There has been a huge trade over the last three years for Australian retirees buying unhedged international, particularly US equity market exposure, and taking advantage of the fall in the Aussie dollar and the rise in international equities. But I was reading a Listed Investment Company (LIC) report this week and they noted that their coverage list of international LICs had underperformed the MSCI World Index (a proxy for what this group of LICs should have done) by 5.4%, not over 2015, but in January 2016 alone. In one month. Clearly some Australians are bailing out of the international bet.... read more - (VIEW LINK)