Means of control
Investing and saving money may appear to be all about numbers, but they're often about fashion as well. And, like clothing fashions, investment fashions go in cycles.
Thursday, March 25th 2004, 12:41AM
by The Landlord
In recent months there has been a plethora of new offerings of listed investment companies in Australia. Some of those funds, such as Peters Macgregor Investments, are also being promoted in New Zealand. And we have our own offering in the form of the Kingfish fund.
Once these funds get off the catwalk and on to the streets, they will join other listed investment companies already on the stock exchange.
But what is a listed investment company (LIC) and why is an outfit like Fisher Funds Management - known for its unit trusts - involved in this area?
First, LICs are nothing new. They've been around for decades, with more than 100 now listed on the Australian Stock Exchange. Many Britain-based LICs can also be bought and sold on the New Zealand Exchange and are widely used by investors.
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