Two of Aurora Funds Management's funds - the Aurora Buy-Write Income Trust and the Infrastructure Buy-Write Income Trust - have outperformed their respective benchmarks in 2008, and go into 2009 ready to take advantage of the emerging opportunities in global markets.
The Buy-Write Income Trust, which returned +1.20% in December but was down -8.19% in the six months since July, outperformed the S&P/ASX200 Accumulation Index and the ASX All Ordinaries Accumulation Index by +18.64% and +21.54% respectively in the six month since July 2008. The fund remained heavily invested in cash in December, and is positioned to invest in compelling investment opportunities as they arise.
The Infrastructure Buy-Write Income Trust returned +0.60% in December but was down -1.90% since inception (December 2007), compared to the UBS Global 50/50 Infrastructure and Utility Index which returned -32.7% in the same period. The manager reported that the fund ended 2008 with most of its capital preserved, with investments in electric, gas and water utilities the key drivers of performance. This has placed the fund in a good position to take advantage of attractive investment opportunities.
