Pendal Managed Cash Fund (APIR: WFS0245AU, ARSN: 088 832 491)
Increase to the Fund’s management fee effective 1 October 2022
Effective 1 October 2022, the management (issuer) fee for the Pendal Managed Cash Fund (Fund) will increase from 0.12% p.a. to 0.22% p.a.
Why is the management fee increasing?
Since 2020, Australia has experienced historically low official cash rates due to the economic impact of Covid-19. On 1 July 2020, Pendal temporarily reduced its management fee for this Fund from 0.22% p.a. to 0.12% p.a. Although originally intended as a 12-month fee reduction, the lower management fee has continued to apply in light of the continued lower cash rates.
The management fee will increase to its original rate of 0.22% p.a. effective 1 October 2022.
There are no other changes to the Fund.
An updated Product Disclosure Statement (PDS) was issued for the Fund on 26 August 2022 and is available on www.pendalgroup.com. If you would like a hard copy of the PDS, please contact us.
This Important Update has been prepared by Pendal Fund Services Limited (PFSL) ABN 13 161 249 332, AFSL No 431426 and the information contained within is current as at 26 August 2022. It is not to be published, or otherwise made available to any person other than the party to whom it is provided.
PFSL is the responsible entity and issuer of units in the Pendal Fund specified in this Important Update. A PDS is available for the Fund and can be obtained by calling 1800 346 821 or visiting www.pendalgroup.com. You should obtain and consider the PDS before deciding whether to acquire, continue to hold or dispose of units in the Fund. An investment in the Fund is subject to investment risk, including possible delays in repayment of withdrawal proceeds and loss of income and principal invested.
This Important Update is for general information purposes only. It should not be considered as a comprehensive statement on any matter and should not be relied upon as such. It has been prepared without taking into account any recipient’s personal objectives, financial situation or needs. Because of this, before acting on this information recipients should consider its appropriateness having regard to their individual objectives, financial situation and needs. This information is not to be regarded as a securities recommendation.