Correction to Product Disclosure Statement – Average performance fee as at 30 June 2022

The Pendal Australian Long/Short Fund’s (Fund) average performance fee for the last five financial years ending on 30 June 2022, disclosed in the Fund’s Product Disclosure Statements issued on 3 October 2022 and 11 January 2023 was incorrectly stated as 0.14% p.a. of the assets of the Fund.

The correct average annual performance fee over that period is 0.26% p.a., a difference of 0.12%.

Based on the estimate of 0.26% p.a. for an investment of $50,000 in the Fund, the performance fee would be $130 ($50,000 * 0.26% p.a. = $130), and not $70 as stated in the PDS. Please note that this is an estimate based on historical performance for illustration purposes only and does not reflect actual fees which may be charged in the Fund.

There has been no change to the way performance fees are calculated and the correct fees have been charged to the Fund at all times.

We apologise for any inconvenience. Please contact 1300 346 821 if you have any questions.