Income from the Third Link Growth Fund is generally distributed to investors every six months, at the end of December and June, with the payment for December expected to be made within the first three weeks of January and the payment for June expected within the first three weeks of August.

Your distribution amount is calculated by dividing the total amount of the distribution by the total number of units on issue at the distribution date, and multiplying the result by the number of units held by you on that date.

The amount per unit distributed from the Fund since its inception are listed below:
 

Date

Income Distribution Per Unit 1

31 December 2016

$0.0200

30 June 2016

$0.0579

31 December 2015

$0.0200

30 June 2015

$0.0854

31 December 2014

$0.0200

30 June 2014

$0.0791

31 December 2013 

$0.0200

30 June 2013 

$0.0675

31 December 2012

$0.0150

30 June 2012

$0.0205

31 December 2011

$0.0150

30 June 2011

$0.0329

31 December 2010

$0.0150

30 June 2010

$0.0149

31 December 2009

$0.0150

30 June 2009

$0.0196

31 December 2008

$0.0150

30 June 2008

$0.0062

1 The actual figure is calculated to eight decimal places.  For simplicity, we have only shown the figures below to four decimal places, rounded down.

 

Immediately after a distribution is declared, the unit price of the Fund will fall by the amount of the distribution. This is because the distribution reduces the Fund’s assets. Distributions are not pro-rated for investors who were not unitholders for the whole period, meaning that you may receive some of your investment back immediately as income if you invest just before a distribution. Conversely, if you withdraw from the Fund just before a distribution, you might in effect turn income into a capital gain.

You may elect to have your distributions from the Fund treated in either of two ways:

  • reinvested in further units in the Fund; or
  • paid to you by direct credit to your nominated Australian bank account.

You make the choice on the application form but if no election is made your distribution will be reinvested in further units in the Fund.  Any change to distribution instructions should be advised to RBC Investor Services at least 10 business days before the end of the relevant distribution period.

The distribution you receive (whether reinvested in further units or credited to your bank account) will comprise various types of income depending on the type of investments the Fund holds. The components of the distribution for the last 4 financial years have been as follows (per $100 of distribution):
 

 

Year ended 30 June 2013 

Year ended 30 June 2014 

Year ended 30 June 2015 

Year ended 30 June 2016

Franked Dividends

$ 12.73

 $ 11.76

$ 11.17

$ 14.64

Unfranked Dividends

$   1.60

 $   2.21

$   2.83

  $   4.49

Interest

$   2.69

 $   2.58

$   2.17

$   3.38

Other Australian Income

$ 20.37

 $ 16.97

$ 13.48

$ 11.61

Foreign Sourced Income

$   0.44

 $   2.34

$   1.51

$   3.03

Capital Gains

$ 51.26

$ 63.07

$ 68.00

$ 61.05

Tax Deferred Amount

$ 10.87

 $  1.07

$   0.84

$   1.80

Tax Free Amount

$  0.05

$  0.01

$  0.00

$   0.00
 

$ 100.00

 $ 100.00

$ 100.00

$ 100.00

Franking Credits

 $ 12.72

 $ 10.17

$  9.61

$ 13.06

Foreign Tax Credits

 $   0.30

 $  0.22

$  0.55

$  0.85

 


 

The split of the yearly returns from the Fund between income and growth (both realised and unrealised) has been as follows: 

 

Year ended 30 June 2013

Year ended 30 June 2014

Year ended 30 June 2015

Year ended 30 June 2016

Income

8.6%

 8.9%

8.7%

6.3%

Growth

15.7%

 9.5%

1.8%

7.9%

Total

24.3%

 18.4%

10.5%

14.2%

 

The ‘Income’ component has been calculated by dividing the total distributions paid by the Fund in respect of the particular financial year (including realised capital gains distributed) by the opening unit price at the start of that year.