On the 22 March 2018, Aurora Funds Management Limited (“Aurora”) as responsible entity of Aurora Absolute Return Fund (“ABW”) and Aurora Fortitude Absolute Return Fund (“AFARF” or “Master Fund”) announced an update regarding the redemption facility for the 31 March 2018 quarter and the 30 June 2018 quarter;
“The redemption ceiling for the combined redemptions for the 31 March 2018 quarter and the 30 June 2018 quarter will be 10% of the total FUM as at 30 June 2018.”
In order to facilitate the processing of redemption requests in circumstances where Aurora considers it undesirable to realise fund investments, Aurora may use its own funds to acquire units for which redemption requests have been received. Where it does so the units will not be cancelled but purchased by Aurora for a cash consideration equal to the applicable Redemption Price. Aurora’s capacity to proceed in this way is limited by both its financial resources and by the limitations on acquiring units in listed managed investment schemes set out in Chapter 6 of the Corporations Act.
The redemption requests are currently being processed by the share registry, with payment to follow.
Aurora confirms that ABW unitholders and Master Fund unitholders will receive approximately 39% of their outstanding redemption monies based on total redemptions as at 30 June 2018.