So I was looking at my portfolio the other day and noticed the exit price of my Tyndall Australian Portfolio was $2.45. But then I noticed the entry price was $2.55! Add to this the buy/sell spread of 0.30%, and the MER of 1.99% and I've decided enough is enough. I've been researching listed investment companies (LIC's) and their buddies, exchange traded funds (ETF's). No entry fees, no exit fees, no buy/sell spreads and very low MER's. Sell with the click of a mouse button via online broking rather than writing to the fund manager requesting a redemption of your units. Being exchange traded, there are brokerage costs, and their price fluctuates above and below the actual value of the underlying assets so you wouldn't want to sell when your stock is out of favour for whatever reason. So I've decided to sell my Tyndall units and buy into the following: * Streettracks ASX200 (STW). 0.29% MER, dividends twice yearly, can be leveraged to 70% with most lenders. Streettracks is a simple index tracker. * Argo Investments (ARG). 0.15% MER, dividends twice yearly, can be leveraged to 70% with most lenders. Argo is a conservative buy and hold investor, has outperformed the index over the last 5, 10 and 20 years. The share price of Argo is currently higher than the underlying net tangible assets, presumably because people are prepared to pay a premium for their management expertise. 2.5% discount via their dividend reinvestment plan. * Australian Foundation Investments (AFI). 0.12% MER, dividends twice yearly, can be leveraged to 70% with most lenders (not Leveraged Equities). Australia's largest LIC. Currently trading at a discount to their net tangible assets presumably because they have underperformed the index over the last 5 years. See ya later retail managed funds. Unfortunately will be waiting a couple of months to sell Tyndall and buy these because I want the 12 month CGT discount. Still keeping my Navrainvest wholesale funds, their fee structure I am comfortable with. Plus their product is quite unique.