Argo Global Listed Infrastructure Limited (ASX: ALI) is a listed investment company (LIC) that listed on the ASX in July 2015, raising $286.1m through the issue of 143.1m fully paid ordinary shares at $2.00 per share. As at 30 June 2025, ALI had 177.8 million shares on issue and a market cap of $405.3 million. Argo Service Company Pty Ltd …
Pengana International Equities Limited (ASX: PIA) Review
Pengana International Equities Limited (ASX: PIA) is a listed investment company (LIC) that provides exposure to an actively managed portfolio of global equities with an ethical screen in which companies with exposure to certain industries and activities are screened out of the investment universe. The Investment Manager of the Company is Pengana Investment Management Limited, a wholly owned subsidiary of …
WAM Research Limited (ASX: WAX) Review
WAM Research Limited (ASX: WAX) is a listed investment company (LIC) with a track record dating back to August 2003. The Company has grown to a market cap of $230 million after raising $150 million through the issue of 150 million fully paid ordinary shares at $1.00 per share at the IPO. The Company provides exposure to an actively managed …
WAM Active Limited (ASX: WAA) Review
WAM Active Limited (ASX: WAA) is a listed investment company (LIC) that provides exposure to an actively managed portfolio of predominately ASX-listed securities. The Company can invest in stocks of any size, however the focus of the Company is typically on medium and small cap industrial companies. The portfolio is managed by MAM Pty Ltd (the “Manager”), which forms part …
Coverage Initiation of Javelin Minerals (ASX: JAV)
We are pleased to initiate coverage of Javelin Minerals (ASX: JAV), which is an advanced Western Australian gold explorer that has real and achievable production ambitions. Recent work at both of Javelin Minerals’ potential development projects has returned strong results, demonstrating their upside potential. The properties – Eureka (110,686 oz Au) and Coogee (126,685 oz Au and 4,122 tonnes of …
IIR LMI Monthly Update
In the edition of the IIR LMI Monthly Update we take a look at the key news in July 2025 as well as the performance of LICs and LITs over the FY25 period.
Metrics Income Opportunities Trust (ASX: MOT) Review
Rating status, 12 October 2026: under review. IIR’s rating on Metrics Income Opportunities Trust (ASX: MOT) remains under review and is not reaffirmed; no current rating is approved. ASX reinstated MOT to quotation on 5 October 2026 after its audited accounts were lodged; audited NTA at 30 June 2026 was A$1.9346 per unit. The underlying wholesale funds remain closed to …
Metrics Master Income Trust (ASX: MXT) Review
Rating status, 12 October 2026: under review. IIR’s rating on Metrics Master Income Trust (ASX: MXT) remains under review and is not reaffirmed; no current rating is approved. ASX reinstated MXT to quotation on 5 October 2026 after its audited accounts were lodged; audited NTA at 30 June 2026 was A$1.9617 per unit. The underlying wholesale funds remain closed to …