Newbie alert Slightly off topic, but if someone doesn't mind answering I'd appreciate it.. How do you actually invest in a LIC with a Margin Loan account (BT)? I've only ever invested in managed funds, which is simply a form. And how to you check a LIC price vs its current NTA?
LICs are traded just like any other share on the stock exchange. You invest in it with a margin loan account exactly the same way you would an ordinary share with that margin loan account. You can find more information about them at How do Listed Investment Companies (LICs) work on ASX ... and there is a link on that page to a report showing current prices versus NTAs ... http://www.asx.com.au/investor/pdf/lic_nta_report.pdf
Is there any way to purchase on the spot (to get the price you want) without filling out forms? something linked directly to the margin account.. I may have read something but could be wrong. Thanks
You would normally buy and sell shares (including LICs) through a broker, with the trades settled through your margin account - so yes, you do get to purchase "on the spot" as you put it. There's no difference between LICs and normal shares in this regard - discuss with your margin lender how you can trade shares through your margin account.