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Perpetual Charitable Endowment Fund
Updates
Continuous disclosure and important information
The PDS summarises information about Perpetual Charitable Endowment Fund (Fund).
Additional Information booklet
The additional information document contains further information including fees, fund operations, tax and general information.
PDS Notice of election for early transition to new fees and costs disclosure
The PDS refers to other information relevant to the Funds, which is ‘incorporated by reference’ and forms part of the PDS. This information should be read together with the main PDS document above.
Transaction costs and buy/sell spreads
Details of current underlying specialist investment managers
Continuous disclosure and important information
Date |
Nature of event or change |
Impact of the change |
Further information |
|---|---|---|---|
30 October 2024 |
PDS and Additional Information Reissue. Update to specialist investment manager information |
A new Perpetual Charitable Endowment Fund PDS and Additional Information Booklet has been issued.
Please read the letter to investors regarding these changes and the PDS for additional information or ask us for a copy free of charge by contacting us on 1800 022 033. The details of underlying specialist investment managers have been updated as part of the updated investment approach. |
|
9 October 2024 |
PDS Updated: Fees and Costs information |
The information in the PDS and Additional Information about fees and costs is replaced by the information in the attached document. Product information on transaction costs and buy-sell spreads is replaced by the information in the attached document. For full details on fees and costs, read the PDS together with this update. |
|
10 July 2024 |
Update to specialist investment manager information |
The details of current underlying specialist investment managers have been updated. |
|
27 June 2024 |
Update to specialist investment manager information |
The details of current underlying specialist investment managers have been updated. |
|
29 May 2024 |
Update to specialist investment manager information |
The details of current underlying specialist investment managers have been updated. |
|
1 March 2024 |
PDS and Additional Information Reissue. Changes to Buy/Sell Spread. |
A new perpetual Charitable Endowment Fund PDS and Additional Information document has been issues. The new PDS and Additional Information Booklet contains:
Please read the letter to investors regarding these changes and PDS for additional information or ask us for a copy free of charge by contacting us on 1800 003 001. Effective 1 March 2024, the Buy/Sell spread for the fund has been changes. Please see "Transaction costs and Buy/Sell Spreads document". |
|
1 December 2023 |
PDS and Additional Information Reissue |
A new Perpetual Charitable Endowment Fund PDS and Additional Information document has been issued. The new PDS and Additional Information Booklet contains:
Please read the PDS available via weblink for additional information or ask us for a copy free of charge by contacting us on 1800 003 001 |
|
9 October 2023 |
PDS Update |
The information in the PDS and Additional Information about fees and costs is replaced by the information in the attached document. For full details on fees and costs, read the PDS together with this update. |
|
15 June 2023 |
Amendment to 1 March PDS update: Further update to investment profiles. |
Amendment to the 1 March 2023 PDS Update to show the correct investment guidelines for the Perpetual Charitable Endowment Fund. |
|
1 March 2023 |
PDS update: Update to investment profiles |
Following a review of the investment strategies, changes to the following will take effect from 1 March 2023:
Please read the attached flyer for details about these changes. |
|
1 October 2022 |
PDS Update: Fees and Costs information |
The information in the PDS and Additional Information about fees and costs is replaced by the information in the attached document. For full details on fees and costs, read the PDS together with this update. |
|
1 February 2022 |
PDS Update: Transaction Cost and buy/sell spread document updated |
This incorporated document has now been replaced with 1 February 2022 information now available. |
|
1 April 2021 |
Changes to Buy/Sell Spread |
Effective 1 April 2021, the buy/sell spread for the fund has changed. Please see “Transaction costs and Buy/Sell Spreads document.” |
|
7 December 2020 |
Update to Specialist Investment Manager Information |
The details of current underlying specialist investment managers have been updated. |
|
3 July 2020 |
PDS Update: Transaction Cost & Buy/Sell spread document updated |
This incorporated document has now been replaced with 3 July 2020 information now available. |
|
29 May 2020 |
PDS Update: Transaction Cost & Buy/Sell spread document updated |
This incorporated document has now been replaced with 29 May 2020 information now available. |
|
8 May 2020 |
PDS Update: Transaction Cost & Buy/Sell spread document updated |
This incorporated document has now been replaced with 8 May 2020 information now available. |
|
27 March 2020 |
PDS Update: Transaction Cost & Buy/Sell spread document updated |
This incorporated document has now been replaced with 27 March 2020 information now available. |
|
20 March 2020 |
PDS Update: Transaction Cost & Buy/Sell spread document updated |
This incorporated document has now been replaced with 20 March 2020 information now available. |
|
31 January 2019 |
Introduction of tobacco securities investment restriction on Australian Shares & International Shares asset classes |
From 31 January 2019, for Australian and international shares asset classes, Perpetual will not permit its specialist investment managers (including itself) to invest in companies that are manufacturers of cigarettes and other tobacco products as defined under Global Industry Classification Standard 302030 as a Tobacco company. For all asset classes other than Australian and international shares, we consider a specialist investment managers’ policies and practices regarding environmental, social and governance (ESG) factors and labour standards only to the extent that they may have an effect on the manager’s style and investment performance. We will neither choose nor exclude a specialist investment manager solely on their ESG and labour standards policies/practices (except for managers of Australian and international shares), but such policies/practices will contribute to our overall assessment of the manager’s style and capability. |
|
1 October 2018 |
PDS Update: Transaction Cost & Buy/Sell spread document updated |
This incorporated document has now been replaced with 30 June 2018 information now available. |
|
11 September 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. Please refer to this transitional disclosure for more information. |
|
15 June 2018 |
PDS Update |
The replacement Perpetual Charitable Endowment PDS has been issued. It contains updated information in relation to the Product Update notice on 15 May 2018. For a copy of the replacement PDS click above, or ask for a copy free of charge by contacting us on 1800 003 001. |
|
15 May 2018 |
Changes to Investment Strategy and Management Costs | Following the strategic asset allocation review the following changes will take effect on and from 15 June 2018:
Find out more here. |
|
16 November 2017 |
No performance fee cap applicable for any specialist investment managers | Effective on and from 16 December 2017, no performance-related fee cap will be applicable for any specialist investment managers of Single and Multi-sector funds (unless otherwise agreed to in the agreement between the specialist investment manager and Perpetual).
Performance-related fees are payable when a specialist investment manager outperforms a defined performance hurdle (benchmark), for a defined period of time. The maximum performance-related fee rate up to 25% of outperformance for specialist investment managers (other than for alternative assets) still remains. For more details, refer to the Performance-related fees section in PDS. |
|
1 November 2017 |
Change to investment return objective |
Following a strategic asset allocation review the following change will take effect from 1 November 2017: Investment return objective to: a total return (including distributions) of CPI +4.5% p.a. before fees and after the effect of franking credits over rolling 10-year period. For the full investment return objective, please refer to the PDS and SPDS dated 1 November 2017. |
|
22 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. |
|
1 June 2017 |
PDS update |
The replacement PDS has been issued. It contains updated information in relation to your investment including:
For a copy of the PDS to obtain this information click above, or ask us for a copy free of charge by contacting us on 1800 003 001. |
|
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 (AMIT) Find out more here |
|
Maximum Performance-related fees of specialist investment managers
Notice date 22 November 2016
The maximum performance fee payable to specialist investment managers and when they are payable is described in the ‘Fees and Costs’ section in the 'Additional information' document that should be read in conjunction with the PDS . For specialist investment managers other than for alternative assets, the maximum performance fee rate will change from a maximum of 15.4% of that outperformance, to up to 25% of outperformance.
Investment Manager Review
Notice date 4 August 2016
Perpetual has conducted a review of its specialist investment managers in the Australian and international share sectors and following the review will implement the following:
Changes to Australian Share Specialist Investment Manager Allocations
From 6 July 2016, a number of changes were made to the Australian Share Asset Class specialist investment managers portfolio allocations. Changes are summarised as follows:
- Removal of the Australian Share Asset classes full allocation to Perpetual Investments Economic Diversification Dividend Yield (EDDY) strategy; and
- Resulting from the removal of Perpetual Investments EDDY strategy, an increase in allocations to Perpetual Investments Concentrated Equity strategy and increases in allocations to specialist investment managers Cooper Investors, Kaplan Funds Management and Renaissance Asset Management.
The changes to portfolio allocations will result in some differences to specialist investment manager performance fee arrangements.
The specialist investment managers may be entitled to performance fee arrangements that differ, and in some cases may be higher. Any increases to performance fee arrangements will take effect no sooner than 30 days after the date of this update.
The ranges of specialist investment manager performance fees align with those disclosed in the PDS.
The above changes will flow on to any multi sector funds that invest in Australian shares.
Changes to International Share Specialist Investment Managers
In August 2016, a number of changes will be made to specialist investment managers for the International Share Asset Class. Changes are summarised as follows:
- The following specialist investment managers have had their portfolio allocations terminated effective 2 August 2016:
- Perpetual Investments Economic Diversification Global Equities strategy
- Aberdeen Asset Management
- The following specialist investment managers will be appointed and received portfolio allocations no later than 22 August 2016:
- Sustainable Growth Advisers
- RWC
- Barrow, Hanley, Mewhinney & Strauss
Those specialist investment managers who will be appointed may be entitled to performance fee arrangements that differ from those specialist investment managers who have been terminated. In some cases the performance fee arrangements may be higher. Any increases to performance fee arrangements will take effect no sooner than 30 days after the date of this update.
The ranges of specialist investment manager performance fees align with those disclosed in the PDS.
The above changes will flow on to any multi sector funds that invest in International Shares.
Details of the new specialist investment managers will be included here, once those managers have commenced management of the portfolios: Specialist investment managers information.