Aoris International Fund Sees Over $7.2 Million in Net Unit Redemptions for June 2026

Total Outstanding Units for Aoris International Fund Across BAOR and DAOR as of 30 June 2026

At market close on 30 June 2026, the Aoris International Fund had a combined total of 132,882,189 units outstanding between its two ASX-listed classes. The Class B Unhedged Active ETF (BAOR) held 59,353,411 units valued at $129,776,233, while the Class D Hedged Active ETF (DAOR) had 73,528,778 units valued at $137,462,050. Together, these represented an aggregate fund value of approximately $267.2 million at month-end.

These figures were prepared and issued by Aoris Investment Management Pty Ltd (ABN 11 621 586 552, AFSL 507281) in its role as investment manager. The Trust Company (RE Services) Limited (ABN 45 003 278 831) acts as the Responsible Entity and unit issuer for the fund. This distinction is important to investors as the responsible entity holds legal responsibilities related to the product disclosure statement and ongoing compliance under Australian financial services legislation.

Class B Unhedged ETF (BAOR) Posts $3.63 Million Net Redemptions in June 2026

During June 2026, the Class B Unhedged ETF (BAOR) issued 10,000 units valued at $22,009, while 1,695,000 units were redeemed with a value of $3,649,861. This resulted in a net redemption of 1,685,000 units, equating to a net outflow of $3,627,852 for the month. This marks a significant decrease relative to the total outstanding units of approximately 59.4 million for this class.

The relatively small volume of new unit issuance—just 10,000 units at an implied price near $2.20 per unit—contrasts sharply with the much larger redemption volume. The report clarifies that all values exclude transaction costs, reflecting the base prices at which units were issued or redeemed. The company did not disclose the reasons for the redemptions or the identities of redeeming investors.

Class D Hedged ETF (DAOR) Records No New Issuances and $3.63 Million in Net Redemptions

The Class D Hedged Active ETF (DAOR) reported zero new unit issuances in June 2026. Conversely, 1,955,000 units were redeemed, valued at $3,632,170, resulting in a net redemption of 1,955,000 units and a net outflow of $3,632,170 for the period. The lack of new unit creation in this class during June is a notable detail for those tracking fund flows.

Despite these redemptions, DAOR maintained 73,528,778 units outstanding at month-end, valued at $137,462,050. This class remains larger than BAOR in both unit count and total value, indicating that currency-hedged international equity exposure continues to attract a substantial investor base within the Aoris fund. No commentary on investment performance, benchmark returns, or portfolio composition was provided in this update.

Methodology Behind Net Redemption Calculations in Aoris's Monthly Reports

The report specifies that the total values of unit issuances and redemptions, and their net difference, are calculated based on prices excluding transaction costs at which units were issued or redeemed during the month. This approach aligns with standard practices for ASX-listed managed funds and active ETFs under ASIC’s regulatory framework for monthly fund flow disclosures.

Investors and analysts should note these figures reflect cash flows from investor activity and do not indicate changes in net asset value driven by market performance. Variations in total outstanding unit value month-to-month may result from both net issuance/redemption and market value changes in the underlying portfolio, though only the former is reported here.

June 2026 Sees Combined Net Outflows Exceeding $7.26 Million Across Both Fund Classes

Summing net redemptions across both classes, the Aoris International Fund experienced approximately $7,260,022 in net outflows during June 2026 ($3,627,852 from BAOR and $3,632,170 from DAOR). Relative to the fund’s combined value of about $267.2 million, this represents roughly 2.7% of total assets under management.

Observers of Australian active ETF flows should recognize that a single month of net redemptions does not necessarily signal a fundamental shift in investor sentiment. Fund flows can fluctuate due to seasonal factors, institutional portfolio rebalancing, or broader market conditions. No guidance on expected flows for July 2026 or beyond was provided.

Aoris Investment Management’s Role and Fund Structure Within the Perpetual Group

Aoris Investment Management Pty Ltd serves as the investment manager for the Aoris International Fund, while The Trust Company (RE Services) Limited acts as the responsible entity. The Trust Company (RE Services) Limited is a subsidiary of Perpetual Limited (ABN 86 000 431 827), one of Australia’s largest independent wealth management firms. This structure, separating investment management from the responsible entity function, is common among Australian managed investment schemes.

The update includes a standard disclaimer that neither Aoris nor any Perpetual Group company guarantees fund performance or capital return. It also emphasizes that the information is general and not personal financial advice, advising investors to consult the product disclosure statement and target market determination before investing. These disclosures comply with Australian financial services regulations under the Corporations Act 2001.

BAOR and DAOR Offer Currency-Differentiated Access to Aoris’s International Equity Strategy

The Aoris International Fund is available in two ASX-listed classes to suit investors’ currency risk preferences. Class B Unhedged Active ETF (BAOR) provides exposure to the international equity portfolio without currency hedging, meaning returns are influenced by AUD exchange rate movements. Class D Hedged Active ETF (DAOR) employs hedging strategies to mitigate currency risk, aiming to deliver returns more aligned with the local currency performance of the portfolio.

The larger unit count and value of DAOR as of 30 June 2026 may indicate a current investor preference for hedged international equity exposure, though no commentary on this was provided. Both classes are actively managed, with discretionary portfolio decisions by Aoris Investment Management rather than passive index tracking.

Implications of the June 2026 Unit Activity Report for Investors Monitoring Aoris Fund Flows

For investors and advisers following the Aoris International Fund, the monthly unit activity report offers a clear and timely view of net capital movements. Disclosure of units issued, redeemed, and their values enables market participants to gauge whether the fund is expanding or contracting monthly. June 2026 data shows net outflows across both classes, though the fund’s asset base remains sizable.

The forthcoming July 2026 unit activity report will be crucial in revealing whether June’s net redemption trend persists, stabilizes, or reverses. Broader macroeconomic factors—including global equity markets, currency fluctuations, and domestic risk appetite—are likely to influence future fund flow trends. The immediate impact on share prices was unclear, as active ETF unit prices depend on underlying net asset values and secondary market trading rather than a single disclosed price.

Accessing the Aoris International Fund Product Disclosure Statement and Additional Details

Investors seeking more information about the Aoris International Fund’s investment approach, fees, risks, and suitability can obtain the product disclosure statement and target market determination free of charge by calling 02 8098 1505 or visiting www.aoris.com.au/invest-with-us. These documents outline the fund’s terms and intended investor profile.

The update notes that information is current as of 2 July 2026 and may be superseded by later developments. Investors are reminded to seek personalized financial advice from licensed professionals, as monthly unit activity disclosures serve regulatory reporting purposes rather than personalized recommendations. Aoris’s AFSL number is 507281, confirming its authorization as an investment manager under Australian financial services law.