Investments that are listed on the stock exchange offer both flexibility and, due to the ASX? strict disclosure rules, transparency. While most people still associate the stock exchange with ordinary shares, there is actually a diverse range of products available: * Listed investment companies (LICs) have wide portfolios, principally in the industrial sector. These companies do not charge management fees (unlike managed funds). * Listed property trusts (LPTs) yield from 7% to 8% by investing in office towers, shopping centres, industrial parks, housing developments and hotels. They generally perform well in bear markets when the value of property often rises. * Exchange-traded funds (ETFs) have portfolios modelled on an index such as the S&P/ASX 200 Accumulation Index. * Interest rate securities (IRSs) offer interest returns that are at a better rate than term deposits and sometimes with tax advantages. These include hybrids (resetable convertible preference shares), floating rate notes, convertible notes and company bonds. All of these investments are wonderful vehicles for the shrewd, long-term investor and Investing with the Professionals will take you through each. It covers tax issues, offers tips on valuing an investment and includes an exciting insight into the workings of an LIC, with an in-depth interview with Milton? CEO, Frank Gooch.
