Perpetual WealthFocus Super Plan

The changes were effective on 28 March 2024. Refer to the flyer attached for the changes.

From 13 June 2024 there are new investor contact details for the Perpetual WealthFocus Super Plan. 
Phone: 1800 011 022 
Email: superandpension@perpetual.com.au

The above replace the contact details in the following sections in Parts 1 and 2 of the PDS for Perpetual WealthFocus Super Plan (where applicable): 

• Inquiries and Complaint
• Contact details
• Application form

Please note that the email address for complaints remains MyComplaint@perpetual.com.au

See contact us page - Client and Members tab:
https://www.perpetual.com.au/about/contact-us/general-enquiries/

From 1 July 2024, insurance premium rates for Death, Total and Permanent Disablement and Salary Continuance Insurance will increase.

See a copy of the letter - Perpetual WealthFocus Super Plan Changes to Insurance Premiums from 1 July 2024 for further information. 

The buy spread for the Perpetual Global Allocation Alpha investment option has increased from 0.26% to 0.30%, effective 1 May 2024. The incorporated transaction costs and current buy/sell spreads document has been updated to reflect this change.

See attached flyer

The replacement Perpetual WealthFocus Investment Book has been issued. It contains updated information in relation to the available investment options. We refer to the updated changes for:

• Vanguard International Shares Index (Hedged)

• Perpetual Diversified Real Return

• Perpetual ESG Australian Share

• Perpetual Concentrated Equity

• Perpetual SHARE-PLUS Long-Short

• Perpetual Diversified Growth

• Perpetual Smaller Companies

• BlackRock Tactical Growth

• Schroder Fixed Income

The replacement WealthFocus PDS has been issued. It contains updated information in relation to your investment in WealthFocus Super Plan including: - updated fees and costs disclosure - cost of product information - recent superannuation and tax changes - changes to investment option profiles including changes to risk levels as attached - additional risks in the significant risk table - closure of investment options - changes to product features - the Insurance Book has been updated for 18 December 2023. Further information on changes to the product features in WealthFocus Super Plan is set out in the summary.

Effective on and from 3pm on 12 September 2023, Perpetual will:

• cease to accept new and additional applications (including switches) into the Option; and

• suspend withdrawal requests in the Option.

Investors in the Option will be notified of the closure of the Option and be provided with information on their choices.

Effective 1 August 2023, the investment fee for the WealthFocus Super Plan - T. Rowe Price Global Equity investment option has been reduced from 0.94% pa to 0.85% pa.

The changes are effective on or after 31 March 2023. Refer to the flyer attached for the changes.

ASIC has revoked the Interim Order in relation to the Target Market Determination (TMD) of the underlying fund for the Investment Option (Revocation). On and from 15 December 2022:

• the offer for the Investment Option under the Perpetual WealthFocus Supr Plan Product Disclosure Statement issue number 14, dated 1 October 2022 (PDS) has recommenced; and 

• we will resume accepting applications for the Investment Option and issuing notional units in the Investment Option in accordance with the terms of the PDS, as supplemented by the Supplementary Features Book dated 15 December 2022.

From 1 January 2023, the age of eligibility for downsizer contributions will change from 60 to 55 years.

Members aged 55 or over may make additional contributions of up to $300,000 from the proceeds of the sale of their principal residence, subject to eligibility criteria. Please refer to page 11 of the WealthFocus Super Plan Features Book dated 1 October 2022.

An Interim Order in relation to the Target Market Determination of the underlying investment fund for the Investment Option was made by ASIC on 24 November 2022.

No further applications will be accepted and units issued in the Investment Option until such time as subsequently notified by Perpetual. Withdrawals for the Investment Option will continue in the usual way.

The replacement WealthFocus PDS has been issued. It contains updated information in relation to your investment in WealthFocus Super Plan including:

• updated fees and costs disclosure

• cost of product information

• recent superannuation and tax changes

• changes to investment option profiles, including name changes

• change to risk levels

• additional risks in the significant risk table

• recontributing amounts withdrawn under the COVID early release provisions

• the Insurance Book has been updated for 1 October 2022

Further information in respect of the above is set out in the summary.

From 1 October 2022, the investment strategy of the fund will change. Changes will be made to the Option's;

• Option Name

• Investment objective

• Investment approach

• Investment guidelines

Impacted members will be contacted by mail regarding alternative investment options before the termination.

From 4 August 2022 the Magellan Global investment option is open to all members.

The changes have taken effect from 27 May 2022. Refer to the attached flyer.

The changes are effective on or after 31 May 2022. Refer to the flyer attached  for the changes.

From 1 July 2022, insurance premium rates for Total and Permanent Disablement and Salary Continuance Insurance will increase and Death insurance premiums will decrease. Download - Your Perpetual WealthFocus Super Plan - Changes to insurance premiums from 1 July 2022 letter for further information.

The risk level for the WealthFocus Allocation Pension Perpetual Global Innovation Share option per the ‘Investment Options’ section of the Perpetual WealthFocus Investment Book dated 1 December 2020, has been amended.

The risk level for the WealthFocus Allocation Pension Perpetual Global Innovation Share option per the ‘Investment Options’ section of the Perpetual WealthFocus Investment Book dated 1 December 2020, has been amended.

From 15 February 2022 the Magellan Global investment option will be closed to new members and members who are not currently invested in the option. There is no change to existing members holding this option.

See attached flyer

The Options will be closed to switches from 3pm 28 October 2021. Investors in the Options will be notified of the termination of the Options and these investors will have until 29 November 2021 to provide instructions to us about what they would like done with their current holdings in the Options to be terminated.

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Effective 1 October 2021, the investment fee for the WealthFocus Super Plan – Vanguard Australian Fixed Interest Index investment option has been reduced from 0.24% pa to 0.19% pa. For the updated estimated ongoing annual fees and costs for the investment option, reflecting the reduction in the investment fee, please refer to the 'Ongoing Annual fees and costs reflecting the financial year ended 30 June 2021' document. The link for that document can be found under the heading 'Other Documents' above or under 'Further information' in the next column.

See attached flyer

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

See attached flyer

In September 2021, the underlying OnePath Diversified Fixed Interest Trust (Fund) has made changes to their investment manager and investment objectives. Effective on 10 September 2021, the investment manager and investment objective profile which appears on page 6 of the Perpetual WealthFocus Investment Book dated 1 December 2020 is updated with the changes to the investment manager and investment objectives of the Fund as set out in the attached flyer. Also, information on the investment manager will be provided in the 'Details of current underlying investment managers' document which can be found above.

See attached flyer

From 1 July 2021, we modified the Standard TPD definition to also cover all eligible insured members under age 65 who:

• Were gainfully employed in the 12 months before the cause of the claim, or
• Are working in an uninsurable or hazardous occupation.

With more insured members to be covered under the Standard TPD definition (instead of the Activities of Daily Living (ADL) TPD definition), more members that make a TPD claim may be assessed against that definition.

As a result of the changes to TPD definitions, insurance premium rates will also change.

Please contact us if you would like to request a copy of the notification.

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The remaining holdings in the van Eyk option/s were applied to the Perpetual Cash investment option effective 22 April 2021. Members were notifed in April 2021. Please contact us if you would like to request a copy of the notification.

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The risk level for the Perpetual Global Share Option in the fund profile found on page 14 in the Perpetual WealthFocus Investment Book issue number 9 dated 1 December 2020 has been amended.

See attached flyer

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

See attached flyer

Changes to the Perpetual Global Innovation Share & Perpetual Diversified Real Return investment options.

Effective on and from 1 June 2021, we have made the following changes to the investment option profiles which appear on pages 14 & 17 of the Perpetual WealthFocus – Investment Book dated 1 December 2020: Global Innovation Share: objective and investment approach Diversified Real Return: investment approach and investment guidelines

Update to the Ethical Screening process

The Ethical Screening process has been updated for the Perpetual Ethical SRI investment option

Changes to buy/sell spreads

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

Update on the van Eyk Blueprint Funds. Macquarie Investment Management Limited, the responsible entity of the van Eyk Blueprint Capital Stable Fund, van Eyk Blueprint Balanced Fund and van Eyk Bluepint High Growth Fund (the van Eyk Blueprint Funds) have provided an update on the wind up of the van Eyk Blueprint Funds.

Members have been provided with an update on the van Eyk Blueprint Funds wind-up by letter dated 16 February 2021. The letter includes correspondence from the responsible entity of the van Eyk Blueprint Funds, Macquarie Investment Management Limited, dated 25 January 2021. Please contact us if you have not received your update and would like to request a copy.

PDS update

The replacement WealthFocus PDS has been issued. It contains updated information in relation to your investment in WealthFocus Super Plan including:

• changes to fees
• updated fees and costs disclosure
• ·new cost of product information
• recent superannuation and tax changes
• changes to investment option profiles, including name changes
• details on new investment options available to members and other investment options that are closed to new members
• changes to the investment strategy process
• updated online member platform, myPerpetual which provides enhanced user functionality
• clarification on how we consider switching requests
• additional risks in the significant risk table
• COVID early release.

Further information in respect of the above is set out in the summary.

For a copy of the PDS to obtain this information can be found on this page or contact us for a copy free of charge at 1800 022 033.

Changes to Perpetual Split Growth Investment Option (the “Option”)

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

• Investment Objective
• Investment Approach
• Investment Guidelines

The investment fees of the Option will reduce from 2.13% to 0.80% from 1 December 2020. The new fee is comprised of an administration fee and investment fee. This amount does not include estimated costs. These estimated costs can be found here.

From 1 December 2020 we're introducing a clearer and simpler fee structure including:
- lower investment fees
- ending differential fee rebates on accounts where no ongoing adviser commission is payable and you have elected to receive all communications online (rebates may still be payable to Perpetual employees)
- ending ongoing adviser commission payments and rebates
- ending normal operating expense recoveries
Members were provided an update by mail around 26 October. Should you require a copy of the letter please email investments@perpetual.com.au, or phone us on 1800 022 033.

See flyer attached

The transition of the Option’s underlying 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.

PDS update: Changes to Perpetual Global Share Investment Option (the “Option”)

Barrow, Hanley, Mewhinney & Strauss, LLC (“Barrow Hanley”) has been appointed as investment manager of the Option and the investment strategy of the Option has been updated.

The buy/sell spread of the Option will reduce with Barrow Hanley managing the Option.

Effective 1 October 2020, the performance fee will be removed.

PDS update:
Changes to Perpetual Global Share Investment Option (the “Option”)

PIML intends to cease acting as the investment manager of the Option and will  appoint  Barrow, Hanley, Mewhinney & Strauss, LLC as investment manager of the Option.

It is intended that with the appointment of Barrow Hanley, changes may be made to the Option’s:

• investment strategy; and
• fees.

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

Barrow Hanley will become a related party of PSL, and part of the Perpetual Group, with the proposed acquisition of a majority interest in Barrow Hanley by Perpetual Limited.

Update on the van Eyk Blueprint funds.
Macquarie Investment Management Limited, the Responsible Entity of the underlying van Eyk Blueprint funds have provided an update on the wind up of the funds.

Reduction of the management fee for the Perpetual Diversified Income and Perpetual Dynamic Fixed Income investment options. Please refer to the flyer under further information for details on the fee reductions.

Reduction of the investment fee for the T. Rowe Price Global Equity investment option

As at 1 July 2020, WealthFocus insurance premium rates have changed and a new Insurance Book has been issued dated 1 July 2020, which forms part of the current Perpetual WealthFocus Super Plan dated 1 March 2019, has been issued. There are also changes to the following insurance policy terms and conditions: 

• A 14-day cooling off period has been introduced from the commencement date for both new insurance cover and any increases to existing cover
• We have simplified the general eligibility for members
• Salary continuance benefits will be paid for a maximum of six months while you travel or reside overseas (applicable for members with this cover).

You can obtain a copy of the detailed Policy Document and/or Trust Deed by contacting us.

The Standard Risk Measures have changed for some of our investment options. Please refer to the flyer under further information for the specific investment option.

Reduction of the investment fee for the Aspect Diversified Futures Option

Effective 26 June 2020, the investment fee for the WealthFocus Super Plan – Aspect Diversified Futures investment option has been reduced from 2.62% pa to 2.32% pa. Refer to the 'Annual Investment Fees and Estimated Indirect Costs' table starting on page 15 of the current PDS Part 1 - (Features Book).

Reduction in the investment fee for the Perpetual Cash Option

Effective 1 June 2020, the investment fee for the WealthFocus Super – Perpetual Cash investment option has been reduced from 0.42% to 0.22%. Our estimated expense recoveries remain unchanged at 0.03%.

Early release of superannuation

The Commonwealth Government has passed legislation as part of its plan to cushion the economic impact of COVID-19 and help build a bridge to recovery.

The Government will allow individuals in financial stress as a result of the Coronavirus to access up to $10,000 of their superannuation in 2019-20 and a further $10,000 in 2020-21.

Eligible individuals will be able to apply online through myGov after mid-April 2020, for access of up to $10,000 of their superannuation before 1 July 2020. They will also be able to access up to a further $10,000 from 1 July 2020 for another three months. They will not need to pay tax on amounts released, and the money they withdraw will not affect Centrelink or Veterans’ Affairs payments.

Click here for more information

PDS Update: Reference is made to the WealthFocus Schroder Balanced (‘Diversified – Growth’) investment option which appears on page 19 of the current PDS – Investment Book. 
           
The investment guidelines for the Schroder Balanced Investment Option have changed effective November 2019.

BlackRock Investment Management (Australia) Limited, the investment manager of the BlackRock Scientific Diversified Growth and BlackRock Scientific Diversified Stable investment options have made some enhancements to the funds. Effective from 31 October 2019, the options will:                                                       

- Integrate Environmental, Social and Governance (ESG) considerations into the investment process                                             

-Screen out certain ESG sensitive sectors, including but not limited to Tobacco, Controversial Weapons and Nuclear Weapons on a fund-wide level.

The investment options will maintain their existing investment objective and additionally incorporate the above ESG considerations.

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PDS Update: Fees and Costs information

In this update, we replace the information in the PDS on fees and costs. Generally, the estimated annual costs information have been updated for changes in indirect costs in certain investment options.

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

Effective from 8 October 2019, Perpetual WealthFocus Super Plan 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.

Effective 1 October 2019, the following changes will apply to Perpetual Cash investment option:

• Investment Fee lowered from 0.57% to 0.42%pa
• Investment Fee Rebate lowered from 0.15%pa to 0.0%
• Ongoing commission is 0.0%.

The Fees and Costs for the Investment Option/s including estimated indirect costs, for the year ended 30 June 2019 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.

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.

The WealthFocus insurance policy has been amended, with effect from 1 July 2019, to include the following changes to its terms and conditions for death, TPD and salary continuance insurance.

Termination of Cover
Insurance cover will cease at the end of the period for which premiums have been paid once a member's account becomes inactive for a continuous period of 16 months, unless a member elects to keep their insurance cover. An account is deemed 'inactive' if it has not received any contribution (including insurance benefit or transfer/rollover from another superannuation fund) for a continuous period of 16 month.

Reinstatement of Cover
If an account is inactive, insurance cover can be reinstated if within 60 days of cover, we receive a validly completed insurance election form from the member  requesting their cover to be reinstated. Cover will be automatically reinstated on the date it ceased and will be treated as if it had never ceased, subject to backdated premiums being paid.

After 60 days of the cover ceasing, a member will need to reapply and be accepted for insurance cover, which will be subject to underwriting.

Insurance Election Form

Please contact us if you would like a copy of the insurance Policy Document.

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Reference is made to the WealthFocus Morningstar Growth Real Return (‘Diversified – Growth’) investment option which appears on page 16 of the current PDS – Features Book. The WealthFocus Morningstar Growth Real Return investment option, with effect from 1 July 2019, has lowered the Investment Fee (% PA) from 1.95% to 1.78% pa. The other ‘Standard Fees and Costs’ remain unchanged.

Refer to the 'Annual Investment Fees and Estimated Indirect Costs' table starting on page 15 of the current PDS - Features Book.

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Reference is made to the underlying Vanguard Australian Shares Index investment option which appears on page 15 of the current PDS – Features Book. The Vanguard Australian Shares Index is lowering its management costs. As a result, with effect from 1 July 2019, the Investment Fee (% PA) will be lowered from 1.40% to 1.38% pa.

Refer to the 'Annual Investment Fees and Estimated Indirect Costs' table starting on page 15 of the current PDS - Features Book.

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Protecting Your Super

The ‘Protecting Your Super’ legislation comes into effect from 1 July 2019. It introduces the following new laws designed to protect members from paying unnecessary fees and insurance premiums:

• Insurance cover ceases on inactive accounts unless an election to keep insurance is made;
• Inactive accounts with a balance of less than $6,000 will be transferred to the ATO;
• Removal of exit fees;
• 3% fee cap on accounts with a balance of less than $6,000.

Please refer to the flyer for more information.

Forms to assist you with maintaining your insurance or account balance can be found here:

Insurance election form

ATO form authorisations for low balance accounts

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Update on the van Eyk Blueprint funds.
Macquarie Investment Management Limited, the Responsible Entity of the underlying van Eyk Blueprint funds have provided an update on the wind up of the funds.

Investors in the Fund have been provided with an update on the fund wind-up by letter dated 4 June 2019. The letter includes correspondence from the responsible entity of the underlying van Eyk Blueprint funds, Macquarie Investment Management Limited, dated 30 May 2019. Please contact us if you have not received your update and would like to request a copy.

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Cash investment option rebate update. The investment fee rebate for the Perpetual Cash investment option was reduced from 0.35% to 0.15% pa in November 2018. However, this reduced rebate will take effect from 1 March 2019 and Perpetual is currently covering the 0.20% pa difference so the effective net fee to members is 0.22% until then.

For full details on fees and costs, read the PDS together with the 1 December 2018 PDS update.

PDS Update: Fees and Costs information

In this update we replace the information in the PDS on fees and costs. Generally the estimated annual costs information have been updated for:

• changes in indirect costs in certain investment options, and 
• the fee changes in the WealthFocus Perpetual Cash investment option that occurred in August and November 2018.

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

Update on the van Eyk Blueprint investment options.
Macquarie Investment Management Limited, the Responsible Entity of the underlying van Eyk Blueprint funds have provided an update on the wind up of the funds. Please refer to the attached letters.

Members with holdings in these options

View letters

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

Fee change for WealthFocus Perpetual Cash

Refer to PDS Features Book, fee rebate - page 12. The changes to the investment fee and estimated effective total net annual cost  are as follows:                                 
Perpetual Cash investment option;
Investment fee:
Gross fee     0.57%pa
Fee rebate  0.15%pa            Net fee         0.42%pa


Estimated effective 
total net annual cost:  0.46% (estimated indirect costs 0.04%) successor options.

Effective 31 August 2018, the gross investment fee for Perpetual Cash was lowered from 1.05%pa to 0.57%pa. Effective from 30 November 2018, the fee rebate for Perpetual Cash will be lowered from 0.35%pa to 0.15%pa. The net impact of these changes is that the net investment fee for Perpetual Cash has lowered from 0.70%pa to 0.42%pa.

The Trustee has decided to close ten investment options to new members from 28 September 2018. These closed options will then be removed from the WealthFocus investment menu on 18 February 2019. The closing investment options are:                   
*Aberdeen Actively Hedged International Equity
*AMP Capital Global Equity Value
*BT International Share
*Grant Samuel Epoch Global Equity Shareholder Yield (Unhedged)
*Morningstar Balanced Real Return
*Morningstar Conservative Real Return
*Perennial Value Shares
*Solaris Core Australian Equity
*UBS Defensive Investment
*Walter Scott Global Equity (Hedged)               
                

These investment options will be closed to new members from 28 September 2018.

Existing members in these options are able to transact up until 3pm 18 February 2019. Any investments remaining in the closed options after 18 February 2019 will be transferred into the respective successor options.

View Letter to existing members

Fees and Costs - Figures for FY 2018

The Fees and Costs for the Investment Option/s including estimated indirect costs, for the year ended 30 June 2018 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

The investment manager Aberdeen Asset Management Limited, has changed its name to Aberdeen Standard Investments Australia Limited.

Refer to PDS - Investment Book dated 1 May 2017 page 14 and Perpetual WealthFocus Investment Manager Information flyer page 1.

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Change to the external dispute resolution (EDR) scheme to which you can refer complaints that remain unresolved after having dealt with our internal complaints process. From 1 November 2018, any external complaints should be referred to the Australian Financial Complaints Authority (AFCA). Please refer to the attached flyer for contact details.

Refer to PDS Part 1 - Features Book dated 1 May 2017 page 31.

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We have lowered the WealthFocus Perpetual Cash investment option investment fee from 1.05% to 0.57% pa effective from 31 August 2018.

Refer to 1 December 2017 PDS Update: Fees and Costs information page 3.

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As at 1 July 2018, WealthFocus insurance premium rates have changed and a new Insurance Book has been issued. Changes to the insurance terms and conditions include new "Cessation of cover" terms for death, TPD and salary continuance cover when members leave Australia and are not Australian residents or are New Zealand citizens. You can obtain a copy of the detailed Policy Document by contacting us.

Refer to Insurance Book dated 1 July 2018 pages 2 and 5.

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The underlying fund, Perpetual Ethical SRI, 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 governance behaviour for SRI screening; and
- disclosing that derivative counterparties are now subject to ethical 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.

View attached

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

n/a

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