Did you know that 98% of all companies in Europe and the US with revenues in excess of $10 million are not listed? Not only that, but the number of listed companies have been steadily decreasing since the mid 1990’s. In collaboration with Chicago based Grosvenor Capital Management, the Pengana... Show More
Listed investment companies (LICs) can provide investors with an interesting opportunity; purchasing a portfolio of securities below the intrinsic NTA value. However, 30% of the 114 LICs were trading at a discount greater than 10% at the end of January. Show More
In my column today I reflect on the explosion in fund managers raising money via LICs/LITs and how these vehicles allow them to legally circumvent the Future of Financial Advice laws that expressly ban payments of conflicted sales commissions to brokers/advisers selling funds to retail investors (click on this link... Show More