Commercial Loans - Sandhurst Trustees
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PDS Updates

Cash Funds

Sandhurst Cash Common Fund

Change Details
15 December 2016

A new PDS was issued on 15 December 2016. There are currently no updates to this PDS.

The current PDS and Application Form here.

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Adelaide Cash Management Trust

Change Details

1 July 2017

Effective 1 July 2017, Sandhurst Trustees Limited (Sandhurst), the responsible entity, of the Adelaide Cash Management Trust (the Trust) will terminate the Custody Services Agreement between Bendigo and Adelaide Bank Limited and Sandhurst.  As a result, Sandhurst will perform self-custodial responsibilities as it does for all other Sandhurst funds.

There is no impact to investors as a result of the change in custody arrangements.

The Trust's PDS dated 1 November 2016 is amended as follows:

  • Page 2, under the section titled 'Custodian and transaction service provider', the heading and first paragraph will change to:

    Transaction service provider

    An investor's beneficial interest (investment) in the Trust is referred to within this PDS as a 'CMT account'.

  • Page 4, second bullet point titled ' Counterparty risk' will change to

    Counterparty risk: Counterparty risk represents the loss that would be recognised if counterparties (i.e. the other parties to contracts such as security dealers or derivative counterparties) fail to perform as contracted.

  • Page 6, under the section titled 'Management costs', the first and second paragraph will change to:

    Management costs are the total fees and costs incurred in managing the Trust, comprising the management fee paid to Sandhurst for administering the Trust, distribution costs, and other expenses and reimbursements in relation to the Trust.

    The Trust's Constitution allows Sandhurst to recover, from the Trust, all costs, charges, expenses and outgoings reasonably and properly incurred by Sandhurst in the proper performance of its duties in administering the Trust. Administrative expenses and other expenses and reimbursements are based on the past financial year's actual costs.  Expenses and reimbursements may include, but are not limited to audit, taxation, PDS, legal, establishment, stationery, postage and compliance costs.

  • Page 8, under the section titled 'Related party transactions', the third sentence will change to:

    Any fees paid to a member of the Bendigo and Adelaide Bank Group for these services are paid by Sandhurst from its own resources and not out of the Trust, other than the administration costs which are included in the management costs as mentioned in section 6.
This update should be read in conjunction with the current PDS and Application Form which can be found here.


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Responsible Investment Funds

Bendigo Socially Responsible Growth Fund

Change Details
16 June 2017 Switching between managed funds

Sandhurst Trustees (the responsible entity) has made it easier for customers to change their investments by introducing the ability to switch between most of Sandhurst's managed funds.  
As a result of this improvement, the Product Disclosure Statement (PDS) dated 16 September 2016, is amended as follows:

  • Page 3, 'Switching and transfers' section, first and second paragraph is replaced with the following paragraphs:

    You may switch from the Fund to other funds operated by Sandhurst and which are listed on the Switch Form (available from our website at www.sandhursttrustees.com.au/forms).
    When you request a switch we will redeem your existing units in the Fund at the next available redemption price and we will use the proceeds to buy the units in the new fund at the relevant application price. There is currently no charge for switching between funds, however buy/sell spreads do apply. Switching from one fund to another fund may give rise to tax consequences and it is recommended that you check the tax implications with your accountant or financial adviser before switching.
    When making a switch the minimum balance and transaction amounts of the respective funds must be met. You should obtain a copy of the most up-to-date product disclosure statements for each fund when requesting a switch, as the switch will be made on those terms. These documents and the Switch Form are available from our website at www.sandhursttrustees.com.au/forms.

    In addition, the Reference Guide dated 16 September 2016, is amended as follows:
  • Page 4, 'Switching between Funds' section can be removed from the Reference Guide as the information in this section is the same as in the PDS.

    This update should be read in conjunction with the current PDSs and Reference Guide which can be found here.

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Income and Mortgage Funds

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Sandhurst Select Mortgage Fund

Change Details

1 July 2017

A Supplementary Product Disclosure Statement was issued 1 July 2017, this document amends content of the Product Disclosure Statement dated 30 January 2017.

The current PDS including the Supplementary Product Disclosure Statement can be located here

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Sandhurst Investment Term Fund

(Previously known as Sandhurst Investment Common Fund)

Change Details

1 July 2017

A Supplementary Product Disclosure Statement was issued 1 July 2017, this document amends content of the Product Disclosure Statement dated 30 January 2017.

The current PDS including the Supplementary Product Disclosure Statement can be located here

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Sandhurst Strategic Income Fund

Change Details

16 June 2017

Switching between managed funds

Sandhurst Trustees (the responsible entity) has made it easier for customers to change their investments by introducing the ability to switch between most of Sandhurst's managed funds.  
As a result of this improvement, the Product Disclosure Statement (PDS) dated 30 January 2017, is amended as follows:

  • Page 2, section 'Applications and withdrawals', insert the following line into the table:

     

    Class A Units Class B Units
    Minimum switches $1,000
  • Page 3, after the 'Withdrawal requests' section, a new section is inserted as follows:

    Switching
    You may switch from the Fund to other funds operated by Sandhurst and which are listed on the Switch Form (available from our website at www.sandhursttrustees.com.au/forms).
    When you request a switch we will redeem your existing units in the Fund at the next available redemption price and we will use the proceeds to buy the units in the new fund at the relevant application price. There is currently no charge for switching between funds, however buy/sell spreads do apply. Switching from one fund to another fund may give rise to tax consequences and it is recommended that you check the tax implications with your accountant or financial adviser before switching.
    When making a switch the minimum balance and transaction amounts of the respective funds must be met. You should obtain a copy of the most up-to-date product disclosure statements for each fund when requesting a switch, as the switch will be made on those terms. These documents and the Switch Form are available from our website at www.sandhursttrustees.com.au/forms.
  • Page 7, section 7 'How managed investment schemes are taxed', last bullet point should read:
    • Investors may be liable for tax on capital gains realised on the sale of units in the Fund, either by withdrawal, switch or transfer.
This update should be read in conjunction with the current PDSs and Reference Guide which can be found here.

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Bendigo Diversified Fixed Interest Fund

Change Details

16 June  2017

Switching between managed funds

Sandhurst Trustees (the responsible entity) has made it easier for customers to change their investments by introducing the ability to switch between most of Sandhurst's managed funds.  
As a result of this improvement, the Product Disclosure Statement (PDS) dated 1 November 2016, is amended as follows:

  • Page 2, section 'Applications and withdrawals', insert the bullet point:
        • Minimum switches            $1,000
  • Page 3, after the 'Minimum investment balance' section, a new section is inserted as follows:

    Switching
    You may switch from the Fund to other funds operated by Sandhurst and which are listed on the Switch Form (available from our website at www.sandhursttrustees.com.au/forms).
    When you request a switch we will redeem your existing units in the Fund at the next available redemption price and we will use the proceeds to buy the units in the new fund at the relevant application price. There is currently no charge for switching between funds, however buy/sell spreads do apply. Switching from one fund to another fund may give rise to tax consequences and it is recommended that you check the tax implications with your accountant or financial adviser before switching.
    When making a switch the minimum balance and transaction amounts of the respective funds must be met. You should obtain a copy of the most up-to-date product disclosure statements for each fund when requesting a switch, as the switch will be made on those terms. These documents and the Switch Form are available from our website at www.sandhursttrustees.com.au/forms.
  • Page 7, section 7 'How managed investment schemes are taxed', last bullet point should read:
    • Investors may be liable for tax on capital gains realised on the sale of units in the Fund, either by withdrawal, switch or transfer.
This update should be read in conjunction with the current PDSs and Reference Guide which can be found here.
3 April 2017

Change to investment managers

Effective 3 April 2017, Sandhurst Trustees (the responsible entity) has changed the investment managers for the International fixed interest asset class of the Bendigo Diversified Fixed Interest Fund to include an additional manager, T. Rowe Price International Ltd.

As a result the Reference Guide dated 1 November 2016, which forms part of the Product Disclosure Statement (PDS) for the Fund, is amended as follows:

  • Page 3, under the section titled 'The Fund's investment managers', the list and description of the investment managers listed for the 'International fixed interest' asset class is deleted and replaced as follows:

    Asset class Investment manager
    International fixed interest PIMCO Australia Pty Ltd
    Franklin Templeton Investments Australia Limited
    Macquarie Investment Manager Global Limited
    Vanguard Investments Australia Ltd
    T. Rowe Price International Ltd

 

This update should be read in conjunction with the current PDS and Reference Guide which can be found here.

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Diversified Funds

Sandhurst Managed Funds

Change Details

16 June  2017

Switching between managed funds

Sandhurst Trustees (the responsible entity) has made it easier for customers to change their investments by introducing the ability to switch between most of Sandhurst's managed funds.  
As a result of this improvement, the Product Disclosure Statements (PDSs) dated 30 January 2017 for the Sandhurst Conservative Fund, Sandhurst Balanced Fund and Sandhurst Growth Fund are amended as follows:

  • Page 3, 'Switching and transfers' section, first sentence is replaced with the following sentence:

    You may switch from the Fund to other funds operated by Sandhurst and which are listed on the Switch Form (available from our website at www.sandhursttrustees.com.au/forms).
This update should be read in conjunction with the current PDSs and Reference Guide which can be found here.

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Bendigo Managed Wholesale Funds (Active Funds)

Change Details
14 August 2017

Change to Investment Managers

Effective 14 August 2017, Sandhurst Trustees (the responsible entity) has changed the investment managers for the Australian shares asset class of the following funds. A new manager, Macquarie Investment Management Global Limited has been added and Henderson Global Investors (Australia) Funds Management Limited has been removed.

  • Bendigo Defensive Wholesale Fund
  • Bendigo Conservative Wholesale Fund
  • Bendigo Balanced Wholesale Fund
  • Bendigo Growth Wholesale Fund
  • Bendigo High Growth Wholesale Fund

As a result the Bendigo Managed Wholesale Funds Reference Guide dated 30 January 2017, which forms part of the Product Disclosure Statement (PDS) for each of the funds, is amended as follows:

  • Page 3, under the section titled ‘The Funds’ investment managers’, the list and description of the investment and investment managers listed for the ‘Australian shares’ asset class (for Active Funds) is deleted and replaced with the following:
Fund Asset class Investment manager

Active funds

  • Bendigo Defensive Wholesale Fund
  • Bendigo Conservative Wholesale Fund
  • Bendigo Balanced Wholesale Fund
  • Bendigo Growth Wholesale Fund
  • Bendigo High Growth Wholesale Fund
Australian shares Bennelong Australian Equity Partners Pty Ltd
Investors Mutual Limited
Macquarie Investment Management Global Limited

16 June 2017

Switching between managed funds

Sandhurst Trustees (the responsible entity) has made it easier for customers invested in the following funds, to change their investments by introducing the ability to switch between most of Sandhurst's managed funds.  

  • Bendigo Defensive Wholesale Fund
  • Bendigo Conservative Wholesale Fund
  • Bendigo Balanced Wholesale Fund
  • Bendigo Growth Wholesale Fund
  • Bendigo High Growth Wholesale Fund

As a result of this improvement, the Product Disclosure Statements (PDSs) dated 30 January 2017 for the above funds are amended as follows:

  • Page 3, 'Switching and transfers' section, first sentence is replaced with the following sentence:

    You may switch from the Fund to other funds operated by Sandhurst and which are listed on the Switch Form (available from our website at www.sandhursttrustees.com.au/forms).
This update should be read in conjunction with the current PDSs and Reference Guide which can be found here.
3 April 2017

Change to investment managers

Effective 3 April 2017, Sandhurst Trustees (the responsible entity) has changed the investment managers for the Fixed interest asset class of the following funds to include an additional manager, T. Rowe Price International Ltd:

  • Bendigo Defensive Wholesale Fund
  • Bendigo Conservative Wholesale Fund
  • Bendigo Balanced Wholesale Fund
  • Bendigo Growth Wholesale Fund
  • Bendigo High Growth Wholesale Fund

As a result the Bendigo Managed Wholesale Funds Reference Guide dated 30 January 2017, which forms part of the Product Disclosure Statement (PDS) for each of these funds, is amended as follows:

  • Page 3, under the section titled 'The Funds' investment managers', the list and description of the investment managers listed for the 'Fixed interest' asset class (for Active Funds) is deleted and replaced with the following:

    Fund Asset class Investment manager

    Active funds

    • Bendigo Defensive Wholesale Fund
    • Bendigo Conservative Wholesale Fund
    • Bendigo Balanced Wholesale Fund
    • Bendigo Growth Wholesale Fund
    • Bendigo High Growth Wholesale Fund
    Fixed interest Franklin Templeton Investments Australia Limited
    Macquarie Investment Management Global Limited
    Henderson Global Investors (Australia) Funds Management Limited
    PIMCO Australia Pty Limited
    Russell Investment Management Ltd.
    Payden & Rygel Global Limited
    Schroder Investment Management Australia Ltd
    T. Rowe Price International Ltd
    Vanguard Investments Australia Ltd

 

This update should be read in conjunction with the current PDSs and Reference Guide which can be found here.

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Bendigo Managed Wholesale Funds (Index Funds)

Change Details

16 June  2017

Switching between managed funds

Sandhurst Trustees (the responsible entity) has made it easier for customers invested in the following funds, to change their investments by introducing the ability to switch between most of Sandhurst's managed funds.  

  • Bendigo Defensive Index Fund
  • Bendigo Conservative Index Fund
  • Bendigo Balanced Index Fund
  • Bendigo Growth Index Fund
  • Bendigo High Growth Index Fund

As a result of this improvement, the Product Disclosure Statements (PDSs) dated 30 January 2017 for the above funds are amended as follows:

  • Page 3, 'Switching and transfers' section, first sentence is replaced with the following sentence:

    You may switch from the Fund to other funds operated by Sandhurst and which are listed on the Switch Form (available from our website at www.sandhursttrustees.com.au/forms).
This update should be read in conjunction with the current PDSs and Reference Guide which can be found here.

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Australian Share Funds

Sandhurst Industrial Share Fund

Change Details

16 June  2017

Switching between managed funds

Sandhurst Trustees (the responsible entity) has made it easier for customers to change their investments by introducing the ability to switch between most of Sandhurst's managed funds.  
As a result of this improvement, the Product Disclosure Statement (PDS) dated 30 January 2017 is amended as follows:

  • Page 3, 'Switching and transfers' section, first sentence is replaced with the following sentence:

    You may switch from the Fund to other funds operated by Sandhurst and which are listed on the Switch Form (available from our website at www.sandhursttrustees.com.au/forms).
This update should be read in conjunction with the current PDSs and Reference Guide which can be found here.

Sandhurst Future Leaders Fund

Change Details

16 June  2017

Switching between managed funds

Sandhurst Trustees (the responsible entity) has made it easier for customers to change their investments by introducing the ability to switch between most of Sandhurst's managed funds.  
As a result of this improvement, the Product Disclosure Statement (PDS) dated 30 January 2017 is amended as follows:

  • Page 3, 'Switching and transfers' section, first sentence is replaced with the following sentence:

    You may switch from the Fund to other funds operated by Sandhurst and which are listed on the Switch Form (available from our website at www.sandhursttrustees.com.au/forms).
This update should be read in conjunction with the current PDSs and Reference Guide which can be found here.

Sandhurst IML Industrial Share Fund

Change Details

30 June 2017

A new PDS was issued on 30 June 2017. There are currently no updates to this PDS.

The current PDS, Reference Guide and Application Form can be located here.

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International Share Funds

Bendigo Global Share Fund

Previously known as the Sandhurst Professional GVI Global Industrial Fund

Change Details

17 April 2017

A new PDS was issued on 17 April 2017. There are currently no updates to this PDS.

The current PDS, Reference Guide and Application Form can be located here.