AURORA ABSOLUTE RETURN FUND

AURORA ABSOLUTE RETURN FUND (ARSN 110 303 430)

Primary Securities Ltd was appointed responsible entity of the fund on 15 January 2019 at a meeting of unit holders to replace Aurora Funds Management Limited (AFML).

AFML then sued Primary and ASIC in the Supreme Court of NSW to set aside Primary’s appointment.

On 30 May 2019, Rees J found for AFML and Primary’s appointment was set aside.

Primary has appealed the decision of Rees J and the appeal was heard before the Full Court of the Supreme Court of NSW on 13 and 14 February 2020.  A decision is awaited.