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What are Listed investment companies?

Listed Investment Companies (or LIC’s as they are commonly known) are companies with the sole purpose of managing an investment portfolio. They are similar to traditional managed funds but rather than buying units in a trust, investors can buy shares directly in the company on ASX.

LICs are bought and sold on the market just like ordinary shares and investors can decide whether the investment style and underlying investment portfolio of a particular LIC suits their own investment objectives. LICs are a convenient way for investors to get exposure to a portfolio of securities with a single investment.

Unlike Exchange Traded Funds (ETFs), LICs are ‘closed-end’ funds meaning they do not regularly issue new shares or cancel shares as investors join or leave the fund. Instead, they issue a fixed number of shares on initial public offering (IPO) and investors can then buy or sell those shares on ASX. Occasionally, new shares may be issued to increase the size of the fund, or shares may be bought back or cancelled to reduce the size of the fund.

This closed-ended structure allows the fund manager to concentrate on selecting investments without having to factor in investor flows. This stability can be of assistance to managers who take a long-term approach to investing. Also, as companies, LICs have the ability to establish a consistent dividend policy and pay franked dividends.

As LICs trade on the ASX, they must also comply with the transparency and governance guidelines imposed by the ASX and the Corporations Law.

What does Contango offer?

Contango manages two LICs namely; Contango MicroCap Limited (CTN) and Contango Income Generator Limited (CIE). For more information on these LICs please visit the adjacent links.

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DISCLAIMER


“No U.S. offer and No Retail Product Offering”


This website is intended for Australian residents only, and is not intended for U.S. domiciled or U.S. Resident investors, or persons or entities who are located or a resident of a country located outside of Australia. Contango Funds Management Limited ABN 52 085 487 421, AFSL 23711 (‘CFML’) is the Responsible Entity of the Contango Managed Investment Scheme ARSN: 099 665 264.

The information contained on this site is intended for general information purposes only, and accordingly, has been prepared without taking into account investors individual investment objectives, financial situation or needs, and does not in any way constitute financial or general advice.

The information and product offering(s) contained on this website is for Wholesale Clients only, and are in no way intended for Retail Clients.

This website is in no way an offer to sell or an offer to buy, or an invitation for U.S. Person(s) or any other persons and/or entity who are located or are resident of a country located outside of Australia to buy securities. The information contained on this website is not made available to persons and or entities in the United States or any other country located outside of Australia or any U.S. Persons.

By proceeding, you are acknowledging and confirming, that you:

  1. are not a U.S. Person, resident of the United States of America, or currently located in the United States of America, or a person or an entity who is located or a resident of a country located outside of Australia;

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  3. are making a declaration that you qualify as a “wholesale client” as defined by section 761G of the Corporations Act (Cth) 2001; and

  4. have read and understood these terms and conditions, and have authority to enter this site.


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