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Experienced Management

An experienced Board of Directors and a stable management team underpin Argo’s effective surveillance of its long-term investment portfolio. The Board consists of six highly qualified Directors, one of whom is an executive Director. In 62 years of operation, Argo has only had two Chief Executives.

Argo’s investment team makes the day-to-day decisions on managing the investment portfolio. The team includes Argo’s executive management, plus a number of experienced and well-performed specialist research analysts.

The investment team’s objectives are to monitor the existing investment portfolio and identify new, successful investment opportunities. Each research analyst concentrates on a number of stocks within certain industry groups. Their responsibilities include selecting "best buys" and "best sells" monthly. We rarely sell but the point of the exercise is a discipline to indicate possible concerns.

Before we buy shares in any company we have undertaken considerable research. Besides receiving reports from the major broking houses and investment banks, our analysts travel the country, meeting management on site - in their head offices, looking at factories, warehouses, building projects, retail premises and back offices. They cross-check information to build a credible picture. They talk to competitors, employees, clients, suppliers and stockbrokers.

Talking to all players in an industry provides an excellent informal cross-check of the veracity of what is really occuring. Who is facing a headwind and why, who has won or lost a major contract and who has to raise capital to conclude a deal, and by when. All affect the long-term performance of the business which is our main concern.

The investment team "analyses the analysts" by keeping track of the mountain of research provided to us by all brokers. We have a wide range of good broking contacts. Their information is vital and their ability to provide us with worthwhile opportunities in new floats or share placements is invaluable.

When the investment team meets to discuss a buying opportunity, it has a comprehensive idea of the company's management, business, financial position and prospects for growth. They discuss, challenge and debate with each other to get the best result for shareholders.