We’ve decided to terminate Acadian Diversified Alpha in accordance with the constitution on the basis that it is in the best interests of members having regard to recent market volatility including a depreciation in the Australian dollar and decline in value of some of the underlying securities.
We've therefore suspended switches and redemptions for each investment option* listed below as at 3pm on 20 March 2020. Applications received after 3pm on 19 March 2020 in respect of any of the investment options will not be processed. We have also terminated the investment options in Wholesale Mezzanine (Class A) and FirstChoice Wholesale Investments at 2.55pm on Monday 23 March 2020. The investment options in FirstChoice Wholesale Personal Super and FirstChoice Wholesale Pension will be closed on 28 April 2020.
The table below details the options to be terminated and closed:
|Product||Investment options*||APIR code||Legal Name||ARSN|
|Wholesale Mezzanine (Class A)||Acadian Diversified Alpha – Class A||FSF1811AU||Commonwealth Specialist Fund 43||613 262 909|
|FirstChoice Wholesale Investments||Acadian Wholesale Diversified Alpha||FSF6761AU||Colonial First State Investment Fund 57||617 440 669|
|FirstChoice Wholesale Personal Super||Acadian Wholesale Diversified Alpha||FSF1905AU||NA||NA|
|FirstChoice Wholesale Pension||Acadian Wholesale Diversified Alpha||FSF2779AU||NA||NA|
How will this impact me?
We will not process any switches or redemption requests received after 3pm on 20 March 2020. If we receive an application after 3pm on 19 March 2020, we’ll invest the funds into the Colonial First State Wholesale Strategic Cash option^.
||Where will my funds go?
|FirstChoice Wholesale Investments & Wholesale Mezzanine (Class A)
||The termination will be complete effective 28 April 2020.
||We will pay each unit-holders’ share of the net value of the proceeds from the termination to their nominated bank account by 28 April 2020.
|FirstChoice Wholesale Personal Super and Pension
||The closure will be complete effective 28 April 2020.
||We will invest each members’ share of the net value of the proceeds from the termination into the Colonial First State Wholesale Strategic Cash option within their account by 28 April 2020.We will invest each members’ share of the net value of the proceeds from the termination into the Colonial First State Wholesale Strategic Cash option within their account by 28 April 2020.
We’re here to help
If you would like more information regarding this termination, please speak to your financial adviser or call us on 13 13 36, Monday to Friday, 8am to 7pm, Sydney time.
We are experiencing higher than usual call volumes and extended wait times. We apologise for any inconvenience. If you need to speak with us, we will do our best to get back to you in a timely manner. We provide a range of online information, resources and self-service options for members which are available here. We encourage you to take a look at these before calling.
* Investment option means either a managed investment scheme or an investment option in a superannuation fund.
^ Excluding Wholesale Mezzanine applications, we will contact members regarding these applications.
Colonial First State Investments Limited ABN 98 002 348 352, AFSL 232468 (Colonial First State) is the issuer of FirstChoice Personal Super, FirstChoice Wholesale Personal Super, FirstChoice Pension, FirstChoice Wholesale Pension, FirstChoice Employer Super offered from the Colonial First State FirstChoice Superannuation Trust ABN 26 458 298 557. Colonial First State also issues interests in products made available under FirstChoice Investments and FirstChoice Wholesale Investments and interests in Wholesale Mezzanine Investments. Colonial First State is a wholly owned subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (the Bank). The Bank and its subsidiaries do not guarantee the performance of FirstChoice or the repayment of capital by FirstChoice. This document may include general advice but does not take into account your individual objectives, financial situation or needs. You should read the relevant Product Disclosure Statement (PDS) and Financial Services Guide (FSG) carefully, assess whether the information is appropriate for you, and consider talking to a financial adviser before making an investment decision. The PDS and FSG can be obtained from colonialfirststate.com.au or by calling us on 13 13 36.