We provide a simple, low-cost way to expose your clients to a diversified portfolio of Australian equities.

Why choose AFIC for your clients?

Diversified portfolio primarily of Australian and New Zealand equities

Low management cost of 0.14% and no additional performance fees

Tax-effective income via fully franked dividends

Consistent after tax paid investment returns achieved over the long-term

Professionally managed with an experienced board, investment and management team

Easy to invest with no hidden costs

Regular shareholder meetings

AFIC is Australia’s largest listed investment company on the Australian Securities Exchange (ASX). Established in 1928, we specialise in investing in Australian equities.

Portfolio Facts

AFIC invests in a diverse range of Australian companies generally held for the long-term

Portfolio size: $9.7 billion at 27 February 2024

Investment style: active, fundamental, bottom-up, value

Suggested duration: 5-10 years

Net asset backing: released every month with top 25 investments

Download AFIC profile for planners

Profile Planner (277KB)

Explore independent investment research from research firms.

Listed Investment Companies (LICs) are similar to managed funds but differ in important ways that allow for long-term investment, low fees, and fully franked dividends.

Download LIC pamphlet

AFIC What is an LIC (782KB)

LICs are closed-end funds with a fixed number of shares that are traded on the ASX. As a result, AFIC does not issue or cancel shares as investors enter and leave the fund. This allows us to concentrate on the performance of the portfolio over the long term.

Furthermore, the closed-end structure removes the motivation to shadow indices, allowing us to remain focused on the long-term investment horizon. The costs of administering the fund are also reduced as we are not continually issuing and redeeming units.

The company structure of AFIC allows us to pay shareholder returns after tax, usually as fully franked dividends.