Argo Investments Limited is an Australian

listed investment company 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 invest ...

(LIC), which trades its shares on the

Australian Stock Exchange Australian Securities Exchange Ltd or ASX, is an Australian public company that operates Australia's primary securities exchange, the Australian Securities Exchange (sometimes referred to outside of Australia as, or confused within Australia as, ...

(ASX). Its diversified portfolio of shares are selected for profitability and long-term growth prospects at cost-effective prices. , it is the second largest LIC in Australia. Argo invests predominantly in shares of other companies listed on the ASX.

Establishment and history

Argo Investments Limited was established in

Adelaide Adelaide ( ) is the capital city of South Australia, the state's largest city and the fifth-most populous city in Australia. "Adelaide" may refer to either Greater Adelaide (including the Adelaide Hills) or the Adelaide city centre. The dem ...

South Australia South Australia (commonly abbreviated as SA) is a state in the southern central part of Australia. It covers some of the most arid parts of the country. With a total land area of , it is the fourth-largest of Australia's states and territories ...

in 1946 by Kevin Ward QC, solicitor, and Alf Adamson, a chartered accountant who had previously worked on company valuations.

Donald Bradman Sir Donald George Bradman, (27 August 1908 – 25 February 2001), nicknamed "The Don", was an Australian international cricketer, widely acknowledged as the greatest batsman of all time. Bradman's career Test batting average of 99.94 has bee ...

was chairman of the company from 1982 to 1984. In 1990, Argo acquired investment company Schroder Dual Fund, and in 1992 it acquired Stoddarts Holdings. Argo was involved in the establishment of other LICs, including Bounty Investments Ltd and Wakefield Investments Ltd, both of which Argo maintained an investment in. In 2001, Argo merged with both Bounty and Wakefield, after making successful takeover offers for both, on the basis of offering Argo shares in exchange for shares in the companies being acquired. These terms of acquisition allowed Bounty and Wakefield shareholders to be relieved from liability to pay

capital gains tax A capital gains tax (CGT) is the tax on profits realized on the sale of a non-inventory asset. The most common capital gains are realized from the sale of stocks, Bond (finance), bonds, precious metals, real estate, and property. Not all count ...

on the disposal of their shares. The top 20 investments and Net Tangible Asset backing per share (NTA) are published regularly in th
Monthly NTA newsletters

Investment philosophy

Argo has maintained a conservative investment philosophy, holding a diversified portfolio of investments in many Australian listed public companies. It has historically paid regular semi-annual dividends to shareholders, with the 2017 full year dividend being 31 cents per share.

Argo Global Listed Infrastructure (AGLI)

For the purpose of managing a portfolio of foreign company shares, Argo launched AGLI as a separate company and listed it on the ASX (cod
ALI
on 3 July 2015. The advantage to shareholders is a single "paper trail" of income from foreign sources. AGLI is managed by ASCO, a wholly owned subsidiary of Argo.

References

{{reflist Companies based in Adelaide Financial services companies established in 1946 Investment companies of Australia 1946 establishments in Australia