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Aurora Unit split?

Discussion in 'Managed Funds & Index Funds' started by rambada, 19th Sep, 2008.

  1. rambada

    rambada Well-Known Member

    Joined:
    5th Sep, 2005
    Posts:
    58
    Just looking at the Aurora Dividend Income fund & it refers to a 8 for 1 split in July 2008.

    What does this mean & why would they do it?
     
  2. Simon Hampel

    Simon Hampel Co-founder Staff Member

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    9th Jun, 2005
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    Location:
    Sydney, Australia
    stock split: Definition from Answers.com

    Not sure why they would do it - couldn't find any discussion about it on their website when I had a quick look. Perhaps they thought there was a perception in the market that their share/unit price was too high, and that it would become more attractive at a lower level?
     
  3. ashwright

    ashwright Well-Known Member

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    30th Nov, 2007
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    Location:
    Brisbane, Qld
    I read that they thought the perception was Aussies prefer 'managed funds' to have a unit price around a dollar. So they changed the unit price, though the split, to reflect this.