Australian Foundation Investment Company (ASX:AFI): What the S&P/ASX 200 Listed Investment Company Disclosed

Sonal Goyal

29 September 2026 08:49 PM AEST

Australian Foundation Investment Company (ASX:AFI): What the S&P/ASX 200 Listed Investment Company Disclosed

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Category: Dividend

Australian Foundation Investment Company Limited (ASX:AFI) lodged an estimated net Tangible Asset (NTA) backing announcement with the ASX on 28 September 2026, covering the position as at 25 September 2026. The estimated pre-tax NTA per share was $7.72, while the ASX closing share price on 25 September 2026 was $6.65.

The release is a short disclosure and contains no earnings, Dividend or portfolio data. It states that the pre-tax NTA is unaudited and indicative only, is based on investments at Market Value and is before the provision for deferred tax on unrealised gains or losses.

Australian Foundation Investment Company, known as AFIC, is a listed investment company based in Melbourne, with its offices at Level 21, 101 Collins Street. The release identifies MUFG Corporate Markets (AU) Limited as the share registrar and was authorised by Company Secretary Matthew Rowe.

Recent Development

The 28 September 2026 announcement is the latest in a series of NTA updates and consists of two data points. The estimated pre-tax NTA per share of $7.72 reflects the market value of AFIC's investments per share at 25 September 2026, before deferred tax on unrealised gains or losses. The share price of $6.65 is the closing price at which shares traded on the ASX on the same day.

The two figures are different measures. NTA is derived from the value of the underlying investments, while the share price is set by trading on the exchange, and the release presents them side by side without commentary. On the figures provided, the closing share price was below the estimated pre-tax NTA per share.

The announcement does not provide comparative NTA figures for earlier dates, portfolio composition, dividends or performance figures, so movements in either measure cannot be derived from this document alone.

Sector Context

Listed investment companies such as AFIC hold portfolios of shares and are themselves listed, so investors can buy exposure through the exchange. Because the company's shares trade on the market, the price can differ from the value of the underlying assets, and companies publish NTA figures regularly so that the market can see the asset backing per share.

NTA can be reported before or after provision for deferred tax on unrealised gains and losses. The release specifically presents the pre-tax figure, which is before that provision, and it is based on investments at market value, meaning it moves with the prices of the securities held.

Risks and Uncertainties

The release itself carries several qualifications. The NTA figure is unaudited and indicative only, it is an estimate, and it is before the provision for deferred tax on unrealised gains or losses. Because it is based on market values, it can change as investment prices change.

The share price and NTA are also point-in-time measures at 25 September 2026, and the gap between them can vary over time. The release contains no forward-looking statements, and no earnings, dividend or portfolio information, so it should be read alongside AFIC's other disclosures on its website at afi.com.au.

What to Watch Ahead

The main items for readers to follow are subsequent NTA announcements, which show how the estimated pre-tax NTA per share moves against the share price, and AFIC's periodic financial reports and dividend announcements, which are published separately from this release.

The company invites readers to visit afi.com.au for further information, and its share registrar handles enquiries on holdings through the contact details in the release.

The Bottom Line

AFIC's 28 September 2026 update showed an estimated pre-tax NTA of $7.72 per share and a closing price of $6.65 on 25 September 2026, with the release noting the NTA is unaudited, indicative and before deferred tax.

FAQs

Q: What was AFIC's (ASX:AFI) estimated NTA per share?

A:The estimated pre-tax NTA was $7.72 per share as at 25 September 2026.

Q: What was the AFI share price?

A:The ASX closing price on 25 September 2026 was $6.65.

Q: What does the NTA figure exclude?

A:It is unaudited and indicative only, based on investments at market value, and is before the provision for deferred tax on unrealised gains or losses.

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