Argo to launch new LIC
Publicly listed investment company, Argo Investments Limited has announced its intention to create a new listed investment company, Argo Global Listed Infrastructure Limited.
Announcing its intended move this week, the company said the new structure would invest in a diversified portfolio of global listed infrastructure securities and global infrastructure fixed‐income securities.
It said the portfolio would be diversified by geography and infrastructure sub‐sectors, including airports, water, pipelines, railways, ports, satellites, toll roads, telecommunications towers and electricity, gas and renewable energy utilities.
Announcing the move, Argo chairman, Ian Martin, said the creation and management of AGLI would add a new, long‐term income stream for Argo Investments Limited.
Specialist infrastructure manager Cohen & Steers will actively manage the AGLI portfolio as a sub‐advisor.
The announcement said that while the final decision to proceed with the launch of AGLI was subject to market conditions, it was expected that a prospectus for the AGLI listing would be lodged with ASIC in late May.
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