Argo Investments Limited (AU:ARG) has released an update.
Argo Investments Limited reported a decrease in its net tangible asset per share from $9.66 to $9.39 in April, reflecting broader market downturns with the S&P/ASX 200 Index falling by 2.9%. The decline was due to persistent inflation and expectations of sustained higher interest rates, heavily impacting rate-sensitive sectors like real estate investment trusts and consumer discretionary stocks. Despite these challenges, Argo maintains its low-cost, diversified portfolio approach and has a history of delivering fully-franked dividends since 1946.
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