Affluence Investment Fund (AIF)

Affluence was formed to provide better investment solutions. We believe in doing things differently.

Our focus is on delivering superior long term investment performance and providing quality education and investment ideas for our Investors.

We are contrarian, value focused, and invest for the long term. We believe exposure to quality investments across multiple asset classes, managers, geographies and strategies should be a fundamental building block of any well diversified portfolio.

We pride ourselves on the quality of our products and alignment with our investors. We were the first investors in each of our Funds and a significant proportion of our own and extended families wealth is invested in our Funds.

We believe managing less money than average provides us with significant advantages. So while we don’t aim to be one of the biggest managers, we do aim to be one of the best.

Daryl and Greg are the key persons managing the Fund. Both Daryl and Greg spend the majority of their time managing the investment portfolios of the Fund and other AFM managed funds. 

Daryl has overall responsibility for  investment and funds management activities at AFM. Daryl was responsible for setting up the Fund in late 2014 and is co-manager of the Fund investment portfolio.

Daryl has experience across all aspects of funds management including investment, operations and capital raising.

Prior to forming AFM, Daryl was a Director of Cromwell Property Group, an ASX-listed property and fund manager, for over 15 years.

From 2008 until 2015, Daryl was responsible for Cromwell’s unlisted funds management business, which created and managed investment funds worth over $1 billion and delivered impressive returns for the thousands of investors in these funds.

Daryl holds a Bachelor of Commerce, a Diploma of Financial Planning and is a member of the Institute of Chartered Accountants.

Greg joined AFM in 2015. Greg is co-manager of the Fund investment portfolio. He is primarily responsible for analysing new investment opportunities, asset allocation, fund analysis, performance reporting, and investment management.

Prior to joining AFM, Greg was employed by Cromwell Property Group for over 9 years. During this time, he held a range of positions including fund analyst, transactions analyst and investment strategist.

Greg holds a Bachelor of Applied Science (Property Economics).

The minimum initial investment amount is $20,000. You can add additional amounts later from as little as $1,000. Applications are processed monthly. Application funds awaiting processing are held in a trust account.

You can lodge a withdrawal request form at any time. Withdrawals are generally processed monthly and paid out 10 days after the end of the month, although we reserve the right to process these less frequently in exceptional circumstances.

The Fund aims to provide you with a minimum distribution yield of 5% per annum, paid monthly. Generally, distributions will consist of a share of the income and franking credits the Fund receives during the year from its investments, plus any taxable capital gains from sales of investments, less costs (including our performance fees). Distribution rates are smoothed to ensure consistency but are based on our assessment of the expected earnings of the Fund’s investment portfolio over rolling 3-year periods.

Distributions are generally paid 10 days after the end of each month. Distributions are paid to your nominated bank account or can be reinvested if you wish.

Partly. The Fund distributes all franking credits received from investments to investors at the end of the tax year. Franking credits are usually distributed in proportion to distributions paid during the year. So, if you were only an investor for part of the year, you will receive a lower proportion of franking credits than if you were invested for the full year. See here for the full distribution and franking history of the Fund.

You will receive a monthly report outlining the Fund portfolio and performance, monthly distribution advices, annual investment statements, and an annual tax statement with details of the amounts to be included in your tax return.

Affluence does not charge any fixed fee for managing the Fund. Instead, we charge a performance fee of 12.5% of the Fund’s positive returns (after recovering any previous negative performance). Affluence also recovers certain costs from the Fund, which are generally capped at 0.25% per annum of the net assets of the Fund. The Underlying Managers the Fund invests with also charge fees for their services. Other costs are also payable. Fees and costs are not paid by you directly but are paid out of the assets of the Fund. All Fund performance numbers are after allowance for these fees and costs.

You may also pay fees to a financial advisor or investment platform operator if you invest through them. These fees are not paid to Affluence or the Fund. Please refer to the PDS for more information about fees and costs.