11 recent updates in the listed investment sector

7 min read
fairly difficult
Here are the listed investments making news this month, including updates on dividends, capital raisings and more.
IIR initiates coverage on Argo Global Listed Infrastructure Limited

Argo Global Listed Infrastructure Limited (ASX: ALI) is a Listed Investment Company (LIC) that listed on the ASX in July 2015. Argo Service Company Pty Ltd (ASCO), a wholly-owned subsidiary of Argo Investments Limited (ASX: ARG), is the Manager of the Company and has appointed Cohen & Steers as the Portfolio Manager. Cohen & Steers is a global investment manager in long-life assets, including infrastructure, real estate securities, natural resource companies, commodity futures and fixed-income securities. ALI seeks to provide investors a total return, consisting of capital growth and dividend income, from a diversified long-only portfolio of global listed infrastructure securities. The Portfolio Manager will seek to outperform the benchmark over the long-term, however, given the nature of the underlying investments we expect any alpha generation to be moderate. The portfolio will be actively managed and comprise 50-100 securities. IIR has initiated coverage on ALI with a Recommended rating. The full report can be found on the IIR website.

IIR initiates coverage on Magellan FuturePay

Magellan FuturePay (Chi-X: FPAY) is an exchange traded managed fund (ETMF) that is seeking to provide investors predictable, monthly distributions that grow with inflation, with the potential for capital growth and protection in down markets. The Fund will be managed by Magellan Asset Management Limited, who is also the Responsible Entity (RE) and Market Maker of the Fund. The Fund will seek to achieve its objective through an investment in a portfolio of securities that represents a blend of the Magellan Global Plus strategy (50%- 60%) and the Magellan Core Infrastructure strategy (40%-50%), in combination with a reserving strategy whereby cash will be directed to a discretionary trust ("Support Trust"). The Support Trust will be used to support distribution payments if the portfolio performance is insufficient to…
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