Steady demand for LICs and LITs

Although the overall market capitalisation for the listed investment company (LIC) and listed investment trust (LIT) sector dropped 2% to $44 million over 2019/20, against a 10.9% drop in the market capitalisation of the S&P/ASX200, the sector’s market cap went up 9.1% during the height of the COVID-19 pandemic, according to data from the Listed Investment Company and Trust Association (LICAT).