Top stock

  1. 7,397 Posts.
    IPF
    A great story now trading below NTA
    But this may not be the best time to enter seeing that its portfolio is made up of top blue's and is tracking the XAO ,

    A good one to keep your eye on but I think you need to wait for the XAO to turn back up .

    Any comments please



    *****************************************
    Net Asset Backing as at 31/3/02

    AUSTRALIAN FOUNDATION INVESTMENT COMPANY 2002-04-10 ASX-SIGNAL-G

    HOMEX - Melbourne

    +++++++++++++++++++++++++
    The net asset backing of Australian Foundation Investment Company
    Limited shares at 31 March 2002 was $3.31 per share (after the
    allotment of 3,451,360 shares on 7 March 2002 arising from the
    Dividend Reinvestment Plan and 8,499,928 shares in relation to the
    final conversion of the company's unsecured convertible notes into
    shares as at 31 March 2002).

    The company is a long term investor and does not intend disposing of
    its total long term investment portfolio. If estimated tax on gains
    arising from such disposal were to be deducted, the above figure
    would be $2.93 per share.

    Please see attached list of the Top 20 Investments as at 31 March
    2002.

    The net asset backing figure at 30 April 2002 is expected to be
    announced by Tuesday 14 May 2002.

    M Licciardo
    COMPANY SECRETARY


    TOP 20 INVESTMENTS - ORDINARY SECURITIES - AS AT 31/03/2002

    VALUED AT CLOSING PRICES AT 28 MARCH 2002 TOTAL VALUE
    $ MILLION
    1 NAB National Australia Bank 235.3
    2 WBC Westpac Banking Corporation 171.1
    3 WES Wesfarmers 156.5
    4 CBA Commonwealth Bank of Australia 134.4
    5 BHP BHP Billiton 98.5
    6 TLS Telstra Corporation 85.4
    7 ANZ Australia & New Zealand Banking Group 83.1
    8 TOL Toll Holdings 81.1
    9 CML Coles Myer 66.8
    10 AMC Amcor 60.7
    11 BIL Brambles Industries 48.7
    12 CSR CSR 38.3
    13 WAN West Australian Newspapers Holdings 38.1
    14 JHX James Hardie Industries 37.6
    15 PPT Perpetual Trustees 34.9
    16 WOW Woolworths 34.9
    17 AMP AMP 32.1
    18 SRP Southcorp 31.1
    19 FGL Foster's Group 30.2
    20 SUN Suncorp-Metway 29.5
    Total 1,528.3

    As % of Total Portfolio Value ($2,466m) 62.0%
    (excludes Cash & Bank Bills)

    TOP INVESTMENTS - PREFERENCE SHARES, CONVERTIBLE NOTES & INCOME
    SECURITIES

    TOTAL VALUE
    $ MILLION

    1 CMLPA Coles Myer 6.5% Reset convertible preference shares 52.3
    2 NABHA National Bank Income securities 48.2
    3 SSXPB Smorgon Steel Group 8% Reset convertible
    preference shares 24.4
    4 STOPA Santos 6.57% Reset convertible preference shares 18.3
    5 APNG APN News & Media 7.25% Unsecured convertible notes 16.5
    6 CPUPA Computershare 5.5% Reset convertible preference shares 11.1
    Total 170.7

    As % of Total Portfolio Value ($2,466m) 6.9%
    (excludes Cash & Bank Bills)



 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.