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LICs and LITs

LICs and LITs are admitted under the ASX listing rules similarly to listed companies.

Eligibility

LICs and LITs are close-ended structures that are admitted under the ASX Listing Rules. This means that they are restricted by how many new securities they can create, and by how many securities they can cancel on an annual basis. Unlike open-ended ETPs which can accept applications for new units continuously, LICs and LITs have fixed periods in which they can raise new capital, such as through an initial public offering (IPO) or a subsequent capital raising such as a placement or entitlement offer. LICs are public companies, while LITs are trusts that generally take the form of an Australian Managed Investment Scheme (MIS).

Key rules and requirements

LICs and LITs are required to comply with the ASX Listing Rules in the same way as listed companies. The below includes listing rules and guidance notes that apply specifically to these entities, but please note other rules do apply.

Chapter Section Name
1 1.3.4 Investment Entity admission NTA Requirements: $15 million NTA
4 S4.10.20 Investment Entity Annual Report requirements
S4.12 Investment Entity NTA requirements: Investment entity must report NTA within 14 days of month end  
15 S15.16 Investment Entity management agreements: 5 year term
19 S19.12 Definition of Investment Entity
Guidance Note 15A Schedule of ASX Listing Fees  
Guidance Note 26 Management Agreements  

Admission process

Listing with ASX is a seven-step process that starts from appointing advisers to closing the offer.

Quick links

Admission fees

Find out more about the initial application fees and ongoing fees that apply to the proposed investment product.

Learn more
Listings

To learn more about the Listing Rules and the ongoing requirements of being a Listed Entitiy, please click on the following link.

Learn more

Contact ASX

Andrew Weaver

Senior Manager, Investment Products

Ph +61 2 9227 0575

Email

Martin Dinh

Senior Product Manager, Investment Products

Ph +61 2 9227 0318

Email

Fabiana Candiano

Product Manager, Investment Products

Ph +61 2 9227 0862

Email