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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 $1.46		Change -0.005(0.34%)		Mkt cap ! $1.625B

Open	High	Low	Value	Volume
$1.47	$1.47	$1.46	$793.5K	542.2K

Buyers (Bids)

No.	Vol.	Price($)
7	188730	$1.46

Sellers (Offers)

Price($)	Vol.	No.
$1.47	130446	7

View Market Depth

No.	Vol.	Price($)
7	188730	1.455
46	432296	1.450
3	165000	1.445
17	179447	1.440
6	47445	1.435

Price($)	Vol.	No.
1.470	130446	7
1.475	66845	9
1.480	11773	2
1.485	20830	2
1.490	21177	5

Last trade - 15.57pm 13/05/2024 (20 minute delay)


Last $1.46			Change -0.005 ( 0.68 %)
Open	High		Low	Volume
$1.47	$1.47		$1.46	320329
Last updated 15.58pm 13/05/2024 ?

WAM (ASX) Chart

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