WAM 0.31% $1.63 wam capital limited

I manage a portfolio for my ageing parents. Sometime ago they...

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    I manage a portfolio for my ageing parents. Sometime ago they asked me the same question for all 11 of their grandkids. After discussion, we invested in FGX for a couple of reasons:
    - it’s very diversified across top fund managers
    - it’s actively managed for risk across long, absolute, long-short and cash weightings
    - zero fees (no Director fees, no management fees, no chess fees etc). The fund managers donate their fees back into the LIC
    - a 1% charitable donation is given away each year by the LIC to children’s charities (and the kids can chose which ones for their shares)
    - regular dividends are reinvested with a small discount to the SP.

    So a lovely mix of introducing kids to investment and philanthropy. Performance has been good - less than ASX200, but you expect that given its weighting and lower volatility/risk. Conversations with the kids about choice of charity is very rewarding too.

    BTW - FGX was setup by Geoff Wilson after borrowing the idea from a similar fund in London.

    Cheers. Simon
 
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