Wholesale Funds Updates

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The Perpetual Global Innovation Share Fund Class A and Perpetual Wholesale Ethical SRI Fund have each made a Special Distribution, effective date 19 November 2021.

As a result, there will be no Distribution as at 31st December 2021 for these Funds.

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The risk levels for a number of Funds, as detailed in the ‘Fund profiles’ section of the Perpetual Wholesale Funds PDS issue number 14 dated 1 June 2021, have been amended.

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The marketing name of the Perpetual Wholesale Global Share Fund will change to the Barrow Hanley Global Share Fund from 1 November 2021.

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On 20 September 2021, unitholders in the Fund voted in favour of the resolution to amend the Fund’s Constitution.

Perpetual will amend the Fund’s constitution by signing the amending deed enclosed with the Notice of Meeting. The amendment will take effect once the amending deed is lodged with ASIC

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Updates to disclosure to clarify that distribution components may include capital.

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On 20 September 2021, there will be a unitholder meeting to consider proposed amendments to the Fund's Constitution.

All unitholders of the Fund are encouraged to vote on the resolution as set out in the Notice of Meeting.

Unitholders can choose to:

• Vote online at any time prior to 2:30pm Saturday, 18 September 2021 by visiting www.web.lumiagm.com/372041067.  Log in using their account number and postcode; or
• Appoint a proxy to attend and vote on your behalf by completing the proxy form. Return the proxy form by post, fax or hand delivery to Perpetual by 2:30pm Saturday, 18 September 2021; or
• Attend the meeting to be held virtually at 2:30pm (Sydney time) on 20 September 2021 through an online platform by accessing web.lumiagm.com/372041067

See attached letter and FAQs

See attached Notice of Meeting, Explanatory Memorandum and Amending Deed

See attached proxy form

See attached Online Platform Guide

The risk level for the Perpetual Wholesale Global Share Fund in the fund profile found on page 16 of the Perpetual Wholesale Funds PDS issue number 14 dated 1 June 2021 has been amended.

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Delay of unit pricing for a number of Funds and Investment options.

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The Perpetual ESG Real Return Fund is now available to New Zealand Investors.

Effective 1 June 2021, we have updated and issued a new Product Disclosure Statement issue number 14 (PDS) for the Wholesale Funds (collectively, the Funds)

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The Perpetual ESG Real Return Fund is not available to New Zealand Investors.

Effective 6 April 2021, the Ethical Screening Process has been updated for the Perpetual Wholesale Ethical SRI Fund and Perpetual Ethical SRI Credit Fund

See attached flyer

Effective 1 April 2021, the buy/sell spreads for some of the Multi Asset funds have changed.

See attached flyer

Effective 18 December 2020, the buy/sell spreads for the Fixed Income funds have changed.

See attached flyer

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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Effective 1 December 2020, the management fee for the Fund will be reduced from 1.25% to 0.99%.

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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.

See letter attached

From 1 December 2020, the investment strategy of the Fund will change. Changes will be made to the Fund’s:

• Investment Objective
• Investment Approach
• Investment Guidelines

The management fee will reduce from 1.16% to 0.55% from 1 December 2020.

See letter attached

The marketing name of the Perpetual High Grade Treasury Fund will change to the Perpetual High Grade Floating Rate Fund from 1 December 2020.

See attached flyer

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.

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.

See attached flyer

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.

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This incorporated document has been replaced with 30 June 2020 information now available.

See attached flyer

Special Distribution:
Perpetual Wholesale Global Share Fund Hedged

Distribution of income

Special Distribution:
Perpetual Wholesale Global Share Fund Hedged

Distribution of capital

Closure notice - Perpetual Wholesale Global Share Fund Hedged (the “Fund”)

Closure and winding up of the Fund.

PDS update:

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:

• investment strategy; and
• fees and charges.

These changes are expected to occur by the end of September 2020, subject to the necessary documentation and other processes being in place.

PDS update:

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.

Effective 1 October 2020, the management fee for several Wholesale Fixed Income Funds have been reduced.

Effective 10 July 2020, the buy/sell spreads for the Fixed Income funds and Diversified funds have changed.

Effective 3 July 2020, the buy/sell spreads for the Fixed Income funds and Diversified funds have changed.

The SRMs for several Perpetual Wholesale Funds have been amended.

Effective 19 June 2020, the buy/sell spreads for the Fixed Income funds and Diversified funds have changed.

Effective 29 May 2020, the buy/sell spreads for the Fixed Income funds and Diversified funds have changed.

Effective 8 May 2020, the buy/sell spreads for the Fixed Income funds and Diversified funds have changed.

Effective 24 April 2020, the buy/sell spreads for the Fixed Income funds and Diversified funds have changed.

Effective 27 March, the buy/sell spreads for the Fixed Income funds and Diversified funds have changed.

Effective 20 March, the buy/sell spreads for the Fixed Income funds and Diversified funds have changed.

Updates to various disclosures. Amendments to the Fund profiles of particular funds. Updates to the Management Costs, Asset Class Classifications and additional Tax Information.

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

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.

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The 'Portfolio Fundamentals' section of some Fund Profiles previously contained inaccurate figures for:

• Price to Earnings
• Price to Book, and
• Dividend Yield

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.

This incorporated document has been replaced with 30 June 2019 information now available.

See attached flyer

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

There are updated fund profiles for

• Perpetual Wholesale Active Fixed Interest
• Perpetual Wholesale Share-Plus Long-Short Fund
• Perpetual Wholesale Growth Fund
• Perpetual Wholesale Diversified Growth Fund
• Perpetual Wholesale Balanced Growth Fund
• Perpetual Diversified Real Return Fund (W and Z units)
• Perpetual Wholesale Split Growth Fund

We have also updated the PDS for AFCA details.

See flyer for more details

From 1 November 2018, there will be a change to the EDR scheme which unresolved complaints can be referred to.
Effective 1 March 2019, the investment profile of the Wholesale Split Growth Fund will be updated to include the following information in the ‘investment approach’: Derivatives and exchange traded funds may be used in managing each asset class.

The asset allocation will be updated to:
International shares and Australian Industrial Shares: 80-100%
Cash: 0-20%

Not Applicable

From 1 November 2018, there will be a change to the EDR scheme which unresolved complaints can be referred to.

See attached flyer

This incorporated document has been replaced with 30 June 2018 information now available.

See attached flyer

The Perpetual Global Innovation Share Fund and Perpetual Ethical SRI Credit Fund are now available to New Zealand investors.

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.

See attached flyer

The Perpetual Global Innovation Share Fund and Perpetual Ethical SRI Credit Fund are not available to New Zealand Investors.

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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The SRM for the Perpetual Wholesale Active Fixed Interest Fund and Perpetual Wholesale Global Share Fund Hedged has been amended.

See attached flyer

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.

We will be closing the Perpetual Wholesale SHARE-PLUS Long-Short Fund to new investors on 12 February 2018

Perpetual Wholesale Income Share Fund clients can now access Savings Plans and Switches between Funds in the Wholesale Funds 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.

The Perpetual Wholesale High Grade Treasury Fund is not available to New Zealand Investors.