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Legg Mason Martin Currie Global Real Income Fund Product Disclosure Statement

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Legg Mason Martin Currie Global Real Income Fund Product Disclosure Statement Legg Mason Martin Currie Global Real Income Fund Product Disclosure Statement Issued by Legg Mason Asset Management Australia Limited (“Legg Mason Australia”) ABN 76 004 835 849 AFSL No. 240 827, part of Franklin Resources, Inc., operating as Franklin Templeton Legg Mason Martin Currie Global Real Income Fund (“Fund”) ARSN 641 334 803 APIR SSB5847AU Contents About this Product Disclosure Statement (“PDS”) 1. About Legg Mason Australia and Franklin Templeton This PDS is a summary of significant information and contains a number of references to important information (each of which forms part of the PDS). You should consider this information 2. How the Fund works before making a decision about the Fund. The information provided in the PDS is general information only, is not a 3. Benefits of investing in the Fund recommendation to invest in the Fund and does not take into account your personal financial situation or needs. You should 4. Risks of managed investment schemes obtain financial advice tailored to your personal circumstances. The offer to which this PDS relates is available only to persons 5. How we invest your money receiving the PDS (electronically or otherwise) in Australia. Investments are subject to risks, some of which are outlined in 6. Fees and costs this PDS. Legg Mason Australia (“Responsible Entity”, “we”, “our” or “us”) does not guarantee any payment of income or 7. How managed investment schemes are taxed repayment of capital or the performance of your investment in the Fund. It is important that you understand and accept the risks before you invest in the Fund. 8. How to apply The Responsible Entity is solely responsible for the management of the Fund, which includes day-to-day 9. Other information administration and making investment decisions. All terms in “bold” are defined terms under Interpretations and definitions in Section 9 of this PDS. Updated information The information in this PDS is up to date at the time of preparation. However, information relating to the Fund that is not materially adverse information is subject to change from time to time. We may update this information. Contact us Where the change is not considered materially adverse to investors, the information may be updated on our website Level 47, 120 Collins Street, (www.leggmason.com.au). For updated information about the Address Fund please contact us or consult your financial adviser. Melbourne VIC 3000 We will provide you with a paper copy of any updated information without charge upon request. If there is a change Client Service 1800 679 541 in information which we consider is materially adverse we will generally issue a new PDS. Website www.leggmason.com.au Email [email protected] 1 February 2021 About Legg Mason Australia and OneVue Fund Services Pty Ltd (ACN 107 333 308) has been 1 Franklin Templeton appointed as the registrar in relation to the Fund. The custodian and registrar may be changed from time to time. About Legg Mason Australia Legg Mason Australia is the Responsible Entity for this fund. A Unit holder’s interest in the Fund is represented by “Units”. A Legg Mason Australia is part of the Franklin Resources, Inc. Unit holder has an interest in the assets of the Fund as a whole, group operating as Franklin Templeton. The Responsible Entity subject to the liabilities of the Fund. A Unit holder does not have is solely responsible for the management of the Fund, which an interest in any particular asset of the Fund. includes day-to-day administration and making investment decisions. Investors can acquire interests in the Fund by applying for Units and can redeem from the Fund by making a withdrawal request About Franklin Resources, Inc in relation to the Units they hold. The price at which Units are Franklin Resources, Inc. is a global investment management acquired (“Application Price”) or redeemed (“Redemption organisation operating, together with its subsidiaries, as Price”) is determined in accordance with the Constitution. The Franklin Templeton listed on the New York Stock Exchange Application Price and the Redemption Price on a “Business (NYS:BEN). Franklin Templeton’s goal is to deliver better Day” are, in general terms, equal to the product of the Net outcomes by providing global and domestic investment Asset Value (“NAV”) of the Fund divided by the number of Units management to clients in over 160 countries. With employees on issue and: in over 34 countries, Franklin Templeton is headquartered in California and has over US$1.4 trillion in assets under • for the Application Price, adjusted up for transaction management as at 30 September 2020. Through specialised costs (called the “buy spread”); and teams, Franklin Templeton has deep expertise across all asset classes, including equity, fixed income, alternatives and multi- • for the Redemption Price, adjusted down for asset solutions. This includes a group of world-renowned transaction costs (called the “sell spread”). specialist investment managers such as Martin Currie, Western The Application Price and the Redemption Price are generally Asset and Brandywine Global. determined each Business Day. Investment manager The Application Price and the Redemption Price will increase as the market value of the Fund’s assets increases and will Martin Currie Australia (a division of Legg Mason Australia) is decrease as the market value of the Fund’s assets decreases. investment manager of the Fund. Martin Currie Australia benefits from the resources, oversight and support of Martin How we process your money Currie Investment Management, an active specialist equity investment manager headquartered in Edinburgh, Scotland. An investor can acquire Units by making an application for Founded in 1881, the investment manager has had a Units. An application for Units is made by lodging either an significant presence in Australia through Martin Currie “Application Form for New Investors” or an “Application Form Australia, dating back to 1954. for Existing Investors” (application forms). Martin Currie’s investment strategies are underpinned by the Application forms need to be received by the registrar and quality of its in-depth fundamental research and skilled portfolio appropriate funding provided to the Fund’s nominated bank construction, undertaken by its deeply resourced and highly account by 11.00am on a Business Day to receive that day’s experienced team of investment professionals. Martin Currie’s Application Price. Refer to Section 8 “How to apply” for more approach to active ownership is at the heart of its active information. management proposition, and its highly differentiated approach Classes of Units to the analysis of Environmental, Social and Governance (ESG) factors, is embedded in every part of the investment The Responsible Entity may offer or withdraw classes of Units. process to ensure they make better long-term decisions. Currently under this PDS one class of Units is offered: “Class A”. The Responsible Entity has the ability to issue further classes of Units under separate PDSs or other offer documents Please note: You should read the important information from time to time. about Legg Mason Australia and Franklin Templeton before making a decision. Go to the “About Legg Mason and Access to your money Franklin Templeton” section of the Additional Information A Unit holder can dispose of Units by making a redemption from Booklet which is available at www.leggmason.com.au. the Fund. A redemption is made by lodging a redemption request. The material relating to Legg Mason Australia and Franklin Templeton may change between the time when you read the Redemption requests need to be received by the registrar by PDS and the day when you acquire the Fund. 11.00am on a Business Day to receive that day’s Redemption Price. 2 How the Fund works Redemptions are typically paid within five Business Days although the Constitution allows us up to 21 Business Days or About the Fund and structure longer in certain circumstances. Redemption proceeds will be paid to an investor’s nominated bank account. The Fund is a registered managed investment scheme that is an unlisted Australian unit trust. The Fund comprises assets In some circumstances, Unit holders may not be able to which are acquired by the Responsible Entity in accordance redeem their Units within the usual period upon request. If the with the investment strategy for the Fund. The Fund is Fund becomes illiquid, for the purposes of the “Corporations governed by a “Constitution”. The terms and conditions of the Act”, then you may only redeem from the Fund in accordance Constitution are binding on each Unit holder (and all persons with the terms of a redemption offer (if any) made by the claiming through them). Responsible Entity in accordance with the Corporations Act. The Responsible Entity has appointed JPMorgan Chase Bank, There is no obligation on the Responsible Entity to make a N.A. (Sydney branch) (ABN 43 074 112 011) (JPMorgan) to redemption offer. The Responsible Entity anticipates that the provide custody and fund administration services. JPMorgan Fund will generally be liquid. has not been involved in the preparation of this document or caused or otherwise authorised the issue of this document. \ Minimum investment The material relating to the acquisition and disposal of Unless otherwise determined by us, the minimum initial interest in the Fund may change between the time when you investment is $30,000. Additional investments can be made at read the PDS and the day when you acquire the Fund. any time. The minimum additional investment amount is $5,000. Benefits of investing in the Fund 3 Valuation of Fund assets and unit pricing Significant features The Fund’s assets are typically valued each Business Day. Unit prices are usually calculated each Business Day. We may The Fund seeks to provide a growing income stream by declare Unit prices more or less frequently or delay calculation investing in a diversified portfolio of listed real asset securities in certain circumstances.
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