Financial Services Guide
AMP Capital Investors Limited
ABN 59 001 777 591
AFSL 232497
December 2008
This Financial Services Guide (FSG) is an important document we are required to give you as an Australian financial services licensee. It gives you the following information about AMP Capital Investors Limited ('AMP Capital', 'we', 'us' or 'our'):
- who we are and how we can be contacted
- what services and types of products we are authorised to provide you
- how we and any other relevant parties are paid
- how we handle complaints and our dispute resolution procedures.
This FSG relates to financial services we provide to retail clients and is designed to assist you in deciding whether to use any of our financial services.
Who are we?
AMP Capital is a specialist investment manager. As a wholly owned subsidiary of AMP Limited, we operate with a pure investment focus, while benefiting from the resources of our parent. We provide a broad range of financial services and products and the combination of our scale, breadth and capability provides investors with access to superior investment opportunities.
You can find out more about AMP Capital and AMP by visiting our web sites on
www.ampcapital.com.au and www.amp.com.au.
How we can be contacted?
You can contact Private Client Services on:
Telephone  |
1800 188 013 [8:30am - 5:30pm, Sydney time] |
Fax |
1800 188 267 |
Address |
AMP Capital Investors |
Product Disclosure Statement (PDS)
Before you can invest in one of our products, you will need to obtain a PDS for that product. It is important you read the PDS as it contains information to help you make an informed decision about that product such as:
- the terms and conditions of the product
- any associated costs, fees and charges that we may receive
- any significant benefits and risks.
To invest in one of our products you will need to complete the application form attached to the relevant PDS.
What financial services and financial products are we authorised to provide to you?
AMP Capital holds an Australian financial services licence that authorises us to carry on a financial services business to wholesale and retail clients. These services include:
1. provide financial product advice for the following classes of financial products:
- derivatives
- foreign exchange contracts
- government debentures, stocks or bonds
- investment life insurance products and any products issued by a Registered Life Insurance Company that are backed by one or more of its statutory funds
- interests in managed investments schemes (excluding investor directed portfolio services – IDPS)
- securities
- superannuation;
2. deal in a financial product by:
- issuing, applying for, acquiring, varying or disposing of the following classes of financial products: derivatives, foreign exchange contracts and interests in managed investment schemes (excluding IDPS) and securities
- applying for, acquiring, varying or disposing of the following classes of financial products on behalf of another person: deposit and payment products (basic, non-basic and non-cash payment facilities); derivatives; foreign exchange contracts; general insurance products; government debentures, stocks or bonds; investment life products and any products issued by a Registered Life Insurance Company that are backed by one or more of its statutory funds; interests in managed investments schemes (excluding IDPS); securities; and superannuation
- underwriting interests in managed investment schemes and an issue of securities;
3. operate registered managed investment schemes as responsible entity - limited to schemes which only hold derivatives, direct real property, financial assets and mortgages and operate IDPS-like schemes; and
4. provide custodial or depository services other than IDPS.
We may provide you with general advice in the course of our business. Such advice is not personal advice - it does not take into account your objectives, financial situation and needs. Because of this you should, before acting on the advice, consider the appropriateness of the advice having regard to your own objectives, financial situation and needs. You should consult your financial adviser if you wish to obtain personal advice.
How are we paid for the services we provide?
If you invest in one of our products, we will receive remuneration in relation to your investment in that product. This remuneration may include the following fees and costs:
- Contribution fee: 0 - 6% of the amount you apply for units
- Withdrawal fee: 0 - 5% of the amount you receive when you withdraw from a fund
- Management fee: 0 - 3% per annum of the value of the assets of the relevant fund
- Performance fee: In some situations a performance fee may also apply. Refer to the relevant PDS for more information.
- Transaction costs: 0 - 1% of the application/withdrawal amount. In some situations account fees may apply.
The remuneration we will receive for each product is set out in detail in the PDS for that product.
We comply with the Investment and Financial Services Association and Financial Planning Association Joint Code of Practice on Alternative Forms of Remuneration, which requires us to maintain a register to record any material forms of alternative remuneration we may pay or receive. We will provide you with a copy of the register free of charge, on request, by contacting us on 1800 188 013.
We do not charge you additional fees for any factual information or general advice we may provide. However, your financial adviser may charge you fees for providing financial product advice. This will be set out in the separate FSG and/or Statement of Advice (SOA) you will receive from your financial adviser.
How are our staff paid?
Our employees do not receive specific payments or commissions for any advice they may provide. These employees and our directors receive salaries, bonuses and other benefits from us. The amount of bonuses and other benefits which employees and directors may be entitled to will depend on various factors, such as the performance of that person during the year, the achievement of set business goals and our overall financial performance.
Payments to advisers or third parties
You may receive advice about our products from financial advisers that do not work for us (although they may work for another AMP licensee). Where you invest in one of our funds as a result of advice from your financial adviser, we pay your adviser a commission. The standard commission paid to your adviser is an initial payment of up to 4.1% (inclusive of GST, less any reduced income tax credits) of your investment and an ongoing commission of up to 1.1% (inclusive of GST) per annum of your account balance. You need to agree these commission amounts with your adviser. If you do not have a financial adviser, no contribution fee and ongoing commission will apply.
Your adviser is required to set out the remuneration and commissions they receive in the FSG and/or SOA that they must give to you.
We may also pay annual or upfront commissions or provide other benefits to third parties (other than your financial adviser) for referring customers to us. This is not a cost to you - we pay this personally.
You can ask us for more details about these payments or benefits if you ask for them within a reasonable time after receiving this FSG and before we provide you with any financial services or products.
Providing instructions to us
You can provide instructions to us by phoning, faxing, emailing or writing to us. See 'How we can be contacted?' section.
Some of our products may have their own rules about how to provide instructions or carry out certain transactions. Please refer to the product's PDS for these details.
Privacy
The privacy of your personal information is important to us. We have systems and processes in place to protect your privacy. We need to collect personal information to administer relationships with our investors, to provide appropriate products and services and to comply with the Anti-Money Laundering and Counter Terrorism Financing Act 2006.
For detailed information on how we handle your personal information please read our Privacy Statement available on our website www.ampcapital.com.au, refer to the relevant PDS or call 1800 188 013.
Compensation and insurance arrangements
We are covered by professional indemnity insurance satisfying the requirements under the Corporations Act for compensation arrangements. The insurance is subject to terms and exclusions. .
The insurance covers any claims arising from the actions of former AMP Capital employees or representatives, even where subsequent to these actions they have ceased to be employed by, or act for us.
You do not have a direct right to claim under this insurance, which is taken out to ensure sufficient resources will be available to meet claims against us.
How we handle complaints and our dispute resolution process
If you require any additional information about the operation or management of your product, or if you have a concern or complaint, please contact Private Client Services. See 'How we can be contacted?' section.
The Private Client Services team is available to answer your enquiries or complaints and will try to resolve your enquiry or complaint as quickly as possible. We have established procedures to deal with any complaints. If you make a complaint, we will:
- acknowledge its receipt and ensure an appropriate person considers the complaint, and
- respond to you as soon as we can.
If your complaint cannot be resolved at first contact, we will keep you informed of the progress and aim to give you a full response to your complaint within 10 working days. If the complaint is not resolved by that time, we will keep you advised at regular intervals of the status of your complaint.
If you are dissatisfied with the way your complaint has been handled, you may refer your concerns to the Financial Ombudsman Service (FOS). External dispute handling bodies help clients with complaints they cannot resolve directly with their company. They are independent and impartial and we are bound by their decisions.
The contact details for FOS are:
Phone (toll free): 1300 780 808
Fax: [03] 9613 6399
Website: www.fos.org.au
Email: info@fos.org.au
Mail: GPO Box 3, Melbourne VIC 3001