AFIC's NTA backing shows growth after August dividends

As of August 31, 2025, AFIC reported an NTA backing per share of A$8.34 before tax and A$6.95 after tax. These figures are post the provision of a final dividend of 14.5 cents per share and a special dividend of 5 cents per share. This compares to A$8.51 before tax and A$7.10 after tax in July 2025, which were prior to the dividend provision. The company manages a substantial portfolio valued at A$10.6 billion, with a low management cost of 0.16%.

AFIC’s investment strategy targets attractive returns through growing fully franked dividends and capital enhancement. The portfolio delivered a one-year return of 7.4% and a ten-year return of 10.2% in net asset per share growth plus dividends, including franking, as of August 31, 2025. This performance is set against an S&P/ASX 200 Accumulation Index return of 16.0% for one year and 11.4% for ten years, including franking.

The top 25 investments, valued at A$8,179.1 million as of August 29, 2025, represent 78.4% of the total portfolio value (excluding cash). Key holdings include BHP at 8.6% and Commonwealth Bank of Australia at 8.4%. The investment by sector shows Banks dominating at 20.4%, followed by Materials at 13.4% and Healthcare at 11.6%.