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Mainstream Online Web Portal
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Increase to the Pendal Dynamic Income Fund estimated financial year 2023 transaction costs
December 22, 2023
News,
Increase to the Pendal Dynamic Income Fund (Fund) transaction costs
The Fund’s financial year ending 30 June 2023 (FY23) estimated transaction costs net of the amount recovered by the Fund’s buy-sell spread (net transaction costs) are 0.11% of the assets of the Fund. The estimated net transaction costs have increased from 0.04% p.a. of the assets of the Fund in financial year 2022.
Transaction costs are incurred when buying and selling the Fund’s underlying securities and may be incurred as a result of changes in a Fund’s investment strategy or investors entering or exiting the Fund.
When the Fund changes its investment portfolio, transaction costs are paid out of the Fund’s assets and are reflected in the daily unit price. They are not charged to you as an additional fee.
If you choose to enter or exit the Fund (to buy or sell units) some or all of the associated transaction costs will be recouped via the Fund’s buy-sell spread (being the difference between the Fund’s entry and exit unit prices).
The Fund’s estimated FY23 total transaction costs for the Fund were 0.16%. Of this amount, we estimate 0.05% was recouped via the buy-sell spread and 0.11% reduced the return of the Fund.
There has been no change to the management fee for any of the Fund’s classes of units.
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 22 December 2023. It is not to be published, or otherwise made available to any person other than the party to whom it is provided.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 Fund (ARSN 622 750 734). A Product Disclosure Statement (PDS) and Target Market Determination are available for the Fund and can be obtained by calling 1300 346 821. 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.
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