On 4 January 2018, the Aurora fund management announces on ASX that its Aurora Property Buy-Write Income Trust (ASX: AUP) has an estimated net asset value per unit of $3.58 which includes the franking credits. AUP holds 81% interest in the RNY Property Trust (ASX: RNY). As a result of significant ownership in RNY, it is lightly traded on ASX. Also, AUP holds an interest of 1.3 cents per share in RNY.
The official listing of Aurora Property Buy-Write Income Trust on ASX is 26 July 2007, where the performance of the fund is consistently negative. However, its YTD performance is 6.80%. In 10 years, the performance of the fund was -52.98%. The last one-year return of the fund was -45.68%.
For the fiscal year which got ended on 30 June 2018, the operating loss of the fund was $1,667,115. There was a loss of $0.845 per unit of the fund. The net asset which attributable to the unitholders of AUP is $6,907,537.
FY2018 highlights a decrease in the net cash and cash equivalent as a result of the net cash available with the fund was $50,274.
Although by having a look at the financial statement of AUP, the results were not good enough as a result of increased operating losses as compared to the previous years. The real estate sector as a whole has given poor performance in FY2018. The home prices in Australia were falling as a result of increased taxes, bank loan lending strategies, unemployment rates along with the market sentiment. The data from FY2018 reports that Sydney and Melbourne were the weakest markets. The real estate value went down in between 4.7% to 7.4%. The property sector as a whole plunged at the much faster rate in December 2018. FY2018 reports the quickest decline in the past six years. However, the fund’s last one month’s performance was better than all its previous performance. Also, the investors might be hopeful that the real estate market might improve in near future which made the fund price increase by 2.273%.
At present, the market price of the fund is A$2.250 (AEST: 3:49 pm) which is 0.05 points above its previous trading day’s closing price. It is towards 52 weeks low price and has a market capitalization of A$4.43 million.
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