Considering Argo has no debt, the only way I can see it going under would be if a director was dishonest and somehow siphoned money off for himself.
"Legally you only own ARG shares, you don’t own the underlying stocks that make up the LIC."
I am no lawyer, but...
You should remember that legal ownership of an ARG share means legal ownership of a portion of the underlying assets. If the company were to be liquidated, you would be entitled to receive your share of the underlying assets. Of course if the company's debt exceeded its assets, you would receive nothing; but considering Argo's debt is ZERO and its assets SEVERAL BILLION, this situation is not something you should worry about!
etfs, page-15
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