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AFIC slams foreign outsourcing

MENAFN - - 10/10/2012 4:26:49 PM

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AFIC slams foreign outsourcing

Oct 10, 2012 (Menafn - The Australian - ABIX via COMTEX) --Australian Foundation Investment Company (AFIC) chairman Bruce Teele says the group is reluctant to sell its 5.4 per cent in the Australian Infrastructure Fund, which is being targeted by the Future Fund. Teele, who was speaking at AFIC's AGM on 10 October 2012, said the decline of manufacturing companies in Australia is not good for investment firms such as AFIC, as it reduces the number of possible investments, as well as resulting in fewer tax-paid dividends.

Publication Date: 11 October 2012

AUSTRALIAN FOUNDATION INVESTMENT COMPANY LIMITED - ASX AFI
AUSTRALIAN INFRASTRUCTURE FUND - ASX AIX
AUSTRALIA.FUTURE FUND MANAGEMENT AGENCY
HASTINGS DIVERSIFIED UTILITIES FUND - ASX HDF
APA GROUP - ASX APA
PETRONAS INTERNATIONAL CORPORATION

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