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Corporate actions

We refer to corporate action as actions taken by, in respect of or against a security in which you have invested. These may affect the capital structure of the security, or the number or type of securities held on your behalf. These types of actions can be mandatory, such as share reconstructions, or voluntary, such as class actions, entitlement offers and share purchase plans.

In some circumstances we will ask you to make a decision regarding your preferred course of action for a corporate action, but in others we, as trustee seeking to act in your best interests and in accordance with our other duties, may make a decision in relation to the corporate action.

We may refuse to act on your instructions if to do so would result in the Fund acquiring an asset not on the investment menu, is inconsistent with our other trustee duties (for example, if the Fund is not permitted to hold such an asset), or if superannuation law forbids it.

Where it is available, we will endeavour to provide relevant information to your adviser about corporate actions impacting your account either directly or (at our discretion) through the corporate actions calendar, viewable by your adviser on our website. Your adviser must use the corporate actions calendar to check for any corporate action information that may be relevant to your account or require your action.

When a corporate action occurs and we ask you for instructions, we must be given those instructions at least three Business Days prior to the published closed date of the action (the cut-off date), unless we specify otherwise. If you are required to make an additional payment to participate in a corporate action, you must ensure that you have sufficient available cash in your Cash Account as at 9.00am Sydney time on the nominated cut-off date for your instruction to be accepted as authorised.

If you are required to make an additional payment to participate in a corporate action, you must ensure that you have sufficient available cash in your Cash Account as at 9.00am Sydney time on the nominated cut-off date for your instruction to be accepted as authorised. Where notice is received after the applicable cut-off date, or you have insufficient funds available, you may not be able to participate in the corporate action, and we are not liable to you for any potential loss of opportunity arising in those circumstances.

Generally you will not be able to vote at shareholder meetings or participate in bonus share plans (offered on some securities, enabling security holders to elect to receive fully paid bonus shares instead of cash dividends) on investments held in your account.

Partly paid securities

Please ensure you have sufficient available cash in your Cash Account to meet unpaid instalment payments when required. If there is insufficient available cash in your Cash Account to meet unpaid instalment payments, we reserve the right to sell down your investment holdings to meet these payments. In these circumstances, money will be drawn from the following investments, starting with the highest balance, in the following order:

  • daily transacting managed investment(s)
  • non-daily transacting managed investment(s)
  • ASX listed securities
  • term deposits.