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 June 30, 2021 was an annual nominal rate of 0.00%.
−Removed: The following chart provides the daily rate paid by the Depository since June 30, 2016:
+Added: The interest rate in effect as of September 30, 2021 was an annual nominal rate of 0.00%.
+Added: The following chart provides the daily rate paid by the Depository since September 30, 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 June 30, 2021.
+Added: The Trust did not make any distributions during the quarter ended September 30, 2021.
Critical Accounting Policies
4 unchanged sentences
Results of Operations
−Removed: During the six months ended June 30, 2021, an additional 150,000 Shares were created in exchange for 14,935,112 Australian Dollars and 400,000 Shares were redeemed in exchange for 39,804,786 Australian Dollars.
+Added: During the nine months ended September 30, 2021, an additional 150,000 Shares were created in exchange for 14,935,112 Australian Dollars and 550,000 Shares were redeemed in exchange for 54,716,972 Australian Dollars.
In addition, 582,078 Australian Dollars were withdrawn to pay the portion of the Sponsor’s fee that exceeded interest earned.
−Removed: As of June 30, 2021, the number of Australian Dollars owned by the Trust was 179,045,809, resulting in a redeemable capital Share value of $134,374,488.
+Added: As of September 30, 2021, the number of Australian Dollars owned by the Trust was 163,959,512, resulting in a redeemable capital Share value of $118,397,261.
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.
1 unchanged sentence
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: A decrease in the Trust’s redeemable capital Share value from $157,611,098 at December 31, 2020 to $134,374,488 at June 30, 2021, was primarily the result of a decrease in the number of Shares outstanding from 2,050,000 at December 31, 2020 to 1,800,000 at June 30, 2021, coupled with a decrease in the Closing Spot Rate from 0.7717 at December 31, 2020 to 0.7508 at June 30, 2021.
−Removed: No interest income was earned during the three months ended June 30, 2021 and 2020 due to an annual nominal interest rate which remained at or below 0.00% through those periods, and interest income decreased from $ 84,292 for the six months ended June 30, 2020 to $ 0 for the six months ended June 30, 2021 , 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 decrease in the Trust’s redeemable capital Share value from $157,611,098 at December 31, 2020 to $118,397,261 at September 30, 2021, was primarily the result of a decrease in the number of Shares outstanding from 2,050,000 at December 31, 2020 to 1,650,000 at September 30, 2021, coupled with a decrease in the Closing Spot Rate from 0.7717 at December 31, 2020 to 0.7224 at September 30, 2021.
+Added: No interest income was earned during the three months ended September 30, 2021 and 2020 due to an annual nominal interest rate which remained at or below 0.00% through those periods, and interest income decreased from $ 84,292 for the nine months ended September 30, 2020 to $ 0 for the nine months ended September 30, 2021 , 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.
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 $83,620 for the three months ended June 30, 2020 to $147,612 for the three months ended June 30, 2021, and increased from $168,820 for the six months ended June 30, 2020 to $304,950 for the six months ended June 30, 2021.
−Removed: Because the annual interest rate paid by the Depository fell briefly below 0.00% during the six months ended June 30, 2020 (as set forth in the chart above), the Trust incurred interest expense on currency deposits.
−Removed: Due primarily to an increase in the interest rate (from a negative rate to 0.00%), interest expense on currency deposits decreased from $4,050 for the three months ended June 30, 2020 to $0 for the three months ended June 30, 2021, and decreased from $18,141 for the six months ended June 30, 2020 to $0 for the six months ended June 30, 2021.
−Removed: The only expense of the Trust during the three and six months ended June 30, 2021 was the Sponsor’s fee.
−Removed: The only expenses of the Trust during the three and six months ended June 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 June 30, 2021 was $(147,612) due to the Sponsor’s fee of $147,612 exceeding interest income of $0.
−Removed: The Trust’s net comprehensive income (loss) for the three months ended June 30, 2020 was $(87,670) due to the Sponsor’s fee of $83,620 and interest expense on currency deposits of $4,050 exceeding interest income of $0.
−Removed: The Trust’s net comprehensive income (loss) for the six months ended June 30, 2021 was $(304,950) due to the Sponsor’s fee of $304,950 exceeding interest income of $0.
−Removed: The Trust’s net comprehensive income (loss) for the six months ended June 30, 2020 was $(102,669) due to the Sponsor’s fee of $168,820 and interest expense on currency deposits of $18,141 exceeding interest income of $84,292.
−Removed: Cash dividends were not paid by the Trust for the three months ended June 30, 2021 and 2020, and decreased from $0.02 per Share for the six months ended June 30, 2020 to $0.00 per Share for the six months ended June 30, 2021.
+Added: Due primarily to a decrease in the weighted-average Australian Dollars in the Trust, the Sponsor’s fee decreased from $137,269 for the three months ended September 30, 2020 to $124,292 for the three months ended September 30, 2021.
+Added: Due primarily to an increase in the weighted-average Australian Dollars in the Trust, the Sponsor’s fee increased from $306,089 for the nine months ended September 30, 2020 to $429,242 for the nine months ended September 30, 2021.
+Added: Because the annual interest rate paid by the Depository fell briefly below 0.00% during the nine months ended September 30, 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 $18,141 for the nine months ended September 30, 2020 to $0 for the nine months ended September 30, 2021.
+Added: The only expense of the Trust during the three and nine months ended September 30, 2021 and the three months ended September 30, 2020 was the Sponsor’s fee.
+Added: 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.
+Added: The Trust’s net comprehensive income (loss) for the three months ended September 30, 2021 was $(124,292) due to the Sponsor’s fee of $124,292 exceeding interest income of $0.
+Added: 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.
+Added: The Trust’s net comprehensive income (loss) for the nine months ended September 30, 2021 was $(429,242) due to the Sponsor’s fee of $429,242 exceeding interest income of $0.
+Added: 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.
+Added: Cash dividends were not paid by the Trust for the three months ended September 30, 2021 and 2020, and decreased from $0.02 per Share for the nine months ended September 30, 2020 to $0.00 per Share for the nine months ended September 30, 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.