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ALI, ARGO GLOBAL LISTED INFRASTRUCTURE LIMITED
nipper
post Posted: Apr 14 2020, 02:57 PM
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In Reply To: nipper's post @ Feb 17 2020, 09:07 AM

no-one is immune
QUOTE
Due to the unique nature of this external market shock, global infrastructure stocks proved less defensive than might be expected and modestly underperformed broader equity markets.

With transportation-related businesses particularly vulnerable to the effects of severe travel restrictions and reduced economic activity, airport stocks plunged -29.2% and toll roads fell -24.5%. Midstream energy stocks also tumbled -26.8% as the unparalleled collapse in global oil demand coincided with OPEC oversupply issues. However, roughly two thirds of infrastructure sectors are less-economically reactive with communications tower companies holding up much better in a relative sense, as did water, gas and electricity utilities.

In March, while the Australian share market fell -20.7%, Argo Infrastructure’s portfolio returned -8.5%, ahead of the benchmark Index (down -11.0%) with positions in communications towers, data centers and water utilities contributing to performance.

NTA is $2.35 at end-March, so ALI is trading well below at $2.01 ..... (Of course, the rights issue was pulled)



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Feb 17 2020, 09:07 AM
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QUOTE
For the half-year to 31 December 2019, the portfolio delivered a total return of +6.5%, more than double the +3.1% delivered by the Australian equity market.

Argo Infrastructure’s share price has also performed very strongly, returning +32.5% over the 2019 calendar year, which significantly improved the share price discount to NTA from -15.7% to -7.8%. The discount has narrowed further since then and the share price recently achieved a record high of $2.68.

And an increased dividend, to 3c FF a share.

Also announced a 1:6 entitlement issue at $2.25, for those being on the books 20 Feb.
QUOTE
OUTLOOK POSITIVE

We expect modest economic growth to continue in 2020, supported by accommodative monetary policy around the world.

Argo Infrastructure has made a bright start to the new calendar year, with the portfolio rising strongly along with broader global equity markets for most of January. Pleasingly, when most markets dropped suddenly at the end of the month due to growing coronavirus concerns, infrastructure again held up well, finishing the month up +7.3% and outperforming global equities which rose 4.4% in A$ terms.

This resilience may be an important attribute in the shorter term, with many global indices trading around record highs despite the potential for volatility due to coronavirus developments, Brexit implementation and US-China trade deals.

Looking further into the future, it is interesting to note the increasing exposure to renewable energy assets in the portfolio. Often this occurs through holdings in integrated energy companies such as NextEra Energy, which is currently the Company’s biggest holding. NextEra uses strong and reliable cashflows from its high-quality utility operations (Florida Power & Light) to help fund its investment in renewables, and is now the largest operator of solar and wind power generation assets in the US.

- am enjoying the ride. Infrastructure = getting rich slowly



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Aug 26 2019, 04:39 PM
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In Reply To: mullokintyre's post @ Aug 26 2019, 04:09 PM

Up on a down day 👍. And reciprocal thanks for banging on about Gold. Also up today 👏 🤑.

In got we trust



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
mullokintyre
post Posted: Aug 26 2019, 04:09 PM
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In Reply To: nipper's post @ Aug 26 2019, 10:46 AM

Thanks for the original; headsup, bought at 2.15, so happy so far.
Mick



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sent from my Olivetti Typewriter.
 
nipper
post Posted: Aug 26 2019, 10:46 AM
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QUOTE
Argo Global Listed Infrastructure Limited (ASX code: ALI) today announces a record full year profit of $44.9 million. The final dividend has been increased to 4.0 cents per share fully franked.

For the year to 30 June 2019, the portfolio delivered a total return of +22.7%, exceeding the benchmark return (and delivering almost twice the return of the Australian equity market which rose by +11.5%).




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Aug 5 2019, 11:35 AM
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QUOTE
During the June quarter, global infrastructure stocks also delivered strong returns, increasing +5.6% in A$ terms and outpacing both broader global and local share markets for the third consecutive quarter. The best performing infrastructure subsectors were those which are more sensitive to economic conditions, such as railways and airports.

Over the 12-month period to 30 June 2019, global infrastructure stocks displayed their resilience amid volatility and outperformed broader equities, posting a +21.6% gain. The performance of the asset class during volatile market conditions demonstrates that in a falling market, global listed infrastructure shares tend to fall by less than broader equities (downside protection) and, in a rising market, can increase with broader equity markets (upside capture).




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 

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nipper
post Posted: Jun 23 2019, 04:01 PM
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QUOTE
Jason Beddow, managing director of Argo Global Listed Infrastructure, says fiscal constraints in Western countries are creating opportunity. “Governments worldwide need to invest heavily in infrastructure to keep up with population growth but most do not have the balance sheet, so are encouraging private capital. The long-term outlook for global infrastructure has never been stronger.”

Beddow says global infrastructure suits investors who are overexposed to Australian shares and property. “You’re getting diversified exposure to ports, water, utilities, telecommunication towers, electricity generators and other assets, across developed and emerging countries. Chosen well, global infrastructure should provide a mix of yield and growth, with lower volatility.”
AFR



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
Mags
post Posted: Mar 19 2019, 11:11 AM
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In Reply To: nipper's post @ Mar 19 2019, 09:37 AM

Pretty much my thoughts exactly. Will dig into it.

 
nipper
post Posted: Mar 19 2019, 09:37 AM
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In Reply To: Mags's post @ Mar 19 2019, 09:04 AM

NTA is $2.30 +. International assets, unhedged so falling AUD has helped this

It's a LIC, all underlying assets are market priced.

I've made 15%, its low vol, undercorrelated, defensive. Get rich slowly

* in fact, just checked, NTA is $2.43 on the weekly Tuesday update estimate.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: Mags  
 
Mags
post Posted: Mar 19 2019, 09:04 AM
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Any thoughts? I wanted to pick some up at <$2, but real life got in the way, then the dividend doubled... and now it's $2.10...
Thoughts?


 
 


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