Is INIF a Listed Investment Company?

No, INIF is an exchange quoted managed fund. This means it will not trade at a discount or a premium to its underlying net asset value like a Listed Investment Company (LIC) can do. Also, all listing costs are covered by InvestSMART and not the Fund. It is common to see a LIC take the listing costs out of the portfolio itself. This means if you pay $1 per share during the Initial Public Offer for a LIC, the costs of listing will come out of that dollar and it is common to receive $0.97 or $0.98 per share due to those costs. This is not the case with INIF. At the initial offer period you will pay $2.50 per unit and upon listing it will be worth $2.50.