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Managed investment fees

In addition to the management costs payable to product issuers outlined in Part A of this PDS, product issuers may charge the following additional fees.

Performance fees

Management costs payable to the product issuers (set down in the table of Fees and other costs contained in Part A of this PDS) include an estimate of performance fees payable for the relevant managed investments. You may incur performance fees as a consequence of investing in the various managed investments. The current performance fees (and the method of charging them) that apply to each managed investment are set out in the relevant PDS available on ClientView or from your adviser. Performance fees will change from time to time in accordance with the rules specified by the individual product issuers.

Buy/sell spreads

You may incur buy/sell spreads as a consequence of buying and selling the various managed investment options. Buy/sell spreads are an allowance for transaction expenses, such as brokerage, so that individual investors in managed investments more equitably share the costs associated with buying and selling investments. Buy/sell spreads apply at the time of each transaction and are charged by the individual product issuers in either of two ways:

  • by reducing the particular investment option's performance (unit price) or
  • by adjusting the application and/or withdrawal price.

The current buy/sell spreads (and the method of charging them) that apply to each investment option are set out in the PDS's issued by the product issuers. Generally, these amounts can vary from 0% to 1.8% (for example, between $0 and $18.00 per $1,000). These are estimates only, based on information provided by the product issuers. Buy/sell spreads will change from time to time in accordance with the rules specified by the individual product issuers.

Buy/sell spreads are paid directly to the individual product issuers and no buy/sell spread is retained by the trustee. Buy/sell spreads are additional costs that you incur only if you transact in managed investments.