44 unchanged sentences
Interest on the primary deposit account, if any, accrues daily and is paid monthly.
−Removed: The interest rate in effect as of September 30, 2020 was an annual nominal rate of 0.00%.
−Removed: The following chart provides the daily rate paid by the Depository since September 30, 2015:
+Added: The interest rate in effect as of March 31, 2021 was an annual nominal rate of 0.00%.
+Added: The following chart provides the daily rate paid by the Depository since March 31, 2016:
In exchange for a fee, the Sponsor bears most of the expenses incurred by the Trust.
2 unchanged sentences
When the interest deposited, if any, exceeds the sum of the Sponsor’s fee for the prior month plus other Trust expenses, if any, the Trustee converts the excess into USD at the prevailing market rate and distributes the USD as promptly as practicable to Shareholders on a pro-rata basis (in accordance with the number of Shares that they own).
−Removed: The Trust did not make any distributions during the quarter ended September 30, 2020.
+Added: The Trust did not make any distributions during the quarter ended March 31, 2021.
Critical Accounting Policies
4 unchanged sentences
Results of Operations
−Removed: During the nine months ended September 30, 2020, an additional 1,100,000 Shares were created in exchange for 109,790,595 Australian Dollars and 250,000 Shares were redeemed in exchange for 24,964,357 Australian Dollars.
+Added: During the three months ended March 31, 2021, an additional 150,000 Shares were created in exchange for 14,935,112 Australian Dollars and 100,000 Shares were redeemed in exchange for 9,956,467 Australian Dollars.
In addition, 203,469 Australian Dollars were withdrawn to pay the portion of the Sponsor’s fee that exceeded interest earned.
−Removed: As of September 30, 2020, the number of Australian Dollars owned by the Trust was 214,504,742, resulting in a redeemable capital Share value of $153,693,838.
+Added: As of March 31, 2021, the number of Australian Dollars owned by the Trust was 209,098,626, resulting in a redeemable capital Share value of $159,205,417.
During the year ended December 31, 2020, an additional 1,150,000 Shares were created in exchange for 114,776,341 Australian Dollars and 400,000 Shares were redeemed in exchange for 39,913,155 Australian Dollars.
−Removed: In addition, 11,848 Australian Dollars were withdrawn to pay the portion of the Sponsor’s fee that exceeded interest earned.
+Added: In addition, 529,228 Australian Dollars were withdrawn to pay the Sponsor’s fee and the interest expense on currency deposits, due to the negative interest rate.
As of December 31, 2020, the number of Australian Dollars owned by the Trust was 204,323,450, resulting in a redeemable capital Share value of $157,611,098.
−Removed: An increase in the Trust’s redeemable capital Share value from $91,378,070 at December 31, 2019 to $153,693,838 at September 30, 2020, was primarily the result of an increase in the number of Shares outstanding from 1,300,000 at December 31, 2019 to 2,150,000 at September 30, 2020, coupled with a an increase in the Closing Spot Rate from 0.7029 at December 31, 2019 to 0.7167 at September 30, 2020.
−Removed: Interest income decreased from $ 133,342 for the three months ended September 30, 2019 to $ 0 for the three months ended September 30, 2020 , and decreased from $ 779,118 for the nine months ended September 30, 2019 to $ 84,292 for the nine months ended September 30, 2020 , attributable primaril y to a de crease in the annual nominal interest rate paid by the Depository, as set forth in the FXA Daily Rate chart above.
+Added: A n increase in the Trust’s redeemable capital Share value from $ 157,611,098 at December 31, 2020 to $ 159,205,417 at March 31, 2021 , was primarily the result of an increase in the number of Shares outstanding from 2,050,000 at December 31, 2020 to 2,100,000 at March 31, 2021 , partially offset by a decrease in the Closing Spot Rate from 0.7717 at December 31, 2020 to 0.7617 at March 31, 2021 .
+Added: Interest income decreased from $84,292 for the three months ended March 31, 2020 to $0 for the three months ended March 31, 2021, attributable primarily to a decrease in the annual nominal interest rate paid by the Depository, as set forth in the FXA Daily Rate chart above.
The Sponsor’s fee accrues daily at an annual nominal rate of 0.40% of the Australian Dollars in the Trust.
−Removed: Due primarily to an increase in the weighted-average Australian Dollars in the Trust, the Sponsor’s fee increased from $100,254 for the three months ended September 30, 2019 to $137,269 for the three months ended September 30, 2020.
−Removed: Due primarily to a decrease in the weighted-average Australian Dollars in the Trust, the Sponsor’s fee decreased from $312,965 for the nine months ended September 30, 2019 to $306,089 for the nine months ended September 30, 2020.
−Removed: Because the annual interest rate paid by the Depository fell briefly below 0% and remained at 0% during the nine months ended September 30, 2020 (as set forth in the chart above), the Trust incurred interest expense on currency deposits.
−Removed: Due primarily to a decline in the interest rate (below 0.00%), interest expense on currency deposits increased from $0 for the nine months ended September 30, 2019 to $18,141 for the nine months ended September 30, 2020.
−Removed: The only expense of the Trust during the three months ended September 30, 2020 and three and nine months ended September 30, 2019 was the Sponsor’s fee.
−Removed: The only expenses of the Trust during the nine months ended September 30, 2020 were the Sponsor’s fee and interest expense on currency deposits.
−Removed: The Trust’s net comprehensive income (loss) for the three months ended September 30, 2020 was $(137,269) due to the Sponsor’s fee of $137,269 exceeding interest income of $0.
−Removed: The Trust’s net comprehensive income (loss) for the three months ended September 30, 2019 was $33,088 due to interest income of $133,342 exceeding the Sponsor’s fee of $100,254.
−Removed: The Trust’s net comprehensive income (loss) for the nine months ended September 30, 2020 was $(239,938) due to the Sponsor’s fee of $306,089 and interest expense on currency deposits of $18,141 exceeding interest income of $84,292.
−Removed: The Trust’s net comprehensive income (loss) for the nine months ended September 30, 2019 was $466,153 due to interest income of $779,118 exceeding the Sponsor’s fee of $312,965.
−Removed: Cash dividends per Share decreased from $0.05 per Share for the three months ended September 30, 2019 to $0.00 per Share for the three months ended September 30, 2020, and decreased from $0.38 per Share for the nine months ended September 30, 2019 to $0.02 per Share for the nine months ended September 30, 2020.
+Added: Due primarily to an increase in the weighted-average Australian Dollars in the Trust, the Sponsor’s fee increased from $85,200 for the three months ended March 31, 2020 to $157,338 for the three months ended March 31, 2021.
+Added: Because the annual interest rate paid by the Depository fell briefly below 0.00% during the three months ended March 31, 2020 (as set forth in the chart above), the Trust incurred interest expense on currency deposits.
+Added: Due primarily to an increase in the interest rate (from a negative rate to 0.00%), interest expense on currency deposits decreased from $14,091 for the three months ended March 31, 2020 to $0 for the three months ended March 31, 2021.
+Added: The only expense of the Trust during the three months ended March 31, 2021 was the Sponsor’s fee.
+Added: The only expenses of the Trust during the three months ended March 31, 2020 were the Sponsor’s fee and interest expense on currency deposits.
+Added: The Trust’s net comprehensive income (loss) for the three months ended March 31, 2021 was $(157,338) due to the Sponsor’s fee of $157,338 exceeding interest income of $0.
+Added: The Trust’s net comprehensive income (loss) for the three months ended March 31, 2020 was $(14,999) due to the Sponsor’s fee of $85,200 and interest expense on currency deposits of $14,091 exceeding interest income of $84,292.
+Added: Cash dividends per Share decreased from $0.02 per Share for the three months ended March 31, 2020 to $0.00 per Share for the three months ended March 31, 2021.
The decrease in cash dividends per Share was primarily due to a decrease in the annual nominal interest rate paid by the Depository.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.