When picking stocks, it’s widely accepted that buying high quality businesses at a discount to their value is the best path to long term success. When choosing great fund managers, the same principles apply. But where do you find discounts? ASX Listed Investment Trusts and Listed Investment Companies (LICs) can sometimes offer the opportunity to invest with some of Australia’s best fund managers at significant discounts to their asset values. And right now, those discounts are at record levels.
The Affluence LIC Fund is an unlisted managed fund that invests in a portfolio of LICs. We formed the fund in 2016 after we saw the opportunity to take advantage of discounts in the sector. The fund pays distributions quarterly, we charge no fixed fee, simply a performance fee based on positive total returns delivered.
In this Fund In Focus, we discuss the quality of managers in the LIC sector, how we capture additional profit from LICs that trade at higher than usual discounts, and why now is the time to invest in LICs.
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Invest in LICs without the hard work
The Affluence LIC Fund invests exclusively in ASX listed LICs and LITs. The fund seeks to take advantage of inefficiencies, allowing investors to gain exposure without the need to research each security.