Billions of dollars of listed investment company options are sitting in the hands of Australian investors, threatening to create a second class of shareholders that would ostensibly be worse off than their co-investors if a LIC succeeds and bests its IPO price.
The LIC boom in Australia has been a stunning success, tapping into demand for products that are liquid, easily accessible, with the benefit of listed company governance standards and a wonderland of vanilla to edgy investment styles.
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Vesna Poljak is the Companies editor. She was previously the Markets editor with a special interest in the investment industry, hedge funds and accounting. She is based in the Sydney newsroom. Connect with Vesna on Twitter. Email Vesna at vpoljak@afr.com
