We have updated and reissued the Product Disclosure Statements (PDSs) for the Pendal Global Property Securities Fund (the Fund) effective on and from Friday, 15 November 2024.
The following is a summary of the key changes reflected in the PDS for the Fund.
Updates to significant risks disclosure
The Fund’s investment strategy involves specific risks.
We have updated the significant risks disclosure applicable to the Fund to ensure that our disclosure continues to align with the nature and risk profile of the Fund and the current economic and operating environment.
Updates to ongoing annual fees and costs disclosure
The estimated ongoing annual fees and costs for the Fund has been updated to reflect financial year 2024 fees and costs. These include changes to estimated management costs and estimated transaction costs.
We now also disclose the maximum management fee we are entitled to charge under the Fund’s constitution.
Updates to restrictions on withdrawals
We have updated the disclosure on restrictions on withdrawal to align closer to what is in the Fund’s constitution.
Additional information on how to apply for direct investors
We have provided additional information for non-advised investors (investors without a financial adviser) investing directly in each Fund who may also be required to complete a series of questions as part of their online Application, to assist us in understanding whether they are likely to be within the target market for the Fund.
Updates to our complaints handling process
We have provided additional details about our complaints handling process and the Australian Financial Complaints Authority.
The management fee for the Pendal Dynamic Income Fund – Class W (Fund) will be reduced from 0.40% p.a. to 0.35% p.a. effective Friday, 1 November 2024.
Why is the management fee decreasing?
From time-to-time, management fees are reviewed to ensure a fund remains competitive and we are pleased to reduce the management fee for the Fund following our latest review.
How this affects you?
All unitholders will have the reduced management fee applied to their holdings effective 1 November 2024.
What do you need to do?
There are no other changes to the Fund and no action is required from you.
An updated Product Disclosure Statement (PDS) is expected to be issued for the Fund in December 2024.
If you have any questions about your investment, please contact us on 1300 346 821 (for Australian investors) or +612 9220 2499 (for overseas investors) from Monday to Friday, 8.30am to 5.30pm (Sydney time).
The Pendal Enhanced Credit Fund (Fund) will terminate on Monday, 2 December 2024.
Why is the Fund terminating?
The Fund’s small size means that it has high running costs and cannot be managed in a cost efficient way.
We also consider that the Fund has little prospect of significant growth in funds under management in the foreseeable future. If the Fund were to continue, the Fund’s size would result in higher management costs for investors, which would reduce their investment returns.
How this affects you?
We will terminate the Fund on Monday, 2 December 2024.
Any applications received after 11:00am (Sydney time) on Tuesday, 17 September 2024 will not be accepted. There will be no reinvestment of distributions from 11:00am (Sydney time) on Tuesday, 17 September 2024.
Withdrawals and transfers will continue to be processed until 2:00pm (Sydney time) on Friday, 29 November 2024.
As soon as practicable after the Fund is terminated on Monday, 2 December 2024, we will begin winding up the Fund. The assets remaining in the Fund will be realised and the proceeds distributed to all investors in proportion to their unit holding.
What does this mean for you?
Cash proceeds from this termination will be paid directly to your nominated bank account on file on or around the week commencing Monday, 9 December 2024 or shortly thereafter.
Any distributions paid from 11:00am (Sydney time) on Tuesday, 17 September 2024 will be paid as cash into your nominated bank account on file.
Details of any distributions paid to you during the current financial year will be included in your final AMIT Member Annual (AMMA) statement. This statement will set out the components of the income that have been attributed to you following the end of the financial year ending 30 June 2025.
Questions?
If you have any questions, please contact our Investor Relations Team during business hours on 1300 346 821.
We have updated and reissued the Product Disclosure Statements (PDSs) for the following funds effective on and from Monday, 2 September 2024.
- Barrow Hanley Concentrated Global Share Fund
- Barrow Hanley Concentrated Global Share Fund No. 2
- Barrow Hanley Concentrated Global Share Fund No. 3
(each a Fund, together the Funds).
The following is a summary of the key changes reflected in the PDS for each Fund.
Updates to significant risks disclosure
Each Fund’s investment strategy involves specific risks.
We have updated the significant risks disclosure applicable to each Fund to ensure that our disclosure continues to align with the nature and risk profile of each Fund and the current economic and operating environment.
Updates to ongoing annual fees and costs disclosure
The estimated ongoing annual fees and costs for each Fund have been updated to reflect financial year 2024 fees and costs. These include changes to estimated management costs and estimated transaction costs.
We now also disclose the maximum management fee we are entitled to charge under each Fund’s constitution.
Updates to restrictions on withdrawals
We have updated the disclosure on restrictions on withdrawal to align closer to what is in each Fund’s constitution.
Updates to our complaints handling process
We have provided additional details about our complaints handling process and the Australian Financial Complaints Authority.
We have updated and reissued the Product Disclosure Statements (PDSs) for the following classes of units in the Barrow Hanley Concentrated Global Share Fund Hedged (the Fund), effective on and from Monday, 2 September 2024:
- Barrow Hanley Concentrated Global Share Fund Hedged – Class R
- Barrow Hanley Concentrated Global Share Fund Hedged – Class Z
The following is a summary of the key changes to the PDSs.
Updates to significant risks disclosure
The Fund’s investment strategy involves specific risks.
We have updated the significant risks disclosure applicable to the Fund to ensure that our disclosure continues to align with the nature and risk profile of the Fund and the current economic and operating environment.
Updates to ongoing annual fees and costs disclosure
The estimated ongoing annual fees and costs for the Fund has been updated to reflect financial year 2024 fees and costs. These include changes to estimated management costs and estimated transaction costs.
We now also disclose the maximum management fee we are entitled to charge under the Fund’s Constitution.
Updates to restrictions on withdrawals
We have updated the disclosure on restrictions on withdrawal to align closer to what is in each Fund’s constitution.
Updates to our complaints handling process
We have provided additional details about our complaints handling process and the Australian Financial Complaints Authority.
We have updated and reissued the Product Disclosure Statements (PDSs) for the following classes of units in the Regnan Global Equity Impact Solutions Fund (the Fund), effective on and from Monday, 2 September 2024:
- Regnan Global Equity Impact Solutions Fund – Class R
- Regnan Global Equity Impact Solutions Fund – Class W
The following is a summary of the key changes to the PDSs.
Labour, Environmental, Social, Governance and Ethical (ESG) disclosure
We have enhanced our ESG disclosure to describe the Fund’s impact objective and the eight impact themes targeted by the Fund.
We have also provided clarification that the Fund may hold cash and may use derivatives from time to time and that exclusionary screens are not applied to the Fund’s investments in cash or derivatives. The use of derivatives may result in the Fund having indirect exposure to the excluded companies.
There has been no change to the Fund’s investment approach, or the exclusionary screens employed by the Fund.
Updates to significant risks disclosure
The Fund’s investment strategy involves specific risks.
We have updated the significant risks disclosure applicable to the Fund to ensure that our disclosure continues to align with the nature and risk profile of the Fund and the current economic and operating environment.
Updates to ongoing annual fees and costs disclosure
The estimated ongoing annual fees and costs for the Fund has been updated to reflect financial year 2024 fees and costs. These include changes to estimated management costs and estimated transaction costs.
We now also disclose the maximum management fee we are entitled to charge under the Fund’s constitution.
Updates to restrictions on withdrawals
We have updated the disclosure on restrictions on withdrawal to align closer to what is in each Fund’s constitution.
Additional information on how to apply for direct retail investors
We have provided additional information for non-advised retail investors (retail investors without a financial adviser) investing directly in Class R units of the Fund who may also be required to complete a series of questions as part of their online Application, to assist us in understanding whether they are likely to be within the target market for a Fund.
Updates to our complaints handling process
We have provided additional details about our complaints handling process and the Australian Financial Complaints Authority.
We have updated and reissued the Product Disclosure Statements (PDSs) for the following classes of units in the Pendal Global Select Fund (the Fund), effective on and from Friday, 28 June 2024:
- Pendal Global Select Fund – Class R
- Pendal Global Select Fund – Class W
- Pendal Global Select Fund – Class Z
The following is a summary of the key changes to the PDSs.
ESG disclosure
We have removed the Responsible Investment Association of Australasia (RIAA) certification symbol, as the Fund is no longer RIAA certified. We have also provided clarification that exclusionary screens are not applied to the Fund’s investments in cash or derivatives and that the use of derivatives may result in the Fund having indirect exposure to the excluded companies from time to time
There has been no change to the Fund’s investment approach, or the exclusionary screens employed by the Fund.
Updates to significant risks disclosure
The Fund’s investment strategy involves specific risks.
We have updated the significant risks disclosure applicable to the Fund to ensure that our disclosure continues to align with the nature and risk profile of the Fund and the current economic and operating environment.
Updates to ongoing annual fees and costs disclosure
The estimated ongoing annual fees and costs for the Fund has been updated to reflect financial year 2023 fees and costs. These include changes to estimated management costs and estimated transaction costs.
We now also disclose the maximum management fee we are entitled to charge under the Fund’s Constitution.
Additional information on how to apply for direct retail investors
We have provided additional information for non-advised retail investors (retail investors without a financial adviser) investing directly in Class R units of the Fund who may also be required to complete a series of questions as part of their online Application, to assist us in understanding whether they are likely to be within the target market for the Fund.
Updates to our complaints handling process
We have provided additional details about our complaints handling process and the Australian Financial Complaints Authority.
We have updated and reissued the Product Disclosure Statements (PDS) for the Pendal Sustainable Share Fund (Fund) on and from Friday, 28 June 2024.
The following is a summary of the key changes reflected in the PDS.
ESG disclosure
We have enhanced our ESG disclosure to describe the Fund’s sustainability objective, the sustainable themes Pendal focuses on when managing the Fund and the sustainability assessment framework employed by the Fund.
There has been no change to the way the Fund is invested.
Updates to significant risks disclosure
Each Fund’s investment strategy involves specific risks.
We have updated the significant risks disclosure applicable to the Fund to ensure that our disclosure continues to align with the nature and risk profile of the Fund and the current economic and operating environment.
Updates to ongoing annual fees and costs disclosure
The estimated ongoing annual fees and costs for the Fund have been updated to reflect financial year 2023 fees and costs. These include changes to estimated management costs and estimated transaction costs.
We now also disclose the maximum management fee we are entitled to charge under the Fund’s Constitution.
Additional information on how to apply for direct investors
We have provided additional information for non-advised investors (investors without a financial adviser) investing directly in the Fund who may also be required to complete a series of questions as part of their online Application, to assist us in understanding whether they are likely to be within the target market for the Fund.
Updates to our complaints handling process
We have provided additional details about our complaints handling process and the Australian Financial Complaints Authority.
We have updated and reissued the Product Disclosure Statements (PDSs) for the following Pendal funds effective on and from Thursday, 6 June 2024:
- Pendal Australian Equity Fund
- Pendal Australian Share Fund
- Pendal Focus Australian Share Fund
- Pendal Government Bond Fund
- Pendal Imputation Fund
- Pendal MidCap Fund
- Pendal Monthly Income Plus Fund
- Pendal Property Investment Fund
- Pendal Property Securities Fund
- Pendal Short Term Income Securities Fund
- Pendal Smaller Companies Fund
(the Funds).
The following is a summary of the key changes reflected in the PDS for each Fund.
Updates to significant risks disclosure
Each Fund’s investment strategy involves specific risks.
We have updated the significant risks disclosure applicable to each Fund to ensure that our disclosure continues to align with the nature and risk profile of each Fund and the current economic and operating environment.
Updates to ongoing annual fees and costs disclosure
The estimated ongoing annual fees and costs for the Funds have been updated to reflect financial year 2023 fees and costs. These include changes to estimated management costs, estimated performance fees (where applicable) and estimated transaction costs.
We now also disclose the maximum management fee and performance fee (where applicable) we are entitled to charge under each Fund’s Constitution.
Additional information on how to apply for direct investors
We have provided additional information for non-advised investors (investors without a financial adviser) investing directly in each Fund who may also be required to complete a series of questions as part of their online Application, to assist us in understanding whether they are likely to be within the target market for the Fund.
Updates to our complaints handling process
We have provided additional details about our complaints handling process and the Australian Financial Complaints Authority.
We have updated and reissued the Product Disclosure Statement (PDS) for the Pendal Managed Cash Fund (the Fund) effective on and from Thursday, 6 June 2024.
The following is a summary of the key changes reflected in the PDS.
Updates to significant risks disclosure
The Fund’s investment strategy involves specific risks.
We have updated the significant risks disclosure applicable to the Fund to ensure that our disclosure continues to align with the nature and risk profile of the Fund and the current economic and operating environment.
Updates to the Fund’s description
The description of Pendal’s investment process for Australian cash and short-term securities has been updated to better reflect Pendal’s investment approach for the Fund.
Updates to the Fund’s risk level description
There has been no change to the Fund’s risk level of ‘Very low’.
We have, however, standardised the Fund’s risk level description in the PDS with the format used for other Pendal funds.
Updates to ongoing annual fees and costs disclosure
The estimated ongoing annual fees and costs for the Fund have been updated to reflect financial year 2023 fees and costs. These include changes to estimated management costs and estimated transaction costs.
We now also disclose the maximum management fee we are entitled to charge under the Fund’s Constitution.
Additional information on how to apply for direct investors
We provide additional information for non-advised investors (investors without a financial adviser) investing directly in the Fund who may also be required to complete a series of questions as part of their online Application, to assist us in understanding whether they are likely to be within the target market for the Fund.
Updates to our complaints handling process
We have provided additional details about our complaints handling process and the Australian Financial Complaints Authority.