lic v etf

Hi all,
I have been doing a bit of reading lately as I try to come up with a strategy to build a long term portfolio. I am only in my 20’s so keen to establish a long term hold strategy as I also don’t have the time (or expertise) to try pick individual stocks that will ‘beat the market’. I have read quite a bit about the Core and Satellite strategy which I think would suit my goals, at this stage focusing solely on building the ‘core’.

My question relates to everyone’s opinion on LICs verse ETFs. My impression is LICs attempt a stock selection strategy to beat the market which results in an over/underperformance compared to benchmarks whereas ETFs generally trade in line with an index. What are people’s thoughts regarding an ARG (or AFI) v an STW (or similar) being used for this strategy?

Keen to hear your thoughts.

Cheers
Rhys