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Is it the end of the Listed Investment Company?, page-75

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IrishDigger

183 Posts.

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11/08/19

21:55

Post #: 39957212
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Originally posted by SimonGr: ↑

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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More comments on FGX here,

https://hotcopper.com.au/threads/ann-investment-update-nta-may-2019.4811272/

WAM Price at posting: $2.12 Sentiment: None Disclosure: Held
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(20min delay)
Last $1.48		Change 0.000(0.00%)		Mkt cap ! $1.647B

Open	High	Low	Value	Volume
$1.49	$1.49	$1.48	$1.031M	696.7K

Buyers (Bids)

No.	Vol.	Price($)
18	101600	$1.48

Sellers (Offers)

Price($)	Vol.	No.
$1.48	31190	1

View Market Depth

No.	Vol.	Price($)
18	101600	1.475
34	325406	1.470
6	90975	1.465
11	75206	1.460
2	11208	1.455

Price($)	Vol.	No.
1.480	31190	1
1.485	5000	2
1.490	267484	6
1.495	63500	3
1.500	415405	13

Last trade - 16.10pm 02/05/2024 (20 minute delay)


Last $1.48			Change 0.000 ( 0.01 %)
Open	High		Low	Volume
$1.48	$1.49		$1.48	432545
Last updated 15.54pm 02/05/2024 ?

WAM (ASX) Chart