Australian Foundation Investment Company Limited

Overview

Australian Foundation Investment Company Limited (AFIC) is a publicly owned investment manager based in Melbourne, Australia. Established in 1928, AFIC specializes in investing in value stocks of companies across diversified industries in the public equity markets of Australia and New Zealand. The company employs fundamental analysis with a focus on bottom-up research to make its investments, benchmarking its portfolio performance against the S&P/ASX 200 Accumulation Index. AFIC aims to provide shareholders with long-term returns and to pay stable to growing dividends over time. As of the financial year 2024/25, AFIC's total portfolio was valued at $10.5 billion, with an annual fully franked dividend of 31.5 cents per share. The company maintains a low management expense ratio of 0.16%. AFIC's investment approach is characterized by a disciplined and long-term perspective, focusing on companies with unique high-quality assets, brands, and business footprints that can withstand business cycles. The company's portfolio is actively managed, with regular meetings with investee companies and critical assessment of external research. AFIC's goal is to provide shareholders with attractive investment returns through a steady stream of fully franked dividends and medium-to-long term capital growth at a very low cost.