News & Media

Aurora Funds Management Limited, a fully owned subsidiary of Keybridge Capital, is pleased to announce the appointment of Hugh Dive as a Senior Portfolio Manager. Hugh will work with the existing investment team, focusing on the Aurora Dividend Income Trust and the Aurora Property Buy-Write Income Trust. This appointment is a demonstration of the group’s ongoing expansion and commitment to providing risk adjusted returns to investors.

“Aurora offers retail investors access to liquid institutional-grade investment funds listed on the ASX, with ten year track records of delivering high and consistent income to investors, whilst reducing the risk of capital loss through employing novel derivative strategies. I’m excited to have the opportunity work together with the experienced and well-regarded Aurora investment team” Hugh said.

Prior to joining Aurora Fund Management, Hugh was Head of Listed Securities at Philo Capital and responsible for managing over A$1 billion in three strategies: Core Australian Equities, Listed Property and Interest Rate Securities. Hugh was also previously Head of Basic Materials at Citigroup Investment Research and in the 2011 Reuters StarMine Equity Analyst Awards, he was rated 5th overall amongst Australian analysts for stock-picking. Hugh has extensive portfolio management experience gained at Investors Mutual and at CC&L Investment Management in Vancouver, Canada’s largest independent fund manager. Hugh holds bachelor degrees in both Economics and Law from Sydney University, Canadian Securities Course (Honours) and is a CFA charter holder.

“I see that valuations in global equity markets are looking stretched and that prevailing interest rates provide insufficient income to satisfy the requirements of most investors. Consequently Aurora’s Dividend Income Trust and Property Buy-Write Income Trust will clearly appeal to investors interested in generating a high yield on their capital, but who are also concerned about limiting the risk of capital losses” .

His appointment followed the employment of Stephen Karrasch as Aurora’s new head of distribution and the sale of the funds management business to Keybridge Capital. CEO Simon Lindsay said “The balance sheet strength of Keybridge continues to gives Aurora the confidence to invest in additional investment talent to support the existing staff and improve the quality of the Aurora’s investment offer”.

Aurora manages funds of approximately $150 million on behalf of over 2500 retail investors.

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/