# Argo Investments

Argo Investments is an Internally managed LIC based in Adelaide, Australia.

## Overview

- **Organization type:** Internally managed LIC
- **Headquarters:** Adelaide, Australia
- **Region:** Oceania
- **Address:** Adelaide, SA, Australia
- **Founded:** 1946
- **Assets under management:** Undisclosed
- **Website:** argoinvestments.com.au
- **LinkedIn:** https://www.linkedin.com/company/argo-investments-limited

## Regulatory record

- **Reports private funds:** No

## About

Argo Investments is a listed investment company founded in 1946 in Adelaide, South Australia. It manages a diversified portfolio of Australian equities. The company serves both individual and institutional investors.

## Sectors

- Financials
- Materials
- Real Estate
- Energy Transition & Renewables
- Healthcare Services
- Infrastructure

## Offices

- Melbourne, VIC, Australia
- Sydney, NSW, Australia

## People

- Jason Beddow — Managing Director & CEO
- Andy Forster — Senior Investment Officer

## Questions

### How is Argo Investments structured differently from a typical fund manager?

Argo is an internally managed listed investment company (LIC), not an externally managed fund. Shareholders own the company directly, vote on board composition and auditor appointments, and pay no performance fees. The investment team are Argo employees, not a separate management entity. This structure has kept costs low and governance aligned with shareholders since listing in 1950.

### What is Argo's dividend track record?

Argo has paid dividends every year since 1948, one of the longest unbroken income streaks on the ASX. The firm prioritizes fully franked dividends sourced from Australian company profits. During the GFC, Argo maintained its payout while many LICs cut or suspended distributions.

### Does Argo invest outside Australia?

Argo's core portfolio is effectively all-Australian equities, with small indirect international exposure through ASX-listed multinationals. The firm also operates Argo Global Listed Infrastructure, a separate vehicle that invests in OECD infrastructure equities. Argo does not run unlisted offshore mandates.

### Who makes the investment decisions at Argo?

The investment committee is chaired by Managing Director Jason Beddow, who has been with the firm since 2001. Senior Investment Officer Andy Forster and a lean internal team execute the strategy. Argo has never outsourced portfolio management; all decisions run through the Adelaide-headquartered investment team.

### What sectors does Argo avoid?

Argo historically avoided speculative resources, pre-profit technology companies, and unlisted private equity. The firm does not invest in venture capital or early-stage companies. Its mandate is restricted to listed equities, predominantly on the ASX.

### Has Argo's portfolio allocation changed recently?

Yes. The 2024 annual report showed a rotation away from heavyweight miners BHP and Rio Tinto into energy-transition infrastructure, including increased positions in APA Group and Transurban. This marks a deliberate tilt toward assets with regulated or contracted cash flows.

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Updated: 2026-06-03T20:00:00.000Z

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