Wholesale Funds Updates
Product Disclosure
PRODUCT DISCLOSURE STATEMENT (PDS)
The following documents form part of the PDS:
Details of latest transaction costs and current buy/sell spreads for each Fund
Additional information about certain ‘complex’ funds
Perpetual Wholesale SHARE-PLUS Long-Short Fund
Perpetual Wholesale Diversified Real Return Fund
Updates to PDS
We may update the information in the PDS by issuing a supplementary PDS, which will be included with the PDS above (if applicable). We may update the PDS with changes that are not materially adverse via disclosure on our website. This information can be found in the section below. Any updates should be read together with the main PDS document above.
Other documents
Management costs for previous financial year ended 30 June 2020
Direct Debit Request Service Agreement
Full holdings disclosure for ‘ethical’ funds
Perpetual Wholesale Ethical SRI Fund
Perpetual Wholesale Ethical SRI Credit Fund
Continuous Disclosure and other important information
Updates and significant events
In this section, you can find updates to the PDS, significant events and continuous disclosure where we are required to provide you this information.
Any updates should be read together with the main PDS document above.
NOTICE DATE | SUMMARY OF EVENT | IMPACT | FURTHER INFORMATION |
---|---|---|---|
6 April 2021 |
Changes to Ethical Screening Process |
Effective 6 April 2021, the Ethical Screening Process has been updated for the Perpetual Wholesale Ethical SRI Fund and Perpetual Ethical SRI Credit Fund |
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1 April 2021 |
Changes to buy/sell spreads |
Effective 1 April 2021, the buy/sell spreads for some of the Multi Asset funds have changed. |
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18 December 2020 |
Changes to buy/sell spreads |
Effective 18 December 2020, the buy/sell spreads for the Fixed Income funds have changed. |
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1 December 2020 |
New PDS document issued |
Effective 1 December 2020, we have updated and issued a new Product Disclosure Statement issue number 13 (PDS) for the Wholesale Funds (collectively, the Funds). |
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10 November 2020 |
Reduction of the management fee for the Perpetual Global Innovation Share Fund (the “Fund”) |
Effective 1 December 2020, the management fee for the Fund will be reduced from 1.25% to 0.99%. |
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9 November 2020 |
Special Distribution: Perpetual Wholesale Concentrated Equity Fund (the “Fund”) |
The Perpetual Wholesale Concentrated Equity Fund is paying a Special Distribution, effective date 5 November 2020. As a result, there will be no Distribution as at 31st December 2020 for the Fund. |
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28 October 2020 |
Changes to Perpetual Wholesale Split Growth Fund (the “Fund”) |
From 1 December 2020, the investment strategy of the Fund will change. Changes will be made to the Fund’s:
The management fee will reduce from 1.16% to 0.55% from 1 December 2020. |
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8 October 2020 |
Marketing name change for the Perpetual High Grade Treasury Fund |
The marketing name of the Perpetual High Grade Treasury Fund will change to the Perpetual High Grade Floating Rate Fund from 1 December 2020. |
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28 September 2020 |
Perpetual Wholesale Global Share Fund (“Fund”): Transition update |
The transition of the Fund’s assets to Barrow, Hanley, Mewhinney & Strauss, LLC was completed on 9 September 2020. Details of the estimated transition costs incurred are available upon request. |
For information, please email investments@perpetual.com.au, or phone us on 1800 022 033. |
7 September 2020 |
PDS update: Changes to Perpetual Wholesale Global Share Fund (the “Fund”) |
PIML has appointed Barrow, Hanley, Mewhinney & Strauss, LLC (“Barrow Hanley”) as investment manager of the Fund and updated the investment strategy of the Fund. The buy/sell spread of the Fund will reduce with Barrow Hanley managing the Fund. Effective 1 October 2020, the management fee for the Fund will be reduced from 1.10% to 0.99%, and the performance fee will be removed. |
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7 September 2020 |
Closure of the Perpetual Wholesale Global Share Fund Hedged (the “Fund”) |
The Fund closed on 4 September 2020 (the “termination date”). Following the closure of the Fund, the wind up of the Fund will occur. It is anticipated that proceeds of the Fund will be distributed to investors within one week after the termination date, unless an investor has requested to switch their investment. |
N/A |
4 September 2020 |
PDS Update: Transaction Cost document updated |
This incorporated document has been replaced with 30 June 2020 information now available. |
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1 September 2020 |
Special Distribution: |
Distribution of income
|
See letter attached |
12 August 2020 |
Special Distribution: |
Distribution of capital
|
See letter attached |
27 July 2020 |
Closure notice - Perpetual Wholesale Global Share Fund Hedged (the “Fund”) |
Closure and winding up of the Fund.
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See letter attached |
27 July 2020 |
PDS update: Changes to Perpetual Wholesale Global Share Fund (the “Fund”) |
PIML intends to cease acting as the investment manager of the Fund and will appoint Barrow, Hanley, Mewhinney & Strauss, LLC as investment manager of the Fund. It is intended that with the appointment of Barrow Hanley, changes may be made to the Fund’s:
These changes are expected to occur by the end of September 2020, subject to the necessary documentation and other processes being in place. |
See letter attached |
27 July 2020 |
PDS update: Change to appointment of specialist investment managers |
In the PDS, delete each reference to “external specialist investment managers” where it appears and replace with “related or external specialist investment managers”. |
On 27 July 2020, Perpetual Limited announced to the ASX its intention to acquire a majority interest in Barrow, Hanley, Mewhinney & Strauss, LLC (“Barrow Hanley”), subject to obtaining necessary approvals. Barrow Hanley will become a related party of PIML, and part of the Perpetual Group, with the proposed acquisition. |
21 July 2020 |
Reduction of the management fee for several Wholesale Fixed Income Funds. Please refer to the flyer under further information for details on the fee reductions and the impacted funds. |
Effective 1 October 2020, the management fee for several Wholesale Fixed Income Funds have been reduced. |
See attached flyer |
10 July 2020 |
Changes to buy/sell spreads |
Effective 10 July 2020, the buy/sell spreads for the Fixed Income funds and Diversified funds have changed. |
See attached flyer |
3 July 2020 |
Changes to buy/sell spreads |
Effective 3 July 2020, the buy/sell spreads for the Fixed Income funds and Diversified funds have changed. |
See attached flyer |
29 June 2020 |
Standard Risk Measure (SRM) |
The SRMs for several Perpetual Wholesale Funds have been amended. |
See attached flyer |
19 June 2020 |
Changes to buy/sell spreads |
Effective 19 June 2020, the buy/sell spreads for the Fixed Income funds and Diversified funds have changed. |
See attached flyer |
29 May 2020 |
Changes to buy/sell spreads |
Effective 29 May 2020, the buy/sell spreads for the Fixed Income funds and Diversified funds have changed. |
See attached flyer |
8 May 2020 |
Changes to buy/sell spreads |
Effective 8 May 2020, the buy/sell spreads for the Fixed Income funds and Diversified funds have changed. |
See attached flyer |
24 April 2020 |
Changes to buy/sell spreads |
Effective 24 April 2020, the buy/sell spreads for the Fixed Income funds and Diversified funds have changed. |
See attached flyer |
27 March 2020 |
Changes to buy/sell spreads |
Effective 27 March, the buy/sell spreads for the Fixed Income funds and Diversified funds have changed. |
See attached flyer |
20 March 2020 |
Changes to buy/sell spreads |
Effective 20 March, the buy/sell spreads for the Fixed Income funds and Diversified funds have changed. |
See attached flyer |
25 November 2019 |
New PDS document issued. |
Updates to various disclosures. Amendments to the Fund profiles of particular funds. Updates to the Management Costs, Asset Class Classifications and additional Tax Information. |
See attached flyer |
8 November 2019 |
PDS Update: Accepting applications from new investors in the Perpetual Wholesale SHARE-PLUS Long-Short Fund |
Effective on and from 8 November 2019, we have opened the Perpetual Wholesale SHARE-PLUS Long-Short Fund to new investors. As such, the footnote on page 5 of the application form attached to the Perpetual Wholesale Funds PDS issue number 11 dated 1 June 2018 is deleted. |
Please contact us on 1800 022 033 for further information |
10 October 2019 |
PDS Update: Accepting changes to bank account details by email |
Effective from 10 October 2019, Perpetual Wholesale Funds will also accept changes to your bank account details by email. All changes to your bank account details must be made in writing. The instruction must be signed and sent to us by mail or scanned attachment to email. You are able to use the change of instructions form to make changes. |
N/A |
18 September 2019 | Incorrect ‘Portfolio Fundamentals’ Data on Fund Profiles |
The 'Portfolio Fundamentals' section of some Fund Profiles previously contained inaccurate figures for:
for the period of May 2018 – June 2019. The Portfolio Fundamentals are an estimate of forward-looking metrics. These figures are compiled by Perpetual for the purposes of providing additional information to investors to illustrate Perpetual’s quality and value investment process in action. The figures were incorrect as a result of a data error relating to a corporate action on a single security. This error has since been corrected. The corrected information can be found in the flyer. The ‘Portfolio Fundamentals’ will be found in Fund Profiles in due course. |
List of impacted funds and additional information |
9 September 2019 |
PDS Update: Transaction Cost document updated |
This incorporated document has been replaced with 30 June 2019 information now available. |
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13 May 2019 |
Clarification |
In the Perpetual Wholesale Funds Supplementary Product Disclosure Statement number 1 dated 1 March 2019, the investment approach for each of the Perpetual Wholesale Conservative Growth Fund, Perpetual Wholesale Diversified Growth Fund, Perpetual Diversified Real Return Fund and Perpetual Wholesale Balanced Growth Fund includes the sentence "Exposures to foreign currency will be limited to 50% of the gross asset value of the Fund.". For avoidance of doubt, this sentence should be read as “Net foreign currency exposure will be limited to 50% of the gross asset value of the Fund.” |
Not Applicable |
1 March 2019 |
Supplementary PDS |
There are updated fund profiles for
We have also updated the PDS for AFCA details. |
|
30 January 2019 |
The investment profile of the Wholesale Split Growth Fund will be updated from 1 March |
From 1 November 2018, there will be a change to the EDR scheme which unresolved complaints can be referred to. The asset allocation will be updated to: |
Not Applicable |
15 October 2018 |
Change to external dispute resolution (EDR) scheme |
From 1 November 2018, there will be a change to the EDR scheme which unresolved complaints can be referred to. |
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17 September 2018 |
PDS Update: Transaction Cost document updated |
This incorporated document has been replaced with 30 June 2018 information now available. |
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5 June 2018 |
Notice to New Zealand Investors |
The Perpetual Global Innovation Share Fund and Perpetual Ethical SRI Credit Fund are now available to New Zealand investors. |
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1 June 2018 |
New PDS document issued |
Additional funds and unit class added. Updates to various disclosures and additional regulatory information added. Additional risks clarified. Amendments to the Fund profiles of particular funds. |
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1 June 2018 |
Notice to New Zealand Investors |
The Perpetual Global Innovation Share Fund and Perpetual Ethical SRI Credit Fund are not available to New Zealand Investors. |
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17 May 2018 |
Changes to Perpetual Wholesale Diversified Real Return Fund |
The constitution of the Fund has been amended to allow new unit classes established after 1 January 2018 to charge a performance fee. With effect from 1 June 2018 the marketing name of the Fund will change, a new unit class which charges a performance fee will be offered and there will be additional disclosure to comply with RG240. |
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23 April 2018 |
Standard Risk Measure (SRM) |
The SRM for the Perpetual Wholesale Active Fixed Interest Fund and Perpetual Wholesale Global Share Fund Hedged has been amended. |
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12 February 2018 |
Closure to New Investors |
Effective 12 February 2018, we have closed the Perpetual Wholesale SHARE-PLUS Long-Short Fund to new investors until further written notice. Existing investors can continue to make additional investments. |
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20 December 2017 |
Update to inquiries and complaints | We have updated our procedures to now be able to receive complaints relating to your investment irrespective of whether you invest directly with Perpetual or invest via a platform. | See attached flyer |
12 December 2017 |
Closure to New Investors |
We will be closing the Perpetual Wholesale SHARE-PLUS Long-Short Fund to new investors on 12 February 2018 |
See attached flyer |
20 November 2017 |
Features Available |
Perpetual Wholesale Income Share Fund clients can now access Savings Plans and Switches between Funds in the Wholesale Funds PDS. |
Refer to the PDS for details about these features. |
23 October 2017 |
Supplementary PDS |
Perpetual Wholesale High Grade Treasury Fund has been added to the group of Funds offered in the PDS. Relevant tax-related disclosures have been updated following our election into the Attribution Managed Investment Trust (AMIT) regime for each Fund for the 2017/2018 and subsequent financial years. An updated application form has been provided to replace the original application form included in the PDS. |
See attached flyer |
23 October 2017 |
Notice to New Zealand investors |
The Perpetual Wholesale High Grade Treasury Fund is not available to New Zealand Investors. |
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9 October 2017 |
PDS Update: Transaction Cost document updated |
This incorporated document has been replaced with 30 June 2017 information now available. |
See attached flyer |
29 September 2017 |
AMIT regime | Perpetual has elected into the Attribution Managed Investment Trust (AMIT) Regime for the year ending 30 June 2018 and subsequent years. | |
31 May 2017 | Fund Distribution Calculations |
The Fund Distribution calculations as at 30 April 2017. The actual distributions payable as at 30 June 2017 may vary significantly depending on a number of factors including fund performance in May and June 2017. |
See attached flyer |
26 June 2017 |
Changes to the Constitution of the Fund/s | Perpetual has made changes to the constitutions for our Funds to allow them to be operated as Attribution Managed Investment Trusts. These changes will apply only from the time an election is made by Perpetual to adopt the AMIT regime for the relevant Fund. We will provide notification on the website if/when this election occurs. | |
26 May 2017 |
Proposed Changes to the Constitution of the Fund/s | Perpetual is proposing making changes to the constitutions for our Funds to allow them to be operated as Attribution Managed Investment Trusts. | See attached flyer |
4 May 2017 | Notice to New Zealand investors | The Perpetual Wholesale Active Fixed Interest Fund is now available to New Zealand Investors. | |
1 May 2017 | New PDS document issued | Fees and costs disclosure for all investors Information on AMIT Regime for all investors Perpetual Wholesale Dynamic Fixed Income Fund management fee reduction. Amendments to the Fund profiles of particular funds. | See attached flyer |
31 March 2017 | Notice to New Zealand investors | The Perpetual Wholesale Active Fixed Interest Fund is not available to New Zealand Investors. | |
29 March 2017 | Buy/Sell spread Change | The Buy/Sell Spread for the Perpetual Wholesale Global Share Fund and Perpetual Wholesale Global Share Fund Hedged has been amended. | See attached flyer |
1 March 2017 | Standard Risk Measure (SRM) Changes | The SRM for a selection of Perpetual Funds has been amended | See attached flyer |
16 May 2016 | Fund Profile change and Investment guidelines change | The Fund profile and Investment guidelines for the Perpetual Wholesale Industrial Share Fund has changed. | See attached flyer |
12 May 2016 | Standard Risk Measure (SRM) | The SRM for the Perpetual Wholesale Diversified Growth Fund has been amended. | See attached flyer |
11 February 2016 | Buy/Sell spread Change | The Buy/Sell Spread for the Perpetual Wholesale Dynamic Fixed Income Fund has been amended. | See attached flyer |
30 September 2015 | Investment guidelines change | The Investment Guidelines have been amended for the Conservative Growth Fund. | See attached flyer |
1 April 2015 | Amendment to the legal name (Registered managed investment scheme) | The registered managed investment scheme name has changed for a selection of Perpetual Funds. | See attached flyer |
26 September 2014 | Change in benchmark names | Rebranding of relevant UBS indexes to Bloomberg Ausbond Bank Bill Index and Bloomberg AusBond Composite Index. | See attached flyer |
27 March 2014 | Investment guidelines change | The Fund’s Investment Guidelines have been modified for the Industrial Share Fund | See attached flyer |
30 APRIL 2017 DISTRIBUTION CALCULATIONS
Fund Distribution Calculations 30 April 2017