim that pushing into the listed space is a way to broaden their investor pool (i.e. those who do not wish to use wraps or platforms or invest in a managed fund directly due to generally higher fees and minimums), don't forget the commercial imperative. Fee pressure in institutional mandates and retail funds continues apace. LICs are arguable the last bastion of 'full freight' fees.
 
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