As at December 2015 we have largely completed the Affluence Fund portfolio implementation and consider the Fund to be reasonably well diversified. The Fund.. Login to read full article.
As at December 2015 we have largely completed the Affluence Fund portfolio implementation and consider the Fund to be reasonably well diversified. The Fund is invested in 9 underlying managed funds accounting for 68% of the portfolio and 13 listed investment companies comprise a further 12%. We held approximately 20% cash as a buffer against further market falls.
As you have been buying ICCs recently, most or all would have been at a premium over NTA. Was that wise? The question may be answered in your LIC Report, but I was unable to download it.
Hi David,
We do not generally buy any Listed Investment Company (LIC) at a premium to its NTA. We have recently been buying a number of small and medium-sized LICs at discounts of 5% – 20% to their NTA. We are about to release our guide to LICs which explains our process in more detail.