In my opinion it's beneficial to own a stake in all the major...

In my opinion it's beneficial to own a stake in all the major LICs, not so much to minimise risk through diversification (though this is probably a benefit), but to give you the most opportunities to participate in SPPs and the various rights issues that the companies make available from time to time.

For example, owning shares in CHO and MLT recently allowed you to take part in both of these companies' SPPs, both of which were priced at a reasonable discount to market price.

Although ARG didn't offer an SPP recently, it normally would have around this time of year.