Thanks Cutty,Some valid points. If I could be a bit more...

Thanks Cutty,

Some valid points. If I could be a bit more specific in my question and ask does one have an advantage in relation to NAV appreciation? That way we remove the sentiment of investors towards the LIC/LIT/ETF and focus more so on the quality and performance of the underlying companies that are held. In addition, I suppose I could go one step further and ask; if both structures held the same companies in the same percentages, would there be any meaningful difference in NAV performance given one is a LIT, and one is an 'active ETF' type fund.