A listed investment company (LIC) is an Australian closed-end collective investment scheme similar to investment trusts in the UK and closed-end funds in the United States. Instead of regularly issuing new shares or canceling shares as investors join and leave the fund, investors buy and sell to each other on the ASX. They are traded like other securities on the Australian stock exchange.

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References

Viney, C. (2007). Financial institutions, instruments and markets (5th ed.). North Ryde, NSW, Australia: McGraw-Hill Irwin Australia Pty Ltd.
Shapiro. (2006). Multinational financial management (8th edn ed.). Hoboken, New Jersey, United States: John Wiley & Sons.
Ross, S. T. (2007). Fundamentals of Corporate Finance (4 ed.). Sydney, NSW, Australia: Mcgraw-Hill Irwin.
Australian Stock Exchange site - Australian LICs

v t e Investment management
Investment fund structures	Common contractual fund (CCF) Exchange-traded fund (ETF) Fonds commun de placement (FCP) Fund of funds Index fund Investment trust Hedge fund Labour-sponsored venture capital corporation Listed investment company Mutual fund Offshore fund Open-ended fund company Open-ended investment company Pension fund Private-equity fund Qualifying investor alternative investment fund (QIAIF) Real estate investment trust (REIT) Royalty trust Short-term investment fund SICAV Split capital investment trust Tax transparent fund Umbrella fund Unit investment trust Unit trust Unitised insurance fund
Investment styles	Active / passive management Hedge Funds Impact investing Manager of managers Social finance Socially responsible investing Social trading Thematic investing Value / growth investing
Terminology	Closed-end fund Fund governance Institutional investor Net asset value Open-end fund Performance fee
Theory	Arbitrage pricing theory Efficient-market hypothesis Fixed income (Duration, Convexity) Martingale pricing Modern portfolio theory Noisy market hypothesis Yield curve
Related topics	Alternative investment Commodity pool operator Robo-advisor Returns-based style analysis Traditional investments UCITS
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References