We’ve reached the end of another financial year. Here’s the Affluence LIC Fund 2019 End of Financial Year Information.
Returns this financial year for the Affluence LIC Fund have been positive but subdued. Despite the lower returns, which are mostly related to what we feel is a temporary increase in the average NTA discount for LICs, we have still booked some good taxable gains on a range of portfolio positions during the year. As all funds must distribute any taxable gains in the year they were earned, the Affluence LIC Fund will be paying a higher distribution than usual for June. The distribution rate for June will be 2.725 cents per unit or nearly two times the normal quarterly amount. This distribution will be paid as normal on 10 July.
The end of the financial year is a busy time for us. In addition to determining and paying the final year-end distribution for the Fund, we also complete tax calculations and finalise tax statements for investors. We will also be finalising investment statements, preparing the Fund accounts and arranging to have them audited.
Because of the additional work required at this time of year, some processes tend to take a little longer in July than in other months. Please bear with us.
Important dates
Below are our estimated dates for Affluence LIC Fund 2019 end of financial year processes. We will update the information below as each item is completed.
| Event | Date |
| Payment of June 2019 distribution | 10 July 2019 (paid) |
| Release of June 2019 unit price | 10 July 2019 (complete) |
| Distribution reinvestment advices sent | 10 July 2019 (complete) |
| Release of June 2019 Fund Report | 12 July 2019 (complete) |
| Annual Investment statements sent | 19 July 2019 (complete) |
| Annual Tax statements sent | 31 July 2019 (complete) |
Thank you for your continued support. It means a lot to us.
If you have any questions regarding your investment or our end of year process, please do not hesitate to contact us or your financial advisor.
For more information about the Affluence LIC Fund, you can visit the Affluence LIC Fund page.
If you’d like to learn more about how to report income and claim deductions for managed trust investments, the ATO has published information on their website here.
