Just received a letter from Lakehouse Capital, the Motley Fool owned investment fund set up by Joe Magyer, stock picking guru extraordinaire:

The Issuer and the Investment Manager are proposing to transition the Fund to become an exchange traded fund ("ETF") quoted on the Australian Securities Exchange (“ASX”). An application has been made to the ASX to admit the units in the Fund ("Units") to be quoted on the ASX. Once the Fund has been accepted on the ASX, Units can be traded on the ASX like any other quoted security under the proposed name 'Lakehouse Global Growth Fund Active ETF' and ticker code 'ASX: LHGG'.

It is important to note that there will be no change to the objective or strategy of the Fund upon transition to ETF.

Am a very happy Day 1 fund inception investor - it has returned ~154% since, despite Joe Magyer leaving some years now. It provided, and still provides, very good international exposure via a high concentration portfolio of hard core MF Pro-like companies to diversify from my then (and now) MF Pro ASX-focused growth portfolio.

This transition will make it significantly easier to manage this investment - a good thing!