Argo Global Listed Infrastructure

What Argo Global Listed Infrastructure does

Argo Global Listed Infrastructure Limited (ASX: ALI) is an Australian listed investment company (LIC) established in 2015 by Argo Investments to give Australian investors dedicated exposure to a diversified portfolio of global listed infrastructure securities. The company holds 50-70 securities across multiple infrastructure subsectors (electric utilities, midstream energy, railways, communications) and geographies, with investee companies required to derive at least 70% of revenues from infrastructure assets. Portfolio construction and stock selection are outsourced to Cohen & Steers (NYSE: CNS), a New York-based specialist infrastructure manager with approximately A$150 billion under management and the longest track record in exchange-listed infrastructure investing. Argo Investments serves as the corporate Manager with an ~8.5% ownership stake and earns a tiered management fee (1.2% on assets up to A$500m, scaling down to 1.0% above A$1bn); no performance fees are charged. The portfolio has ESG integration via Cohen & Steers' four-step proprietary process combining sector-weighted ESG scoring with company engagement.

The company earns revenue primarily through investment returns (capital growth and dividend income from underlying holdings) and operates a no-fee share trading model: investors access ALI via any ASX broker with a A$500 minimum, paying only stockbroking charges. Supplementary shareholder services include a Dividend Reinvestment Plan (DRP), Dividend Substitution Share Plan (DSSP), and Share Purchase Plan (SPP). The customer base comprises approximately 8,400 Australian retail investors, SMSF trustees, and financial adviser clients. Argo Infrastructure pays fully franked Australian dividends and has lifted its dividend every year since IPO, with the HY26 interim dividend at a record 4.5 cents per share (fully franked). Half-year profit for HY26 was A$13.9 million against total assets of A$465 million. A$10,000 invested at IPO has grown to approximately A$22,000+ by May 2026, though shares traded at a ~4.6% discount to NTA at that date.

Name

Argo Global Listed Infrastructure

Legal name

Argo Global Listed Infrastructure Limited

Website

https://argoinfrastructure.com.au

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

1–10 employees

Short description

Argo Global Listed Infrastructure (ASX: ALI) is an Australian listed investment company providing Australian retail investors, SMSFs, and financial advisers with diversified exposure to 50-70 global listed infrastructure securities via a single ASX trade, externally managed by Cohen & Steers.

Ownership category

akta.pro rank

Product category

Listed Investment Company / Infrastructure Fund Management

NAICS

Portfolio Management and Investment Advice (523940), Other Financial Vehicles (52599)

SIC

Investment Advice (6282), Finance Services (6199)

akta.pro primary industry

ESG/Sustainable Investment Advisory (FSAEAAAJ)

akta.pro secondary industries

Values-Based/ESG & Impact-Focused RIAs (FSAAACAK), ESG/Sustainable & Thematic Digital Investing Platforms (FSAGAEAK)

Keywords

• Listed investment company
• Global infrastructure investing
• Portfolio management services
• Franked dividend investing
• Securities fund management

Headquarters

HQ city

Adelaide

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Investment Returns: Generates returns through a diversified portfolio of 50-70 global listed infrastructure securities across various subsectors and geographies. Returns consist of capital growth and dividend income from infrastructure company holdings.
2. Management Fees: The company earns management fees of 1.2% of assets under management for the first $500m, decreasing to 1.1% for assets between $500m-$1bn, and 1.0% for assets above $1bn. No performance fees are charged.
3. Dividend Income: Returns are distributed to shareholders as fully franked dividends. The company has paid increasing dividends every year since IPO in 2015, with the last 16 dividends fully franked.

Pricing tiers

Go-to-market motion3 records

Distribution channels1 record

Marketing channels8 records

Core offering

Argo Global Listed Infrastructure is an ASX-listed investment company (LIC) that provides retail investors with diversified exposure to global listed infrastructure securities through a single trade under ticker ALI. The portfolio holds 50-70 securities across utilities, midstream energy, transportation, and communications infrastructure companies in both developed and emerging economies, actively managed by specialist portfolio manager Cohen & Steers. The company generates returns through capital growth and fully franked dividends, with no upfront, ongoing, or exit fees charged to shareholders.

Product overview

Argo Global Listed Infrastructure (ASX: ALI) is a single listed investment company (LIC) that provides exposure to a diversified portfolio of global listed infrastructure securities through one simple ASX trade. The core product is the Global Listed Infrastructure Portfolio, managed by specialist manager Cohen & Steers, which holds 50-70 securities across subsectors including electric utilities, midstream energy, railways, and gas distribution. Supplementary services include the Dividend Reinvestment Plan (DRP), Dividend Substitution Share Plan (DSSP), and Share Purchase Plan (SPP), which allow shareholders to acquire additional shares without brokerage costs. The company remains the only ASX-listed investment company offering dedicated exposure to global listed infrastructure.

Differentiator

Problem solved

Functional benefit

Products and services

• Global Listed Infrastructure Portfolio An actively managed portfolio of 50-70 global listed infrastructure securities diversified across various subsectors and geographies, including both emerging and developed economies. The portfolio includes companies that derive at least 70% of revenues from infrastructure assets, with subsector exposure spanning electric utilities, midstream energy, railways, and gas distribution. Managed by specialist portfolio manager Cohen & Steers.
• Dividend Reinvestment Plan (DRP) Allows shareholders to automatically reinvest their dividends into additional Argo Infrastructure shares instead of receiving cash. Shares issued under the DRP do not incur brokerage or other transaction costs and are priced at the volume weighted average ex-dividend market price.
• Dividend Substitution Share Plan (DSSP) An optional method by which eligible shareholders may receive additional Argo Infrastructure shares as an alternative to receiving cash dividends, without incurring brokerage costs.
• Share Purchase Plan (SPP) Allows eligible shareholders to subscribe for up to $30,000 worth of new fully paid ordinary shares without incurring brokerage or other charges. Offered as a capital raising mechanism from existing shareholders.

Quantifiable outcome

• Shareholder returns: $10,000 invested at IPO in 2015 has grown to approximately $22,000+ by May 2026
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Cohen & SteerscoreStrategic or Co-development Partner · 1 January 2015Cohen & Steers is the specialist Portfolio Manager for Argo Infrastructure. Based in New York and listed on NYSE (ticker: CNS), Cohen & Steers manages approximately A$150 billion for institutional clients and sovereign wealth funds. They pioneered investing in exchange-listed infrastructure companies nearly 20 years ago and have the longest performance track record in the industry. Their experienced team of analysts across the globe provides local insights to inform investment decisions.
• Argo InvestmentscoreStrategic or Co-development Partner · 1 January 2015Argo Investments established Argo Infrastructure in 2015 as the manager. Argo invested $25 million in the IPO and maintains approximately 8.5% ownership stake, aligning interests with shareholders. Argo Investments brings extensive experience as one of Australia's oldest and largest listed investment companies.
• BoardRoom Pty LimitedminorOthersBoardRoom manages Argo Infrastructure's share registry from their Sydney office. They provide shareholder services including managing shareholdings, dividend payments, and communication preferences. Contact: 1300 389 922 (Australia) or +61 2 9290 9600.

Scale indicators15 records

Recent moves7 records

Expansion highlights4 records

Regional players

• HICL Infrastructure PLC: London-listed infrastructure investment trust (LSE: HICL) managed by InfraRed Capital Partners. Comparable infrastructure-focused listed investment vehicle, though UK-listed and primarily serves UK/European investors rather than the Australian market.

Others

• IFM Investors: Australian-owned institutional infrastructure manager with significant global infrastructure mandates for superannuation funds. Adjacent infrastructure-investment competitor in the Australian institutional and SMSF channels, though primarily unlisted/direct rather than listed securities.
• Cohen & Steers, Inc. NYSE-listed specialist infrastructure and real-asset manager (NYSE: CNS) that serves as Argo's external portfolio manager. Not a competing investment vehicle, but the closest ecosystem participant and the strategic partner whose brand and capability are core to Argo's proposition.

Direct peers

• Magellan Infrastructure Fund: Australian-managed unlisted/open-ended fund investing in global listed infrastructure. Directly comparable target asset class and Australian distribution, though structured as an open-end fund rather than LIC.
• Argo Investments: ASX-listed parent and one of Australia's oldest LICs (ASX: ARG), managed by the same team as Argo Infrastructure with overlapping board and management. Most directly comparable peer given identical governance and shared distribution infrastructure.
• Atlas Arteria Limited: ASX-listed toll-road-focused infrastructure investment company (ASX: ALX). Directly comparable as another ASX LIC targeting infrastructure assets, with similar closed-end structure and Australian retail/SMSF investor base.
• WAM Leaders Limited: ASX-listed LIC (ASX: WLE) managed by Wilson Asset Management. Directly comparable as another Australian LIC with retail/SMSF investor focus, similar fee structure, and Australian adviser distribution model.

Broad incumbents

• Transurban Group: ASX-listed toll-road operator (ASX: TCL) and one of Australia's largest listed infrastructure entities. Broad incumbent in the ASX infrastructure space, providing direct operating exposure that contrasts with Argo's diversified securities portfolio approach.
• Sydney Airport Holdings: ASX-listed airport operator (ASX: SYD) and a major constituent of Australian listed infrastructure benchmarks. Broad incumbent giving investors direct infrastructure operating exposure, complementary to Argo's diversified securities portfolio.

Emerging players

• iShares Global Infrastructure ETF: Passive global infrastructure ETF (NYSE: IGF) tracking an infrastructure index. Provides similar underlying exposure to global listed infrastructure via an open-end ETF structure, competing for the same Australian-adviser and SMSF infrastructure allocation.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCqo3XVYGi5PatWCRXMrJPoA
• LinkedInlinkedin.com/company/argo-global-listed-infrastructure-limited

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Argo Global Listed Infrastructure