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Processing transactions

Managed investments

We will process instructions from your adviser as quickly as possible, depending on the application process of each product issuer. The unit price that you receive for unlisted managed investments is determined by the product issuer. Payment for your managed investment purchases will be deducted from your Cash Account on the day that we apply for units in the managed investments. Product issuers have different rules relating to when applications and withdrawals will be accepted or processed. Details of these rules can be found in the PDS for each managed investment.

Where transaction requests are placed online by your adviser prior to 12 noon Sydney time on a Sydney business day, we will generally send instructions to the product issuer on the same day. Where transaction requests are placed after 12.00 noon Sydney time, we may still send instructions on the same day, however generally these will be sent the following business day. Where unlisted managed investments have minimum investment requirements, or the product issuer does not calculate a unit price daily, it may take longer to process your instructions.

Where your adviser places an order for a full redemption from one managed investment with the proceeds being switched into more than one managed investment, we may split the redemption order into a partial and then a full redemption in order to complete the application orders. In these circumstances, the full redemption will not be placed on market until the partial redemption has been completed.

Please refer to your adviser for further details.

Managed investments that do not transact daily

Some managed investments do not process applications or redemptions on a daily basis. If you instruct us to buy or sell a non-daily transacting investment or another illiquid investment, we will process this transaction in accordance with the product issuer's timetable. In some cases this could be three months or more after we receive your instructions and extended delays may be experienced.

Refer to the relevant PDS or your adviser for further information.

Switching managed investments

Where your adviser places an order for a full redemption from one managed investment with the proceeds being switched into more than one managed investment, we may split the redemption order into a partial and then a full redemption in order to complete the application orders. In these circumstances, the full redemption will not be placed on market until the partial redemption has been completed.

Approved ASX listed securities

We will use the available cash in your Cash Account to settle any purchases of approved ASX listed securities. We will withdraw cash to pay for the purchase on the same day, or within one day, from when your broker executes the trade.

Term deposits

We will only purchase term deposits periodically and we will draw the funds from your Cash Account on the day our application is made to the issuer of the term deposit. The details of these dates are available from your adviser. The interest rate applicable will be the advertised rate on the day the term deposit closes to applications and rollovers. The advertised rate is available from your adviser. Interest on term deposits will be paid into your Cash Account upon maturity.