Following the appointment of 360 Capital Group as the Responsible Entity of the Australian Enhanced Income Fund (ASX:AYF), the Group has moved quickly to rebrand the Fund.
The new Responsible Entity proposes to change the name of the Fund to be the "360 Capital Enhanced Income Fund" and has applied to ASIC to make that change. 360 Capital will seek to recapitalise the Fund to provide further growth and liquidity for members with timing expected in November 2020.
As previously outlined, 360 Capital Group will make a $0.15 special payment to unitholders who have remained within the Fund. The Fund (as at the change of responsible entity) had approximately $10m in cash following the sale by the outgoing responsible entity of all the investment assets held on balance sheet.
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