6 January 2017
The Manager
ASX Market Announcements
Australian Securities Exchange
Exchange Centre
Level 4
20 Bridge Street
Sydney NSW 2000
Electronic Lodgement
Australian Foundation Investment Company Limited
Monthly Net Tangible Asset Backing Per Share and Top 25 Investments
Dear Sir / Madam
Before Tax * After Tax *
31 December 2016 $5.83 $5.01
30 November 2016 $5.60 $4.85
*The before and after tax numbers relate to the provision for deferred tax on
the unrealised gains in the Company''s investment portfolio. The Company is a
long term investor and does not intend disposing of its total long term
investment portfolio. Under current Accounting Standards, the Company is
required to provide for tax on any gains that may arise on such a theoretical
disposal, after the utilisation of brought forward losses.
These figures do not include the effects of any dilution that would arise
from the conversion of the outstanding Convertible Notes.
These figures are subject to external review by the auditors.
Attached is a list of the Company''s Top 25 Investments as at 31 December
2016.
Yours faithfully
Andrew Porter
Company Secretary
End CA:00295253 For:AFI Type:NTA Time:2017-01-06 11:59:25