The LIC model portfolio: Where to from here?

With the portfolio 80 per cent invested, it’s a good time to take a closer look at its underlying holdings.

Summary: The LIC model portfolio has been running for almost four months and is 80 per cent invested. The portfolio is underweight financials and dramatically underweight materials, with 34 per cent cash (when the cash holdings of the individual LICs are taken into account). I am not in a hurry to deploy capital but when I do I will be happy to be 100 per cent invested and let the managers take care of the cash weighting.

Key take-out: From here, I would like to increase the exposure to BKI, WAX and MFF. My goal is to select a handful of the best managed LICs at the right price.

Key beneficiaries: General investors. Category: LICs.



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