Traditionally, the main differentiating factor between Exchange Traded Funds (ETFs) and Listed Investment Companies (LICs) was the employed style of management.
However, with a growing suite of rule-based Exchange Traded Products this is now much less pronounced. Given the persistence of discounts, many actively managed closed-end funds are also now opting to restructure through the appointment of market makers and by disclosing all holdings on a daily basis.
Bell Potter’s Indicative NTA tracks the ‘indicative’ movement of a LIC’s underlying NTA each month by monitoring the percentage movements of the disclosed holdings and using an index to track the movement of the remaining positions.
For full details refer to the detailed report below or click here to download your copy.