WealthFocus Wholesale Super Plan Update

The underlying fund has enhanced its ethical exclusions and SRI screening process by:
- adding in additional categories of investments to be excluded;
- broadening the definition of negative corporate goverance behaviour for SRI screening; and
- disclosing that derivative counterparties are now subject to eithical exclusions and SRI screening.

Refer to the Investment Book page 25 & 26.

The word "ethical' has been added to the Objective section of the Perpetual Ethical SRI Investment Option Profile. This should now read:
Aims to provide long-term capital growth and regular income through investment in quality shares of ethical and socially responsible companies. The fund aims to outperform the S&P/ASX300 Accumulation Index (before fees and taxes) over rolling three-year periods.

Refer to PDS Investment Book dated 1 May 2017 page 12 and Investment Book pages 25 & 26.

See letter attached

The investment guidelines for the Perpetual Diversified Income Investment Option has been updated:
Old - Cash and investment grade securities (0-100%)
New - Cash and investment grade securities (75-100%)

The investment guidelines for the Perpetual Dynamic Fixed Income Investment Option has been updated:
Old - Cash and investment grade securities (0-100%)
New - Cash and investment grade securities (75-100%)

Refer to PDS Investment Book dated 1 May 2017 page 6.

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BT Property Securities Investment Option - The underlying fund, BT Wholesale Property Securities Fund, has changed its name to Pendal Property Securities Fund.

BT Australian Share Investment Option - The underlying fund, BT Wholesale Australian Share Fund, has changed its name to Pendal Australian Equity Fund.

BT International Share Investment Option - The underlying fund, BT Wholesale International Share Fund, has changed its name to Pendal International Share Fund.

The name changes to the investment options and underlying funds will be updated in the next issue of the PDS.

Refer to PDS Part 2 - Investment Book dated 1 May 2017 pages 3, 8, 9 & 15 respectively and Features Book dated 1 May 2017 pages 14 , 15, 43 & 44.

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The investment manager BT Investment Management (Institutional) Limited, has had a change of name to Pendal Institutional Limited.

Refer to PDS Part 2 - Investment Book dated 1 May 2017 pages 8, 9 & 15 and Perpetual WealthFocus Investment Manager Information flyer page 2.

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PDS Update: Fees and Costs information

An error was made in the 'Estimated Other Indirect Costs' and 'Estimated Total Annual Cost' for Vanguard International Shares Index investment option. Please refer to the attached flyer for updated costs. 

The information in the PDS Part 1 (Features Book) on Fees and other costs is replaced by the information in the attached flyer.

Refer to the attached flyer for full details on fees and costs read the PDS together with this update. 

PDS Update: Fees and Costs information

In this update we replace information in the PDS on fees and costs to:

• Consolidate the prior fee update on 3 July 2017 and 31 August 2017, and updated the estimated indirect cost ratio Generally the fees and costs information has been updated due to movements in indirect costs.

The information in the PDS Part 1 (Features Book) on Fees and other costs is replaced by the information in the attached flyer.

Refer to the attached flyer for full details on fees and costs read the PDS together with this update. 

Fees and Costs – Figures for FY 2017

The Fees and Costs for the Investment Option/s including estimated indirect costs, for the year ended 30 June 2017 is attached.

This is additional information to help members understand fees and costs on a year by year basis.

This information does not update the PDS.  

See flyer attached

PDS Update: Transaction Cost document updated

This incorporated document has been replaced with 30 June 2017 information now available.

See flyer attached

View letters:

• van Eyk Blueprint High Growth

• van Eyk Blueprint Balanced

• van Eyk Blueprint Capital Stable

This will impact existing WealthFocus BlackRock Global Small Cap members. The option is closed to applications and withdrawals effective immediately. We will write to existing  members setting out their options shortly.

Refer to PDS Part 2 - Investment Book dated 17 April 2015. Investment Options profiles from page 5-26.

Some of the investment options offered on WealthFocus will be closing in February 2017. Investors in these options are able to give instructions on what they’d like done with their holdings in these options either by:

• completing and returning a switch form or
• making a switch request online by using online account access.

Existing investors in these options have until 3pm on 9 February 2017 to give instructions. If we don’t hear from them the default choices outlined in our letter sent in October will apply.

The Responsible Entity / Trustee have decided to close ten investment options to new investors from 4 October 2016. These closed options will then be removed from the WealthFocus investment menu on 10 February 2017.

The closing investment options are:

• Arnhem Australian Equity
• BlackRock Monthly Income
• BlackRock Scientific Australian Equity
• Colonial First State Equity Income
• Goldman Sachs Australian Infrastructure and Property Equity
• Ibbotson Australian Shares Active
• Ironbark Global Property Securities
• Maple-Brown Abbott Australian Share
• OnePath Tax Effective Income
• Zurich Investments Global Thematic Share

Any investments remaining in the closed options after 9 February 2017 will be invested or returned to relevant investors as notified to them.

View Letter

Refer attached flyer

Refer attached flyer

Refer attached flyer

Refer attached flyer

Refer attached flyer

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Refer attached flyer.

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The Perpetual Industrial Share Investment Option changes include: 

1. Investment Objectives 

Replace as follows: 

Aims to provide long-term capital growth and regular income through investment in quality industrial shares. The fund aims to outperform the S&P/ASX 300 Industrials Accumulation Index (before fees and taxes) over rolling three-year periods. 

2. Investment Guidelines 

Replace as follows: 

Industrial Shares* 90-100% Cash 0-10% *The underlying fund invests primarily in shares listed on or proposed to be listed on any recognised Australian exchange but may have up to 10% exposure to shares listed on or proposed to be listed on any recognised global exchange. Currency hedges may be used from time to time.

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Goldman Sachs Australian Infrastructure Investment Option name change to Goldman Sachs Australian Infrastructure & Property Equity Investment Option.

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Ibbotson Growth Investment Option is closed to all new members effective 29 February 2016 until further notice.

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For Ibbotson Growth, under "Investment approach" the stated long term average exposure of 50% to growth assets and 50% to income assets respectively is replaced as follows: "An actively managed diversified trust with a long term average exposure of around 70% to growth assets such as shares, property and alternative investments and around 30% exposure to income assets such as cash and fixed interest. The trust will be invested dynamically across managed funds, direct securities, exchange traded funds, foreign exchange contracts and/or derivatives. The trust aims to deliver real returns whilst preserving capital over the targeted investment horizon".

TBA

Correction to investment guidelines

The investment guideline for Cash is 10-70%

Change to the Australian Unity Mortgage Income investment option unit price.

Change of investment guidelines for BlackRock Balanced Investment Option.

Change of an index performance benchmark for BlackRock Balanced Investment Option.

• van Eyk Blueprint High Growth
• van Eyk Blueprint Balanced
• van Eyk Blueprint Capital Stable

• van Eyk Blueprint High Growth
• van Eyk Blueprint Balanced
• van Eyk Blueprint Capital Stable

• Alphinity Australian Share
• AMP Capital Sustainable Share
• CFS Balanced
• Ibbotson International Shares Active (Unhedged)
• Ironbark GTP Global Equity Thematic
• Premium China
• Schroder Global Emerging Markets
• Templeton Global Equity

• Change to investment manager
• Change to investment strategy
• Change to name
• Notification of reduction in management fee and introduction of performance fee from 17 April 2015

Termination of the Howard Mortgage Investment Option

On 5 November 2014 the Howard Mortgage Investment Option was terminated.

Change in benchmark names

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Following the sale of UBS’s bond index business to Bloomberg, the following indexes are being renamed:

UBS Bank Bill Index to Bloomberg AusBond Bank Bill Index

UBS Composite Bond Index to Bloomberg AusBond Composite Index

Included as part of the new Product Disclosure Statement issue date 1 July 2014.

1. DWS Global Equity Thematic change to Ironbark GTP Global Equity Thematic

2. RREEF Global Property Securities to Ironbark Global Property Securities

If you hold the Premium China investment option on 1 July 2014 these limits will not apply to you. However, if you exit this investment option completely the appropriate allocation limits and requirements for auto-rebalancing will be applied to any future investment in this option made after 1 July 2014.

 Premium China limits letter