News & Media

Aurora has appointed Stephen Karrasch as its new head of distribution.

Prior to Aurora, Karrasch held roles at Macquarie Bank and Rothschild Australia. He was a founding member of OneVue and was most recently head of sales at Philo Capital Advisers.

In his new position Karrasch will manage sales, distribution and adviser support for the $220 million funds manager.

Aurora managing director Simon Lindsay said, “After the record profit announcement for the 2014 year, Aurora has been investing in its future growth and Stephen’s appointment is part of this strategy being implemented.”

Karrasch added, “After a number of years of building and distributing platform and managed account administration services, I’m excited to return to the investment side and work closely with a team of dedicated investment professionals innovating for the adviser and self-managed superannuation fund markets.”

By Alex Burke

In recent years Aurora has seen significant growth in its retail funds under management. However, in the retail world we operate in today, being a boutique funds management business requires capital to invest in future growth. Keybridge currently have $37m of Net Assets and with the support of Keybridge, Aurora will have access to capital to invest in its future growth. Additionally the investment expertise within Keybridge will help Aurora issue new products to additional distribution channels. It will also give Aurora the opportunity to market the existing infrastructure and services of Aurora to other investment professionals. The Board believe this is the right step forward for Aurora to continue to prosper.

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In a move designed to demonstrate its continued commitment to the retail funds management arena, Aurora Funds Limited has announced the appointment of Stephen Karrasch as its new Head of Distribution. This follows the promotion of Simon Lindsay to Managing Director and the recently announced sale of the funds management business to Keybridge Capital Limited.

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The purpose of the EGM is to seek Shareholder approval for the proposed sale of Aurora Funds Management Limited to Keybridge Capital Limited.

The Transaction represents an excellent opportunity to establish a strong financial base to enable Aurora Funds Management Limited to fully fund its growth potential.

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Keybridge Capital and Aurora Funds Limited are pleased to announce they have today signed the Contract of Sale for the purchase by Keybridge of Aurora Funds Management Ltd (AFML). The key terms remain the same as those agreed in the terms sheet signed on 19 December 2014.

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In the following years Aurora will continue to focus its sales efforts on the financial planning community and on sourcing fund inflows from retail investors.

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Aurora is pleased to announce that from 1 July 2014 ABW will accept off market applications and redemptions daily. This process was previously monthly.

The process for making applications and redemptions can be found on our website at http://www.aurorafunds.com.au/investment-funds/absolute-return-fund/abw-listed/

Aurora Funds Limited is pleased to announce the following management changes.

Simon Lindsay, currently an Executive Director and Head of Distribution will be appointed Managing Director of the Company, following the decision of Steuart Roe to step down from the role at the next Annual General Meeting, expected to be in held in October. To ensure a smooth transition to the new arrangements Simon and Steuart will work together to fulfil the responsibilities of the role until that time.

Simon has been a Director of Aurora Funds Limited since its inception in 2003, and has extensive experience in the financial services industry in Australia.

Steuart will continue as a Director of Aurora, and the change in role will provide him with more opportunity to focus on investment management, and in particular the continued management of the Aurora Dividend Income Trust.

The Board wishes to thank Steuart for his contribution as Managing Director of Aurora over the last four years and to congratulate Simon on his appointment.

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