Changes to the Pendal Sustainable International Share Fund

Following an internal review, effective 31 May 2025, we have decided to make the following changes to the benchmark and investment objective of the Fund:

Why are we making the change?

We are making the above changes to the benchmark and investment objective of the Fund for the following reasons:

Benchmark:

The Fund adopts an emulation approach, utilising investment holdings of related parties and/or third party’s investment strategies (Underlying Strategies) (adjusting them as set out in the Information Memorandum to be issued on or around 10 April 2025). These Underlying Strategies are benchmarked against the MSCI ACWI ex Australia Index (Net in AUD). Consequently, changing the Fund’s benchmark to the MSCI ACWI ex Australia Index (Net in AUD) is considered a more appropriate benchmark for performance measurement, as it eliminates the benchmark mismatch.

Investment objective:

The Fund is managed to outperform the benchmark rather than aiming for a set alpha target. Therefore, changing the Fund’s investment objective offers a more representative view of how the Fund is managed and its expected returns over the long term.

Additionally, extending the investment time period from 3 years to 5 years aligns the Fund’s investment objective with the longer-term investment horizon of the adjusted Underlying Strategies implemented within the Fund.

What do you need to do?

An updated Information Memorandum is available upon request. You should consider the updated Information Memorandum and the changes to the benchmark and investment objective of the Fund before deciding whether to acquire or hold units in the Fund.

Questions? 

If you have any questions about your investment or would like further information regarding the changes, please contact us on 1300 346 821 (for Australian investors) or +612 9220 2499 (for overseas investors) from Monday to Friday, 8.00am to 5:30pm (Sydney time).