In a market that I have a good deal of uncertainty about, and...

In a market that I have a good deal of uncertainty about, and that I sense is substantially less efficient than others, and that is out of favour, i feel that exposure via an actively, and intelligently, managed LIC, makes a good deal of sense.

I thought I'd make the comment in the context of the current index fund euphoria.

If my exposure comes with a performance penalty, over the long term, then that's a price I'm willing to pay for my peace of mind.

The logic of avoiding those sectors that have been unsustainably inflated, whilst acquiring those that are probably not (ie those aligned to the Chinese consumer) makes a good deal of sense to me.