Notice of Termination: Pendal Pure Alpha Fixed Income Fund (APIR: BTA0441AU ARSN: 161 859 936)

Following a review of the Pendal Pure Alpha Fixed Income Fund (Fund) we have made the decision to terminate the Fund effective Thursday, 5 December 2024.

Why is the Pendal Pure Alpha Fixed Income Fund terminating?

We regularly review our product offerings and investment capabilities to ensure that our business continues to maintain a product suite that is relevant to client demands and commercially viable.

After careful consideration, we have determined that terminating the Fund is in the best interests of all investors.

The Fund has experienced underperformance and has not been able to meet its investment return objective.  Also, the Fund has been in outflows for a number of years, with little prospect of any significant growth in funds under management in the foreseeable future.  As a result, the Fund cannot remain economically viable without significantly increasing the management fee charged to investors.

How this affects you?

As the decision to terminate the Fund has been made, applications, transfers and withdrawal requests will not be accepted from 10:30am (Sydney time) on Thursday, 5 December 2024.

What happens next?

Following the Fund’s termination on Thursday, 5 December 2024, we will begin to wind up the Fund. The assets of the Fund will be sold and the net proceeds of winding up will be paid to all investors in proportion to their unit holding.

What does this mean for you?

Your pro-rata share of the net cash proceeds from this termination will be paid directly to your nominated bank account on file on or around Thursday, 12 December 2024.

There will be no final distribution of income by the Fund on termination. You will receive an AMIT Member Annual (AMMA) statement which will set out the details of taxable income that has been attributed to you following the end of the 2024/2025 financial year.

Questions?  

If you have any questions, please contact our Investor Relations Team during business hours Monday to Friday on 1300 346 821.