WAM Poor Performance over last 5 year, page-32

I completely agree with you on the fees, and personally prefer the ‘boring’ old style LICs that charge a management fee often similar or lower than an ETF!

My original post wasn’t to defend the ‘high cost’ LICs like those in the Wilson stable (notice I’m a non-holder), merely to point out that many investors simply don’t seem to care. They get a fat divvy every six months, they get comfort from a stable share price and they know their money is being spread across a range of stocks. Quite simply, they’re happy with the deal they’re getting, and whether you, or I, raise our eyebrows when it comes to fees, it matters not one bit.

I Should add that I’m not in need of a fat divvy, so my choices could be different from that that do.