SIAA Securities & Managed Investments Practice Questions - SIAA Securities & Managed Investments Accreditation Exam

LICs are open-ended trusts, while ETFs are closed-ended corporate entities LICs are closed-ended investment companies with a fixed capital structure, meaning their share price can trade at a premium or discount to their Net Tangible Assets (NTA) LICs can only invest in international fixed income, while ETFs are restricted to Australian equities LICs do not have a board of directors, whereas ETFs are governed by a board of directors