What is the current status of the Funds?

We closed the Funds on 17 October 2011 so we can return capital to investors as soon as possible.

As a result, the Funds no longer accept applications or re-investment of distributions and there is no quarterly withdrawal process.

Will I still receive income?

The Funds will continue to pay income monthly. All investors will receive income payments each month based on the Funds earnings. While the assets in the Funds continue to generate income, you will continue to receive monthly income payments.

As assets in the Funds mature and we pay back capital, your account balance will reduce and your monthly income will be based on this lower balance.

How are we returning capital?

We made the first return of capital payments to investors in early March 2012, representing 33% of investors' capital for the Funds. We expect to be able to return more of investors' capital in September 2012, with further capital repayments every six months until all the Funds' mortgage loan assets and other securities mature. Investors will receive a withdrawal statement for each return of capital payment.  

How will income and capital payments be paid?

Income and capital payments will be paid to your nominated bank account.

As income can no longer be reinvested, all income payments will be paid to you. If you have not provided us with your bank account details for the purposes of receiving an income payment, please complete the account details and instructions form.

How do I update my account details and instructions?

If we do not currently have your bank account details or you would like to update your payment instructions please complete and return the account details and instructions form.

How are the Funds invested?

The Funds invest in cash, fixed income and mortgage investments, managed by our specialist mortgage investment team. We will continue to manage and review the funds' assets to return capital to investors as soon as possible.

Information on fund performance

Monthly Income Fund

Perpetual Wholesale Monthly Income Fund

Information on the funds' cash, fixed income and mortgage investments (including ASIC benchmarks.)

What statements will I receive?  

You will receive quarterly income statements, as well as a withdrawal statement for each return of capital payment.

At the end of each financial year you will receive an anual statement and tax statement. Fund annual reports providing detailed financial accounts will be available at the end of each financial year.

Do I have to show the return of capital in my income tax return?

For tax purposes, a return of capital is similar to a withdrawal from the Fund. A return of capital may result in a capital gain or loss for you, which may need to be included in your tax return. After the end of the financial year you wll be sent a tax statement and guide to completing your tax return. As individual circumstances differ, we recommend you speak to your tax adviser.

Will I be able to withdraw my investment under Financial Hardship?

Your claim will be paid if you meet the eligibility criteria for financial hardship as described below:

Hardship criteria

• severe financial hardship
• unemployed for at least three months
• medical costs
• accommodation or transport modifications
• funeral and related expenses
• care for the terminally ill
• home mortgage foreclosure
• binding financial obligation made prior to suspension
• permanent incapacity
• other compassionate grounds
• investor is deceased and beneficiary of the estate is suffering from one of the above grounds of hardship

The specific criteria to meet these grounds of hardship are detailed in the statutory declaration that you will need to complete and submit together with relevant supporting documentation. To make a claim you must have exhausted all other means of accessing funds to meet your needs including, realising other liquid assets, applying for financial hardship through your superannuation fund and applying to Centrelink for assistance. Our handling of your personal information will be administered in accordance with our Privacy Policy.

Further information

We will continue to update this page on the status of the Funds. If you have any questions please email investments@perpetual.com.au or phone us on 1800 093 068 during business hours (Sydney time).

This information has been prepared by Perpetual Investment Management Limited (PIML) ABN 18 000 866 535, AFSL 234426. It is general information only and is not intended to provide you with financial advice or take into account your objectives, financial situation or needs. You should consider, with a financial adviser, whether the information is suitable for your circumstances. To the extent permitted by law, no liability is accepted for any loss or damage as a result of any reliance on this information. No company in the Perpetual Group (Perpetual Limited ABN 86 000 431 827 and its subsidiaries) guarantees the performance of the Fund or the return of an investor’s capital. An investment in the Fund is not a bank deposit, nor is it a liability of the Perpetual Group. It is subject to investment risk, including loss of some or all of an investor’s principal investment and lower than expected returns.