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Kate, welcome back to the Australian Finance Podcast.

LICs.

Okay.

So L-I-C is not L-I-C-K.

Yeah.

Okay.

Yeah.

Nice.

So these are pretty popular on the ASX, the Australian Stock Exchange.

And some people might weigh them up beside managed funds or ETFs and index funds.

They might be thinking LICs sound very similar to those things, but they're a little bit different, right?

Okay.

Do you want to explain what a LIC is or do you want me to explain it?

Okay.

So let's imagine, because I find these are really good to use an example because we're about to talk about two different types of prices.