Listed investment companies (LICs)

Listed investment companies (LICs) are closed-end funds that only issue a fixed number of shares on initial public offering (IPO). They allow you to invest in professionally managed baskets of Australian and international asset classes, including stocks, property and interest-bearing deposits. Investors can buy and sell shares in LICs on the ASX market.

Apply now to access LICs on our platform

Why invest in LICs?

Operating much like managed funds or exchange-traded funds (ETFs), listed investment  companies (LICs) allow you to gain exposure to a diverse range of assets with a single investment.

Although LICs offer similar exposure to asset classes available through many unlisted managed funds, they are generally more transparent as they must comply with the stock exchange’s corporate governance and reporting requirements.

Most LICs usually distribute their income by way of fully franked dividends to minimise tax and produce regular income.

LICs are ideal for investors wanting to achieve market diversification or who many not have the expertise or inclination to invest directly in other ASX-listed companies. Learn more

Usually the management costs associated with established LICs is quite competitive. The management expense ratio of LICs is generally significantly lower than similar unlisted managed funds.  

Closed-end funds

As part of a closed-end collective investment scheme, LICs don't regularly issue new shares or cancel shares, so investors must buy and sell existing shares from each other on the ASX market in order to join and leave funds. This closed-end structure lets the fund manager concentrate on selecting investments without having to factor in money coming in and out of the fund, enabling them to take a long-term approach to investing.

What’s the difference between our standard and pro platforms?

Awards that stand for value and service

CMC Markets officially offers the best value in Australia* when it comes to share trading. You get the lowest brokerage available, alongside powerful trading tools, great service and a rewarding frequent trader program.

CMC Markets
  • Best Value Australia, CANSTAR Online Share Trading award 2011, 2012, 2013, 2014, 2015 and 2016*
  • Outstanding Value Australia Casual Investor, CANSTAR Online Share Trading 2011, 2012, 2013, 2014, 2015 and 2016*
  • 2016 ABA100 Winner for Business Innovation in The Australian Business Awards for our Pro platform
  • The highest satisfaction rating for value for money, active trader platform, brokerage and charting, Investment Trends 2016**
  • Cheapest Online Broker, Money magazine Best of the Best award 2011, 2012, 2013, 2014, 2015 and 2016
  • Cheapest Online Broker, Smart Investor Blue Ribbon Award 2011, 2012 and 2013

*CANSTAR Online Share Trading Best Value Australia 2011-2016. CANSTAR Online Share Trading Outstanding Value Australia, Casual Investor 2011-2016. CANSTAR Online Share Trading Outstanding Value Australia, Active Investor 2013
** By own client satisfaction. Investment Trends 2016 First Half Online Broking Report, based on a survey of over 15,000 investors/traders.

Open an account

Access our full range of stockbroking products and share trading tools.

Sell your shares

Use our one-off sale service to sell your issuer-sponsored shares.

Land Rover BAR

As official partner of Land Rover BAR we’re backing Sir Ben Ainslie’s team to bring the America’s Cup home.

Find out more

NSW Waratahs

We’re proud to support Super XV Rugby giants the NSW Waratahs, one of Australia’s most iconic teams.

Find out more

TOP

This website uses cookies to improve your experience and access our trading platform. You can manage cookies in your browser settings or continue to use the site as normal.

x