Macadamia flowers at Boombera Park
Announcements - Arrow Primary Infrastructure Fund
31 March 2025: Distribution for March quarterArrow directors have declared the distribution for the third quarter ended 31-Mar-2025 on units held in the Arrow Primary Infrastructure Fund. The distribution will be 2.0 cents per unit (CPU) and will be paid on Wednesday, 30 April 2025.
26 February 2025: Withdrawal OfferTo provide a liquidity option for investors in our Fund, a limited Withdrawal Offer is being made available to all unitholders. The Offer opens on 1-Mar-2025 and closes on 31-Mar-2025. Units will be redeemed effective 31-Mar-2025 at the Withdrawal Price of $1.1612 and a participating investor should receive redemption proceeds into their bank account on 3-Apr-2025. For more information see the Withdrawal Offer Form.
23 January 2025 December NAV and Quarterly distributionArrow directors have declared the distribution for the second quarter ended 31-Dec-2024 on units held in the Arrow Primary Infrastructure Fund. The distribution will be 2.0 cents per unit (CPU) and will be paid on Friday, 31January 2025.
The Net Asset Value at 31 December 2024 was $1.2223 per unit. This represents a minor increase from the NAV as at 30-Sep-2024. Investors who have elected to participate in the Distribution Reinvestment Plan (DRP) will receive new units in the Fund on 31 January 2025, calculated at $1.2223 per unit.
18 October 2024: NAV & distribution as at 30 September 2024The Net Asset Value at 30 September 2024 was $1.2194 per unit. This represents a minor decrease from the NAV as at 30-Jun-2024 of $1.2290. The decrease was due to the negative movement in future interest rate derivatives, which reduced the Fund's marked to market asset. The distribution will be paid on 31-Oct-2024.
Directors have declared a consistent distribution for the quarter ended 30-Sep-2024 of 2.0 cents per unit, payable on 31-Oct-2024. Investors who have elected to participate in the Distribution Reinvestment Plan (DRP) will receive new units in the Fund on 31-Oct-2024, calculated at $1.2194 per unit.
27 September 2024: Withdrawal Offer closeAt the closure of the Withdrawal Offer on 27 September 2024 the Withdrawal Price was confirmed to be $1.1676 per unit. Following processing on our Register, a total of 1,678,816 units will be redeemed and proceeds paid out on 1 October 2024.
26 September 2024: Tax StatementsFY2024 Tax Statements for Arrow Primary Infrastructure Fund were processed by our Registry, BoardRoom Pty Ltd, and emailed/posted to all investors on 26-Sep-2024.There will be no FY2024 Tax Statements issued for Arrow Operations Trust All investors in Arrow Primary Infrastructure Fund (APIF) hold an identical number of stapled units in Arrow Operations Trust (AOT). Units in AOT were issued to all APIF investors at zero cost on 1 July 2023. Those unitholders participating in APIF's Distribution Reinvestment Plan have had their AOT unit holding increased (at zero cost) at the time of each distribution, so as to maintain an identical holding.Arrow Operations Trust owns Boombera Park Macadamias Pty Ltd, which is the operating company running the Fund’s 750 hectare macadamia orchard near Lawrence, NSW.Boombera Park Macadamias Pty Ltd is funded by Arrow Primary Infrastructure Fund and at this stage is not generating net taxable income.Arrow Operations Trust has therefore not generated any taxable income attributable to its unitholders. As a result there will be no Tax Statement issued by Arrow Operations Trust for the financial year to 30 June 2024.
28 August 2024: Withdrawal OfferTo provide a liquidity option for investors in our Fund, a limited Withdrawal Offer is being made available to all unitholders. The Offer opens on 28-Aug-2024 and closes on 27-Sep-2024. Units will be redeemed effective 27-Sep-2024 at the Withdrawal Price of $1.1676 and investors will receive proceeds into their bank accounts on 1-Oct-2024. For more information on the Withdrawal Offer click here.
26 August 2024: Fund Update & FY2024 Annual Report issued
26 July 2024: NAV as at 30 June 2024The Net Asset Value at 30 June 2024 was $1.2290 per unit. This represents a minor increase from the NAV as at 31-Mar-2024. Investors who have elected to participate in the Distribution Reinvestment Plan (DRP) will receive new units in the Fund on 31 July 2024, calculated at $1.2290 per unit.
18 July 2024: Changes at Cobbitty GlasshouseThe tenant of the Fund's Cobbitty Glasshouse, Green Camel Pty Ltd, has today entered into Voluntary Administration. Stephen Hathway and Philip Hosking of HELM Advisory have been appointed as Adminstrators and the Fund's tenant is now Green Camel Pty Ltd (Administrators Appointed). The Cobbitty Glasshouse was the only business activity carried on by Green Camel. Arrow will be working cooperatively with the Administrators to ensure that the Cobbitty Glasshouse remains open for business, so that a new tenant can commence operations as soon as possible. Arrow will be funding the Administrators and receiving rent as from 25 July 2024.
27 June 2024 June Quarter distributionArrow directors have declared the distribution for the final quarter ended 30-Jun-2024 on units held in the Arrow Primary Infrastructure Fund. The distribution will be 2.0 cents per unit (CPU) and will be paid on Wednesday, 31July 2024.
24 April 2024: NAV as at 31 March 2024The Net Asset Value at 31 March 2024 was $1.2278 per unit. This represents a minor decrease of $0.0079 from the NAV as at 31-Dec-2023. Investors who have elected to participate in the Distribution Reinvestment Plan (DRP) will receive new units in the Fund on 30 April 2024, calculated at $1.2278 per unit.
3 April 2024: March Quarter distribution
Arrow directors have declared the distribution for the quarter ended 31-Mar-2024 on units held in the Arrow Primary Infrastructure Fund. The distribution will be 2.0 cents per unit (CPU) and will be paid on Tuesday, 30 April 2024.
5 March 2024: Withdrawal OfferTo provide a liquidity option for investors in our Fund, a limited Withdrawal Offer is being made available to all unitholders. The Offer will open on 6-Mar-2024 and close on 28-Mar-2024. Units will be redeemed on 31-Mar-2024 and investors will receive proceeds into their bank accounts on 2-Apr-2024.
26 February 2024: Fund Update & HY2024 Financial Statements issued
30 January 2024: NAV as at 31 December 2023The Net Asset Value at 31 December 2023 was $1.2357 per unit. This represents an increase of 1.03 cents from the NAV as at 30-Sep-2023. Investors who have elected to participate in the Distribution Reinvestment Plan (DRP) will receive new units in the Fund on 31 January 2024, calculated at $1.2357 per unit.
2 January 2024: December Quarter distributionArrow directors have declared the distribution for the quarter ended 31-Dec-2023 on units held in the Arrow Primary Infrastructure Fund. The distribution will be 2.0 cents per unit (CPU) and will be paid on Wednesday, 31 January 2024.
20 October 2023: NAV as at 30 Spetember 2023The Net Asset Value at 30 September 2023 was $1.2254 per unit. This represents an increase of 0.0031 cents from the NAV as at 30-June-2023. Investors who have elected to participate in the Distribution Reinvestment Plan (DRP) will receive new units in the Fund on 31 October 2023, calculated at $1.2254 per unit.
10 October 2023: September Quarter distributionArrow directors have declared the first quarter's distribution for FY2024 on units held in the Arrow Primary Infrastructure Fund. The distribution will be 2.0 cents per unit (CPU) and will be paid on Tuesday, 31 October 2023.
25 September 2023: Annual Tax Statements FY2023Annual Tax Statements for FY2023 have been emailed out to investors today. Those investors who have elected to receive statements by Post should receive them early next week (they will be posted this Friday, 29 September 2023.
Annual Tax Statements for FY2023 (and any other year) can also be downloaded via BoardRoom's InvestorServe portal - https://www.investorserve.com.au/
31 August 2023: Fund Update & FY2023 Financial Statements issued
24 July 2023: NAV as at 30 June 2023
The Net Asset Value at 30 June 2023 was $1.2223 per unit. This represents an increase of 0.85 cents from the 31-Mar-23 NAV.
Investors who have elected to participate in the Distribution Reinvestment Plan (DRP) will receive new units in the Fund on 31 July 2023, calculated at $1.2223 per unit.
1 July 2023: Issue of stapled units in Arrow Operations TrustArrow directors confirm that on 1 July 2023, each unitholder in Arrow Primary Infrastructure Fund (APIF) has been issued with an identical number of units in Arrow Operations Trust (AOT) to that which they own in APIF. The AOT units have been issued at zero cost.
Following the above issue of AOT units, a Stapling Deed has been executed and the units in APIF and AOT are now stapled, meaning that neither unit can be dealt with without the corresponding stapled unit being dealt with in the same manner.
Following execution of the Stapling Deed , the 100 shares in Boombera Park Macadamias Pty Ltd (BPM) owned by APIF were transferred to AOT at $100, being the net asset value (issued capital) of BPM.
Following the above share transfer, APIF has entered into a lease of its Boombera Park property with BPM.
APIF therefore retains ownership of the Boombera Park property and will continue as a passive investment trust. BPM will undertake all trading operations associated with the macadamia property.
22 June 2023: June Quarter distributionArrow directors have declared the final quarter's distribution for FY2023 on units held in the Arrow Primary Infrastructure Fund. The distribution will be 2.0 cents per unit (CPU) and will be paid on Monday 31 July 2023.
20 June 2023: Result of APIF members meetingAt a General Meeting of Fund members held on 20-Jun-2023 the folowing special resolution was considered:
‘That the Constitution be amended in accordance with the provisions of the Supplemental Deed Poll, and that Arrow be authorised to execute the Supplemental Deed Poll and make any such other amendments to the Constitution that are necessary or expedient to facilitate the implementation of the Stapling Proposal.’
Results: Number of votes cast on the Poll: "For" 98,695,736 (100%); "Against" 0; Carried
26 May 2023: Restructure of Boombera Park Macadamias Pty Ltd (BPM)A global oversupply of macadamias has led to near-record low farmgate prices and difficulty in securing a third-party tenant for Boombera Park at this time.Arrow is proposing to restructure the Fund’s ownership of Boombera Park Macadamias Pty Ltd to ensure that the Fund’s asset value and unitholders’ long-term interests are maximised. The restructure will also keep open the option to lease (or sell) the property to a third-party at a suitable time in the future.Unitholders will retain ownership of the Boombera Park Property and exposure to the same underlying assets following implementation of the proposed restructure. To effect the proposed restructure, the Fund’s constitution requires some amendments in relation to stapling of the Fund’s units, which must be approved at a meeting of unitholders.
The Notice of Meeting is being dispatched by email/post to all Unitholders and the meeting will be held on 20 June 2023. A copy of the Notice of Meeting and Explanatory Memorandum can be downloaded from the Fund Report page of this website.
To vote, unitholders will need to follow the instructions on their personalised Proxy Form. Voting can be done online, by email or post, or by attending the meeting.
1 May 2023: Registered Office and Phone NumberArrow Funds Management has moved its Melbourne head office to Level 47 (North Tower), 80 Collins Street, Melbourne, VIC 3000.
We have also changed our phone number to 1800 849 167
Our preferred method of contact remains via email to enquiries@arrowfunds.com.au
21 April 2023: 31 March NAVThe Net Asset Value at 31 March 2023 was $1.2138 per unit. This represents a reduction of 2.03 cents from the 31-Dec-22 NAV which was primarily due to a reduction in value of the Fund's forward interest rate derivatives asset, marked to market at 31-Mar-2023. There were no reductions in the Fund's property valuations. Investors who have elected to participate in the Distribution Reinvestment Plan (DRP) will receive new units in the Fund on 28 April 2023, calculated at $1.2138 per unit. The new DRP units issued represent 44% (by value) of the total distribution amount payable.
11 April 2023: March Quarter distributionArrow directors have declared the third quarter's distribution for FY2023 on units held in the Arrow Primary Infrastructure Fund. The distribution will be 2.0 cents per unit (CPU) and will be paid on Friday 28 April 2023.
27 February 2023: Fund Update issued - Half-year Results
27 January 2023: 31 December NAVThe Net Asset Value at 31 December 2022 was $1.2341 per unit. Investors who have elected to participate in the Distribution Reinvestment Plan (DRP) will receive new units in the Fund on 31 January 2023, calculated at $1.2341 per unit. The new DRP units issued represent 44% (by value) of the total distribution amount payable.