Aib newsletter 20121130
The Trust unwound October trades after earnings announcements in November and invested the proceeds in Cash.
The Trust returned -0.30% for the month compared to the UBS Australia Bank Bill Index which returned 0.3%.
The Trust returned 5.2% for the last year which is materially above the UBS Australia Bank Bill Index return of 4.1%.
UBS Australia Bank Bill Index (Benchmark)
The above composite/hybrid performance summary reflects a combination of the performance of the investment strategy as it applied (net of fees) within the former Aurora Sandringham Global Income Trust (ARSN 131 291 499 - now terminated) since its inception in July 2008 to 30 November 2010, and then the performance of this Trust (which implemented the same strategy) since 30 November 2010 to date. This is not the actual performance of Aurora Global Income Trust (AIB). The actual return of AIB since inception is 3.2% p.a. The table above and the charts below refer to the performance of the composite/hybrid strategy and not of the actual performance of AIB.
To provide investors with steady income returns after fees and
expenses in excess of the UBS Australia Bank Bill Index over
rolling three year periods while protecting their capital. Please
note that while we aim to achieve this objective, the returns are
To take advantage of global companies that Aurora expects will increase in value relative to the market around the announcement of their quarterly, half-yearly and yearly earnings results while hedging their market and currency
The Trust reduced its number of open positions in November
and returned -0.30% to underperform against the UBS Bank Bill Index.
For companies announcing results in November, Industrials and
Consumer Discretionary were two of the strongest Sectors. Alternatively, Energy and Utilities contributed negatively to
performance due to dampened global growth prospects and
widespread reductions in profit forecasts respectively. A large
portion of the strategy's underperformance can be attributed to these two factors.
At least 2.5% of Net Asset Value3 per Unit,
Rockwell Automation (increase in EPS forecasts) and Advance Auto
Exelon and Ameren were among the more noticeable laggards in November.
Aurora Funds Limited (‘Aurora’, ASX Code: AFV) was listed on the ASX in July 2010. Aurora comprises the combined businesses of Aurora Funds Management Limited, Fortitude Capital Pty Ltd and Sandringham Capital Pty Ltd. The combined group has in excess of $500 million in funds under management and administration, and provides asset management and responsible entity/trustee services for over 2,500 Australian and New Zealand investors. Aurora is also the issuer of the:
Aurora Sandringham Dividend Income Trust
Level 2, 350 George Street, Sydney NSW 2000 PO Box R1695, Royal Exchange NSW 1225
Telephone: 1300 553 431, Visit: www.aurorafunds.com.au, or Email:
1. The estimated returns are calculated by compounding each monthly return with distributions reinvested. All returns are net of fees.
2. Incorporates all unit classes within AIB, and also assets that are external to AIB that are managed by Aurora and utilise the investment strategy or direct variants thereof.
3. The Trust intends to always distribute at least 2.5% of NAV per Unit per quarter regardless of Trust performance. This means that if the Trust has insufficient net income in a given quarter, investors may receive a partial (or full) return of capital.
4. Each historical distribution has been divided by seven to reflect the Unit split carried out in November 2009.
Disclaimer: This information has been prepared by Aurora Funds Management Ltd (ABN 69 092 626 885 AFSL 222110) in its capacity as Responsible Entity for the Aurora Global Income Trust (ARSN 127 692 406). This information is prepared for general information only. It has been prepared without taking into account the objectives, financial situation or needs of any investor, which should be considered before investing. You should not base your decision to invest in the Trust solely on this information. Investors should consider a copy of the Product Disclosure Statement which is available by calling 1300 553 431. You should consider the suitability of the Trust in view of your financial position and investment objectives and needs, and you may want to seek advice before making an investment de
only an indication of what the investment strategy aims to achieve over the medium to long term. While we aim to achieve the objective, the objective and returns are not guaranteed.
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