Managing Your Investment
On this page you will find information about how the Fund is managed and how you can manage your investment.
Who may invest in the fund?
The Fund is open to Australian resident investors for the following types of entities:
- Individual and Joint accounts from individuals over 18 years of age,
- Australian incorporated companies,
- Trustees and trustee companies,
- Partnerships, or
- Superannuation Funds (including self-managed superannuation funds).
The 30-Days’ Notice Units, Class A and B are open to Retail and Wholesale Clients. Class C is restricted to Wholesale Clients only.
Applications schedule
The frequency of allotments may differ for the respective classes of units. You can the Allotment schedule on the individual Unit Class pages or the FAQs.
Applications for investment in the Fund are processed as they are received and units will be allocated at the next available date.
For weekly allocations, completed Applications and Application Monies received by close of business on Monday, Units will typically be issued on the following Wednesday or, in the event of a bank holiday, the next Business Day. If your Application Form or Application Monies are received after the processing cut-off time, then your application will not be processed until the following week.
Minimum Investment
Minimum Investment Amounts vary for each Unit Class.
The investment terms for each Unit Class are set out on the individual Unit Class pages within this website.
Investment amounts, minimum and maximum balances may be varied from time to time. Before making any investment, we recommend checking the individual Unit Class page and the Ongoing Disclosure section of our website.
Minimum Investment Balance
Minimum Investment Account balances vary for each Unit Class.
The investment terms for each Unit Class are set out on the individual Unit Class pages within this website.
30-Days’ Notice Investment – Minimum Investment Account Balance
Class A Investment – Minimum Investment Account Balance
Class B Investment – Minimum Investment Account Balance
Investment amounts, minimum and maximum balances may be varied from time to time. Before making any investment, we recommend checking Unit Class page and the Ongoing Disclosure section of our website.
Additional investments
Additional Investments are accepted for each Unit Class subject to the terms for each Unit Class.
A maximum investment balance applies in the case of the 30-Day’s Unit Class.
Additional investments in the 30-Days’ Notice Units must be at least $1,000 and in multiples of $100 thereafter.
Refer to the individual investment pages on this website for details:
Investment amounts, minimum and maximum balances may be varied from time to time. Before making any investment, we recommend checking Unit Class page and the Ongoing Disclosure section of our website.
Redemptions
Whilst liquid, investors may make Withdrawal Requests on the terms for each Unit Class.
All Unit Classes are subject to minimum Investment Periods and redemptions are subject to the powers of the Responsible Entity under the Constitution to suspend, delay or scale back the number of Units to be redeemed.
Units in the Fund can only be redeemed once the initial Investment Period has expired. The Investment Period applies from the date the Units are issued and not to the overall holdings of a member.
Investments in the 30-Days’ Notice Units may be redeemed at the expiry of the initial Investment Period of 31 Days. Thereafter, redemption is subject to providing 30-Days’ Notice.
Units in Classes A and B can only be redeemed on the expiry of the initial Investment Period and each subsequent Investment Period. Each subsequent Investment Period refers to the 6-month and 12-month anniversary of the date of issue of the principal investment for A and B respectively.
Withdrawal Requests can be made selecting the Apply button on this website.
Once a Withdrawal Request is accepted, the Responsible Entity has 21 Days to process payments.
Our ability to satisfy redemptions is subject to there being sufficient cash balances available in the Class and the best interests of all members of the Fund.
Where the Fund or any Class becomes illiquid, investments can only be redeemed in response to an Offer of Redemption made by the Responsible Entity. To check if your Class of Units are liquid, refer to the individual investment pages on this website.
We will make information available about any Offer of Redemption to eligible Investors by email.
Distributions
The Fund seeks to make distributions monthly, but please note positive returns are not guaranteed.
Typically, Distributions will be paid no later than the 15th calendar day of the month.
Depending on the Class of Units, investors may elect to reinvest all or a portion of the distribution.
A distribution is a payment of the Fund’s taxable income derived from its investments. The components of the distribution may vary from period to period however the Fund does not aim to generate capital gains. There may also be times when no distribution is paid.
Distributions will comprise of an amount of income (such as interest on Note investments) less expenses incurred (such as management and administration fees).
The Fund does not anticipate generating capital gains and consequently expects distributions to be comprised of income only.
Reinvesting distributions
Class A and B unitholders may elect to reinvest all or part of their distributions.
Distributions paid on 30-Days’ Notice Units cannot be reinvested
The effective date for allotment of units for reinvested distributions will be the first day of the calendar month following the relevant distribution period. The Unit Price for reinvested distributions is the closing monthly Unit Price. There is no discount.
For example, for a Distribution declared for the month ending 30 June, the units will be allotted with an effective date of 1 July.
Instructions for nomination or change of election of distribution must be received by the Registry no later than 3 business days before the end of each month.
Conversions
Classes A and B may be converted subject to the terms of the Unit Class and the discretion of the Responsible Entity.
The 30-Days’ Notice Units can not be converted.
Generally, a conversion will only be accepted on the 6- and 12-month anniversary of allotment coinciding with a Withdrawal Request, but the Responsible Entity may from time-to-time permit conversions when making variations to the Fund, for example, issuing a new Class or varying the Minimum Investment Amount.
In addition to the conditions of the relevant Class being satisfied, acceptance of the application will be contingent upon meeting the Minimum Investment Amount and Minimum Redemption Amount. The Responsible Entity shall also consider whether a conversion might confer a right on an investor not generally available to other unitholders and whether the Responsible Entity’s duty to treat Investors equally.
The Responsible Entity may accept an application for conversion subject to conditions such as there being sufficient liquidity in Notes offered by the Note Issuer.
Conversions accepted may take up to 28 days to process.
Transferring units
Investors may transfer Units to any other eligible investor. However, the Responsible Entity has the discretion to refuse transfers of Units without giving any reasons for this refusal.
To affect a transfer to another person, the following will be required:
- transferee account must be approved and recorded in the register,
- a signed and completed standard unit transfer form from the transferor, and
- notification of the transferee’s Investor name and number (or if a new Investor, an Application Form).
Standard unit transfer forms are available by contacting us or by contacting the Unit Registry.
No buy-sell spread is applied to Unit transfers. A transfer of Units may have tax implications and Investors should seek their own tax advice in this regard.
Investor reporting & statements
The Fund is a “disclosing entity” under the Corporations Act and is subject to regular reporting and disclosure obligations. These include the preparation of annual reports and half yearly reports. A copy of the audited annual and half year financial report for the Fund is available on our website each year.
Investors will also receive the following regular reports:
- Confirmation of allotments and redemptions
- Monthly Performance Reports
- Periodic Statement of income and expense
- Annual Tax Statement
- Exit Statements
The above statements and reports are available within the registry client portal.
