What are LICs?

LICs, or Listed Investment Companies, are publicly traded companies that invest in a diversified portfolio of assets, such as stocks, bonds, or real estate. They offer investors a way to gain exposure to a managed investment portfolio while trading on a stock exchange like regular shares. LICs typically have a fixed capital structure and may pay dividends to shareholders from their investment income. They serve as a vehicle for investors seeking professional management and diversification without directly managing the investments themselves.