Notice of PDS Update: Pendal Funds

We have updated and reissued the Product Disclosure Statements (PDSs) for the following Pendal funds effective on and from Thursday, 6 June 2024: 

• Pendal Australian Equity Fund
• Pendal Australian Share Fund
• Pendal Focus Australian Share Fund
• Pendal Government Bond Fund
• Pendal Imputation Fund
• Pendal MidCap Fund
• Pendal Monthly Income Plus Fund
• Pendal Property Investment Fund
• Pendal Property Securities Fund
• Pendal Short Term Income Securities Fund
• Pendal Smaller Companies Fund

(the Funds).

The following is a summary of the key changes reflected in the PDS for each Fund.

Updates to significant risks disclosure

Each Fund’s investment strategy involves specific risks.

We have updated the significant risks disclosure applicable to each Fund to ensure that our disclosure continues to align with the nature and risk profile of each Fund and the current economic and operating environment.

Updates to ongoing annual fees and costs disclosure

The estimated ongoing annual fees and costs for the Funds have been updated to reflect financial year 2023 fees and costs. These include changes to estimated management costs, estimated performance fees (where applicable) and estimated transaction costs.

We now also disclose the maximum management fee and performance fee (where applicable) we are entitled to charge under each Fund’s Constitution.

Additional information on how to apply for direct investors

We have provided additional information for non-advised investors (investors without a financial adviser) investing directly in each Fund who may also be required to complete a series of questions as part of their online Application, to assist us in understanding whether they are likely to be within the target market for the Fund. 

Updates to our complaints handling process

We have provided additional details about our complaints handling process and the Australian Financial Complaints Authority.