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RAGUSA MINERALS LTD Net Asset Value 2011

May 2, 2011

65664_rns_2011-05-02_98ce9fac-14a9-4fca-80a2-cc3423282aa0.pdf

Net Asset Value

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3 May 2011

Attention: Company Announcements ASX Limited Sydney NSW 2000

By E-lodgement

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AURORA FUNDS LIMITED (AFV) Monthly FUM and Fund Performance – 30 April 2011

The estimated, unaudited Net Asset Value and performance information for the Aurora funds is as follows:

Estimated NAV(per Unit) Estimated Performance
1 month Benchmark
Aurora Sandringham Dividend Income Trust (ASX Code:AOD) $1.0500 2.20% 0.06%1
Aurora Sandringham Global Income Trust (unlisted) $0.9452 1.67% 0.39%2
Aurora Global Income Trust (ASX Code:AIB) $1.2014 1.65% 0.39%2
Aurora Property Buy-Write Income Trust (ASX Code:AUP) $5.3429 1.77% 0.21%3
Aurora Fortitude Absolute Return Fund (unlisted) $0.9990 1.19% 0.40%4
Aurora Absolute Return Fund (ASX Code:ABW) $1.1490 1.18% 0.40%4

The total estimated funds under management and administration for Aurora Funds Limited is:

$ million 30 April 2011 31 March 2011 Change
Funds under Management/Administration 547.20 563.6 -16.4

The most recent Performance Newsletters for the various Funds can be found at www.aurorafunds.com.au and www.fortitudecapital.com.

Yours faithfully Aurora Funds Limited Aurora Funds Management Limited

Richard Matthews Company Secretary

Past performance is not a reliable indicator for future performance. The Benchmarks are:

1 50% of UBS Australia Bank Bill Index and 50% of S&P/ASX200 Accumulation Index

2 UBS Australia Bank Bill Index

3 S&P/ASX200 Property Accumulation Index (XPJAI)

4 RBA Cash Rate