IIR Research Report: https://dpsi7pmz5b6vt.cloudfront.net/uploads/media/3724/AUF_Sep_16.pdf Biggest issue not really highlighted is the fee on fees which is a problem with Fund of Funds except for the unique arrangement with FGX / G. A very quick calculation from the latest Annual Report determined the MER to be roughly around 1.7% but please check. A cash cow no doubt for the Dixon Advisory group who collect the fees both direct and indirectly through directorship. I assume many of the group's client are advised to invest in the entire range of "Masters" LICs. Latest NTA Report: http://www.asx.com.au/asxpdf/20160913/pdf/43b4v59csm5880.pdf Trying to give this new forum a bit of a kick along but not sure the interest is here. I've done my best but given the time and energy involved I will leave it to others now to see if they are motivated enough to keep things going in the LIC section here.