Affluence LIC Fund

Unit Prices

As at 31 Jan 2024

Buy Price$1.2857
NAV Price$1.2844
Sell Price$1.2831

View unit price, distribution and tax history

Investment Objective & Strategy

The Affluence LIC Fund is a limited capacity strategy that provides access to a diversified portfolio of 20 to 35 ASX Listed Investment Companies (LICs). The Fund aims to outperform the ASX 200 Accumulation Index with volatility of returns which is significantly less than the ASX 200 Index measured over rolling 3 year periods. The Fund also aims to pay a minimum distribution yield of 5% per annum, paid quarterly.

The Affluence LIC Fund invests in LICs using the following strategies:

  • Alpha Generators – LICs that can outperform the market.
  • Discount Capture – LICs trading at attractive discounts to NTA.
  • Event Driven – Special situations such as IPO’s and other events.

Through investments in LICs, the Fund provides access to a broad range of underlying investment styles, investment strategies, and geographies.

The Affluence LIC Fund’s Key Features

A high quality, diversified portfolio of Listed Investment Companies

Diverse Investment Portfolio

The Fund is likely to hold 20-35 investments at any given time, but may hold more or less than this.

Three Ways to Add Value

The Fund aims to hold LICs that can outperform the market, buy at discounts to NTA and participate in event-driven opportunities.

Monthly Applications and Withdrawals

Applications and Withdrawals are processed monthly.

Minimum Initial Investment

You can invest as little as $20,000 and grow your investment over time.

Minimum Additional Investment

You can add to your investment from as little as $1,000.

Distribution Reinvestment

Quarterly distributions can be reinvested to compound the returns on your investment.

We Get Paid To Perform

Affluence charge no fixed fee, simply a performance fee equivalent to 12.5% of positive total returns delivered. Other expenses of the fund are as disclosed in the PDS.

Regular Fund Reporting

Reports detailing the Fund’s performance, strategy and portfolio are provided monthly.

Affluence LIC Fund Performance

To 31 Jan 20243 months1 year3 years5 yearsInceptionVolatility
Income Distributions1.5%5.9%8.5%8.9%7.8%
Capital Growth4.6%0.8%0.1%3.0%3.3%
Affluence LIC Fund6.1%6.7%8.6%11.9%11.1%8.6%
ASX 200 Accumulation Index14.0%7.1%9.6%9.7%9.3%14.3%
Outperformance against ASX 200 Index(7.9%)(0.4%)(1.0%)2.2%1.8%

Performance is calculated using NAV unit prices, net of fees and costs (excluding the buy sell spread) and assumes distributions are reinvested. Returns of more than one year are annualised. The Fund aims to pay distributions quarterly. The Fund inception date is 3 May 2016. Past performance is not indicative of future performance

JanFebMarAprMayJunJulAugSepOctNovDecYear
2016N/AN/AN/AN/A1.0%0.1%4.9%1.1%1.4%0.5%1.6%1.5%12.6%
20170.1%0.5%0.1%0.5%0.3%1.3%1.4%(0.6%)0.7%3.2%2.2%1.6%11.8%
2018(0.4%)(0.1%)(1.3%)2.1%1.2%1.1%2.1%1.0%0.6%(4.0%)(0.5%)(1.2%)0.3%
20192.1%1.4%(0.5%)0.5%(0.1%)(0.8%)5.1%(1.9%)3.4%0.8%3.2%1.7%15.8%
2020(2.0%)(5.0%)(8.3%)7.9%6.6%(2.7%)3.2%4.8%1.7%2.7%9.7%1.7%20.2%
20210.4%1.7%1.3%2.3%2.4%5.1%0.0%0.3%2.4%1.5%(0.9%)1.7%19.6%
2022(1.6%)(1.4%)1.4%0.0%(2.3%)(3.8%)4.3%1.1%(2.4%)1.5%3.5%(0.4%)(0.4%)
20231.3%(0.1%)0.0%0.7%(0.9%)(0.5%)2.1%0.0%1.2%(1.9%)1.5%3.5% 6.9%
20241.1%1.1%

Performance is calculated using NAV unit prices, net of fees and costs (excluding the buy sell spread) and assumes distributions are reinvested. Past performance is not indicative of future performance

Fund Performance in Falling Markets

The graph below shows the 10 largest monthly falls in the ASX200 Accumulation Index since the Fund commenced, and the performance of the Fund for that same month. The Fund has outperformed the Index in all 10 of the worst months. Past performance is not indicative of future performance.

Portfolio Discount to NTA

The table below shows the average discount to NTA for the Affluence LIC Fund portfolio since inception.

Risk Disclosure

As with all investments, the Fund is subject to risks. If these risks eventuate, they may result in a reduction in the value of your investment in the Fund and/or a reduction or cessation of distributions. Distributions are not guaranteed, nor is the return of your capital. Past performance is not indicative of future performance.

It is important that you know that the value of your investment will go up and down over time, the Fund’s returns will vary over time, future returns may differ from past returns and returns are not guaranteed. All of this means that there is always the chance that you could lose money on your investment.

As set out in the product disclosure statement dated 30 September 2022 (PDS), key risks include concentration and volatility risk, economic and market risk, legal and regulatory risk, manager and key person risk, and currency risk. AFM aims, where possible, to manage risks. However, some risks are outside our control.

Fund Documents

Fund Portfolio
Take a look at the largest holdings in the Fund, including portfolio weighting and commentary. Affluence Members Only.

View Portfolio

Latest Fund Report
Download the latest report, including market commentary & information on the Affluence LIC Fund performance.

Affluence Presentation
Download the latest presentation to learn about Affluence, how we invest, Fund portfolios and performance.

View Presentation

Investor Forms
Application documents for our Funds and forms for additional investments, change of details and withdrawals.

Investor Forms

How To Invest In The
Affluence LIC Fund

1

Read the PDS


Before making any decision to invest, you should read and understand the Fund’s Product Disclosure Statement (PDS). You should also read the Target Market Determination (TMD) and ensure the Fund is appropriate for your personal circumstances and financial objectives. You may wish to consult with your financial or other advisor in making this assessment.

You can download the PDS and TMD, invest online or download paper application forms by clicking the Invest Now button below.

2

Make an
application


Applications are accepted monthly. The cut-off for applications is the last business day of each month. Completed applications received by this date are processed as at the 1st of the next month.

To invest in the Fund you must complete an application form. If you have not invested with Affluence previously, you will also need to provide identification information and answer some questions which we will use to assess whether you are in the target market for the Fund. We may seek further information from you and reserve the right to reject an application if we consider you are not within the target market.

Investors can complete the relevant application form attached to the PDS or apply securely online through our registry services provider, Registry Direct. Applying online can be significantly easier and faster than paper-based applications and provides the option to verify or upload your identification information, reducing the need to provide certified copies of documents.

See More

3

Provide documents
and make payment


Complete an online application or send the paper application documents (including any required Identification Documents) to us for processing.

Make payment of the application amount. Payments can be made via cheque or electronic transfer.

You will receive an acknowledgment as soon as possible after the Fund registrar receives your application documents and funds. You will receive your investment confirmation once the application has been processed. This normally occurs 7 – 10 days after the end of the month in which your application is accepted.

Affluence LIC Fund News & Updates

Keep up to date with the changes to the Fund’s portfolio, fundamentals and performance.

View previous Fund News & Updates

Frequently Asked Questions

What’s the minimum investment amount?
The minimum initial investment amount is $20,000. You can add additional amounts later from as little as $1,000. Applications are processed monthly. Application funds awaiting processing are held in a trust account.
Does the Fund target a certain level of distributions
The Fund aims to provide you with a minimum distribution yield of 5% per annum, paid quarterly. Generally, distributions will consist of a share of the income and franking credits the Fund receives during the year from its LIC investments, plus any taxable capital gains from sales of investments, less costs (including our performance fees).
When do distributions get paid?
Distributions are generally paid 10 days after the end of each quarter. Distributions are paid to your nominated bank account or can be reinvested if you wish.
Are distributions franked?
Partly. The Fund distributes all franking credits received from LICs to investors at the end of the tax year. Franking credits are usually distributed in proportion to distributions paid during the year. So, if you were only an investor for part of the year, you will receive a lower proportion of franking credits than if you were invested for the full year. See here for the full distribution and franking history of the Fund.
What information will you send me after I invest?
You will receive a monthly report outlining the Fund portfolio and performance, quarterly distribution advices, annual investment statements showing investment transactions and the value of your investment, and an annual tax statement with details of the amounts to be included in your tax return.
What fees and costs will I pay?
Affluence does not charge any fixed fee for managing the Fund. Instead, we charge a performance fee of 12.5% of the Fund’s positive returns (after recovering any previous negative performance). Affluence also recovers certain costs from the Fund. These cost recoveries are generally capped at 0.25% of the net assets of the Fund per annum. Other costs are also payable. These fees and costs are not paid by you directly but are paid out of the assets of the Fund. All Fund performance numbers shown are after allowance for these fees and costs. You may also pay fees to a financial advisor or investment platform operator if you invest through them. These fees are not paid to Affluence or the Fund. Please refer to the PDS for more information about fees and costs.

Have any questions about the Affluence LIC Fund? Contact Us

Let Us Help You Make Better Investment Decisions

Our monthly eNews includes Fund updates, investments ideas and other things we find interesting.
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Let us help you make better investment decisions

Our monthly eNews includes Fund updates, investment ideas and other things we find interesting. It’s the best way for us to keep in touch, and for you to get to know us better.

And we believe it’s important that you understand how we invest before you consider putting your money to work with us.

Subscribe here to get our best ideas delivered straight to your inbox.

This field is for validation purposes and should be left unchanged.