Exclusionary Screen change

Regnan Credit Impact Trust (APIR: PDL5969AU)

(the “Fund”)

The following information contains an important update to the exclusionary screens disclosed in the Product Disclosure Statement and Additional Information to the Product Disclosure Statement for the Regnan Credit Impact Trust dated 11 January 2023 (together, “the PDS”) and should be read in conjunction with the PDS.

The changes to the Fund’s exclusionary screens are outlined below. In our view, these changes ensure that the Fund remains true to label and more closely aligned with investor expectations in relation to responsible investment funds.

1. Broader screening for fossil fuels

The Fund will limit its exposure to issuers directly involved in the exploration, extraction or refinement of fossil fuels (specifically coal, oil and gas).

2. Broader screening definition for controversial weapons

The screening definition for controversial weapons will broaden to also include white phosphorus weapons. As a result, the Fund will not invest in issuers directly involved in the manufacture of white phosphorus weapons.

3. Additional screen for controversial weapons

The Fund will apply an additional exclusionary screen for controversial weapons as follows:

The Fund will not invest in issuers directly involved in the supply of goods or services specifically related to controversial weapons.

4. Removal of current screen for issuers that directly mine uranium for the purposes of weapons manufacturing

The current screen for issuers directly involved in the direct mining of uranium for the purposes of weapons manufacturing will be removed.

Issuers supplying uranium for the purposes of weapons manufacturing will be captured under the new screen for controversial weapons relating to the supply of goods or services specifically related to controversial weapons. 

5. Stricter gross revenue thresholds

The Fund will not invest in issuers directly involved in any of the following activities, where such activities account for 5% or more of an issuer’s gross revenue:

• Alcohol
• Gaming facilities
• Non-controversial weapons or armamentsPornography
• Fossil Fuels.

Exclusionary Screens

Effective 15 July 2025, the disclosure relating to the Fund’s exclusionary screens set out in section 5. How we invest your money of the Fund’s Product Disclosure Statement is replaced with the following:

The Fund will not invest in issuers directly involved in any of the following activities:

• tobacco production (including e-cigarettes and inhalers); or

• controversial weapons manufacture (including cluster munitions, landmines, biological or chemical weapons, nuclear weapons, depleted uranium weapons,  blinding laser weapons, incendiary weapons, non-detectable fragments and white phosphorus weapons); or

• supply of good or services specifically related to controversial weapons.

The Fund will also not invest in issuers directly involved in any of the following activities, where such activities account for 5% or more of an issuer’s gross revenue:

• the production of alcoholic beverages; or

• manufacture or provision of gaming facilities; or

• manufacture of non-controversial weapons or armaments; or

• manufacture or distribution of pornography; or

• exploration, extraction or refinement of fossil fuels (specifically coal, oil and gas).

Effective 15 July 2025, the disclosure relating to the Fund’s exclusionary screens under the heading ‘Ethical considerations’ in section 3. Labour, environmental, social and ethical considerations of the Fund’s Additional Information to the Product Disclosure Statement is replaced with the following:

The Fund will not invest in issuers directly involved in any of the following activities:

• tobacco production (including e-cigarettes and inhalers); or

• controversial weapons manufacture (including cluster munitions, landmines, biological or chemical weapons, nuclear weapons, depleted uranium weapons, blinding laser weapons, incendiary weapons, non-detectable fragments and white phosphorus weapons); or

• supply of good or services specifically related to controversial weapons.

The Fund will also not invest in issuers directly involved in any of the following activities, where such activities account for 5% or more of an issuer’s gross revenue:

• the production of alcoholic beverages; or

• manufacture or provision of gaming facilities; or

• manufacture of non-controversial weapons or armaments; or

• manufacture or distribution of pornography; or

• exploration, extraction or refinement of fossil fuels (specifically coal, oil and gas).