Can you trust the Directors of LIC's to do the right thing?
One aspect of the recent sensational events regarding Valeant Pharmaceuticals International provides a strong debating point over the governance of externally managed listed investment companies, with real relevance in Australia. Might be time to re-examine the prospectuses you subscribed to in the last two years.
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Andrew has over 40 years experience as on the buy-side, sell-side and corporate investing. Andrew currently runs East 72 Dynasty Trust, a unique long only wholesale trust investing in companies which are controlled by single shareholders or a close-knit group, usually families.
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