I have been following this and think the short answer is that if...

I have been following this and think the short answer is that if Geoff is doing it, there's a very high probability it's a good idea. Among the numerous LICs he is involved in, I believe he has rotated out of the expensive ones in the past couple of years (WAM and WAX well above NTA) and into the more recent/ attractively priced ones (FGG, WLE, FGX and GVF).

The talent of the various managers, in-built diversification and low-cost structure (charitable no less) make this as good a bet as you can find in my books. In fact, were a SMSF to hold this and FGX you could make a good case that equities were very well covered.