The Australian Chamber Orchestra Instrument Fund is a world first. It was created in 2011 to purchase high-quality stringed instruments which are lent to the Australian Chamber Orchestra (ACO) for use by its players. The Fund is a unit trust, with some units owned by the ACO and others by wholesale investors. The Fund owns Australia’s only Stradivarius violin, purchased in 2011 for $1.79 million, and a 1714 Joseph Guarneri filius Andreae violin, purchased in 2014 for $1.65 million. Unit-holders have experienced increases in the unit price in 2013, 2014 and 2015.
Australian Chamber Orchestra Instrument Fund
To purchase high-quality stringed instruments for ACO players’ use, and to achieve long term capital gain for investors.
Instruments are used by the ACO both domestically and internationally in regular concert Scale of impact programs. Students and audiences in metropolitan and remote regional areas have access to
the highest quality sound via the ACO’s Regional Touring and National Education Programs.
The Fund was established in 2011. The Fund purchased its 1728/29 Stradivarius violin the same year, and a 1714 Joseph Guarneri filius Andreae violin in 2014.
Private wholesale investors and the ACO.
Australian Chamber Orchestra Instrument Fund.
- Cornerstone investment by the ACO with some units retained by it on behalf of donors, and remaining units available for sale to private wholesale investors (minimum investment of $50,000)
- New units are issued for the purchase of each new instrument.
- The investment objective is to achieve long term capital gains for investors.
- The Fund will be terminated after 10 years (in 2021) or at 5 year intervals subsequently, unless 51% of unitholders (excluding the ACO) vote to continue the Fund at specially convened meetings.
- JBWere Ltd is the Australian Financial Services Licence holder
Impact fund Investment
The idea for a Fund originated from within the ACO.
The Fund’s instruments contribute to Australia’s cultural landscape, providing thousands of people with the opportunity to attend performances enhanced by these instruments, helping to support the future of music in Australia. The instruments enhance the reputation of the ACO so it can attract the highest calibre of musicians from all over the world. The instruments are also played as part of the ACO’s National Education Program which educates and inspires students and teachers at every level of the educational system across regional and metropolitan Australia.
Units in the Fund have gained 40% in value since the Fund’s launch in 2011, from $1.00 a unit Financial return to $1.40 (31 March 2015). Instruments are formally re-valued at least every 3 years with informal valuations occurring at least every 2 years.
The Fund hopes to purchase additional instruments in the future.