This notice advises members of a change to the Management fee for the Tasmanian Perpetual Select Mortgage Fund (ARSN 089 139 382) from 1.00% p.a. (+ GST) to 1.10% p.a. (+ GST), which will be effective from 2 December 2019.
We are firmly committed to improving our overall returns and believe this change is in the best interests of our investors. For us to continue to increase performance we need to attract new loans at attractive rates and then undertake analysis and due diligence to ensure they meet our investment policies. This fee change will assist in covering these increasing costs being incurred in managing the fund. Whilst there will be a modest short-term drag on performance by increasing management fees, there should be a greater longer-term gain in performance returns.
We are happy to note that our fees have not increased since the Fund’s inception in 1999 and still remain some of the most competitive in our category. Our focus is on delivering competitive returns net of fees to you.
Current average annualised rates for the Select Mortgage Fund as at 24/10/19 are:
For more information, please refer to the PDS documentation available at tasmanianperpetual.com.au.
*Past performance is not a reliable indicator of future performance and averaged annualised rate in arrears for the periods ending 24/10/2019 assumes reinvestment of income and funds held for 12 months, more information on past performance is readily available on enquiry and at tasmanianperpetual.com.au. Performance is after fees and other costs. Tasmanian Perpetual Trustees Limited recommends that you refer to the Fund’s PDS and seek independent professional advice that takes into account your investment objectives, financial situation, particular needs and/or other personal circumstances, before deciding whether to acquire, or continue to hold the investment. Tasmanian Perpetual Trustees Limited, MyState Limited and MyState Bank Limited do not guarantee the repayment of capital or the performance of the Funds or any particular rates of return from the Funds. A Select Mortgage Fund investment is an investment in a managed investment fund, and is not a bank deposit. Accordingly, there is a higher risk of losing some or all of your money than is the case with a bank deposit. In respect of withdrawal periods, withdrawal rights and investment periods, please note that whilst we expect to meet redemption requests within the periods stated, these periods may be longer subject to the nature of the assets of the particular Fund, the particular Fund’s liquidity, the Fund’s constitution and the Law. For important information about Funds and their risks, please refer to the Fund’s PDS which is available free of charge at any Tasmanian Perpetual Trustees branch or online at tasmanianperpetual.com.au. Tasmanian Perpetual Trustees Limited ABN 97 009 475 629 AFSL 234630 Australian Credit Licence Number 234630 is a wholly owned subsidiary of MyState Limited ABN 26 133 623 962.