No rush to buy Perpetual’s new LIC

There’s a lot to like about Perpetual’s (ASX code: PPT) new listed investment company (LIC), but it’s not enough to overcome the fundamental problems with investing in an LIC at launch. The new LIC, to be called Perpetual Equity Investment Company (ASX code: PIC), plans to raise between $150m and $600m in an offer that closes on 28 November. The money will be invested mostly in Australian equities, ‘with a mid-cap bias’, with up to 25% in global equities and up to 25% in cash. The portfolio may also hold up to 10% in unlisted securities and may borrow up...

There’s a lot to like about Perpetual’s (ASX code: PPT) new listed investment company (LIC), but it’s not enough to overcome the fundamental problems with investing in an LIC at launch.

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