NZX Australian 20 Leaders Index Fund reported preliminary earnings results for the year ended March 31, 2012. For the year, the company's total negative net revenue was NZD 14.0 million compared with total net revenue of NZD 7.2 million a year ago. Net loss before tax was NZD 14.7 million compared with net profit before tax of NZD 6.5 million a year ago. Net loss after tax was NZD 15.8 million compared with net profit after tax of NZD 5.4 million a year ago. Net cash flows from operating activities were NZD 3.3 million compared with NZD 3.2 million a year ago.