Arie, the key advantage of PIXX and PAXX over the LIC’s (PMC and PAI) are their open ended structure which effectively provide entry/exit very close to NAV. Some would counter-argue that LIC’s offer the benefit of knowing ahead of 30 June the exact tax outcome that a trust can never provide with certainty. A trust must pay out income and realised capital gains, while a company declares a dividend, paid from retained earnings. With pooled vehicles, one has to weigh up preferences around the structure.
Dean, this is indeed one of the key reasons for launching these products, which along with the mfund platform, acknowledge that the application form is a key barrier to many Australians having balanced portfolios and accessing the skill required to invest successfully overseas