The end of the stamping fee exemption form the new financial year has presented a set of new challenges and opportunities for both listed investment companies (LICs) and listed investment trusts (LITs) as the sector wants to see a “defined, transparent and efficient method” to provide sound advice and for advisers to be fairly renumerated. LICAT’s chair, Angus Gluskie, said the LIC/LIT, stockbroking and advisory industry would be making adjustments to their processes and systems to accommodate the requirements of the new legislation. “Our industry would hope that as market conditions themselves stabilise, that a further range of LICs and LITs can be brought to market, in turn providing investors with a continued albeit gradual expansion of investment choice as well as the benefits provided by closed-ended investment vehicles”
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/ Super Review