Daintree Hybrid Opportunities Active ETF (ASX: DHOF) Delisted at Perennial Investment Management's Request Effective 16 July 2026

DHOF Trading Delisting Effective at Market Close on 16 July 2026

The company announcement confirmed that DHOF’s admission to trading on the ASX was revoked at the close of trading on Thursday, 16 July 2026. From that point forward, DHOF units ceased to be available for purchase or sale through the standard exchange-traded market mechanisms previously accessible to investors. This revocation was not triggered by regulatory enforcement or sanctions but was initiated expressly by Perennial Investment Management Limited, the fund’s responsible entity.

The delisting adhered to ASX Operating Rule Schedule 10A.3.1.(g), which outlines the conditions under which a responsible entity may request removal of a managed fund or exchange-traded product from the ASX’s official trading list. This regulatory framework formalizes the withdrawal process, effectively ending DHOF’s status as a listed investment product. For unitholders, this means the secondary market liquidity for DHOF units ended as of the delisting date.

Perennial Investment Management Limited Initiates DHOF Withdrawal from ASX

Perennial Investment Management Limited, responsible for managing the Daintree Hybrid Opportunities Active ETF, formally requested the revocation of the fund’s ASX trading status. This decision was made at the management level, though the company update did not disclose the commercial or strategic rationale behind the timing of this request.

Perennial Investment Management Limited is an Australian investment manager with expertise in hybrid and fixed income asset classes. The DHOF was among its ASX-listed products, offering investors actively managed exposure to Australia’s hybrid securities market. The announcement did not specify the fund’s size, assets under management, or the number of affected unitholders. Investors seeking detailed information on redemption timelines or wind-up procedures should await further communications from Perennial Investment Management Limited.

Understanding ASX Operating Rule Schedule 10A.3.1.(g) in the DHOF Delisting

The revocation process for DHOF complied with ASX Operating Rule Schedule 10A.3.1.(g), which governs the conditions allowing a responsible entity to request removal of a listed managed fund or exchange-traded product from trading. This rule is part of the broader Schedule 10A, which covers admission and ongoing obligations for managed funds listed on the ASX.

This formal mechanism differentiates DHOF’s delisting from other types of removals, such as those due to non-compliance, regulatory action, or liquidity issues. The announcement clarifies that the revocation was a deliberate, managed decision by the responsible entity, not resulting from financial distress or regulatory breaches.

DHOF’s Role in Providing Access to Australia’s Hybrid Securities Market

As an actively managed ETF, the Daintree Hybrid Opportunities Active ETF differed from passive index-tracking funds by relying on portfolio managers’ investment decisions to select and manage its holdings. The fund focused on hybrid securities within the Australian fixed income and credit markets, including instruments such as convertible notes, capital notes, and subordinated debt issued by Australian corporations and financial institutions, including major banks.

Hybrid securities occupy a middle ground between debt and equity, typically offering higher yields than senior debt but with increased risk. Their performance is influenced by interest rates, credit spreads, and issuer financial health. The fund’s active management involved continuous evaluation of securities and portfolio positioning. The announcement did not provide details on the fund’s historical performance, distributions, or portfolio composition at the time of delisting.

Consequences for DHOF Unitholders After Loss of Exchange-Traded Liquidity

With DHOF’s trading status revoked as of 16 July 2026, investors holding units on that date lost access to the ASX secondary market liquidity that allowed buying and selling during trading hours. Post-delisting, unitholders must rely on any redemption or wind-up processes implemented by Perennial Investment Management Limited.

The announcement did not specify details on redemption arrangements, wind-up timelines, or how unitholders will receive proceeds from their holdings. Investors are advised to contact Perennial Investment Management Limited or consult financial advisers for guidance. The immediate impact on DHOF’s market price was not disclosed, as trading ceased at market close on the delisting date.

ASX Supervision’s Role in Managing DHOF’s Trading Status Revocation

The revocation notice was issued by ASX Supervision, the division of ASX Limited responsible for market integrity and enforcement of listing and trading rules. Their involvement ensures the delisting process complies with ASX operating rules and provides official notification to market participants, including brokers, custodians, and investors.

ASX Supervision’s role is administrative in this context and does not imply any investigation or disciplinary action related to the fund or its manager.

Context: Actively Managed ETFs in Australia’s Fixed Income and Hybrid Markets

The Daintree Hybrid Opportunities Active ETF operated within Australia’s growing ETF market, which includes a variety of actively managed strategies alongside passive products. The fixed income and hybrid ETF segment attracts investors seeking income-focused investments, especially amid changing interest rate environments. Actively managed ETFs compete with managed funds, listed investment trusts, and direct bond or hybrid portfolios for investor capital.

Delisting of a listed ETF is relatively rare in Australia and may reflect factors such as commercial viability, fund scale, strategic priorities, or product consolidation. The announcement did not disclose reasons for Perennial Investment Management Limited’s decision to delist DHOF. Investors in this sector should monitor developments as part of their broader assessment of available products and manager strategies.

Investor and Adviser Guidance Post-DHOF Trading Delisting

Following the revocation of DHOF’s trading status on 16 July 2026, investors should closely monitor communications from Perennial Investment Management Limited regarding fund wind-up, unit redemption, and the return of capital. Updates may be provided via written notices, website postings, or further market announcements.

Investors should also consider potential tax and administrative implications, including capital gains or losses from unit redemptions and any outstanding income distributions. Since the announcement did not address these issues, affected investors are encouraged to seek advice from qualified financial or tax professionals to understand the impact of the fund’s closure on their individual circumstances. The next important update will come from Perennial Investment Management Limited detailing the redemption and wind-up process.