Original article by Michael Roddan
The Australian – Page: 18 : 23-Jan-18
The Australian Foundation Investment Company has posted a 2017-18 interim profit of $A136.4m, which is 15.6 per higher than previously. Its investment portfolio achieved a return of 6.9 per cent for the half-year, while the benchmark S&P/ASX 200 gained 8.4 per cent. AFIC failed to benefit from a rally in small and mid-cap resources stocks, as its focus in the sector is on large-cap stocks. AFIC CEO Mark Freeman notes that elevated share price means it is hard to find stocks that are fairly valued at present.
AUSTRALIAN FOUNDATION INVESTMENT COMPANY LIMITED – ASX AFI, STANDARD AND POOR’S ASX 200 INDEX, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, WESTPAC BANKING CORPORATION – ASX WBC, WESFARMERS LIMITED – ASX WES, TREASURY WINE ESTATES LIMITED – ASX TWE, TRANSURBAN GROUP LIMITED – ASX TCL, MACQUARIE GROUP LIMITED – ASX MQG, WESTFIELD CORPORATION – ASX WFD, CSL LIMITED – ASX CSL, INCITEC PIVOT LIMITED – ASX IPL, COCA-COLA AMATIL LIMITED – ASX CCL, QBE INSURANCE GROUP LIMITED – ASX QBE