RFM Australian Cotton Fund

Fund Overview
Fund Assets
Unit Prices

 

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Fund Overview

The RFM Australian Cotton Fund was established in February 2002 in order to provide investors with competitive risk adjusted returns through select investments in cotton operations.

The ACF is invested solely in Lachlan Farming Limited (LFL), an unlisted public company, which was involved in large-scale cotton farming in the Hillston district of central New South Wales. For more information about LFL, please see the LFL webpage.

The ACF is closed to new investment.

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Fund Assets

ACF's sole asset, its investment in LFL, is also managed by RFM. Please see the LFL website for more information.

LFL is currently in the process of realising its assets and returning capital to LFL investors, including the ACF. LFL has completed the divestment of the majority of its assets, with the remaining assets comprising vendor finance valued at $3 million and a small amount of residual water entitlements.

It is expected that the vendor finance will be repaid to LFL by 30 June 2012 with water entitlement sales occurring within the same time period. LFL will then be in a position to pay a final distribution to the ACF which in turn will allow the ACF to make a final distribution to its unit holders.

The return of capital to ACF unitholders commenced with a payment of $0.8720 per unit on 4 July 2010. A second distribution of $0.2313 per unit was paid to ACF investors on 5 July 2011. The final distribution is estimated to be $0.2365 per unit and will be paid during the second half of 2012.

Please click on this link to view an update on LFL’s capital distribution program.

Table 1: Distribution payments below:

Declaration
Date

Record Date
Payment
Date

Total
Payment

Amount
per unit

Income*
Capital
1 July 2011
 5 July 2011
6 July 2011
 $2,058,725 $0.2319 $0.0000
$0.2319
16 June 2010 1 July 2010 2 July 2010 $7,750,000 $0.8720 $0.0000 $0.8720

* Taxation Statements contain relevant distribution information for the financial year. Unitholders should wait for the 2011 Taxation Statement to be issued in September 2011 in order to correctly complete their 2011 Tax Return.

 

Table 2: ACF Units, Net Assets and NAV
RFM Australian Cotton Fund as at 31 December 2011
Units on Issue 8,912,946
Net Assets / NAV $2,266,562

Unit Prices

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Key Documents