Additional Information Guide
Ord Minnett Limited
ABN 86 002 733 048 AFSL 237 121
February 2021 Ord Minnett Fund Additional Information Guide
This Additional Information Guide Contents (Guide) is issued by Ord Minnett Management Limited ABN 55 002 1 How to use this Guide 262 240, AFSL 237123 (in this 2 Applications, withdrawals and transfers Guide ‘Ord Minnett Management’, ‘we’, ‘us’ or ‘our’), the responsible 3 Benefits of investing in the Fund entity of the registered managed 4 Fees and costs investment scheme listed below. 5 Taxation This Guide relates to the Ord Minnett Cash Management Trust ARSN 090 714 588 (CMT);
(a ‘Fund’). Capitalised terms used in this Guide have the meaning given to them in the PDS unless this Guide provides otherwise.
This Guide was prepared as at 22 February 2021.
2 Ord Minnett 1 How to use this Guide
This Guide contains information that unless otherwise indicated, forms part of the Product Disclosure information in this Guide applies, Statement (PDS) for the Fund listed and forms part of the PDS for, below: the CMT.
Name of Fund Ord Minnett Cash Management Trust You should read this document in conjunction with the PDS for the Fund.
Please note the following when reading this Guide:
2 Applications, withdrawals and transfers
2.1 How do I enquire and transact on my account?
Internet You can access your account details via our secure website. Registration to www.ords.com.au view details can be completed online. For transactional access, please complete the relevant section of the Application Form.
Additional applications: Contact your Australian Financial Institution to deposit from your cheque or savings account to your Ord Minnett CMT.
Partial withdrawals: You can withdraw your investment to make BPAY Biller Code: 347435 payments to any approved Biller. Customer Reference:
Telephone You can contact the Client Services Team for any unit and account 1800 700 713 information, Monday to Friday, between 8:30 am and 5:00 pm, Sydney time (excluding Public Holidays).
Mail Mail your instructions to: Ord Minnett Management Ltd GPO Box 2613, Sydney NSW 2001
Additional Information Guide 3 2.2 Making an initial application
To invest in the Fund, simply certified identification requested in We may at our absolute discretion complete the Application Form and the Application Form we may not be accept or refuse in whole or in part make your initial payment using one able to proceed with your any application for units and we will of the options specified below. investment. The consequences of not be required to assign any reason failing to provide your tax file or ground for such refusal. The Application Form for the Fund is number are separately addressed in also available at www.ords.com.au/ Applications received on a section 5 of this Guide. document-repository or by Business Day prior to 3pm contacting the Client Services Team We can only accept applications (Sydney time) will be processed on 1800 700 713. from investors who are aged 18 and begin to earn income from years or over. If you are making an that day. Please note that accounts which application for a minor, the account are being established through direct name must be in the name of the credit will be opened for a responsible adult with the minor as maximum of 10 Business Days. the designation. Should funds not be received within this period, we may elect to close If units are issued and any cheque the account. for application monies fails to clear, the units will be void from their date We will not accept cash, credit of issue and the applicant will be cards or foreign currency payments. liable for any costs incurred by us or If you do not provide us with an the Fund. original signed Application Form, personal information or specific
2.3 Paying for my initial application
Make your initial payment using one (c) Supply appropriate instructions of the following options. and arranging payment through your Instructing Dealer (as (a) Attach your cheque made defined in section 2.13 of this payable to Ord Minnett CMT - Guide).
Cheques will be accepted subject to normal bank clearing arrangements. The clearing arrangements are no different for the treatment of bank cheques.
(b) Direct credit: please contact our Client Service Team on 1800 700 713 for banking details for direct credit deposits.
4 Ord Minnett 2.4 Uncleared funds
If units are issued and any cheque for application monies fails to clear, the units will be void from their date of issue and the applicant will be liable for any costs incurred by Ord Minnett Management or the Fund.
2.5 How do I make additional investments?
In addition to the methods set out Telephone & Internet Banking – in section 2.2, further investments BPAY. Call your bank, credit union or in the CMT may be made in the building society to make this following ways. payment from your cheque, savings or credit card account. (a) Direct credit into your CMT More info: www.bpay.com.au. account: Bank Westpac (c) Depositing funds into the Fund BSB 032 847 at any Westpac Banking Account Number Corporation branch in Australia
(b) Making a BPAY payment from (d) By transferring funds on the your other financial institution to: internet from an existing bank The minimum additional BPAY account using your bank’s investment is $100.00. internet facility. (e) By establishing a Regular Savings Plan (see below). Biller Code: 347435 Ref:
Additional Information Guide 5 2.6 Regular Savings Plan
The Regular Savings Plan is a You will need to ensure that If at any time you wish to alter your convenient way for you to make sufficient funds are retained in your monthly contribution or cancel the regular monthly additions to your Australian bank, building society or Regular Savings Plan, we require investment in the Fund. By using a credit union account. If the direct notification in writing. Please allow savings plan, you have the potential debit is dishonoured, a dishonour fee at least 10 Business Days prior to for greater returns by placing your (refer to section 4 of this Guide for the 20th of each month. money in managed investments the current fees) will be withdrawn We reserve the right to cancel your rather than leaving it in a bank from your investment. Additional participation in the Regular Savings savings account. charges may be levied by your Plan at any time. In the event your nominated bank/building society. By participating, you authorise us to Regular Savings Plan debits are direct debit your nominated amount To take advantage of the Regular returned to us unpaid, we will automatically from your Australian Savings Plan simply complete and request debits two more times. If bank, building society or credit send us the Regular Savings Plan on the third attempt the money is union to purchase additional units. Form (included in the unavailable, we may choose to Application Form). cancel your Regular Savings Plan. The minimum monthly investment You will be liable for any costs amount is $100. The minimum Regular Savings Plan incurred by us or the Fund. amount is $100. Fund will be drawn on the 20th of each month or the first Business Day after that date. Please allow 10 Business Days to establish your plan prior to the first debit.
6 Ord Minnett 2.7 How do I make a withdrawal from the CMT?
You can withdraw your investment your preferred method of Periodic Payments in the Fund in the following ways: payment being either: Periodic Payments are a convenient Requesting a funds transfer via – credited to your nominated way for you to make regular our secure internet service Australian bank, building payments from your CMT account society or credit union to another Australian bank, building BPAY funds to a registered BPAY account; or society or credit union. Biller – by cheque payable to you, using your personal CMT cheque By participating, you authorise us to mailed to your address or book debit your CMT account for an collected by you from any Ord amount specified by you using the telephone transaction Minnett office; automatically on the period you facility the signature(s) of the account nominate to your Australian bank, through your Instructing Dealer holder(s) (which must match the building society or credit union. to transfer funds to your signature(s) on record for You will need to ensure that previously nominated bank your account). account sufficient funds are retained in your Please note if your Australian bank CMT account to meet the Periodic completed Withdrawal Request account is not previously Payment. If the debit is Form from www.ords.com.au/ nominated, you must provide us dishonoured, you will miss your document-repository; or with an original, signed withdrawal payment for the current period and written request (note: photocopy request. We may not be able to we will attempt to debit your will not be accepted). process your withdrawal request account again for the subsequent using a copy or over the telephone. If we receive your redemption period. Please refer to the Periodic request by 11.00am Sydney time on Unless you instruct us otherwise Payments terms and conditions at a Business Day, it will be processed we will record bank account details www.ords.com.au/document-repository. on that day. If we receive it after advised to us in writing as this time, your redemption request nominated bank accounts and use will be processed on the following these account details for future Business Day. transactions. If we receive your withdrawal Requirements for your request by 11am Sydney time on a withdrawal request Business Day, it will be processed Your withdrawal request must on that day and paid within 5 include: Business Days. your name and account number; the dollar amount you wish to withdraw from your account;
Additional Information Guide 7 2.8 Telephone Transaction Facility
The telephone transaction facility To apply for this facility please tick with any telephone withdrawal allows you to make withdrawals over the relevant section on the request instructions in relation to the telephone to a previously Application Form. Your account your investment. nominated Australian bank account. operating authority must select Note: In the event of a large Once you have applied for this facility “any investor may sign”. In applying, telephone transaction, we may a confidential telephone transaction you agree to be bound by the call you back to verify the details code will be sent to your postal following terms and conditions: and nature of the transaction. This address. You will need to quote this A telephone withdrawal request call-back is to provide us with code to access your account. is dealt with in the same manner additional verification of your We also reserve the right to ask under the Constitution as a instruction. additional security questions to written withdrawal request. If your telephone transaction confirm your identity before To make a withdrawal request, code is quoted by some other proceeding with your request. your telephone transaction code person seeking to access your account, whether authorised by Please note if your Australian bank must be quoted. We also may you or not, you will be liable for account has not been previously ask you additional identification any losses suffered by you or by advised to us you must provide us style questions for added us resulting from that other with an original, signed withdrawal security. person accessing your account. request. We may not be able to You will indemnify Ord Minnett process your withdrawal request Management and the Fund for We may amend the above terms using a copy or over the telephone. any loss, damage or liability that and conditions at any time and may be suffered or incurred as a we will notify you before the result of our acting in accordance amendment takes effect.
8 Ord Minnett 2.9 Appointment of Instructing Dealer
You may wish to appoint an nominated by you on the Form If a Representative is nominated by instructing dealer to operate your (Representative), any directors of you on the Instructing Dealer Form Fund account (Instructing Dealer). the appointed Instructing Dealer and the Representative is The Instructing Dealer must be an and any other officers, employees unavailable to take your instructions Australian financial services licensee or representatives of the or settle outstanding transactions within the Ord Minnett group, or Instructing Dealer authorised by then the Instructing Dealer may other Australian financial services the Instructing Dealer for the appoint an alternative licensee as agreed with us. purpose of this appointment. representative to act on your behalf. In consideration of our To apply for an Instructing Dealer Only you may appoint an providing the Instructing Dealer facility please tick the relevant Instructing Dealer. Your Instructing facility, you release us and section on the Application Form Dealer cannot appoint another indemnify us and the Fund against (Instructing Dealer Form). In Instructing Dealer on your behalf. any liability, loss or claim incurred or applying, you agree to be bound by The appointment of your arising directly or indirectly as a the following terms and conditions: Instructing Dealer continues until result of the appointment of an you cancel it by giving us notice in The appointed Instructing Dealer Instructing Dealer, including as a writing. can on receipt of instructions result of our acting on any from you: Your Instructing Dealer will have instructions from a person who access to the personal information appears in good faith to us to be an – deposit into your account; that we hold about you until such Instructing Dealer or other person – withdraw from your account; time as you advise us in writing authorised to give us instructions in – inform us in writing of changes that you do not wish your accordance with these terms and to the details of your account; Instructing Dealer to have access conditions. and to your personal information. If you After giving you 14 days notice in advise us that you do not wish your – close your account. writing, we may vary these Instructing Dealer to have access conditions or cancel the Unless expressly noted by you to to your personal information, your appointment of an Instructing the contrary on the Instructing Instructing Dealer may not be able Dealer. Dealer Form, the powers and to act on your instructions. authorities of the Instructing Dealer extend to any representative
Additional Information Guide 9 2.10 Internet withdrawal facility
The Internet Withdrawal Facility To apply for this facility please tick If your electronic transaction code allows you to withdraw units by the relevant section on the is quoted by some other person requesting a funds transfer via our Application Form. Your account seeking to access your account, secure internet service, rather than operating authority must be “any whether authorised by you or not, in writing. A daily limit will apply. investor may sign” and your account you will be liable for any losses Once you have applied for this may not be subject to a mortgage. suffered by you or by us resulting facility you will be sent, separately, In applying, you agree to be bound from that other person accessing your confidential electronic by the following terms and your account. transaction code. You will need to conditions: We will only act on withdrawal quote this code to transact on your An internet withdrawal request is requests that are received in full account. Your funds can be: dealt with in the same manner and do not appear to contain credited to a previously under the Fund’s Constitution as any errors. nominated Australian financial a written withdrawal request. We may amend these terms and institution account (nominations To make an internet withdrawal conditions at any time and we made via the Application Form or request, your electronic will notify you before the Change of Details form); or transaction code must be quoted. amendment takes effect. transferred to an associated Ord You will indemnify us and the For additional terms and conditions Minnett CMT account. Fund for any loss, damage or that apply to use of our internet Note – payments may only be liability that may be suffered or facilities, please see section 2.22. requested via the Internet incurred as a result of our acting Note – you can not fully withdraw Withdrawal Facility to recipient in accordance with any internet your investment via an online accounts previously nominated withdrawal request instructions request. in writing. in relation to your investment.
10 Ord Minnett 2.11 Personal cheque book facility
The personal cheque book facility Application Form. In applying, you – any duties and other taxes enables you to make third party agree to be bound by the following imposed on the relevant Bank, or payments by using cheques drawn terms and conditions: on us, in relation to the facility. on an account maintained by us Each cheque drawn is the same You: with Westpac. Following as a request to withdraw units. – indemnify the Fund, Westpac presentation of a cheque, the We will withdraw units held in and us against all loss, amount of the payment is debited to your CMT account to pay for it. liabilities and costs incurred our account with Westpac. We then in connection with the cheque seek reimbursement from you by You must not draw a cheque for book facility; and withdrawing an equivalent amount an amount greater than or equal in units from your CMT account. to the withdrawal value of the – release Westpac and us from units in your CMT account (giving claims and liabilities in If you have a CMT account, you may consideration to the minimum connection with any act or request that we issue you with a balance requirements) as this will omission relating to the personalised cheque book. The not allow sufficient funds to cover operation of the cheque book cheques are marked “not cheque transaction fees. Failure facility. negotiable”, so you cannot make to comply with this condition will Ord Minnett Management and them out for “cash” and present result in your cheque being Westpac may cancel the facility: them for immediate payment. dishonoured and the charging of – immediately if you do not Cheques can be written for a dishonour fee. If the balance of comply with any of these Australian dollars only. Cleared your account is less than the conditions; or funds must be available at the time required minimum balance, your any cheques you have written are account may be closed. – at any time after giving you presented. You cannot close your reasonable notice. If Ord You must wait at least three account by writing a cheque from Minnett Management or Business Days before drawing your cheque book. You can, of Westpac request, you must against cheques you have course, continue to use the other return any unused cheque deposited. existing fund facilities to forms. withdraw units. You must take care of the cheque We may vary any of these book and inform us promptly if it conditions or fees but only after Australian law requires that certain or any cheque forms are lost giving you at least 30 days prior account information be verified and or stolen. that all signatories to an account be written notice. Stop payment requests must be identified when choosing to have a made to us in writing. You cannot These conditions are for the cheque book facility and we reserve deal directly with Westpac, you benefit of, and may be enforced the right to decline your application must always contact Ord Minnett by, Westpac as well as Ord for cheque book facility if identification Management. Minnett Management. requirements are not satisfied. We may deduct from your Please contact our Client Service Each signatory on the account (and account, by withdrawing units: Team on 1800 700 713 should you any new signatory to an existing – fees as specified in section 4 require further information on this account including persons acting of this Guide for the operation facility and the identification under a power of attorney) must be of the cheque book facility requirements. identified under the terms in the (including fees for dishonoured PDS and this Guide. cheques and stop payment To apply for this facility please tick requests; and the relevant section on the
Additional Information Guide 11 2.12 BPAY Withdrawal Facility
The BPAY Withdrawal Facility allows A BPAY Payment request is dealt We may amend these terms and you to withdraw units by making a with in the same manner under conditions at any time and we BPAY payment (BPAY Payment) the CMT constitution as a written will notify you before the directly from your CMT account via withdrawal request. amendment takes effect. our secure Internet service, rather To utilise this facility, your For additional terms and conditions than in writing. A daily limit will electronic transaction code must that apply to the BPAY facility, apply. be quoted. please see section 2.19 below.
Once you have applied for this You will indemnify Ord Minnett For further information regarding facility you will be sent, separately, Management and the Fund for this facility, please contact our Client your confidential electronic any loss, damage or liability that Services Team on 1800 700 713 transaction code. You will need to may be suffered or incurred as a between 8:30am- 5:00pm Monday quote this code to access your result of our acting in accordance to Friday Sydney time (excludes account via our secure internet with any BPAY request public holidays). service. You can BPAY to a instructions in relation to your registered BPAY Biller. investment.
To apply for this facility please If your electronic transaction code complete the relevant section on is quoted by some other person the Application Form. Your account seeking to access your account, operating authority must be “any whether authorised by you or not, investor may sign” and your account you will be liable for any losses may not be subject to a mortgage. suffered by you or by us resulting You acknowledge your from that other person accessing understanding of, and agree to be your account. bound by, the following terms and conditions:
2.13 Direct credits
You can arrange to have dividends, interest income, salary or other regularly received moneys credited directly to your CMT account.
2.14 Restrictions on transfers of units
We may decline to register any instrument of transfer of units unless it is duly stamped by the NSW Office of State Revenue and is accompanied by such evidence as we may reasonably require showing the right of the transferor to make the transfer.
12 Ord Minnett 2.15 Operating Authority
You may nominate in the Application Note: To access online transaction Form whether you require services the operating authority signatures from all investors to on your account must be set to operate the account, or that any any investor to sign. investor may operate the account individually.
If you nominate any investor to sign, any instructions received by any investor on the account are deemed to be authorised by all investors.
You may change your operating authority nomination at any time by writing to us.
2.16 Anti-money laundering and counterterrorism
In order to meet our obligations require in order to comply with our under the Anti-Money Laundering obligations under the AML Act. and Counter-Terrorism Financial Act By applying to invest in the Fund, 2006 (Cth) (AML Act), we may you warrant that: require further information from you to undertake a detailed verification you are not aware and have no of your identity and the source of reason to suspect that: any application payments. If you do the monies used to fund your not provide us with this information, investment in the Fund have been or there is a delay, we may not be or will be derived from or related able to open an account for you. to any money laundering, We are not responsible for any loss terrorism financing or other illegal incurred by you as a result of our activities, whether prohibited assessment which may either delay under Australian law, international an account being opened or result in law or convention or by an application being declined, when agreement; or the actions are necessary for us to the proceeds of your investment comply with the AML Act. will be used to finance any illegal activities; and We may also require further information from you from time to you are not a politically exposed time to comply with our obligations person or organisation. under the AML Act and you undertake to provide us with all additional information and assistance that we may reasonably
Additional Information Guide 13 2.17 What if there is a mortgagee noted on the register in respect of my units?
If we permit a mortgage to be noted on the register, unless the mortgagee otherwise consents or requests removal of the mortgagee’s details from the unit register, withdrawal proceeds will only be paid as directed by the mortgagee.
2.18 Use of Internet Services Security Access to your account via required to act upon any such types Whilst we have security procedures the internet of instructions and will not be liable in place, someone trying to use your You can tell us if you want to for any actions taken or omissions account or impersonate you may permanently stop using internet to act as a result of any contact us about your account and access for your CMT account by communication from the website or attempt to change your details and/or sending us an original signed email message you send to us. If make a withdrawal. request. We will block internet your operations depend on such access to your account on the communications with us, and such We will not be liable for any losses second Business Day after we communications are disrupted or which occur on instructions that you receive that request. Until your delayed, you may suffer losses. have not authorised but which appear account is blocked, all of these terms to be authorised by you. If you are joint account holders, and conditions continue to apply. We when one of you registers for the We may have additional can cancel or restrict your access at Internet Withdrawal Facility or the requirements for receiving any time and for any reason. BPAY Withdrawal Facility, both of instructions from you. You will be We will take all reasonable steps to you are taken to have agreed to any notified if this affects your make sure that the information that transactions on your account instructions. you access through our internet initiated via our internet service. service is up-to-date and correct, Electronic Transaction Code however we do not guarantee or Transacting via the internet You must keep your electronic warrant that your access to your We will not be liable for any losses transaction code (ETC) secret. You CMT account via our internet that occur because we did not should not disclose your ETC to service will be uninterrupted or receive an instruction or received an anyone or record it in a way which error free. instruction that appeared to be could affect its confidentiality. We incomplete or contain errors. If will not be liable for any losses that If access to the website is there are any government fees and may be incurred because we acted unavailable, delayed or limited, or if charges incurred by us in relation to on instructions received which used the website does not operate your use of this service we can your ETC, whether or not these quickly or efficiently, you may be debit these from your account. instructions were authorised by you. unable to transmit your instructions, transactions and other matters, or We can amend these terms and You must tell us immediately if you such instructions may not be conditions at any time without think that someone else has promptly executed or you may be notice to you. We recommend that accessed your account, or if unable to retrieve information on a you check these terms and someone else may know your ETC. timely basis. Accordingly, you agree conditions on a regular basis by We will stop access to the account that you will not use the website or accessing our website at www. and issue a new ETC as soon as email for the communication of any ords.com.au/document-repository. reasonably practicable. instructions to us that are critical or time sensitive. We will not be
14 Ord Minnett 2.19 BPAY withdrawal facility – Additional terms & conditions
1. Payments Payment Cut off Time on a BPAY Scheme, including those Billers 1. 1 We will not accept an order to Business Day; to whom your BPAY Payments are to be made. You must promptly tell us if: stop a BPAY Payment once you have (c) another financial institution instructed us to make that BPAY participating in the BPAY Scheme you become aware of any Payment. does not comply with its delays or mistakes in 1. 2 You should notify us immediately obligations under the BPAY processing your BPAY if you become aware that you may Scheme; or Payments; have made a mistake (except when (d) a Biller fails to comply with its if you did not authorise a BPAY you make an underpayment - for obligations under the BPAY Payment that has been made those errors see clause 1.6 below) Scheme. from your account; or when instructing us to make a BPAY if you think that you have been 1. 5 While it is expected that any Payment, or if you did not authorise fraudulently induced to make a delay in processing under this a BPAY Payment that has been BPAY Payment. made from your account. Clause 2 agreement for any reason set out in We will attempt to rectify any such describes when and how we will clause 1.4 will not continue for more matters in relation to your BPAY arrange for such a BPAY Payment than one Business Day, any such Payments in the way described in (other than in relation to an delay may continue for a this clause. However, except as set underpayment) to be refunded longer period. out in this clause 2 and clause 13, to you. 1.6 You must be careful to ensure we will not be liable for any loss or 1. 3 Subject to clause 10 - Cut off that you tell us the correct amount damage you suffer as a result of Times, Billers who participate in the you wish to pay. If you instruct us to using the BPAY Scheme. BPAY Scheme (as defined in clause make a BPAY Payment and you later The longer the delay between when 3.1 below) have agreed that a BPAY discover that the amount you told us you tell us of the error and the date Payment you make will be treated to pay was less than the amount of your BPAY Payment, the more as received by the Biller to whom it you needed to pay, you can make difficult it may be to perform the is directed: another BPAY Payment for the difference between the amount error correction. For example, we or (a) on the date you make that BPAY actually paid to a Biller (as defined in your Biller may not have sufficient Payment, if you tell us to make the clause 3.1 below) and the amount records or information available to BPAY Payment before our Payment you needed to pay. us to investigate the error. If this is Cut Off Time on a Business Day (as the case, you may need to defined in clause 15 below); or 2. Liability demonstrate that an error has occurred, based on your own (b) on the next Business Day, if you ePayment Code records, or liaise directly with the tell us to make a BPAY Payment 2.1 Ord Minnett Management has Biller to correct the error. after our Payment Cut Off Time on not signed up to the a Business Day, or on a non ePayment Code. Mistaken payments Business Day. 2.3 If a BPAY Payment is made to a Under this clause 2 you are liable for 1.4 A delay may occur in processing person or for an amount, which is an unauthorised or fraudulent a BPAY Payment where: not in accordance with your payment made from your CMT instructions (if any), and your (a) there is a public or bank holiday account. Your liability is the amount account was debited for the amount on the day after you tell us to of any unauthorised or of that payment, we will investigate make a BPAY Payment; fraudulent payment.
(b) you tell us to make a BPAY 2.2 We will attempt to make sure that Payment either on a day which is your BPAY Payments are processed not a Business Day or after the promptly by the participants in the
Additional Information Guide 15 the payment. However, if you were 2.5, then we will apply the principles make payments to them through responsible for a mistake resulting stated in clause 2.4. the BPAY Scheme (BPAY Payments). in that payment and we cannot If a BPAY Payment you have made We will tell you if we are no longer a recover the amount of that payment falls within both the types described in Member of the BPAY Scheme. For from the person who received it clauses 2.3 and 2.5, then we will apply the purposes of the BPAY Scheme, within 20 Business Days of us the principles stated in clause 2.5. we may also be a Biller. attempting to do so, you must pay us that amount. Indemnity 3.2 When you tell us to make a BPAY Payment, you must give us Unauthorised payments 2.7 You indemnify us against any the information specified in clause 6 loss or damage we may suffer due 2.4 If a BPAY Payment is made in below. We will then debit your to any claim, demand or action of accordance with a payment account with the amount of that any kind brought against us arising direction, which appeared to us to BPAY Payment. directly or indirectly because you: be from you or on your behalf but for which you did not give authority, (a) did not observe any of your 4. How to use the we will investigate the payment. obligations under these terms BPAY Scheme However, you must pay us the and conditions; or 4.1 BPAY Payments can be made amount of that unauthorised from your CMT account. payment if: (b) acted negligently or fraudulently in connection with this 4.2 The BPAY Withdrawal facility (a) we can not recover within 20 agreement. allows you to withdraw units by Business Days of us attempting making a BPAY payment rather than to do so that amount from the Biller consent withdrawing in writing. Once you person who received it, and 2.8 If you tell us that a BPAY have applied for this facility you will be sent, separately, your confidential (b) the payment was made as a Payment made from your account is electronic transaction code. You will result of a payment direction, unauthorised, you must first give us need to quote this code to access which did not comply with our your written consent addressed to your account. prescribed security procedures the Biller who received that BPAY for such payment directions. Payment, consenting to us obtaining 4.3 If there is any inconsistency from the Biller information about between the terms and conditions Fraudulent payments your account with that Biller or the applying to the account and the BPAY Payment, including your 2.5 If a BPAY Payment is induced by BPAY terms and conditions, the customer reference number and the fraud of a person involved in the BPAY terms and conditions will such information as we reasonably BPAY Scheme, then that person apply to the extent of that require to investigate the BPAY should refund you the amount of inconsistency. The EFT Code of Payment. If you do not give us that the fraud-induced payment. Conduct does not apply. consent, the Biller may not be However, if that person does not permitted under law to disclose to 4.4 The payer acknowledges that the refund you the amount of the us the information we need to receipt by a Biller of a mistaken or fraud-induced payment, you must investigate or rectify that BPAY erroneous payment does not or will bear the loss unless some other Payment. not constitute under any person involved in the BPAY circumstances part or whole Scheme knew of the fraud or would 3 BPAY Scheme satisfaction of any underlying debt have detected it with reasonable owed between the payer and that 3.1 We are a member of the BPAY diligence, in which case that person Biller. must refund you the amount of the Scheme. fraud-induced payment. The BPAY Scheme is an electronic payments scheme through which Resolution principles you can ask us to make payments 2.6 If a BPAY Payment you have on your behalf to organisations made falls within the type described (Billers) who tell you that you can in clause 2.4 and also clause 2.3 or
16 Ord Minnett 5. Valid payment direction 10. Cut-off times prohibited by those laws or that We will treat your instruction to If you tell us to make a payment code, this clause is to be read as if it make a BPAY Payment as valid if, before the time specified below, it were varied to the extent necessary when you give it to us you comply will in most cases be treated as to comply with those laws or that with the security procedures having been made on the same day. code or, if necessary, omitted. specified in this Guide. Cut-off times: 11.00am on a We are not liable for any Business Day consequential loss or damage you 6. Information you must give us suffer as a result of using the BPAY The information you must give us to However, the payment may take Scheme, other than due to any loss instruct us to make a BPAY Payment is: longer to be credited to a Biller if or damage you suffer due to our you tell us to make a Payment on a negligence or in relation to any (a) your electronic transaction code Saturday, Sunday or a public holiday breach of a condition or warranty must be quoted. or if another participant in the BPAY implied by law in contracts for the You acknowledge that we are not Scheme does not process a supply of goods and services and obliged to effect a BPAY Payment if Payment as soon as they receive which may not be excluded, you do not give us all of the above its details. restricted or modified at all or only information or if any of the to a limited extent. information you give us is 11. When a Biller cannot inaccurate. process a payment 14. Privacy If we are advised that your payment 14.1 If you register to use the BPAY 7. Payment queries cannot be processed by a Biller, we Scheme, you agree to our disclosing Ord Minnett Management is a will: to Billers nominated by you and if member of the Financial (a) advise you of this; necessary the entity operating the Ombudsman Service. BPAY Scheme (BPAY Pty Ltd) or any (b) credit your account with the other participant in the BPAY Please refer to the complaints amount of the BPAY Payment; Scheme and any agent appointed by information in section 8 of the and any of them from time to time, CMT PDS. (c) take all reasonable steps to including Cardlink Services Limited, assist you in making the BPAY that provides the electronic systems 8. Changes to terms Payment as quickly as possible. needed to implement the BPAY 8.1 We can change these terms at Scheme: any time. 12. Account records You should check your account (a) such of your personal information 8.2 We will tell you about any records carefully and promptly (for example your name, email changes by emailing the new report to us as soon as you become address and the fact that you are conditions to you and posting the aware of them, any BPAY Payments our customer) as is necessary to new conditions on our web site. that you think are errors or are BPAY facilitate your registration for or use of the BPAY Scheme; and 9. Suspension Payments that you did not authorise or you think were made by 9.1 We may suspend your right to (b) such of your transactional someone else without your information as is necessary to participate in the BPAY Scheme at permission. any time. process your BPAY Payments. Your BPAY Payments information 9.2 The circumstances in which we may 13. Consequential damage will be disclosed by BPAY Pty suspend your right to participate are: This clause does not apply to the Ltd, through its agent, to the extent that it is inconsistent with or Biller’s financial institution. Non compliance with any of contrary to any applicable law or these Terms & Conditions of the code of practice to which we have 14.2 You must notify us, if any of BPAY Withdrawal Facility; or subscribed. If those laws or that your personal information changes if you or someone acting on code would make this clause illegal, and you consent to us disclosing your behalf, is suspected of void or unenforceable or impose an your updated personal information acting fraudulently. obligation or liability which is to all other participants in the BPAY
Additional Information Guide 17 Scheme referred to in clause 14.1, 15. Definitions Payment Cut Off Time - with as necessary. Biller - see clause 3.1. respect to a Business Day, the time specified in clause 10 for that 14.3 You can request access to your BPAY Pty Ltd ABN 69 079 137 518 day. information held by us, BPAY Pty Ltd or its agent, Cardlink Services of Level 11, 1 York Street, Sydney, You - the account holder instructing Limited at their contact details listed NSW 2000. us to make BPAY Payments from in the Definitions clause 15. time to time. Any other Telephone (02) 82520500. grammatical form of the word 14.4 If your personal information Cardlink Services Limited ABN 60 “you” has a corresponding detailed above is not disclosed to 003 311 644 of Cnr. Park Road and meaning. BPAY Pty Ltd or its agent, it will not South Parade, Auburn, New South be possible to process your Wales, Australia. Telephone (02) requested BPAY Payment. 9646 9222.
2.20 Personal information
When opening a Fund account with If at any time you do not wish to We may also use and disclose the Ord Minnett Management, you receive information about other personal information you provide us provide us with personal information products and services, please for the purposes of complying with such as your full name, address and inform us in writing or contact our our obligations under the AML Act telephone numbers. Other personal Privacy Officer. in Australia. information collected may include We may also use and disclose the proof of identity, personal financial Providing the information personal information you provide us details, and tax file numbers. It is not compulsory to provide for the purposes of complying with Naturally we consider this certain personal information our obligations under the AML Act information to be confidential and requested by us. However, if some in Australia. take all reasonable steps to protect of the personal information is not it under Ord Minnett Management’s Disclosure to third parties provided by you, we may not be privacy policy. able to open an account for you. Your personal information may be Purpose of collecting disclosed to related parties of Ord Access to your information personal information Minnett Management, government You can correct and update the agencies, agents and contractors The primary purpose of collecting personal information we hold about including print service providers and personal information is for opening you by contacting your adviser or mail houses, our insurers, as and maintaining an account for you our Privacy Officer in writing. required by law and any person to (including facilitating distribution the extent necessary, in our view, in payments and communications to If you wish to access and review order to carry out your instructions. you). The information may also be personal information you must submit a written request outlining used for the secondary purposes of If you change your Instructing the relevant terms of reference for conducting market or customer Dealer or decide you no longer wish the attention of the Privacy Officer. satisfaction research, developing your Instructing Dealer to have We will endeavour to process and and identifying products that may access to personal information that respond to requests in a interest you and (unless you ask us we hold about you, then you need timely manner. not to) providing you with to advise us and your Instructing information about other products Dealer in writing. and services offered by Ord Minnett Management, related parties or other organisations.
18 Ord Minnett Contacts You may at any time request a copy Privacy Officer of our privacy policy from our Ord Minnett Management Limited Privacy Officer or by accessing it Level 8 NAB House from our website, www.ords.com. 255 George Street au. If you have any questions Sydney NSW 2000 regarding the Ord Minnett (GPO Box 2613 Sydney NSW 2001) Management privacy policy or how Telephone: + 61 2 8216 6400 your information is treated, Facsimile: + 61 2 8216 6411 please contact:
2.21 Structure of the Ord Minnett Fund The Fund is organised as a unit Custodian management of the Fund, or the trust. Ord Minnett Management is RBC Investor Services Trust has assets in which the Fund have the responsible entity of the Fund been appointed by us as the invested. which are governed by Constitutions custodian for the Fund (Custodian). You may, however, attend and vote which set out your and our rights Under the terms of a custody at meetings of unit holders. and obligations. A copy of the agreement the Custodian holds Constitution may be inspected at such assets and title documents of What are my liabilities under our Sydney office. the Fund as Ord Minnett the Constitutions? Management may direct. The Under the Constitution the liability Duties of the custody agreement sets out the Responsible Entity of a unit holder is limited to its Custodian’s role and its rights and investment in the Fund. As the responsible entity, we are obligations and includes a clause required to act in the best interests limiting its liability. The Custodian Can the Constitutions be of unit holders and comply with the does not guarantee the return of varied? Constitution of the Fund and the any investment, any tax deduction We may, by supplemental deed, Corporations Act. availability or performance of any amend the Constitutions. Under the investments available through the We are required to administer the Corporations Act, if the amendment Fund. It is not the role of the Fund, value the assets of the Fund, would adversely affect your rights, Custodian to protect the rights and issue units and meet withdrawal we must hold a meeting to have the interests of investors in the Fund requests in each case on the terms amendment approved. and the Custodian has no or conditions set out in the supervisory role in relation to the Constitutions. operation of the Fund. We can also be removed, replaced or retire in accordance with the What are my rights? provisions of the Constitutions and As a unit holder in the Fund, you are the Corporations Act. entitled to a beneficial interest in the Fund. However, this does not entitle you to participate in the
Additional Information Guide 19 Consents and other the PDS. Other than in relation to information the references made to it, the RBC Investor Services Trust (as Custodian takes no responsibility for Custodian) has given and, before the contents of this Guide or the the date of this Guide, has not PDS and makes no guarantee of the withdrawn, its written consent to be success of the CMT or the named as Custodian. The Custodian repayment of capital or any has not been involved in the particular rate of capital or preparation, nor authorised or income return. caused the issue, of this Guide or
3 Benefits of investing in the Fund
3.1 Trust reporting to investors
To keep you informed about your Annual statements Electronic statements investment, we will send you the After the end of each financial year, You may request that the following information. the following will be available to you: statements detailed above are delivered to you electronically, rather Transaction and periodic 1 Income Tax statement than in paper form. To authorise and statements information instruct this please make this A statement for your CMT account This statement will assist you in nomination and provide your email will be sent every month showing completing your tax return and will address in the Client Information your transactions, the value of your detail any tax deducted and interest Section in the Application Form. investment, distributions within the earned. period, and any fees applicable. This Electronic Statements – statement will be sent to the postal 2 Audited financial Terms & Conditions address you provide unless you statements We will send statements to the have opted in for Electronic Audited finanical statement for the email address noted on the Statements. CMT will be available within 90 days account. However, if you wish to find out of 30 June. These statements can You will indemnify Ord Minnett about transactions other than through be found by visiting our website Management and the CMT for your monthly statement you may www.ords.com.au/document- any loss, damage or liability that access our website on www.ords. repository. may be suffered or incurred as a com.au or please call the Client result of acting in accordance Services Team on 1800 700 713. with your instructions to email statements.
20 Ord Minnett 3.2 Compliance Plan and Compliance Committee
Ord Minnett Management has a Ord Minnett Management has also compliance plan in place for the Fund established a compliance committee which has been lodged with ASIC. with two external members and one There are also documented internal member. Ord Minnett compliance review procedures that Management reports on its must conform to the requirements of compliance with the compliance the compliance plan. The plan and the plan to this committee on a procedures are in place to ensure that quarterly basis. we comply with our obligations under the Fund’ constitutions and the Corporations Act.
Additional Information Guide 21 4 Fees and costs
4.1 Fees and other costs
This document shows fees and other costs that you may be charged. These fees and costs may be deducted from your money, from the returns on your investment or from the fund assets as a whole. Taxes and insurance costs are set out in another part of this document. You should read all the information about fees and costs because it is important to understand their impact on your investment.
Type of fee or cost Amount How and when paid Fees when your money moves in or out of the Fund Establishment fee: The fee to Nil Not applicable open your investment Contribution fee: The fee on Nil Not applicable each amount contributed to your investment Withdrawal fee: The fee on Nil Not applicable each amount you take out of your investment Termination fee: The fee to Nil Not applicable close your investment Management costs The fees and costs for Responsible Entity fee of The Responsible Entity Fee is accrued daily and is managing your investment up to 0.87% per annum reimbursed out of the Fund on a quarterly basis. (including GST less RITC) Reimbursable Expenses are accrued daily and are usually of the asset value of the paid out of the Fund on a quarterly basis, although they may Fund (Responsible Entity be reimbursed out of the Fund as they arise. Fee); and up to 0.29% per annum (including GST less Further details on the Responsible Entity Fee and RITC) of the asset value of Reimbursable Expenses are provided in the “Additional the Fund for expenses in Explanation of Fees and Costs” section in this Section 4. operating the Fund for which we are entitled to be reimbursed (Reimbursable Expenses).
Service fees* Investment switching fee: Nil Not applicable The fee for changing investment options
* Other Service Fees apply (see ‘Service fees for the CMT’ in section 4.7 for more information).
22 Ord Minnett Additional Explanation of Fees and Costs 4.2 Management Cost
The management cost for the Fund the establishment or covers the general administration maintenance of cheque and other and management of the Fund. payment facilities;
Under the Fund constitution, we are printing certificates, accounts, entitled to recover all expenses distribution statements and incurred in the proper performance cheques; of our duties in respect of the Trust. postage of accounts and other documents to unit holders; Reimbursable expenses include costs for: maintaining accounting records and keeping the register; and disbursements in connection other aspects of the with the acquisition or disposal of administration of the Fund. investments in the Fund; We reserve the right to recover audit of the Fund’s accounts; unusual Fund expenses such as, postage and all duties, taxes, without limitation, expenses levies and other charges in associated with convening and relation to payments to and from holding unit holder meetings. unit holders;
4.3 Differential Fees
We may agree with investors who the management costs. Please are “wholesale clients” (as defined contact the Client Services Team on in the Corporations Act) to rebate or 1800 700 713 should you require waive some of the management further information on fees costs on a case by case basis. Ord and costs. Minnett group employees may be entitled to a discount of up to all of
Additional Information Guide 23 4.4 Product access payments To the extent that an operator of a our management costs. These master fund or wrap account amounts are paid by us from our through which a Fund is made own resources and are not an available is permitted by law to additional cost to investors. receive fee rebates and/or negotiated one-off payments, we may pay such amounts to such an operator, up to the full amount of
4.5 Service fees for the CMT
The following fees relate to the Guide. However, should we decide various payment facilities available to increase our fees for any reason when you invest in units in the we will notify you 30 days prior to Fund. Please see the section on the change. “Investor Information” for details of these facilities.
It is not our intention to increase any of the service fees below for 12 months following the date of this
24 Ord Minnett Service Fees Personal Cheque books 100 cheques $32.94 50 cheques $15.99 25 cheques $10.25 Personal Deposit books $10.25 Print and Post of Monthly CMT Statement $2.50 Print and Post of Annual CMT Financial Report $6.00 Personal cheque presentment fee Nil Stop payment on personal cheque $10.00 each Dishonour fee on personal cheque $22.00 each Dishonour of Direct Debit $22.00 each Dishonoured cheque deposits $12.00 each Dishonour of deposit via Regular Savings Plan $2.75 each Cheque Withdrawals $22.00 each Telegraphic transfers – AUD* $33.00 each Telegraphic transfers - Other Currency* $55.00 each RTGS (intra day transfer of cleared funds) Australian residents $33.00 each Transaction trace request $20.00
All the above fees include GST *Certain telegraphic transfer payments cannot be made to some countries and/or in certain currencies. For further information contact our service centre on 1800 700 713
4.6 Withdrawal Fee
We are entitled to charge a fee of a further quarter of one cent quarter of one cent (excluding GST) (including GST) per unit if your per unit in relation to any withdrawal request is for less than withdrawals made for units which 1000 units or the dollar value of your have been issued to you for less withdrawal is less than $1,000. than 30 days before you make a However, we do not currently withdrawal request. In addition to charge either of these fees. this, we are entitled to charge a
Additional Information Guide 25 5 Taxation
The following information only The application of taxation laws comments on the Australian income depends upon an investor’s tax implications for Australian individual circumstances. resident individual investors who Accordingly, we strongly hold their units in the Fund as long recommend that you obtain term investments on capital professional taxation advice on the account. For other types of taxation implications of investing in investors, the taxation treatment the Fund as they apply to your outlined below may not apply. The circumstances. Further, if you are information is based on current laws a non-resident investor, you should and their interpretation. Taxation law note that taxation laws in other is complex and is liable to change at countries differ from Australian any time. tax law.
5.1 Income tax
As you will appreciate, there are year. This is to ensure that the Fund taxation implications of investing in itself does not become liable for the Fund. To assist you, we will income tax. provide an annual statement that You should note that even though contains details of the tax you may receive your income components of your net income payment after 30 June, it is taxable from the Fund and any Australian in the year that it was earned, even tax deducted from your if it is reinvested. distributions.
We intend to distribute all of the net income of the Fund each financial
5.2 Pay as You Go (PAYG)
For purposes of calculating PAYG instalments, unit holders in the Fund are required to include in their instalment income any amounts distributed or applied for their benefit in the period the benefit was received.
26 Ord Minnett 5.3 Non-resident unit holders
Appropriate statutory deductions of Australian tax will be made from distributions to non-residents (including reinvestments) where applicable.
5.4 Goods and Services Tax
The Fund has registered for GST. No subject to GST. However, the Fund GST will be imposed on the issue or claims a RITC (effectively a refund) withdrawal of units in the Fund and calculated as a percentage of the receipt of distributions. We reserve GST paid. We recommend that you the right to charge GST where seek your own professional advice applicable. on how GST will impact your investment in the Fund. Fees paid by the Fund to Ord Minnett Management will be
5.5 Transaction taxes
Unit holders may be liable to pay duty on transfers of units.
5.6 Tax File Number (“TFN”)
You have the choice of whether or instead of a TFN where units are not to provide us with your TFN or held in the course or furtherance of appropriate exemption details. If you an enterprise. do not, we are required to withhold The Application Form for the Fund tax from your income distributions makes provision for you to quote at the highest marginal rate plus the your TFN, ABN or exemption details. Medicare levy. The TFN rules do not apply to Business investors may quote an non-residents. Australian Business Number (ABN)
5.7 Social Security
You should be aware that an investment in the Fund could affect your entitlement to social security benefits. If this applies to you, we recommend that you seek specific advice from your taxation adviser or Centrelink.
Additional Information Guide 27
Ord Minnett Offices
Sydney (Head office) Level 8, 255 George Mackay 45 Gordon Street, Street, Sydney NSW 2000, Mackay QLD 4740, Tel: (07) 4969 4888, Tel: (02) 8216 6300, Fax: (02) 8216 6311 Fax: (07) 4969 4800 Adelaide Level 5, 100 Pirie Street, Melbourne Level 7, 161 Collins Street, Adelaide SA 5000, Tel: (08) 8203 2500, Melbourne VIC 3000, Tel: (03) 9608 4111, Fax: (08) 8203 2525 Fax: (03) 9608 4142 Brisbane Level 31, 10 Eagle St, Newcastle 426 King Street, Brisbane QLD 4000, Tel: (07) 3214 5555, Newcastle NSW 2300, Tel: (02) 4910 2400, Fax: (07) 3214 5550 Fax: (02) 4910 2424 Buderim, Sunshine Coast Perth Level 27, 108 St Georges Terrace, 1/99 Burnett Street, Buderim QLD 4556, Perth, WA 6000 Tel: 1800 517 411 Tel: (07) 5430 4444, Fax: (07) 5430 4400 Hong Kong (International) Canberra 101 Northbourne Avenue, 1801 Ruttonjee House, 11 Duddell Street, Canberra ACT 2600, Tel: (02) 6206 1700, Central, Hong Kong, Tel: +852 2912 8980, Fax: (02) 6206 1720 Fax: +852 2813 7212 Gold Coast Level 7, 50 Appel Street, Surfers Paradise QLD 4217, Tel: (07) 5557 3333, Fax: (07) 5574 0301
0612_2102 Additional_Info_Guide ords.com.au