Milton Corporation (ASX:MLT)
Milton (ASX:MLT) has been an investment company since 1938 and it became an LIC when it listed on the Sydney Stock Exchange in 1958. Milton invests its own funds in a diversified portfolio of investments which is managed internally by its directors and executives. The Company has more than 25,800 shareholders. Turnover of investments is low and capital gains arising from disposals are reinvested. Milton also holds liquid assets such as cash and term deposits and it may invest in hybrid securities as well as real property development through joint ventures.