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An ASX-listed investment company focusing on ASX 100 companies ranked by corporate governance standards has negotiated a significant reduction in its total expense ratio and appointed a portfolio manager from Evans Dixon. Australian Governance Masters Index Fund (AQF) invests in between 75 and 85 ASX 100 companies, with a number excluded based on governance screening. Companies are weighted based on their relative weightings after said stocks are excluded from the index.       AQF's investment manager is Walsh and Company Asset Management, with whom AQF has negotiated a reduction in the total expense ratio from 0.49% of gross assets to 0.19%. AQF chair Jeff Whalan explained that "investor appetite for index funds is strong and we are keen to provide better value for investors, grow our investor-base and build AQF's scale." [More]

One of the unique differences of Listed Investment Companies (LICs) compared to Exchange Traded Funds (ETFs) is their ability to trade at a significant premium or discount to their Net Asset Values (NAVs), also known as Net Tangible Assets (NTAs). What are NAVs and what do they mean? As explained in our guide to ETFs & LICs, an example helps explain the concept of NAVs and how they can vary with LICs. Let’s take a LIC called XYZ company.  Today it is trading for $0.80 per sh ... [More]

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