The Listed Investment Companies and Trusts Association (LICAT) represents the interests of Listed Investment Companies (LICs), Listed Investment Trusts (LITs) and investors holding over 700,000 interests in one or more LIC or LIT.

The sector has proved popular with investors for over 95 years, providing easy access to professional fund managers who actively manage a range of underlying asset classes which extend from Australian shares to global equities, fixed income, infrastructure and property across a range of investment strategies.

The investor base of the sector is made up predominantly of retail investors and SMSF trustees, many of whom are self-directed and who rely upon the investment expertise of the LIC or LIT manager to guide their investments.

Our Structure

LICAT is a non-profit company with a standard non-profit constitution and an elected board of directors.

Our Objectives

To protect, develop and grow the LIC and LIT sector through advocacy and education.


Membership is offered to:

  • ASX listed LICs and LITs – full membership including voting rights
  • Affiliates, who are service providers to the sector

Our Team


Mr. Angus Gluskie

Chief Executive Officer, Whitefield Limited.
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Mr. Geoff Driver

General Manager Business Development and Investor Relations, Australian Foundation Investment Company
thumbnail_2023.11.03 Jesse Hamilton-0315_YES

Mr. Jesse Hamilton

Chief Financial Officer of Wilson Asset Management (International) Pty Limited.
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Ms. Emma Davidson

Founder and CEO of Staude Capital
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Mr. Sulieman Ravell

Representative Director and Responsible Manager of NW Advice Pty Ltd and Wealth Focus Pty Ltd

Mr. Ian Irvine

Chief Executive Officer, Listed Investment Companies and Trust Association

Giving back

LICAT and our members are pleased to be supporting and contributing to a range of not-for-profit organisations.

Our members:

  • Future Generation Australian Investment Company Limited (ASX: FGX);
  • Future Generation Global Investment Company Limited (ASX: FGG);
  • Hearts and Minds Investments Limited (ASX: HM1).

Through the generosity of their investment managers, who waive the usual performance and management fees, these listed investment companies (LICs) are able to make donations to a range of not-for-profit organisations.


To see how these LICs are making a difference, click the images below:

LICAT as an Association, on behalf of its members contributes to the ASX Refinitiv Charity Foundation, participating in its annual Trading Day,

by donating an amount to support the charitable activities of the Foundation.

BEc, CA, FFin, Grad Dip Applied Finance & Investment

Angus has over 30 years’ experience in investment management and financial services. He is the Managing Director of Whitefield Industrials Ltd and has served as a Director of the Listed Investment Companies & Trusts Association since 2012.

Geoff is General Manager, Business Development and Investor Relations for Australian Foundation Investment Company and for the other Listed Investment Companies in the Group – Djerriwarrh Investments, Mirrabooka Investments and AMCIL Limited. Collectively these represent in excess of $11bn of market capitalisation. His responsibilities include strategy, capital raisings, business development and marketing. He also a Director of AISC, the group’s services company. Geoff has 20 years of experience in the LIC Sector.

Prior to joining AFIC, Geoff was with the National Australia Bank for 18 years in various roles covering business strategy, marketing, distribution, investor relations and business operations, including 3 years in the United Kingdom in executive roles. He has a Bachelor of Economics and Graduate Diploma of Finance.

Jesse is the Chief Financial Officer of Wilson Asset Management (International) Pty Limited. He is Company Secretary for WAM Alternative Assets Limited and WAM Strategic Value Limited and Joint Company Secretary for WAM Capital Limited, WAM Leaders Limited, WAM Global Limited, WAM Microcap Limited, WAM Research Limited and WAM Active Limited, in addition to Future Generation Investment Company Limited and Future Generation Global Investment Company Limited. Jesse is a Chartered Accountant with more than 14 years’ experience working in advisory and assurance services, specialising in funds management. He holds a Bachelor of Commerce, and is a member of the Governance Institute of Australia Prior to joining Wilson Asset Management, Jesse worked as Chief Financial Officer of an ASX listed company

Emma is an accomplished global investment advisor with more than twenty-three years of experience. She is founder and CEO of Staude Capital and is Head of Corporate Affairs for the ASX listed Global Value Fund where she has overall responsibility for the public communications of the company with its stakeholders and is the mainspring behind its investor relations initiatives. Prior to this Emma spent twelve years working in senior roles at several London investment banks, including as the UK head of cross asset sales at Citigroup. In 2011, she founded her own investment advisory boutique, Affinity Capital, which served a range of global clients, and where she served as Executive Director and Chairman.

As a successful business owner, Emma is acutely aware of the importance of a proactive board and active shareholder engagement.

Sulieman has over 25 years’ experience in the financial services industry. He is a Representative Director and the Responsible Manager of NW Advice Pty Ltd and Wealth Focus Pty Ltd, and is responsible for providing advice to clients, principally focused on investments and asset allocation.

He sits on the board of Glennon Small Companies Ltd and was previously a member of the Filtered Research Committee, a service aimed at avoiding product failures and assisting adviser groups in constructing approved product lists. Sulieman holds an Advanced Certificate of Financial Planning in the UK, a degree in Chemical Engineering from The University of Birmingham, and the Advanced Diploma in Financial Planning Australia.

Ian has over 40 years’ experience in sales, marketing and business development and has
worked in the financial services arena since 1986, including 14 years at the ASX until
December 2017. His role at ASX included developing and delivering educational sessions
for investors, self-managed super fund trustees and financial advisers. He is well acquainted
with the listed investment companies and trusts sector, having worked with many of its
member entities over his time at ASX. He has been Chief Executive of the Listed Investment
Companies and Trusts Association since January 2018. He holds a B. Com (UNSW) and has
been a members and trustee of a self-managed super funds since 1996.