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Listed
Investment Companies are a closed end investment, meaning that management do not have to worry about people withdrawing funds. If people wish to exit the investment they can simply sell their shares, without affecting the amount of funds under management. This allows for management to take a
82:
strategy which can result in tax advantages (for example
Australia's system of paying capital gains tax on only half of capital gains if an asset is held for 12 months). This strategy also amounts to lower costs for LICs and traditionally lower fees. However, contemporary LICs often take a more
525:
137:
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in the United States. Instead of regularly issuing new shares or canceling shares as investors join and leave the fund, investors buy and sell to each other on the
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Dividends from LICs are paid out as management see fit (as opposed to mandatory distribution of all surplus funds as in unlisted managed funds. (Ross, 2007)
605:
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Viney, C. (2007). Financial institutions, instruments and markets (5th ed.). North Ryde, NSW, Australia: McGraw-Hill Irwin
Australia Pty Ltd.
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for investors, while often targeting specific markets, such as international equities, Indian equities, or
Chinese property (Viney, 2007).
541:
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Shapiro. (2006). Multinational financial management (8th edn ed.). Hoboken, New Jersey, United States: John Wiley & Sons.
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of the share price which can divert from net tangible assets per share as the market digests related news. (Shapiro, 2006)
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Ross, S. T. (2007). Fundamentals of
Corporate Finance (4 ed.). Sydney, NSW, Australia: Mcgraw-Hill Irwin.
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more long term approach to investing if deemed favourable (Viney, 2007).
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This article about an
Australian corporation or company is a
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48:. They are traded like other securities on the Australian
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Owners of shares in listed companies must ride out the
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active approach to portfolio management (Ross, 2007).
93:LICs must comply with transparency and governance
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273:Qualifying investor alternative investment fund
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233:Labour-sponsored venture capital corporation
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370:Socially responsible investing
300:Split capital investment trust
138:Australian Stock Exchange site
99:Australian Securities Exchange
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258:Open-ended investment company
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78:Traditional LICs employ this
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62:Collective investment schemes
578:. You can help Knowledge by
516:Returns-based style analysis
279:Real estate investment trust
34:collective investment scheme
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451:Efficient-market hypothesis
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290:Short-term investment fund
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238:Listed investment company
207:Fonds commun de placement
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18:listed investment company
635:Australian company stubs
625:Exchange-traded products
446:Arbitrage pricing theory
64:for generic information.
521:Traditional investments
506:Commodity pool operator
480:Noisy market hypothesis
475:Modern portfolio theory
325:Unitised insurance fund
253:Open-ended fund company
195:Common contractual fund
501:Alternative investment
415:Institutional investor
86:LICs provide a lot of
315:Unit investment trust
175:Investment management
305:Tax transparent fund
201:Exchange-traded fund
360:Manager of managers
268:Private-equity fund
470:Martingale pricing
380:Thematic investing
345:passive management
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334:Investment styles
140:- Australian LICs
38:investment trusts
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630:Investment funds
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389:growth investing
355:Impact investing
223:Investment trust
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494:Related topics
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50:stock exchange
40:in the UK and
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310:Umbrella fund
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106:Disadvantages
101:(Ross, 2007).
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580:expanding it
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511:Robo-advisor
456:Fixed income
387: /
343: /
263:Pension fund
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80:buy and hold
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485:Yield curve
398:Terminology
350:Hedge Funds
243:Mutual fund
183:Investment
36:similar to
619:Categories
320:Unit trust
228:Hedge fund
218:Index fund
187:structures
123:References
113:volatility
95:regulation
69:Advantages
30:closed-end
26:Australian
464:Convexity
542:Category
460:Duration
56:See also
24:) is an
275:(QIAIF)
439:Theory
341:Active
281:(REIT)
526:UCITS
385:Value
295:SICAV
209:(FCP)
203:(ETF)
197:(CCF)
576:stub
550:List
185:fund
46:ASX
22:LIC
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16:A
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20:(
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