Clime Asset Management (CAM)
When I set up my SMSF in mid 2013 I placed some funds in several listed investment firms, and one was CAM it is by far the worse performer, down some 30% at the same time my daughter was also interested in the stockmarket and wanted to invest some of her savings, We, well I decided that CAM run by Clime and John Abernethy who was regularly featured in business news for his expertise would be a good conservative choice and I did spend time telling her markets as well as going up, could often go down.
Yesterday she told me when the market goes up CAM goes nowhere but when it goes down, so does CAM? I could not disagree and although I have decided to hang in there with my SMSF holding as I bought in with a long term view, iam thinking of selling her CAM and reimbursing her the money she lost as I feel so bad about having selected what I thought was well run, well respected LIC and given her a bad introduction to investing in the share market.
So the question is what is the Switzer Super report view on this LIC?