What’s a Diversified Investment, but not an ETF or Managed Fund? – Listed Investment Companies.
A few points about LIC are:
they perform better than managed funds and certainly better than ETFs.
They have experts there hunting out bargains and looking for growth opportunities.
They are generally run on a cheaper cost base.
Invest by buying shares in the company.
They are not forced to buy high and sell low, since they don’t have to hand back investments to customers like Managed Funds do.
A few Australian LICs are listed in:
http://ozstock.blogspot.com.au/2013/02/listed-investment-companies.html
listed investment companies
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