Application
An application is the term used to describe the purchase of units in a managed investment when the investment is being funded from your CMA.
Payment for your managed investment purchases will be deducted from your CMA on the day that we apply for units in the 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 managed investments is determined by the product issuer. Where transaction requests are placed online by your adviser prior to 12:00 noon Sydney time on a 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 send instructions on the same day, however generally these will be sent the following Business Day. Where 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.
