Overview
The Elstree Enhanced Income Fund invests in a diversified portfolio of listed floating rate credit securities called hybrids. The Fund is designed primarily for investors who are seeking to earn a rate of return above the bank bill rate of return but are prepared to accept a small degree of capital risk to achieve that objective.
The Fund’s total return outcome is determined by the level of cash and franked income received from the Fund’s investments and changes in the capital value of the Fund’s investments.
The volatility of Fund’s return is extremely low due to the greater proportion of the total return outcome being attributed to stable cash and franked income with changes in the capital value of securities having only a relatively minor impact.
As a consequence an investment in the Fund is ideally suited to investors seeking capital stable franked income returns.
The suggested timeframe for an investment in the Fund is at least 3 years.
The Fund is for wholesale sophisticated investors only. The minimum investment amount is $500,000.
Investors wishing to invest amounts of less than $500,000 should consider the Cboe listed Elstree Hybrid Fund.
Performance Objective
The Fund aims to outperform the UBS Bank Bill Index by a margin of between 2.5 – 3% over a rolling 3 year period.
As at 31 October 2024 the Fund’s rolling 5year investment return was 7.14% per annum (includes the benefit of franking and is net of fees of 0.77% per annum). This compares with the UBS Bank Bill Index rate of return over the same period of 2.94% per annum.
To find out more about the Elstree Enhanced Income Fund click on the links below.
Fact Sheet
How to Invest
Simply download the Information Memorandum, complete the application form and send it, along with a cheque payable to Elstree Enhanced Income Fund to
The Compliance Manager
C/- Elstree Investment Management Limited
1801, 8 Kavanagh Street
Southbank Victoria 3006
Download our latest Information Memorandum dated 2 April 2024
Latest Unit Price Data (cob) 29 November 2024
NAV of a unit – Close of business 29 November 2024 $0.8673. Previous close of business 26 November 2024 $0.8647.
Download the Elstree Enhanced Income Fund’s NAV history updated up to and including 30 September 2024.
Monthly Performance Review October 2024
Click on the link below to review a performance appraisal of the listed debt equity hybrid sector for the month of October 2024. The key features of the month were:
The Elstree Enhanced Income Fund’s NAV of a unit at the close of business on 31 October 2024 was $0.8672. This compares with the ex-distribution NAV of a unit at the close of business on 30 September 2024 of $0.8614. The change in NAV from 1 October 2024 to 31 October 2024 represents a return of 0.67%. This compares with the All-Ordinaries Accumulation Index return of (1.33%) and the All-Maturities Bond Index return of (1.88%). Please note that “()” denotes a negative return outcome.
The Fund’s over the year net return (after fees and before franking) increased to 9.61% from 8.59% previously. In gross terms the return increased to 12.11% from 11.10% previously.
Quarterly Distribution Data
The distribution due to unit holders registered at the close of business on 30 September 2024 was $0.0145 per unit.
Download the Elstree Enhanced Income Fund’s monthly NAV and cash distribution history updated to, and including 30 June 2024.
Annual Report and Audit Report
Download the latest Audit Report for the Elstree Enhanced Income Fund
Withholding Tax Distribution Statement September Quarter 2024
Download the September Quarter 2024 Withholding Tax Distribution Statement.