Overview
Listed on the Australian Securities Exchange (ASX) in October 2006 the Australian Enhanced Income Fund is a listed managed hybrid fund. The Fund invests in a diversified portfolio of up to 35 ASX listed debt equity hybrid securities.
The Fund is suitable for investors who are seeking to earn a rate of return consistently above the bank bill and Bank Term Deposit rates 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;
(1) the level of cash and franked income received from the Fund's investments and
(2) changes in the capital value of the Fund's investments.
The volatility of the Fund's total return is low due to the greater proportion of the return outcome being attributed to stable cash and franked income with changes in the capital value of securities playing a minor role.
As a consequence an investment in the Fund is ideally suited to investors seeking capital stable franked income returns.
At a net asset value (NAV) of a Unit of $6.00 the Fund's cash income yield is 4.66% per annum (assumes a $0.28 cents per annum distribution). The Responsible Entity estimates that the benefit of franking adds an additional 0.50% to the cash income yield on an annual basis.
The suggested timeframe for an investment in the Fund is at least 3 years.
As at 30 September 2019 the Fund's rolling 3 year return, expressed annually was 6.23% p.a. (net of fees but before the benefit of franking). This compares favourably with the Bank Bill rate of return over the same period of 1.79% per annum.
The Fund's ASX code is AYF.
Latest ASX Release: Securities Purchase Plan (SPP) Update.
Please click on the link below to view the ASX release in full. Click here
To find out more about the Australian Enhanced Income Fund click on the links below.
- How to invest
- Latest Fact Sheet
- Product Disclosure Statement
- Net Asset Value and Performance Review Commentary
- Dividends and Franking Estimates
- Shareholder Services
- Finding a Stockbroker
- Off Market Redemption Form
- Annual Reports
- Withholding Tax Distribution Statements
- Investor Presentations
- Latest Announcements
- Off Market Application Form.
How to Invest
You can buy units in the Australian Enhanced Income Fund ('Fund') on the Australian Securities Exchange (ASX) through any stockbroker. A list of our preferred stockbrokers can be found on this page under the heading Finding a Stockbroker.
You can also purchase units in the Fund off market on a bi-monthly basis through your stockbroker or financial adviser. Details of how you can apply for units off market can be found in the Product Disclosure Statement (PDS) below.
The Responsible Entity (RE) provides an off market redemption facility as well. This means you can sell or redeem your units without having to transact on market through your stock broker or financial adviser. Details of the off market redemption process can be found in the PDS.
The RE reserves the right to reject any redemption request at its absolute discretion. A copy of the off market redemption form can be found below.
The Fund offers a Dividend Reinvestment Plan (DRP) allowing unit holders to elect to receive their dividends in new units rather than in cash. This is an excellent cost efficient way to increase your holding in the Fund as there are no transaction costs associated with units issued under the DRP.
Units issued under the DRP are issued at the volume weighted average price or VWAP which is determined in the 2 trading days immediately preceding the record date.
Details of the Fund's DRP can be found under the heading on this page entitled Dividend Reinvestment Plan.
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Latest Fact Sheet
To view the latest Fact Sheet Click here
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Product Disclosure Statement (PDS)
To view the latest Product Disclosure Statement (PDS) Click here
Note that a new PDS was lodged with ASIC on 28 February 2013.
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Net Asset Value (NAV)
The Fund's NAV of a unit at the close of business on 30 June 2020 was $5.944 per unit. After the cash payment of $0.055 cpu to unit holders registered at the close of business on 30 June the Fund's ex-distribution NAV of a unit was $5.889. This compares with the NAV of a unit on 29 May 2020 of $5.841. The change in NAV over the period from 29 May 2020 to close of business on 30 June 2020 represents a return of 1.76%.
The franking benefit for June 2020 was estimated to be 0.18%.
To download the Fund's NAV history Click here
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Monthly NAV and Performance Review Commentary
To download a copy of the June 2020 Performance Review Click here
To download the May 2020 Review Click here
To download the April 2020 Review Click here
To download the March 2020 Review Click here
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Dividends and Franking estimates
Latest cash distribution: June Quarter 2020: $0.055 cash per unit.
To view previous cash distributions Click here
We remind investors in the Fund that we will continue to provide a franking estimate with each published monthly NAV and at each distribution point.
We estimate that 56.02% of the $0.07 cent per unit cash distribution paid to unit holders registered at the close of business on 30 June 2020 will be fully franked.
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Shareholder Services
Our share register is managed by Advanced Share Registry Limited. Investors can view their holdings, download forms, update their personal details, bank details, Tax File Number and communication preferences by Clicking here
To login, please have the following details available:
� Holder Identification Number (HIN) or Securityholder Reference Number (SRN)
� Postcode
For investors from outside of Australia:
� First choose your country
� Then insert the HIN or SRN
For all other investor enquiries, please call Advanced Share Registry on +61 8 9389 8033.
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Off Market Redemption Form
To download a copy of the off market redemption form Click here
Off Market Application Form.
To download a copy of the off market Application Form Click here
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Annual Report
To download a copy of the latest Annual Report Click here
Quarterly Withholding Tax Distribution Statements
To download a copy of the Quarterly Withholding Tax Distribution Statements Click here
Investor Presentations
To download a copy of our most recent investor presentation Click hereReturn to Top
Latest Announcements
To download the latest ASX Announcements Click here
Constitution
To download a copy of the Fund's Constitution Click hereReturn to Top
Corporate Governance Statement
To download a copy of our Corporate Governance Statement Click here
Conflict of Interest Policy
To download a copy of our Conflict of Interest Policy Click here