SMSF growth boosts listed investment companies
Advisers believe an ever expanding self-managed super fund market is propelling the revival of listed investment companies, according to a Perpetual Investments survey.
More than half of the advisers surveyed at the Perpetual Equity Investment Company roadshow (57 per cent) cited this reason, while another 57 per cent said the ability to buy directly and trade on the Australian Securities Exchange had also helped.
Another 37 per cent said improved understanding of LICs was a reason.
Perpetual Investments portfolio manager Vince Pezzullo said adviser demand for LICs remain despite a recent decline in the market due to features like transparency and liquid investments.
Most advisers (90 per cent) said global equities were an appealing component of a LIC.
The survey comes as Perpetual Investments announced in October it was launching a LIC company, Perpetual Equity Investment Company.
The company said the LIC was created to provide regular income and long-term capital growth through investment in Australian listed securities with a mostly mid-cap focus, and up to 25 per cent of the portfolio's net asset value in opportunistic allocation to global listed securities.
The five roadshows coincided with the launch.
AUTHOR
Malavika Santhebennur
Recommended for you
The financial services technology firm has officially launched its digital advice and education solution for superannuation funds and other industry players.
The ETF provider has flagged a number of developments as it formally enters the superannuation space through a major acquisition.
While all MySuper products successfully passed the latest performance test, trustee-directed products encountered difficulties.
Iress has appointed Insignia Financial’s former general manager of master trust and insurance products as its newest CEO of superannuation, who will take over from Paul Giles.
