Announcement PDF Argo Investments Limited ABN 35 007 519 520 NTA & Top 20 Investments 31 March 2016 Argo Investments Limited (ARG) is a listed investment company which manages a diversified portfolio of Australian investments with the objective of maximising longterm returns to its shareholders through a balance of capital and dividend growth. Company profile: Net Tangible Asset backing per share (NTA) Argo shares offer investors a professionally managed, diversified and easily traded exposure to the Australian share market, without the need to pay fees to an investment manager. The NTA as at 31 March 2016 was $6.87 per share. Argo is a long-term investor and does not intend to dispose of its long-term portfolio. However, under current Accounting Standards the Company is required to provide for tax that may arise should the entire portfolio be disposed of on the above date. After deducting this theoretical provision, the above figure would be $6.17 per share. Argo was established in 1946 and is a longterm investment company listed on the Australian Securities Exchange (ASX code: ARG). The Company has over 80,000 shareholders and a market capitalisation of $4.9 billion, which places it within Australia’s top 100 listed companies. Top 20 investments Percentage of total assets as at 31.3.16 % Westpac Banking Corporation 7.2 Telstra Corporation Ltd. 4.9 Commonwealth Bank of Australia 5.1 Australia and New Zealand Banking Group Ltd. 4.9 Wesfarmers Ltd. 4.8 National Australia Bank Ltd. 3.4 Macquarie Group Ltd. 3.3 BHP Billiton Ltd. 3.1 Australian United Investment Company Ltd. Argo uses extensive research and direct company visits to identify well managed, listed Australian businesses that operate in sound industries, have good cash flow and the potential to grow dividends. The Company seeks to buy or add to its longterm holdings in those businesses at times when share prices compare favourably to long-term valuations. 2.5 Milton Corporation Ltd. 2.5 Rio Tinto Ltd. 2.3 CSL Ltd. 2.3 Sydney Airport 2.1 Woolworths Ltd. 1.9 APA Group 1.9 Ramsay Health Care Ltd. 1.9 AMP Ltd. Low management costs: Argo is internally managed and does not charge fees to shareholders. This internal management structure helps to maintain low operating costs. For the year ended 30 June, 2015, total operating costs were 0.15% of average assets at market value. 1.5 Amcor Ltd. 1.5 AGL Energy Ltd. 1.4 Brambles Ltd. 1.4 Top 20 equity investments Cash and term deposits Argo Investments Limited Website www.argoinvestments.com.au Email invest@argoinvestments.com.au Telephone 08 8210 9500 Postal Address GPO Box 2692 Adelaide SA 5001 Registered Address 19 Grenfell Street Adelaide SA 5000 Investment process: Share Registry Website Telephone Postal Address 59.9 1.1 Dividends: Argo has paid dividends every year since its inception. In the past 12 months Argo has paid two fully franked dividends to shareholders 2015 final 2016 interim Computershare Investor Services www.investorcentre.com 1300 350 716 (in Australia) +61 3 9415 4296 (outside Australia) GPO Box 2975 Melbourne VIC 3001 15.5 cents per share 15.0 cents per share