AFIC: turning a big ship

AFIC's results highlighted a growing exposure to medium sized and smaller companies

Listed investment company (LIC) results tend to be a bit of a non-event. If you’ve kept up with the announcements on net tangible assets (NTA) you’ll know how an LIC has performed through the year. On the basis of Chart 1, we could tell that Australian Foundation Investment Company’s 2016 performance was going to be down on last year.

Increased dividend

Negative portfolio return

More exposure to smaller stocks

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