lrf investor presentation on asx, page-5

##There is no difference between this bunch and the other LIC's that do pay franked dividends and who do also earn capital gains as well as dividends.##

I'm not sure that you understand LRF or this sector. How they can pay distributions depends on their legal structure. LRF is a TRUST. Some of the other LICs are trusts, but more of them are COMPANIES. This is a big difference and determines a range of things (such as the type of distribution and how distributions are determined). I'll let you do further research if you are interested.

Also, whereas most LICs invest in industrial companies LRF invests in resource companies. Why do I state this obvious fact? Most of the LRF holdings do NOT pay dividends - hence LRF does NOT generate many franking credits making it IMPOSSIBLE to pay much by the way of franking credits (in contract to industrials that typically are paying fully franked dividends).

##the Carrousel disgrace##
I agree with you there.

MJS