Elstree Investment Management Limited

AFSL 225721

Elstree Enhanced Income Fund

Overview

The Elstree Enhanced Income Fund invests in a diversified portfolio of listed floating rate credit securities called hybrids. The Fund is designed primarily for investors who are seeking to earn a rate of return above the bank bill rate of return but are prepared to accept a small degree of capital risk to achieve that objective.

The Fund’s total return outcome is determined by the level of cash and franked income received from the Fund’s investments and changes in the capital value of the Fund’s investments.

The volatility of Fund’s return is extremely low due to the greater proportion of the total return outcome being attributed to stable cash and franked income with changes in the capital value of securities having only a relatively minor impact.

As a consequence an investment in the Fund is ideally suited to investors seeking capital stable franked income returns.

The suggested timeframe for an investment in the Fund is at least 3 years.

The Fund is for wholesale sophistocated investors only. The minimum investment amount is $500,000.

Performance Objective

The Fund aims to outperform the UBS Bank Bill Index by a margin of between 2.5 – 3% over a rolling 3 year period.

As at 30 September 2018 the Fund's rolling 5 year total investment return was 7.02% per annum (includes the benefit of franking and is gross of management fees). This compares with the UBS Bank Bill Index rate of return over the same period of 2.19% per annum.

To find out more about the Elstree Enhanced Income Fund click on the links below.

Fact Sheet

To view the latest Fact Sheet Click here

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How to invest

Simply download the Information Memorandum, complete the application form and send it, along with a cheque payable to Elstree Enhanced Income Fund to

The Compliance Manager
C/- Elstree Investment Management Limited
Level 10, 30 Collins Street
Melbourne Victoria 3000

To download our latest Information Memorandum dated 28 October 2015 Click here

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Latest Unit Price Data (cob) 28 September 2018.


NAV of a unit - 28 September 2018 $0.8107 (Ex-distribution $0.8027).

To download the Elstree Enhanced Income Fund's NAV history Click here

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Quarterly Distribution Data

The distribution due to unit holders registered at the close of business on 28 September 2018 was $0.008 per unit.

To download the Elstree Enhanced Income Fund's weekly NAV history Click here

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Monthly Report September 2018

Click on the link below to review a performance appraisal of the listed debt equity hybrid sector for the month of September 2018. The key features of the month were;

  • The Elstree Enhanced Income Fund's NAV of a unit at the close of business on 28 September 2018 was $0.8107 (Ex-distribution the NAV of a unit was $0.8027). This compares with the NAV of unit at the close of business on 31 August of $0.8105. The return from 31 August 2018 to 28 September 2018 represents a return of 0.02%. This compares with the All Ordinaries Accumulation Index and the All Maturities Bond Index returns of (1.06%) and (0.42%) respectively.

  • The Fund’s over the year net return (after fees and before franking) decreased to 5.37% from 5.88% previously. In gross terms the return decreased to 7.31% from 7.81% previously.

  • To download the September 2018 Performance Review Click here

    To download the August 2018 Performance Review Click here

    To download the July 2018 Performance Review Click here

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    Withholding Tax Distribution Statement March Quarter 2018

    To download the September Quarter 2018 Withholding Tax Distribution Statement Click here

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    Annual Report and Audit Report

    To download the latest Audit Report for the Elstree Enhanced Income Fund Click here

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    Our Funds

    Australian Enhanced Income Fund NAV (ASX Code AYF)

    Latest: 30 November 2018 $5.907.
    Previous 31 October 2018 $5.932

    Find Out More

    To view the latest Monthly Review Click here


    Elstree Enhanced Income Fund NAV

    Latest: 11 December 2018 $0.7944
    Previous 4 December 2018 $0.7976

    Previous month end: 30 November 2018 $0.7971

    Find Out More

    To view the latest Monthly Review Click here


    Latest Share Price AYF

    Click here for up to date share price
    (20 minute delay)

    Latest Fact Sheets

    Elstree Enhanced Income Fund. To view the latest Fact Sheet Click here

    Australian Enhanced Income Fund. To view the latest Fact Sheet Click here

    Latest Press. November 2016. Elstree in the ASX

    To view the article produced by the ASX Click here

    The Swedish housing market; a harbinger of what might happen here?


    Both the Swedish and Australian economies display a number of parallels. They are rich, employed, high income economies. Both feature high levels of household debt. An interesting facet of one of the economies is that property prices have fallen by 10% recently.

    To view our thoughts in more detail Click here

    Hybrid market performance in times of equity market weakness.


    With global equity markets selling off heavily in the first few days of February 2018 amid inflation concerns in the US we thought it was timely to comment on the performance of ASX listed hybrids in periods of equity market weakness.

    To read our thoughts in more detail please
    Click here