Argo Investments Limited
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| Argo Investments Limited | |
|---|---|
| Type | Public ( Australia) |
| Founded | 1946 |
| Headquarters | Adelaide, Australia |
| Key people | Robert Patterson CEO |
| Industry | Diversified investments |
| Revenue | ▲ AU $ 134.6million (2006) |
| Net income | ▲ AU $ 123.1million (2006) |
| Website | http://www.argoinvestments.com.au |
Argo Investments Limited ASX:ARG is an Australian listed investment company (LIC) with its shares traded on the Australian Stock Exchange. Their diversified portfolio of shares are selected for their profitability and long-term growth prospects at very cost-effective prices.
The business was formed in 1946 by Alf Adamson, a chartered accountant who had been working on company valuations for a number of years. As of 2007, it is the second largest LIC in Australia.
Argo invests predominantly in shares of other companies listed on the Australian Stock Exchange, and itself constitutes 0.29% of the All Ordinaries index.[1]
[edit] Establishment and history
Argo was established in Adelaide South Australia in 1946.
Subsequently, Argo was involved in the establishment of other LICs- Bounty Investments Ltd and Wakefield Investments Ltd, and Argo maintained an investment in those companies.
In 2001, Argo merged with Bounty and Wakefield, after making successful takeover offers for both of those companies, 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 on the disposal of their shares.
Argo also has acquired other investment companies, including:
- Schroder Dual Fund Ltd (1990)
- Stoddarts Holdings Ltd (1992)
[edit] Investment philosophy
Argo has maintained a conservative investment philosophy, holding a diversified portfolio of investments in a large number of Australian listed public companies.
It pays regular semi-annual dividends to shareholders.
[edit] References
- ^ Argo Investments Limited profile (login required). E*Trade Australia. Retrieved on 2007-05-06.
