Have We Learnt Nothing From Investing In Closed End Funds / ASX LICs In The Last 30 Years?

Getting back to the old CEF study I have been referring to, we can point to some significant liquidation events occurring around the GFC in Australia. The approximate numbers I remember is that the LIC universe consisted of about 60 leading up to the GFC. Nearly a third of them somehow disappeared over the following few years. Yet as I write today we have easily more than 100! I suspect when a lot of these IMA terms expire, we may well lose about a quarter of the LICs that exist today.

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