Nanuk New World Fund (NNUK) H2 2024 earnings summary

Executive summary

• Invests in a diversified portfolio of listed global equities focused on resource scarcity and environmental sustainability, with ESG integration and Responsible Investment certification.

• Two unit classes: unhedged (ASX: NNUK) and currency hedged (Class H), with the latter introduced in May 2023.

• No significant changes in activities or state of affairs during the year; no employees.

Financial highlights

• Profit before finance costs attributable to unitholders: $154.4m for FY2024, up from $103.8m in FY2023.

• Total income: $164.7m (FY2024) vs $113.2m (FY2023).

• Management fees and costs: $8.4m (FY2024) vs $7.2m (FY2023).

• Net assets attributable to unitholders: $788.7m as of 30 June 2024, up from $711.4m.

• Distributions: $72.4m (Class A, 0.19 CPU), $7.6m (Class H, 0.15 CPU) for FY2024.

• Fund performance: 21.7% (unhedged), 23.9% (hedged) for the year ended 30 June 2024.

Outlook and guidance

• Fund will continue to be managed according to its investment objectives and guidelines.

• Future results will depend on investment market performance; past returns are not indicative of future performance.