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Australian Foundation Investment Co. Ltd. (ASX: AFI) Share Price and News

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Australian Foundation Investment Co. Ltd. (ASX: AFI) is a Melbourne-based listed investment company (LIC). Established in 1928, today AFIC has grown to become Australia’s largest LIC with around 130,000 shareholders. AFIC aims to provide its shareholders with a diversified portfolio capable of delivering consistent growth, fully franked dividends, and low volatility whilst minimising risk.

AFIC promotes its long-term approach to investing, aiming to buy-and-hold companies over the medium to long-term rather than seeking to trade on business cycles. According to ASIC, its focus is on high-quality companies and assets that have the necessary characteristics to withstand business cycles. It does, however, also operate a trading portfolio, no greater than 10% of its total portfolio, which it relies on to capitalise on shorter-term opportunities as they are presented by the market

AFIC first listed on the ASX back in 1962. Like most ASX shares, the AFIC share price was hit hard by the February/March selloff. As at September 2020, the AFIC share price has gone on to recover much of those losses but is yet to reach its pre-pandemic highs.

Australian Foundation Investment Co. Ltd. (ASX: AFI) Latest News

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