Key Takeaways
- • Alternative Investment Trust (AIQ) repurchased 19,259 ordinary units on 16 July 2026 at a total consideration of AUD 27,540.37, representing an average cost of approximately AUD 1.43 per unit under its ongoing on-market buy-back program.
- • Cumulative buy-back activity since program inception in September 2022 totals 3,024,724 units acquired for AUD 3,560,168.59, demonstrating sustained capital management execution over a nearly four-year period.
- • The trust has 122,209 units remaining under its maximum buy-back authorization as of 16 July 2026, with the program scheduled to conclude on 4 September 2026.
- • Koda Capital, executing through Openmarkets, manages the buy-back operations on behalf of AIQ, ensuring systematic execution aligned with the trust's capital optimization strategy.
- • The on-market buy-back strategy reflects AIQ's commitment to enhancing unitholder value through opportunistic capital deployment and improved capital efficiency of the investment vehicle.
Summary
Alternative Investment Trust (AIQ), a listed investment trust on the Australian Securities Exchange, continues executing its on-market unit buy-back program as a core element of its capital management strategy. On 16 July 2026, the trust acquired 19,259 ordinary fully paid units at a total consideration of AUD 27,540.37, representing consistent progress within the established authorization parameters.
Since the buy-back program's commencement in September 2022, AIQ has cumulatively repurchased 3,024,724 units for total consideration of AUD 3,560,168.59. This sustained repurchase activity—spanning nearly four years—demonstrates the trust's disciplined approach to managing its capital structure and optimizing returns for remaining unitholders. The average cost per unit acquired on 16 July 2026 was approximately AUD 1.43, reflecting prevailing market valuations at the time of repurchase.
As of the end of 16 July 2026, the trust retained buying capacity of 122,209 units under its maximum authorization limit, with the program set to expire on 4 September 2026. Koda Capital, operating through Openmarkets, serves as the executing broker managing daily buy-back transactions on AIQ's behalf, ensuring systematic and compliant execution throughout the authorization period.
The buy-back program exemplifies a strategic capital management approach designed to increase the net asset value per unit for remaining investors by reducing the overall unit count while maintaining the underlying portfolio base. This mechanism allows AIQ to return capital to the market during periods when unit valuations present attractive opportunities relative to underlying net asset value, thereby enhancing long-term unitholder value within the alternative investment trust structure.
Since the buy-back program's commencement in September 2022, AIQ has cumulatively repurchased 3,024,724 units for total consideration of AUD 3,560,168.59. This sustained repurchase activity—spanning nearly four years—demonstrates the trust's disciplined approach to managing its capital structure and optimizing returns for remaining unitholders. The average cost per unit acquired on 16 July 2026 was approximately AUD 1.43, reflecting prevailing market valuations at the time of repurchase.
As of the end of 16 July 2026, the trust retained buying capacity of 122,209 units under its maximum authorization limit, with the program set to expire on 4 September 2026. Koda Capital, operating through Openmarkets, serves as the executing broker managing daily buy-back transactions on AIQ's behalf, ensuring systematic and compliant execution throughout the authorization period.
The buy-back program exemplifies a strategic capital management approach designed to increase the net asset value per unit for remaining investors by reducing the overall unit count while maintaining the underlying portfolio base. This mechanism allows AIQ to return capital to the market during periods when unit valuations present attractive opportunities relative to underlying net asset value, thereby enhancing long-term unitholder value within the alternative investment trust structure.
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