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Infinity eWRAP Select menu changes
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Infinity eWRAP Select menu changes
As part of our ongoing review of the Infinity eWRAP Select menu, we’ve made a number of adjustments to the Select menu as outlined below.
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Fund additions
The following funds were added to the Infinity Select menu in August 2017.
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Fund name
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APIR code
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Macquarie WSP International Infrastructure Securities Fund (Hedged)
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WFS0867AU
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K2 Wholesale Plus Australian Absolute Return Fund
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BTA0566AU
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Walter Scott Wholesale Plus Global Equity Fund
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BTA0542AU
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RARE Infrastructure Wholesale Plus Value Fund - Hedged
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BTA0543AU
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Nikko AM Wholesale Plus Australian Share Fund
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BTA0537AU
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Fund removals
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From 31 March 2018, we will be removing the following funds from the Select menu. These funds have an equivalent Wholesale Plus Fund which will remain available on the Select menu.
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Fund name
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APIR code
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Equivalent Wholesale
Plus APIR
Code
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Macquarie International Infrastructure Securities Fund (Hedged)
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MAQ0432AU
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WFS0867AU
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K2 Australian Absolute Return Fund
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KAM0101AU
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BTA0566AU
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Walter Scott Global Equity Fund
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MAQ0410AU
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BTA0542AU
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RARE Infrastructure Value Fund - Hedged
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TGP0008AU
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BTA0543AU
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Nikko AM-Tyndall Australian Share Wholesale Fund
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TYN0028AU
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BTA0537AU
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How the fund removals will impact your clients on the Select menu
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Clients can continue to make new or additional investments into these funds up until 30 March 2018.
From 31 March 2018, any Infinity Select clients still holding these funds can:
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continue holding their existing investments in these funds
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move to the Full menu if they wish to make additional investments into these funds.
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Any templates which include the funds being removed can no longer be linked to an Infinity Select account. Any regular buy or auto-invest excess cash in place for Infinity Select accounts that includes the funds being removed will fail to be processed.
Clients who are on Infinity eWRAP Core or Full menu are not impacted by this change.
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Action required
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Given the change to the Select menu, a transition notice period is in place in an effort to allow you to consider taking one of the below actions in your next review with your impacted clients:
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move any impacted clients to the Full menu if they wish to continue making additional investments into these funds (ie. on an ad hoc basis, via templating, regular buy or auto-invest excess cash arrangements), or
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amend any template, regular buy or auto-invest excess cash instruction to remove the relevant fund that’s being removed. You may want to consider replacing the relevant funds with the equivalent Wholesale Plus Fund that is now in the Infinity eWrap select menu.
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Disclosure updates and client communications
The Approved Product List will be updated to reflect these changes and an article will also be published on Investor Online and AdviserNET on Tuesday 3 April 2018.
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BTFM is the responsible entity and issuer of the following Investment Products:
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Asgard Managed Profiles, Separately Managed Accounts (Asgard Investment Funds Account)
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Elements Investment Account.
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Asgard is the operator of the following Investor Directed Portfolio Service (IDPS) Products:
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eWRAP Investment;
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Infinity eWRAP Investment;
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Asgard is the administrator of the Super Products, Investment Products and IDPS Products. A Product Disclosure Statement (PDS) or Financial Services Guide (FSG) is available for all Asgard accounts and services and can be obtained by calling 1800 998 185. Client should obtain and consider the PDS or FSG (as required) before deciding whether to open, continue to hold or close your Asgard account or service.
Asgard is a member of the Westpac Banking Corporation (Westpac) group of companies. Unless otherwise disclosed in the offer document for the relevant financial product, investments through an Asgard account or service are not deposits with, investments in, or other liabilities of, Westpac or any other company within the Westpac Group. They are subject to investment risk, including possible delays in repayment and loss of income and principal invested. Neither Westpac nor any other company within the Westpac Group stands behind or otherwise guarantees the capital value or investment performance of the specific investments you select or Asgard accounts or services generally.
This material has been prepared for use by advisers only. It must not be made available to any retail client and any information contained in it must not be communicated to any retail client or attributed to any company in the Westpac Group. It is not the intention of Asgard or any member of the Westpac Group that this publication be used as the primary source of the readers’ information but as an adjunct to their own resources and training. The information provided is factual only and does not constitute financial product advice. Before acting on it, you should seek independent legal and tax advice about its appropriateness to your client’s objectives, financial situation and needs.
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