Why Australia’s biggest and oldest LIC defied the Ozempic sell-off
Australian Foundation Investment Company boss Mark Freeman says buying CSL and Resmed amid last year’s Ozempic rout was part of a tried-and-true strategy.
Mark Freeman, chief executive of Australian Foundation Investment Company, the country’s oldest and biggest listed investment company, admits he’s cautious about the outlook for the ASX after the extraordinary rally of the last three months.
“Certainly it’s at a point where we are not seeing value in the things we want to buy,” he tells Chanticleer after AFIC announced a first-half result portfolio return of 9 per cent of the six months to December, beating the ASX 200 accumulation index’s return of 8.3 per cent.
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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
