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Bendigo SmartStart

Withdrawals - End of financial year 2016 unit price calculations and processing delay

From 1 July 2016 the availability of unit prices for some managed fund investment options will be delayed while the applicable investment managers conduct their end of financial year income distribution calculations.

If current prices on an investment are not available from the investment manager, the processing of any full switch or withdrawal request will also be delayed until a price is issued and the applicable investment manager completes the transaction request. We anticipate the unit prices will be available for all managed funds and outstanding transactions will be processed by the end of July.

If your withdrawal amount requested is less than 70% of your total account balance we will process the request even if you have insufficient funds available in your Cash at Bank. This will not delay the request, however your Cash at Bank may temporarily go into negative and interest will be charged at the daily rate applicable to the Cash at Bank until such time as the balance is restored.

If you do not wish to have your withdrawal processed until you have sufficient funds in your Cash at Bank and therefore avoid it going into negative you should indicate this on the withdrawal form.

For all queries, please contact our Client Services Team on 1800 033 426, or email us at superannuation@bendigobank.com.au
Withdrawals - End of financial year 2015 unit price calculations and processing delay

From 1 July 2015 the availability of unit prices for some managed fund investment options will be delayed while the applicable investment managers conduct their end of financial year income distribution calculations.

If current prices on an investment are not available from the investment manager, the processing of any full switch or withdrawal request will also be delayed until a price is issued and the applicable investment manager completes the transaction request. We anticipate the unit prices will be available for all managed funds and outstanding transactions will be processed by the end of July.

If your withdrawal amount requested is less than 70% of your total account balance we will process the request even if you have insufficient funds available in your Cash at Bank. This will not delay the request, however your Cash at Bank may temporarily go into negative and interest will be charged at the daily rate applicable to the Cash at Bank until such time as the balance is restored.

If you do not wish to have your withdrawal processed until you have sufficient funds in your Cash at Bank and therefore avoid it going into negative you should indicate this on the withdrawal form.

For all queries, please contact our Client Services Team on 1800 033 426, or email us at superannuation@bendigobank.com.au

December 2014 - End of year unit price calculations and processing delay

The availability of unit prices for some managed fund investment options may be delayed while the applicable investment manager conducts its mid-year income distribution calculations.

If current prices on an investment are not available from the investment manager, the processing of any switch or withdrawal request you make will also be delayed until a price is issued and the applicable investment manager completes the transaction request.

We anticipate the unit prices will be available for all managed funds and outstanding transactions will be processed by mid to late January.

For all queries, please contact our Customer Service Centre on 1800 033 426, email us at superannuation@bendigobank.com.au or call your financial adviser.

December 2014 - Unit price and income distribution for managed fund investment options

Some of the managed fund investment options pay income distributions for the period ending 31 December 2014.

When a managed fund pays an income distribution, this will usually result in a decrease in the unit price fo that managed fund, as the previous unit price would have incorporated the distribution entitlement up until the distribution date. This effectively means that the value of your managed fund investment option may reduce at the end of a distrubution period.

Distributions from your managed fund investment options are allocated to your Cash at Bank and will be invested in accordance with your current investment strategy.

The date that the managed fund unit prices decreases and the distribution date my be different.

For all queries, please contact our Customer Service Centre on 1800 033 426, email us at superannuation@bendigobank.com.au or call your financial adviser.

November 2014 - Process Changes: Enhanced switching functionality

We are pleased to advise that from today you will see changes to the way we process investment switches for managed fund investment options.

To provide you with a more efficient service, any existing transactions already in progress (also referred to as ‘pending transactions’) will not be taken into account when processing your new switching request, unless you instruct us otherwise.

  • Investment switching online

    When entering your switching request online, you will be notified if there are pending transactions in progress and will be provided with the following options:
    1. Automatically re-calculate investment instruction allocations to take into account the pending transactions; or
    2. To enter new investment allocations manually; or
    3. To wait for the pending transactions to be completed.
    If you choose to wait for the pending transactions to be completed, you will need to re-enter your switch request after the pending transactions have been finalised.

    If you have not already registered for online access, visit our website (www.sandhursttrustees.com.au/superannuation) and follow the links to register online.

    Example - switching with a pending transaction in progress
    Online - Switching with a pending transaction in progress

  • Investment Switching Instruction form

    Step 2 of the current Switching Instruction form allows you to indicate whether you wish to wait for all existing transactions to be completed before new instructions are processed. 

    If no direction is provided, existing transactions will not be taken into account. This may result in a different outcome to what you intended with your instructions, for example a balance remaining in an investment where you had intended to redeem 100%.

If you have any questions in relation to the above, please contact our Client Services Team on 1800 033 426 or email us at superannuation@bendigobank.com.au.

Update: End of temporary transaction suspension period for Bendigo SmartStart Super and Bendigo SmartStart Pension (collectively ‘the Plan’)

We have previously advised in April 2014 about our intention to simplify our investment structure by removing the SMF Master Pooled Superannuation Trust (MPST) from the Plan’s investment structure. We are pleased to confirm that the transfer of investments held via the MPST has been successfully completed and the temporary transaction suspension period has been lifted. Any requests that were received during the suspension period will now be processed and completed by 20 June 2014.

As we have completed the wind up, you will notice buy and sell transactions within your account and new holdings in your chosen managed funds. The overall account balance has not changed, however the allocation between managed funds and Cash at Bank may be slightly different. These changes can be viewed by logging into your account online.

Thank you for your patience and understanding during this period.

If you have any questions, please contact your financial adviser or our Customer Service Centre on 1800 033 426.

Your Personal Information

We are required to handle your personal information (including credit related personal information) in accordance with Australian privacy laws. On 12 March 2014 Australia’s privacy laws will change.

Although we have always taken great care to protect your personal information, we’ll be changing some of the ways we do things so that we comply with the new laws and so that you can feel even more assured about the safety of your information.

Some of the things that are changing are:

  • new rules about disclosing your personal information to overseas recipients;
  • new rules about using your personal information for direct marketing;
  • better, clearer, and more accessible complaints, access and correction procedures.

To reflect these changes we have updated our privacy policy. This policy outlines how we handle your information and your rights regarding the information we hold about you (including complaints, access and correction procedures). You can access our updated policy here.

To find out more about the changes to privacy laws visit www. oaic.gov.au.

Standard Risk Measures for Bendigo SmartStart Super

Sandhurst Trustees Limited (Sandhurst) has provided Standard Risk Measures (SRM) for each investment option within Bendigo SmartStart Super to assist members in making more informed investment decisions. This SRM calculation is based on industry guidelines set out in the paper issued by the Association of Superannuation Funds Australia and the Financial Services Council titled ‘Standard Risk Measure: Guidance Paper For Trustees’.

Sandhurst’s approach to assigning the SRMs is described in its Standard Risk Measure Methodology document.

To view assigned SRMs for each investment option, please click here.

Archived Fund News

Update: Temporary suspension period over in Bendigo SmartStart Super® and Bendigo SmartStart Pension

We are pleased to advise that all account operations within Bendigo SmartStart Super and Bendigo SmartStart Pension, have resumed on 29 January 2014. Any transaction requests received during the suspension period will now be processed in accordance with the instructions provided.

Thank you for your patience and understanding during this period.

If you have any queries, please contact our Customer Service Centre on 1800 033 426, email us at superannuation@bendigobank.com.au or call your financial adviser.

Income Protection - Stamp duty changes from 1 January 2014

The way of calculating stamp duty applicable to premium rates for Income Protection cover will change. Currently, stamp duty is charged on a set level of 8.5%. From 1 January 2014, stamp duty charged will depend on which state you live in.

If you have Income Protection cover, the new stamp duty calculations will take effect on 1 January 2014.

To view the new stamp duty rates and new insurance rate tables, please click here . The Income Protection rate tables are presented exclusive of stamp duty. Stamp duty will be added to the premium to determine the final annual premium payable.

Important: Temporary suspension period in Bendigo SmartStart Super® and Bendigo SmartStart Pension

From 1 January 2014 until 31 January 2014, transactions relating to the purchase and redemption of investment options within Bendigo SmartStart Super and Bendigo SmartStart Pension, which are part of the Bendigo Superannuation Plan ABN 57 526 653 420 (BSP) will be temporarily suspended to facilitate the below activities.

  • The transition of Bendigo superannuation (super) members from default super products or from default super investment strategies into the new Bendigo MySuper investment option of Bendigo SmartStart Super (refer to ‘What is MySuper?’ below for information); and
  • The transfer of BSP’s employer-sponsored division’s membership base to Bendigo SmartStart Super’s new employer-sponsored division.

Note: Any new contribution amounts received will be held in your Cash at Bank during this time. Should you wish to make a withdrawal from your super account, please provide your benefit payment request to us no later than 27 December 2013. All other activities including pension payments during this period will continue as normal. We anticipate that all account operations will resume as normal from 25 January 2014. We will post an update on our website if there are any changes to the temporary suspension period. We thank you for your understanding in advance and sincerely apologise for any inconvenience this may cause.

For all queries, please contact our Customer Service Centre on 1800 033 426, email us at superannuation@bendigobank.com.au or call your financial adviser.

What is MySuper?

From 1 January 2014, if a person has not chosen a super fund, their employer must pay their compulsory super contributions into a MySuper product. In addition, super fund trustees must gradually transition all existing members’ accounts which are currently in a default super product or default super investment strategy into a MySuper product.

MySuper products are intended to be low cost products that have a single, diversified investment strategy or a ‘lifecycle-style’ investment strategy, and fees applied in a prescribed manner. MySuper products are also required to offer eligible members basic default insurance cover on an opt-out basis. MySuper products can only be offered by authorised super funds.

We are excited to inform you that we have been authorised by APRA to offer Bendigo MySuper. Bendigo MySuper will be the default investment option in Bendigo SmartStart Super, our awarding winning low cost super solution.

A new Bendigo SmartStart Super Product Disclosure Statement , incorporating Bendigo MySuper, will be on issue from 1 January 2014.

ASIC MoneySmart factsheet on Self Managed Superannuation Funds (SMSF)

ASIC is concerned that consumers considering moving their superannuation into a private self managed superannuation fund (SMSF) are not fully aware of their legal responsibilities and the loss of protection that results from moving out of a regulated superannuation fund.

ASIC MoneySmart has produced a short factsheet on issues consumers should consider before moving to a SMSF. The factsheet provides:

  • basic information on the obligations of operating an SMSF;
  • key issues for consumers to address when considering setting up an SMSF;
  • brief details about the loss of protection moving funds out of a regulated superannuation fund.

ASIC is encouraging trustees of regulated superannuation funds to pass this factsheet on to its members who may be considering setting up an SMSF. Click here to access the MoneySmart Self-managed super factsheet.

2012 Annual Report

The Bendigo Superannuation Annual Report 2012 is available for viewing by clicking here.

If you would like to receive a printed copy of the report, please contact one of our Client Service Officers on 1800 033 426 or email us at superannuation@bendigobank.com.au.

Bendigo Wealth has today announced the release of Bendigo SmartStart Super®

Bendigo SmartStart Super offers clients a low cost, simple, easy to use accumulation superannuation plan with flexible insurance options and extras.

When you invest your super with Bendigo SmartStart Super you’ll benefit from:

  • Low cost and high customer support - fees are kept to a minimum.
  • Simplicity - it’s easy to use and you have access to simple and convenient investment options managed by reputable investment managers.
  • Core investment offering - a cash investment option and 10 ready-made diversified investment fund options.
  • Flexibility - offering a full suite of investment options designed to meet your risk profile, flexible contribution methods, and a number of online services.
  • Flexible insurance options and extras - including death only, death and total and permanent disablement and/or income protection.

Head of Sandhurst Trustees, Paul Rohan said:

“Sandhurst Trustees, one of the oldest and most experienced parts of the Bendigo business has developed a new, affordable and easy to understand superannuation product flexible enough to suit most Australians.

We designed and built SmartStart Super as part of our ongoing commitment across the Bendigo and Adelaide Bank group to provide solutions, however our customers choose to engage with us.

Customers can expect our traditional hassle-free service, ease of understanding, fast turnaround times and the flexibility they need to help them achieve their retirement savings goals”. Mr Rohan concluded.

For more information regarding Bendigo SmartStart Super click here or simply call us on 1800 018018.

New replacement product for existing Bendigo Super Easy members
As of 1 October 2011, the Bendigo Super Easy® Superannuation Plan has changed its name to Bendigo SmartStart Super® and has additional features. Refer to the above news release.


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Bendigo SmartOptions

Withdrawals - End of financial year 2016 unit price calculations and processing delay

From 1 July 2016 the availability of unit prices for some managed fund investment options will be delayed while the applicable investment managers conduct their end of financial year income distribution calculations.

If current prices on an investment are not available from the investment manager, the processing of any full switch or withdrawal request will also be delayed until a price is issued and the applicable investment manager completes the transaction request. We anticipate the unit prices will be available for all managed funds and outstanding transactions will be processed by the end of July.

If your withdrawal amount requested is less than 70% of your total account balance we will process the request even if you have insufficient funds available in your Cash at Bank. This will not delay the request, however your Cash at Bank may temporarily go into negative and interest will be charged at the daily rate applicable to the Cash at Bank until such time as the balance is restored.

If you do not wish to have your withdrawal processed until you have sufficient funds in your Cash at Bank and therefore avoid it going into negative you should indicate this on the withdrawal form.

For all queries, please contact our Client Services Team on 1800 033 426, or email us at superannuation@bendigobank.com.au
Withdrawals - End of financial year 2015 unit price calculations and processing delay

From 1 July 2015 the availability of unit prices for some managed fund investment options will be delayed while the applicable investment managers conduct their end of financial year income distribution calculations.

If current prices on an investment are not available from the investment manager, the processing of any full switch or withdrawal request will also be delayed until a price is issued and the applicable investment manager completes the transaction request. We anticipate the unit prices will be available for all managed funds and outstanding transactions will be processed by the end of July.

If your withdrawal amount requested is less than 70% of your total account balance we will process the request even if you have insufficient funds available in your Cash at Bank. This will not delay the request, however your Cash at Bank may temporarily go into negative and interest will be charged at the daily rate applicable to the Cash at Bank until such time as the balance is restored.

If you do not wish to have your withdrawal processed until you have sufficient funds in your Cash at Bank and therefore avoid it going into negative you should indicate this on the withdrawal form.

For all queries, please contact our Client Services Team on 1800 033 426, or email us at superannuation@bendigobank.com.au

February 2015 - Additional insurance policies available through Bendigo SmartOptions Super.

We are pleased to advise that you now also have the option to purchase cover from selected individual insurance policies (also referred to as Retail Insurance policies) using your super benefits.

If you wish to apply for insurance cover via one of the Retail Insurance policies, you will need to do so under the relevant product disclosure statement (PDS) for such policy, which is either available from your financial adviser or on this website by clicking here. These PDSs include the details of the offer, and the relevant terms and conditions. Your financial adviser can assist you with this process.

For more information on the current Retail Insurance policies available, and how to apply for them, speak to your financial adviser. Alternatively if you have any questions in relation to the above, you can call our Client Services Team on 1800 033 426 or email us at superannuation@bendigobank.com.au.

December 2014 - Fees and other costs for memebers who joined Bendigo SmartOptions Super™ or Bendigo SmartOptions Pension™ prior to 6 November 2014

The fees and other costs table provides an overview of the fees and costs that an existing member as at 6 November 2014 of Bendigo SmartOptions Super and Bendigo SmartOptions Pension will be charged until 1 July 2015.
Existing members can opt into the new fee arrangement outlined in the Bendigo SmartOptions Super and Bendigo SmartOptions Pension Product Disclosure Statements issued on 6 November 2014 by completing the Fees and Other Costs Amendment Form available on our website.

December 2014 - End of year managed fund unit price calculations and processing delay

The availability of unit prices for some managed fund investment options may be delayed while the applicable investment managed conducts its mid-year income distribution calculations.

If current prices on an investment are not available from the investment manager, the processing of any switch or withdrawal requests you make will also be delayed until a price is issued and the applicable investment manager completes the transaction request.

We anticipate the unit prices will be available for all managed funds and outstanding transactions will be processed by around mid to late January.

For all queries, please contact our Customer Service Centre on 1800 033 426, email us at superannuation@bendigobank.com.au or call your financial adviser.

December 2014 - Unit price and income distribution for managed fun investment options

Some of the managed fund investment options pay income distributions for the period ending 31 December 2014.

When a managed fund pays an income distribution, this willusually result in a decrease in the unit price of that managed fund, as the previous unit price would have incorporated the distribution entitlement up until the distribution date. This effectively means that the value of your managed fund investment option may reduce at the end of a distribution period.

Distributions from your managed fund investment options are allocated to your Cash at Bank and will be invested in accordance with your current investment stratergy.

The date that the managed fund unit prices decreases and the distribution date may be different.

For all queries, please contact our Customer Service Centre on 1800 033 426, email us at superannuation@bendigobank.com.au or call your financial adviser.

November 2014 - Process Changes: Enhanced switching functionality

We are pleased to advise that from today you will see changes to the way we process investment switches for managed fund investment options.

To provide you with a more efficient service, any existing transactions already in progress (also referred to as ‘pending transactions’) will not be taken into account when processing your new switching request, unless you instruct us otherwise.

  • Investment switching online

    When entering your switching request online, you will be notified if there are pending transactions in progress and will be provided with the following options:
    1. Automatically re-calculate investment instruction allocations to take into account the pending transactions; or
    2. To enter new investment allocations manually; or
    3. To wait for the pending transactions to be completed.
    If you choose to wait for the pending transactions to be completed, you will need to re-enter your switch request after the pending transactions have been finalised.

    If you have not already registered for online access, visit our website (www.sandhursttrustees.com.au/superannuation) and follow the links to register online.

    Example - switching with a pending transaction in progress
    Online - Switching with a pending transaction in progress

  • Investment Switching Instruction form

    Step 2 of the current Switching Instruction form allows you to indicate whether you wish to wait for all existing transactions to be completed before new instructions are processed. 

    If no direction is provided, existing transactions will not be taken into account. This may result in a different outcome to what you intended with your instructions, for example a balance remaining in an investment where you had intended to redeem 100%.

If you have any questions in relation to the above, please contact our Client Services Team on 1800 033 426 or email us at superannuation@bendigobank.com.au.

12 September 2014 – Termination of Howard Wholesale Mortgage Fund (HOW0005AU) (the Fund)

Fidante Partners Limited, the responsible entity of the Fund, have announced that the Fund has been terminated on 17 July 2014, resulting in the commencement of the wind up process which includes the return of final capital to its unitholders. Sandhurst expects Fidante to pay the final capital and final distribution for the Fund in September 2014. If this Fund is included in your current investment portfolio, the termination proceeds will be initially deposited into your Cash at Bank. Any amount in excess of the targeted Cash at Bank holding will be invested in accordance with your standing investment strategy.
To view Fidante’s notice of termination, please click here.

July 2014 - Defined fees for superannuation

From 1 July 2014, Sandhurst is required by Superannuation law, to provide a description of the categories of fees charged by its superannuation products. The new fees and costs definitions can be found in more detail here.

1 July 2014 - Appointment of new investment manager and change to the asset allocation benchmarks for Zurich Investments Managed Growth Fund (ZUR0059AU)

Zurich Investment Management Limited has appointed Wells Capital Management, Inc. as a new investment manager for the International Equities (emerging markets) asset class in the Zurich Investments Managed Growth Fund.

In addition, Zurich Investments Managed Growth Fund has changed its asset allocation benchmarks as shown below:

These changes were both effective 1 July 2014.

Asset Class Old Asset Allocation Benchmark % New Asset Allocation Benchmark %
Australian Shares 32.5 32
International Shares 23.5 26
Australian property securities 3 2
Global property securities 6 3
Alternative investments 7 9
Total growth assets 72 72
Fixed Interest securities 24 24
Cash 4 4
Total income assets 28 28

 

If this investment is included in your current investment strategy, you should read the new product disclosure statement available on our Disclosure Documents.

Update: End of temporary transaction suspension period for the Bendigo Superannuation Plan (BSP)

We have previously advised in April 2014 about our intention to simplify our investment structure by removing the SMF Master Pooled Superannuation Trust (MPST) from BSP’s investment structure. We are pleased to confirm that the transfer of investments held via the MPST has been successfully completed and the temporary transaction suspension period has been lifted. Any requests that were received during the suspension period will now be processed and completed by 20 June 2014.

As we have completed the wind up, you will notice buy and sell transactions within your account and new holdings in your chosen managed funds. The overall account balance has not changed, however the allocation between managed funds and Cash at Bank may be slightly different. These changes can be viewed by logging into your account online.

Thank you for your patience and understanding during this period.

If you have any questions, please contact your financial adviser or our Customer Service Centre on 1800 033 426.

Your Personal Information

We are required to handle your personal information (including credit related personal information) in accordance with Australian privacy laws. On 12 March 2014 Australia’s privacy laws will change.

Although we have always taken great care to protect your personal information, we’ll be changing some of the ways we do things so that we comply with the new laws and so that you can feel even more assured about the safety of your information.

Some of the things that are changing are:

  • new rules about disclosing your personal information to overseas recipients;
  • new rules about using your personal information for direct marketing;
  • better, clearer, and more accessible complaints, access and correction procedures.

To reflect these changes we have updated our privacy policy. This policy outlines how we handle your information and your rights regarding the information we hold about you (including complaints, access and correction procedures). You can access our updated policy here.

To find out more about the changes to privacy laws visit www. oaic.gov.au.

Archived Fund News

Standard Risk Measures for the Bendigo Superannuation Plan

Sandhurst Trustees Limited (Sandhurst) has provided Standard Risk Measures (SRM) for each investment option within the Bendigo Superannuation Plan to assist members in making more informed investment decisions. This SRM calculation is based on industry guidelines set out in the paper issued by the Association of Superannuation Funds Australia and the Financial Services Council titled ‘Standard Risk Measure: Guidance Paper For Trustees’.

Sandhurst’s approach to assigning the SRMs is described in its Standard Risk Measure Methodology document.

To view assigned SRMs for each investment option, please click here.

Changes to the timing of interest payments

Monthly bank interest is now credited to a member’s account on the first business day of the following month, which is the same day it is received. Previously, monthly interest payments were credited on the last business day of the month.

This change was effective November 2013 with the November interest payment made on the first business day of December 2013. As a result, members will only receive 11 interest payments for the 2013/2014 financial year.

If you have any queries, please contact our Customer Service Centre on 1800 033 426 or email us at superannuation@bendigobank.com.au

Income Protection - Stamp duty changes from 1 January 2014

The way of calculating stamp duty applicable to premium rates for Income Protection cover will change. Currently, stamp duty is charged on a set level of 8.5%. From 1 January 2014, stamp duty charged will depend on which state you live in.

If you have Income Protection cover, the new stamp duty calculations will take effect on 1 January 2014.

To view the new stamp duty rates and new insurance rate tables, please click here . The Income Protection rate tables are presented exclusive of stamp duty. Stamp duty will be added to the premium to determine the final annual premium payable.

Important update: Bendigo Superannuation Plan

Temporary transaction suspension period in Bendigo Superannuation Plan

From 1 January 2014 until 14 January 2014, all transactions* in the Bendigo Superannuation Plan ABN 57 526 653 420 (BSP) will be temporarily suspended to facilitate the below activities.

  • The transition of Bendigo superannuation (super) members from default super products or from default super investment strategies into the new Bendigo MySuper investment option of Bendigo SmartStart Super (refer to ‘What is MySuper?’ below for information); and
  • The transfer of BSP’s employer-sponsored division’s membership base to Bendigo SmartStart Super’s new employer-sponsored division.

*Note: Pension payments and all non-transactional activities such as account enquiries and changes to contact details during this period will continue as per normal. However, should you wish to amend your pension payment details and require the revised pension payment in January, please provide your request to us no later than 24 December 2013 to ensure we can facilitate the payment. Should you wish to make a withdrawal from your super account, please provide your benefit payment request to us no later than 27 December 2013.

We anticipate that all account operations will resume as normal from 15 January 2014. We will post an update on our website if there are any changes to the temporary suspension period. We thank you for your understanding in advance and sincerely apologise for any inconvenience this may cause.

What is MySuper?

From 1 January 2014, if a person has not chosen a super fund, their employer must pay their compulsory super contributions into a MySuper product. In addition, super fund trustees must gradually transition all existing members’ accounts which are currently in a default super product or default super investment strategy into a MySuper product.

MySuper products are intended to be low cost products that have a single, diversified investment strategy or a ‘lifecycle-style’ investment strategy, and fees applied in a prescribed manner. MySuper products are also required to offer eligible members basic default insurance cover on an opt-out basis. MySuper products can only be offered by authorised super funds.

We are excited to inform you that we have been authorised by APRA to offer Bendigo MySuper. Bendigo MySuper will be the default investment option in Bendigo SmartStart Super, our awarding winning low cost super solution.

Temporary closure of Bendigo Superannuation Plan (BSP) to new members from 1 January 2014

A product review of BSP is currently being undertaken having regard to the recent super reforms. As a result, Sandhurst has decided to temporarily close BSP’s Personal and Account-based Pension divisions to new members whilst the review is being undertaken.

Existing members in the Personal and Account-based Pension divisions will continue to be able to transact on their account as per normal during this review period. Sandhurst intends to relaunch this product, including new features and services towards the middle of 2014. We will provide an update on our website when BSP is relaunched and the temporary closure is removed.

This decision does not affect other super products offered by Sandhurst, i.e. Bendigo SmartStart Super and Bendigo SmartStart Pension.

For all queries, please contact our Customer Service Centre on 1800 033 426, email us at superannuation@bendigobank.com.au or call your financial adviser.

ASIC MoneySmart factsheet on Self Managed Superannuation Funds (SMSF)

ASIC is concerned that consumers considering moving their superannuation into a private self managed superannuation fund (SMSF) are not fully aware of their legal responsibilities and the loss of protection that results from moving out of a regulated superannuation fund.

ASIC MoneySmart has produced a short factsheet on issues consumers should consider before moving to a SMSF. The factsheet provides:

  • basic information on the obligations of operating an SMSF;
  • key issues for consumers to address when considering setting up an SMSF;
  • brief details about the loss of protection moving funds out of a regulated superannuation fund.

ASIC is encouraging trustees of regulated superannuation funds to pass this factsheet on to its members who may be considering setting up an SMSF. Click here to access the MoneySmart Self-managed super factsheet.

Change of investment manager for Zurich Investments Managed Growth Fund – 1 July 2013
The investment manager of the global property securities asset class in the Zurich Investments Managed Growth Fund has been changed from Cohen & Steers Capital Management, Inc. to Presima Inc.

If this investment is included in your current investment strategy you should read the new product disclosure statement available on our Disclosure Documents.
Change of responsible entity for AMP Capital Wholesale International Bond Fund and AMP Listed Property Trusts Fund - 28 February 2013
AMP Capital Funds Management Limited has replaced AMP Capital Investors Limited as the responsible entity for the following funds:

  • AMP Capital Wholesale International Bond Fund
  • AMP Listed Property Trusts Fund

If these investments are included in your current investment strategy you should read the new product disclosure statements available on our Disclosure Documents.
Howard Wholesale Mortgage Fund Capital Return - 16 January 2013

On or around 7 January 2013, Fidante Partners Limited, the responsible entity of the Howard Wholesale Mortgage Fund made an initial repayment of capital to investors of $0.10 per unit - which equates to a 10% return of capital.

From February 2013, Fidante Partners Limited will start repaying capital to investors initially at the rate of $0.05 per unit per month, based on the value of the investment in the fund as at 31 December 2012. Payments will be made within the first 10 business days of each month.

The Howard Wholesale Mortgage Fund is a closed investment option in the Bendigo Superannuation Plan; however some members may still have a holding in this option. For more information on the capital return  please visit the Fidante Partners website for more information.

Change in name and investment strategy of Aberdeen Capital Growth Fund - 1 September 2012
Old Investment name New Investment name Old Investment Strategy New Investment Strategy
Aberdeen Capital Growth Fund Aberdeen Multi-Asset Real Return Fund To provide exposure to a range of sectors to achieve mostly capital growth over the long term with some income potential. To achieve a real return equivalent to 5% per annum above inflation (before fees) over a full market cycle (generally 3 to 5 years).

 

Aberdeen Asset Management has also issued a new product disclosure statement for the fund. If this investment is included in your current investment strategy you should read the new product disclosure statement available on our Disclosure Documents page.

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