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Watching Argo Global Listed Infrastructure Ltd (ASX: ALI) on the Income hitlist

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    Watching Argo Global Listed Infrastructure Ltd (ASX: ALI) on the Income hitlist

    Hello James and crew, Thanks to Vanessa who helped me through renewing my subscription to the newsletter again - a no brainer really, enjoy every bit of it, thanks to everyone. Back in May ALI (Argo Global Listed Infrastructure ) was added to the Income Hitlist and a very informative artical was written about it in the newsletter. I have been watching it ever since and whilst the SPP has come and gone I note today that a director has brought a good parcel of shares at $2.54 (SPP $2.40 and NTA $2.68). Would be interested please on MM's thoughts of a reasonable entry level range. Thanks, Geoff

    Answer

    Hi Geoff,

    It’s great to hear Vanessa continues to deliver for MM, having been with us for more than 10-years now!

    The ALI note you are referring to can be read here.

    We remain positive on the stock, even after its advance to $2.60, helped by its almost 4% fully franked yield – arguably more attractive to local investors post the budget. As bond yields retreat begrudgingly with the Strait of Hormuz reopening the LIC becomes more attractive and its likely one of the reasons the markets pushed it up closer to its NTA.

    We continue to like this Infrastructure LIC but after its recent strength, we are more likely to buy a part-position here, leaving funds to average into any weakness back towards $2.40. Our issue is around cash constraints in the Income Portfolio, with available funds of ~3%. We need to sell something before stepping up to the plate on ALI.

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    Argo Global Listed Infrastructure Ltd (ALI)
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