Is it the end of the Listed Investment Company?, page-6

Hi polpak.
Share your sentiments on the senate but if Labor play it smart, they can be bought.
Don't necessarily agree the change in franking credits will only affect some investors.
My case for example as a self funded retiree with no super would be adversely affected.
My net income would be reduced by around 12% under the proposed legislation and as such I have sold off around 60% of my portfolio and hold large cash reserves in pathetic fixed term deposits until the dust settles. One of the casualties of my sell-off was WAM, a company I have been happy with under current legislation. No doubt there are other retirees in a similar position who have "gone to cash" and I am sure this is having an indirect affect on share prices of companies such as WAM, which means you are also an indirect casualty.
Remember, by Labor's own projections, this is going to return government $58 billion over the next 10 years. There will be pain.