All our funds recorded positive returns in July. You can access July Fund reports from the links below. Australian and global equity markets rallied to start the new financial year. Economic data continues to present a case for both bulls and bears, however investors were in an optimistic mood in July and continued to push prices up. Our cautious outlook continues into the new financial year.
The distribution rate for the Affluence Investment Fund was increased from July (paid 10 August). The new rate represents a distribution yield of approximately 5.5% on the current unit price.
Year-end tax and investor statements are being prepared. Affluence LIC Fund statements have already been sent out, with other funds expected to be finalised in the coming fortnight. You can keep up to date with our progress here.
In other news this month, we wrote here about why we’re getting excited about LICs again.
We also talked to the AFR this month about the opportunities in LICs here and here. If you can’t access the links and are interested in reading the articles please let us know and we can send you a copy.
Should you wish to invest with us this month, applications for the Affluence Investment Fund and Affluence Small Company Fund close on Friday 25 August. Applications for the Affluence LIC Fund close Thursday 31 August. Go to our website and click “Invest Now” to apply online or access application and other forms for any of our funds.
If you have any questions or feedback, reply to this email or give us a call.
Daryl, Greg and the Affluence Team.