Fund Updates

  • Dated 19/02/19 – NTA Estimate  

We advise that the estimated unaudited Net Tangible Asset Value per Unit of the Trust as at 18 February 2019 was: $0.4590 including imputation credits.

  • Dated 18/02/19 – NTA Estimate  

We advise that the estimated unaudited Net Tangible Asset Value per Unit of the Trust as at 15 February 2019 was: $0.4595 including imputation credits.

  • Dated 15/02/19 – NTA Estimate  

We advise that the estimated unaudited Net Tangible Asset Value per Unit of the Trust as at 14 February 2019 was: $0.4557 including imputation credits.

  • Dated 14/02/19 – NTA Estimate  

We advise that the estimated unaudited Net Tangible Asset Value per Unit of the Trust as at 13 February 2019 was: $0.4424 including imputation credits.

  • Dated 13/02/19 – NTA Estimate  

We advise that the estimated unaudited Net Tangible Asset Value per Unit of the Trust as at 12 February 2019 was: $0.4438 including imputation credits.

  • Dated 12/02/19 – NTA Estimate  

We advise that the estimated unaudited Net Tangible Asset Value per Unit of the Trust as at 11 February 2019 was: $0.4437 including imputation credits.

  • Dated 11/02/19 – NTA Estimate  

We advise that the estimated unaudited Net Tangible Asset Value per Unit of the Trust as at 8 February 2019 was: $0.4381 including imputation credits.

  • Dated 08/02/19 – NTA Estimate  

We advise that the estimated unaudited Net Tangible Asset Value per Unit of the Trust as at 7 February 2019 was: $0.4475 including imputation credits.

  • Dated 07/02/19 – NTA Estimate  

We advise that the estimated unaudited Net Tangible Asset Value per Unit of the Trust as at 6 February 2019 was: $0.4339 including imputation credits.

  • Dated 06/02/19 – NTA Estimate  

We advise that the estimated unaudited Net Tangible Asset Value per Unit of the Trust as at 5 February 2019 was: $0.4461 including imputation credits.

  • Dated 05/02/19 – NTA Estimate  

We advise that the estimated unaudited Net Tangible Asset Value per Unit of the Trust as at 4 February 2019 was: $0.4662 including imputation credits.

  • Dated 04/02/19 – NTA Estimate  

We advise that the estimated unaudited Net Tangible Asset Value per Unit of the Trust as at 1 February 2019 was: $0.4551 including imputation credits.

  • Dated 01/02/19 – NTA Estimate  

We advise that the estimated unaudited Net Tangible Asset Value per Unit of the Trust (ex-dividend 0.0025) as at 31 January 2019 was: $0.4544 including imputation credits. Dividend is payable 18th February 2019.

  • Dated 31/01/19 – Portfolio of the Trust 31 December 2018

  • Dated 31/01/19 – NTA Estimate  

We advise that the estimated unaudited Net Tangible Asset Value per Unit of the Trust (ex-dividend 0.0025) as at 30 January 2019 was: $0.4635 including imputation credits. Dividend is payable 18th February 2019.

  • Dated 30/01/19 – NTA Estimate  

We advise that the estimated unaudited Net Tangible Asset Value per Unit of the Trust as at 29 January 2019 was: $0.4687 including imputation credits.

  • Dated 29/01/19 – NTA Estimate  

We advise that the estimated unaudited Net Tangible Asset Value per Unit of the Trust as at 25 January 2019 was: $0.4690 including imputation credits.

  • Dated 25/01/19 – NTA Estimate  

We advise that the estimated unaudited Net Tangible Asset Value per Unit of the Trust as at 24 January 2019 was: $0.4913 including imputation credits.

  • Dated 24/01/19 – NTA Estimate  

We advise that the estimated unaudited Net Tangible Asset Value per Unit of the Trust as at 23 January 2019 was: $0.4923 including imputation credits.

  • Dated 23/01/19 – NTA Estimate  

We advise that the estimated unaudited Net Tangible Asset Value per Unit of the Trust as at 22 January 2019 was: $0.4932 including imputation credits.

  • Dated 22/01/19 – NTA Estimate  

We advise that the estimated unaudited Net Tangible Asset Value per Unit of the Trust as at 21 January 2019 was: $0.4934 including imputation credits.

  • Dated 21/01/19 – NTA Estimate  

We advise that the estimated unaudited Net Tangible Asset Value per Unit of the Trust as at 18 January 2019 was: $0.4940 including imputation credits.

  • Dated 18/01/19 – NTA Estimate  

We advise that the estimated unaudited Net Tangible Asset Value per Unit of the Trust as at 17 January 2019 was: $0.4936 including imputation credits.

  • Dated 31/12/18 – Portfolio of the Trust 30 November 2018

  • Dated 21/12/18 – AQUA Product Issuer Status 

Aurora Funds Management Limited (Aurora), in its capacity as responsible entity for the Aurora Dividend Income Trust (AOD or Fund), acknowledges but disagrees with the decision made by the ASX to revoke Aurora as an AQUA Product Issuer, as outlined in their ASX announcement on 20 December 2018.

Fund Operations

The Fund will continue to operate as unlisted managed investment scheme and continue to execute its investment strategy as outlined in the Fund’s Product Disclosure Statement (PDS). AOD unitholders can apply for, and redeem, units off-market in accordance with the terms set forth in the Fund’s PDS. For further information on the off-market application and redemption facility, please visit Aurora’s website for a copy of the Fund’s PDS.

Cost Savings

The removal of the Fund from the AQUA platform will result in AOD unitholders benefitting from no ASX listing fees, saving unitholders approximating 1% of Net Asset Value per annum.

  • Dated 29/06/18 – Investment Strategy – Position Limit Clarification

Aurora Funds Management Limited (ACN 092 626 885) (Aurora) in its capacity as responsible entity for Aurora Dividend Income Trust (AOD), provides the following update in relation to AOD’s position limits:

Position Limit Clarification

Pursuant to AOD’s current Product Disclosure Statement dated 2 August 2017 (PDS), and due to the nature of such investment vehicles, Aurora adopts a ‘look through’ disclosure for all fees and expenses attributable to AOD from third party investee Listed Investment Companies (LIC) or Listed Investment Trusts (LIT) (i.e. the additional fees of investing in such vehicles are not passed through to unit holders). Aurora wishes to clarify that it also adopts a ‘look through’ approach when considering its concentration in specific security holdings pursuant to the PDS (i.e. the holding in any of AOD’s third party LIC or LIT investments is considered to be a holding in its separate underlying investments and not as a single holding).

The current PDS for AOD states the following:

Aurora aims to invest the Fund, generally, in a portfolio of 10-25 companies and other entities, however, concentrated positions of up to 60% of the Fund’s NAV may be held in a single position during periods that Aurora is actively engaging with an investee entity. Where the Fund holds concentrated positions, this may increase volatility in NAV.

Currently, AOD has a holding in in the Listed Investment Company (LIC) 8IP Emerging Companies Ltd (8EC) that exceeds the 60% of the total value of the Fund’s Net Asset Value (NAV). AOD’s largest single look through ownership in less than 5.0% of NAV1 based on 8EC’s most recent public information.

1 Based on 74% of AOD’s NAV being invested in 8EC, and 8EC single largest investment being 6.7%.

  • Dated 26/05/17 – Suspension from Trading Update

Further to the announcement dated 27 April 2017 in relation to AOD’s suspension from trading while its Product Disclosure Statement (“PDS”) is being refreshed, Aurora Funds Management Limited (“Aurora”) advises that the new PDS is expected to be available around 30 June 2017.

This voluntary suspension does not affect any other investment funds managed by Aurora.

We note that during the period of the suspension:

▪ Off-market redemptions for AOD unit holders will continue to be processed in the ordinary course;
▪ Daily updates to AOD’s Net Tangible Assets and investor communication will continue in the ordinary course;
▪ Franked dividend payments from AOD will continue to be paid in the ordinary course;
▪ AOD will continue to accept applications from wholesale investors; and
▪ All terms in AOD’s previously released PDS will continue to apply save as varied in accordance with the terms of the PDS and the voluntary suspension.

  • Dated 26/04/17 – Appointment of Chief Operating Officer

Aurora Funds Management Limited is pleased to announce it has expanded its management team with the appointment of Mr Ben Norman to the role of Chief Operating Officer, effective 26 April 2017.

Ben is a qualified Chartered Accountant, with over 16 years of professional and industry experience. Prior to joining Aurora, Ben was a Director in Ernst & Young’s Transaction Advisory Services division, where he spent over 9 years working on numerous due diligence, performance improvement, restructuring, turnaround, financial modelling and transaction integration engagements with clients in all industry sectors. While working with Ernst & Young, Ben also performed extended secondments with global financier GE Capital in a senior risk and compliance role and with ASX listed Origin Energy Limited as a finance manager in Origin’s upstream business.

Prior to joining Ernst & Young, Ben held a senior finance position with gas transmission business Epic Energy (which was owned by the ASX listed Hastings Diversified Utilities Fund, backed by Westpac Banking Corporation) where he was responsible for overall financial control and compliance.

Managing Director, John Patton, commented, “we are delighted to have secured the services of a very senior and experienced industry professional to Aurora’s management team. Ben Norman’s extensive professional and industry experience will be a valuable addition to Aurora’s capabilities”.

Operational Update

In light of the changes that have taken place within the business, Aurora has decided to update and refresh its Product Disclosure Statement (PDS). Pending this review being finalized, Aurora has withdrawn its PDS for new retail applications, however all existing terms will continue to apply save as varied in accordance with the terms of the PDS. Upon the lodgment of an updated PDS, the fund will then accept applications from new retail investors.

  • Dated 22/12/2016 – Change of Registered Office

Aurora Funds Management Limited’s Registered Office and Principal Place of Business will change with effect from today, 22 December 2016, with new details as follows:

Suite 613
Level 6
370 St Kilda Road
Melbourne, Victoria 3004

Tel: 1300 553 431
Email: enquiries@aurorafunds.com.au

  • Dated 27/10/2016 – Enhancement to Investment Strategy

Aurora Funds Management Limited as responsible entity for Aurora Dividend Income Trust (AOD), is pleased to notify investors of its intention to enhance the investment strategy of AOD by broadening the investment mandate to allow investments in ASX listed companies outside the S&P/ASX200 index, effective 28 November 2016.

The Trust’s present investment strategy, of investing in a portfolio of ASX listed companies that the Investment Manager expects will pay fully franked dividends while employing a risk management overlay to reduce the net exposure to equity market risk, will not change.

An updated Product Disclosure Statement will be issued shortly.

  • Dated 27/10/2016 – Investments

Aurora Funds Management Limited (AFML) in conjunction with the Aurora Fortitude Absolute Return Fund (AFARF) has become an investor in the Aurora Dividend Income Trust (ASX: AOD).

The rationale for these investments is as follows:

    • AFML has invested a portion of its funds in AOD in support of the investment activities undertaken by AOD further aligning the manager with the performance of the fund;
    • AFARF has a relatively high level of cash on hand at present, enabling redemption requests to be processed quickly and efficiently.  As such, the investment by AFARF in the AOD enables a portion of these funds to be actively managed on an ‘at call’ basis;
    • AFML will rebate all management fees charged in AOD to AFARF to ensure no increased management expense to investors; and
    • With an expanded investment pool within AOD, it follows that this should lead to a lower Management Expense Ratio for this fund.
  • Dated 08/07/2016 – Operating Expenses

Effective 8 August 2016, Aurora Funds Management Limited may begin charging all of its normal operating expenses to the Trust, which may be higher than the cap used in the past, in accordance with the Constitution.

  • Dated 18/9/2015 – Annual Reporting and Fund Disclosure as at 30th June 2015

Asset Allocation: 47% invested in equities after hedging & 53% invested in cash after hedging.

Liquidity Profile: 100% within 2 business days.

Maturity Profile of fund’s liabilities:

Leverage: N/A

Derivative Counterparties: UBS AG.

Investment Returns: -5.26% for the 2014/15 financial year.

ICR to 30 June 2015: 1.28%

Key Service Providers: No change.

  • Dated 20/8/2013 – Change of Name

The Aurora Sandringham Dividend Income Trust first listed in November 2005 is now listed under the ASX AQUA Rules. The new name of the listed Unit is the Aurora Dividend Income Trust – Quoted Unit which will continue to trade under ASX Code: AOD..

One of the benefits to investors is that the Net Asset Value of the Trust is available on the home page of our website under the “Live Net Asset Values” table. This “iNAV” is updated every minute during trading hours.

  • Dated 3/9/2012 – Reduction in Fees

Effective 1 November 2012 the Aurora Dividend Income Trust (ARSN 151 947 732, APIR Code: AFM0010AU) will cease to charge a performance fee. The Aurora Sandringham Dividend Income Trust invests into the Aurora Dividend Income Trust and does not charge any additional fees.

  • Dated 2/7/2012 – GST Update

On 29 May 2012, amendments to the GST financial services regulations were released, including wide ranging new regulations relating to the reduced input tax credit treatment of supplies acquired by managed investment schemes and superannuation funds. The new rules apply from 1 July 2012.

The amendment regulations introduce a new item 32 of GST regulation 70-5.02(2) under which supplies acquired by a ‘recognised trust scheme’ on or after 1 July 2012 will be eligible for a 55% reduced input tax credit (RITC). Certain specified services will remain eligible for the 75% RITC.

  • Dated 15/03/2012 – Contribution Fee Removed

It is intended that from 16 April 2012 the Aurora Dividend Income Trust will move to accruing performance fees on a daily basis instead of the current process of accruing monthly.

  • Dated 21/12/2011 

i.       This notice is to advise current and future investors that as at 1 February 2012 the Trust (Aurora Sandringham Dividend Income Trust) will reintroduce a normal expense recovery capped at 0.3075% (including GST) per annum – via ADIT. This expense recovery has been temporarily suspended since 1 October 2011.

  • Dated 22/08/2011 

i.      The Aurora Sandringham Dividend Income Trust’s management fee will be reduced to 0.95% per annum (plus GST) on Net Asset Value, and the capped expense recovery will be reduced to zero effective 1 October 2011.

ii.      The investment objective will change to maintain a net exposure to equities in the S&P/ASX 200 Index in the range of 40% – 60% of the net asset value of the Trust on continuous basis with a target of 50% (from the previously announced range of 40-75%), effective 1 October 2011

iii.      The Investment Manager will no longer use derivatives or borrowings to gear the portfolio, and may not short securities with a total value of more than 60% of the Net Asset Value of the Trust, effective 1 October 2011

 

Join Our Mailing List

Receive the latest investment funds news from Aurora delivered right to your inbox

SIGN UP HERE