Market masters top LIC performance and ratings

2014 was a busy year for Listed Investment Companies (LICs) with a flurry of new listings from established and new players. Latest research from Australian Independent Investment Research shows that at December-end 2014, there were 65 listed investment companies with a collective market cap of $26.4 billion – up over 10.6% for the year. The top performing LIC in terms of share price and NTA was the Global Masters Fund (ASX:GFL). GFL invests directly in the shares of the legendary Warren Buffett’s investment company Berkshire Hathaway, with the portfolio riding the tailwinds of a falling AUD. Of the 22 LICs covered only one has attracted the top rating of ‘highly recommended’. Future Generation Investment Company (ASX:FGX) is a collection of 14 leading Australian fund managers including David Paradice, Peter Cooper and Geoff Wilson who forego management and performance fees in order to donate them to selection of charitable causes. Livewire readers can access the latest LIC industry research on the pdf attached