Looking for value in the listed investment company sector

Peter Rae

Independent Investment Research

In this month’s Independent Investment Research LMI Update we take a look at a number of listed investment companies that are trading at discounts to pre-tax NTA, but have produced strong returns over at least a three year period. From our performance tables we have identified nine LICs that were at a discount to NTA of more than 5% at 31 July but yet have delivered pre-tax NTA returns at least equal to benchmark over a three year period. We discuss some of these LICs and look at potential catalysts that might move the share prices closer to NTA.


Peter Rae
Independent Investment Research

Peter has 35 years’ experience in the banking and finance industry, including 15 years as an equities analyst. Peter was a sector head in the equities research team at Morningstar with a focus on consumer and industrial companies.

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