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Welcome to Allan Gray Australia.
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Individual Investors
Discover the Allan Gray difference. Learn more about our Funds including performance and download offer documents.
Financial Advisers
The information contained in this section is for adviser and wholesale investor use only.
Retail Investors
The Allan Gray Australia Funds are available for investment by New Zealand retail clients.
To comply with New Zealand law, our website provides information only about Allan Gray Australia Funds. We do not provide advice to New Zealand retail clients.
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If you are looking for Allan Gray South Africa, please click here.
The website is primarily designed for Australian investors.
US persons are not generally permitted to invest in the Allan Gray Australia Funds. However, we will accept applications from US persons who are genuine residents of Australia, New Zealand or South Africa.
End of year Fund distributions 2024
Prepare for the end of the financial year 2024
With the end of the financial year fast approaching, there are a few important things to note about our Funds and distributions.
Distributions for all the Allan Gray Australia Funds will be made on 30 June 2024, with payments expected to be made on or around Friday 12 July 2024. The Allan Gray Australia Funds will reflect their new unit price from 1 July 2024.
If you hold units in the Allan Gray Australia Funds please check your distribution instruction and let us know if you would like to change it as soon as possible. We require written notice on or before 21 June 2024 to change a distribution instruction to meet the 30 June 2024 deadline.
FAQs
We often get a number of questions about unit pricing and distributions around the end of the financial year. Here are the most frequently asked questions:
Are all Funds distributing at the end of the financial year?
Yes, we expect that our managed funds will be making a distribution for the financial year ending 30 June 2024.
When can I expect to receive my distribution?
Investors who have nominated to have their distribution paid to a bank account can expect payment on or around Friday 12 July 2024.
Investors who have chosen to reinvest their distributions will have additional units applied to their account on Monday 1 July 2024. Please note that the processing times will mean there will be a delay before you see these additional units in your account.
When can I expect to receive my end-of-year statement?
End-of-year statements will be sent to you in mid-July 2024. This statement pack will consist of a distribution statement and tax statement together with a periodic statement that details all transactions on your investment over the last year.
Can I change my nominated bank account now for the distribution payment?
Yes. We require written notice on or before 21 June 2024 to change a nominated bank account for the distribution payment to meet the 30 June 2024 deadline. Please download and complete the ‘Change of details’ form to change your bank account details.
Why does a Fund’s unit price fall after a distribution?
We receive a number of calls from clients each year who are concerned the value of their investment has reduced after the distribution is paid. Although it is true that the unit value reduces, it’s important to remember that this is because the investor has been paid that money so their total wealth remains the same.
A Fund’s unit price reflects the value of the Fund’s investments together with any income accrued but not yet distributed to investors. After a distribution is paid to investors, the value of the Fund falls by the amount of income that’s distributed to investors. This means that while it may appear your investment is worth less on the day after the distribution, you actually have received the difference as income so the net impact for the investor is nil. This is shown in the chart below. When the distribution is paid, the unit price reduces by the same amount.
Source: Allan Gray. For illustrative purposes we have assumed the unit price increases at a constant rate. This is unrealistic, as investment performance doesn’t follow a straight line. We have also ignored any tax implications for simplicity.
What should I do if I have any further questions?
Our Client Services team can answer any general questions relating to our products and can be contacted on 1300 604 604 or at clientservices@allangray.com.au. For details on how earnings on your investments may affect your personal tax position, we recommend you talk to a tax specialist or accountant.
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Equity Trustees Limited ABN 46 004 031 298, AFSL No. 240975 is the issuer of units in the Allan Gray Australia Balanced Fund ARSN 615 145 974, Allan Gray Australia Equity Fund ARSN 117 746 666 and Allan Gray Australia Stable Fund, ARSN 149 681 774 (Allan Gray Funds) and units in the Orbis Global Equity Fund (Australia registered) ARSN 147 222 535, Orbis Global Equity LE Fund (Australia registered) ARSN 613 753 030 and Orbis Global Balanced Fund (Australia registered) ARSN 615 545 170 (Orbis Funds). Allan Gray Australia Pty Limited ABN 48 112 316 168, AFSL No. 298487 is the investment manager of the Allan Gray Funds.
Past performance is not a reliable indicator of future performance. There are risks involved with investing and the value of your investments may fall as well as rise. This represents Allan Gray Australia Pty Limited and Orbis Investment Advisory Pty Limited’s view at a point in time and may provide reasoning or rationale on why we bought or sold a particular security for the Allan Gray or Orbis Funds or our clients. We may take the opposite view/position from that stated, as our view may change. If this article is authored by Orbis, it does not prohibit the Orbis Funds from dealing in the securities before or after this article is published. This article constitutes general advice or information only and not personal financial product, tax, legal, or investment advice. It does not take into account the specific investment objectives, financial situation or individual needs of any particular person and may not be appropriate for you. We have tried to ensure that the information here is accurate in all material respects, but cannot guarantee that it is.
You should consider the relevant funds’ Product Disclosure Statement (PDS) or Information Memorandum (IM), as applicable, before acquiring, holding or disposing units in the Allan Gray or Orbis Funds. The PDS or IM can be obtained from www.orbis.com.au and www.allangray.com.au. Target Market Determinations (TMDs) for the Allan Gray products can be found at allangray.com.au/PDS-TMD-documents, while TMDs for the Orbis Funds can be found at www.orbis.com.au on the ‘Forms’ page under ‘How to Invest’. Each TMD sets out who an investment in the relevant Allan Gray or Orbis Funds might be appropriate for and the circumstances that trigger a review of the TMD.
Managed investment schemes are generally medium to long-term investments. They are traded at prevailing prices and the value of units may go down as well as up. There are risks with investing the Fund and there is no guarantee of repayment of capital or return on your investment. Subject to relevant disclosure documents, managed investments can engage in borrowing and securities lending. A schedule of fees and charges is available in the PDS.
