Continuous Disclosure and Important Information
PRODUCT DISCLOSURE STATEMENT (PDS)
The Perpetual Pure Equity Alpha Fund Product Disclosure Statement issue number 2 dated 31 January 2014, as amended by Supplementary Product Disclosure Statement issue number 1 dated 27 March 2015 contains detailed information about the Perpetual Pure Equity Alpha Fund (Fund) including the benefits, risks, fees and charges.
The PDS contains detailed information about the Perpetual Pure Equity Alpha Fund (Fund) including the benefits, risks, fees and charges.
Product Information Incorporated by Reference
The PDS refers to other information relevant to the product. This information is ‘incorporated by reference’ and forms part of the PDS. It should be read together with the main PDS document above.
The current buy/sell spread is 0.20%/0.20%.
Direct debit request service agreement which must be read prior to completing direct debit authorisation.
We may update the PDS with changes that are not materially adverse via disclosure on our website. Any updates should be read together with the main PDS document above.
In relation to the PDS, the following continuous disclosure items apply;
Investment Guidelines change
Effective 27 March 2015 the Fund’s investment guidelines have been modified. The investment range for gross share exposure is now 0-220% and cash is now 0-120%. Previously the guidelines for gross share exposure were 0-200% and cash 0-100%. The investment range for net global share exposure of -10-20% has been clarified as sub component of the net share exposure of-20-100%.
Key features relating to the fund – Monthly updates
Effective 27 March 2015 the monthly updates which will be available at our website on "the Fund's long, short and net positions" has been changed to "the Fund's long, short and net position percentages".
Removal of Performance fee reset
Effective 27 August 2014, on page 9, the final paragraph is no longer applicable. The constitution has been changed to remove the ability to reset the accrual of the performance fee at the start of a performance fee period.
Correction to the Example of annual fees and costs table
On page 12, in the table ‘‘Example of annual fees and costs’’ there is a typographical error in the management cost stated. The figure of 2.34% is incorrect and should be 1.28%. Please note that the example management cost on $50,000 invested of $640 is correct.
Approved counterparties for over-the-counter derivatives
The following counterparties are currently approved by Perpetual for any over-the-counter derivatives used in managing the Fund:
- Commonwealth Bank of Australia (CBA)
- National Australia Bank Limited (NAB)
- Australia and New Zealand Banking Group Limited (ANZ)
- Westpac Banking Corporation (Westpac)
- Macquarie Bank Limited (Macquarie)
- UBS AG (UBS)
- State Street Bank and Trust Company (State Street)."
Standard Risk Measure
The Standard Risk Measure (SRM) for Funds may change over time for various reasons, including as a result of reviews of the underlying capital market assumptions that are used in their calculation and future changes to asset allocations by the investment manager.
Effective 1 July 2014, the SRM has changed, following an annual review.
|Previous SRM||New SRM|