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When you communicate with us by fax, it is your responsibility to obtain confirmation from us that we have received your fax. We are not responsible for any loss or processing delay that occurs as a result of us not receiving a faxed communication. Please note that we do not accept a sender's fax transmission record as evidence that a communication has been received by us. You also indemnify us against any loss or liability arising from us acting on any fraudulent communication received by fax.
In the AMP Capital Sustainable Share Fund PDS dated 15 February 2010, under the heading ‘Recoverable expenses’ in Table 1 of the ‘Fees and other costs’ section, the sentence ‘Paid to us monthly out of the Fund’s assets and reflected in the unit price’ is deleted and replaced with:
Paid to us out of the Fund’s assets once the expense is incurred and reflected in the unit price.
In the AMP Capital Sustainable Share Fund Information Memorandum dated 15 February 2010, under the heading ‘Recoverable expenses’ in Table 1 of the ‘Fees and costs’ section, the sentence ‘Paid to us monthly out of the Fund’s assets and reflected in the unit price’ is deleted and replaced with:
Paid to us out of the Fund’s assets once the expense is incurred and reflected in the unit price.
PDS dated 5 January 2004 (unit class: platform, wholesale)
Under the heading ‘Commissions and other payments’ on page 6 of the PDS dated 5 January 2004 all content, including the heading, is deleted.
Additionally the heading ‘Commissions and other payments’ is deleted from the Table of contents.
PDS dated 5 January 2004 (unit class: platform, wholesale)
Under the heading ‘Commissions and other payments’ on page 6 of the PDS dated 5 January 2004 all content, including the heading, is deleted.
Additionally the heading ‘Commissions and other payments’ is deleted from the Table of contents.
PDS dated 5 January 2004 (unit class: platform, wholesale)
Immediately before the heading ‘Managing your risks’ on page 6 of the PDS dated 5 January 2004 insert the following:
Short selling
Underlying managers may utilise alternative investment strategies such as short selling equities. Due to the nature of short selling (aiming to sell an asset at a high price and buy it later at a lower price), the potential amount of loss to the Fund may be greater than for more traditional purchase and sale transactions, as the potential increase in price of the asset sold (and hence the potential loss) is unlimited.
Under the heading ‘Commissions and other payments’ on page 6 of the PDS dated 5 January 2004 all content, including the heading, is deleted.
Additionally the heading ‘Commissions and other payments’ is deleted from the Table of contents.
PDS dated 5 January 2004 (unit class: platform, wholesale)
Under the heading ‘Commissions and other payments’ on page 6 of the PDS dated 5 January 2004 all content, including the heading, is deleted.
Additionally the heading ‘Commissions and other payments’ is deleted from the Table of contents.
PDS dated 5 January 2004 (unit class: platform, wholesale)
Under the heading ‘Commissions and other payments’ on page 7 of the PDS dated 5 January 2004 all content, including the heading, is deleted.
Additionally the heading ‘Commissions and other payments’ is deleted from the Table of contents.
PDS dated 5 January 2004 (unit class: platform, wholesale)
Immediately before the heading ‘Managing your risks’ on page 6 of the PDS dated 5 January 2004 insert the following:
Short selling
Underlying managers may utilise alternative investment strategies such as short selling equities. Due to the nature of short selling (aiming to sell an asset at a high price and buy it later at a lower price), the potential amount of loss to the Fund may be greater than for more traditional purchase and sale transactions, as the potential increase in price of the asset sold (and hence the potential loss) is unlimited.
Under the heading ‘Commissions and other payments’ on page 6 of the PDS dated 5 January 2004 all content, including the heading, is deleted.
Additionally the heading ‘Commissions and other payments’ is deleted from the Table of contents.
For all Future Directions Diversified Funds, Table 1 in the Future Directions Diversified Funds PDS is deleted and replaced with the following:
Future Directions Balanced Fund |
||
Table 1 |
||
|
Asset class allocation |
|
Asset class |
Long term benchmark |
Strategic range |
Defensive assets |
|
|
Cash |
3% |
0-20% |
Australian fixed interest |
9.8% |
0-35% |
International fixed interest |
8.2% |
0-20% |
Alternatives * (defensive) |
6% |
0-20% |
Sub total |
27% |
|
Growth assets |
|
|
Property |
6% |
0-30% |
Alternatives* (growth) |
13% |
0-30% |
Australian shares |
29% |
15-45% |
International shares |
25% |
15-45% |
Sub total |
73% |
|
Total |
100% |
|
* May include alternative assets such as infrastructure assets, hedge funds and private equity.
For all Future Directions Diversified Funds, Table 1 in the Future Directions Diversified Funds PDS is deleted and replaced with the following:
Future Directions Conservative Fund |
||
Table 1 |
||
|
Asset class allocation |
|
Asset class |
Long term benchmark |
Strategic range |
Defensive assets |
|
|
Cash |
18% |
0-50% |
Australian fixed interest |
21.8% |
10-55% |
International fixed interest |
18.2% |
10-40% |
Alternatives * (defensive) |
10% |
0-20% |
Sub total |
68% |
|
Growth assets |
|
|
Property |
4.25% |
0-20% |
Alternatives* (growth) |
7% |
0-20% |
Australian shares |
11.5% |
0-20% |
International shares |
9.25% |
0-20% |
Sub total |
32% |
|
Total |
100% |
|
* May include alternative assets such as infrastructure assets, hedge funds and private equity.
In the ‘Investment approach’ section of the offer document dated 16 December 2009, the following is inserted immediately after the first paragraph:
The Fund may also invest up to 10% in cash. In certain market conditions, however, the Fund may hold higher levels of cash.
For all Future Directions Diversified Funds, Table 1 in the Future Directions Diversified Funds PDS is deleted and replaced with the following:
Future Directions Growth Fund |
||
Table 1 |
||
|
Asset class allocation |
|
Asset class |
Long term benchmark |
Strategic range |
Defensive assets |
|
|
Cash |
1% |
0-20% |
Australian fixed interest |
3.7% |
0-25% |
International fixed interest |
3.3% |
0-15% |
Alternatives * (defensive) |
3% |
0-15% |
Sub total |
11% |
|
Growth assets |
|
|
Property |
6% |
0-40% |
Alternatives* (growth) |
16% |
0-35% |
Australian shares |
35.8% |
20-60% |
International shares |
31.2% |
20-60% |
Sub total |
89% |
|
Total |
100% |
|
* May include alternative assets such as infrastructure assets, hedge funds and private equity.
For all Future Directions Diversified Funds, Table 1 in the Future Directions Diversified Funds PDS is deleted and replaced with the following:
Future Directions High Growth Fund |
||
Table 1 |
||
|
Asset class allocation |
|
Asset class |
Long term benchmark |
Strategic range |
Defensive assets |
|
|
Cash |
0% |
0-15% |
Australian fixed interest |
0% |
0-15% |
International fixed interest |
0% |
0-15% |
Alternatives * (defensive) |
2% |
0-15% |
Sub total |
2% |
|
Growth assets |
|
|
4% |
0-40% |
|
Alternatives* (growth) |
16.66% |
0-40% |
Australian shares |
41.6% |
20-60% |
International shares |
35.74% |
20-60% |
Sub total |
98% |
|
Total |
100% |
|
* May include alternative assets such as infrastructure assets, hedge funds and private equity.
For all Future Directions Diversified Funds, Table 1 in the Future Directions Diversified Funds PDS is deleted and replaced with the following:
Future Directions Moderately Conservative Fund |
||
Table 1 |
||
|
Asset class allocation |
|
Asset class |
Long term benchmark |
Strategic range |
Defensive assets |
|
|
Cash |
8% |
0-30% |
Australian fixed interest |
16.2% |
10-45% |
International fixed interest |
16.8% |
5-30% |
Alternatives * (defensive) |
9% |
0-20% |
Sub total |
50% |
|
Growth assets |
|
|
Property |
4.25% |
0-20% |
Alternatives* (growth) |
9% |
0-25% |
Australian shares |
19.75% |
10-30% |
International shares |
17% |
10-30% |
Sub total |
50% |
|
Total |
100% |
|
* May include alternative assets such as infrastructure assets, hedge funds and private equity.
PDS dated 5 January 2004 (unit class: platform, wholesale)
Under the heading ‘Commissions and other payments’ on page 6 of the PDS 5 January 2004 all content, including the heading, is deleted.
Additionally the heading ‘Commissions and other payments’ is deleted from the Table of contents.
Effective 27 January 2010, the name of the Core Plus Strategies Fund was changed to the AMP Capital Core Plus Strategies Fund.
Effective 9 October 2009, APIR code AMP0968AU no longer applies to the fund's wholesale unit class.
Under the heading ‘Security ratings’ in the ‘Fund Profile’ section of the offer document dated 13 November 2009, the last paragraph is deleted and replaced with:
As part of our process we also assign our own credit rating to each security. If a security has not been rated by an external rating agency, it is submitted to our Credit Investment Committee for approval to include in the Fund’s portfolio. The committee is made up of department heads and senior investment professionals from across AMP Capital.
Under the heading ‘Access to global credit securities’ in the ‘Fund Profile’ section of the offer document dated 13 November 2009, all content is deleted and replaced with:
The Fund can access global credit securities in four ways:
* The amount of exposure to direct global credit securities can change significantly, depending on market opportunities. As at 30 April 2010, exposure to these securities was 7.12%. Current exposure can be obtained by contacting us.
The Fund does not use short selling. Consequently, all references to short selling in the offer document dated 13 November 2009 are deleted as noted below:
1. In the ‘Fund Profile’ section of the offer document, under the heading ‘Hedging’, the third paragraph is deleted.
2. In the ‘Risks of investing’ section of the offer document, under the heading ‘Hedging’, all content, including the heading is deleted.
1. Under the heading ‘Derivatives’ in the ‘Fund profile’ section of the offer document dated 13 November 2009, all content is deleted and replaced with:
The Fund may use derivatives with the aims of:
The Fund may ‘short’ derivatives, that is, it may hold credit default swaps where the underlying asset or assets are not held by the Fund. It may also hold other types of derivatives where the underlying asset or assets are not held by the Fund.
We impose restrictions on the use of derivatives within the Fund and monitor the implementation of these restrictions in accordance with the AMP Capital Derivative Risk Statement, which can be obtained by contacting us.
2. Under the heading ‘Derivatives’ in the ‘Risks of investing’ section of the offer document dated 13 November 2009, all content is deleted and replaced with:
There are risks of losses to the Fund, through the use of derivatives, and where derivatives are used by underlying funds in which the Fund invests. These risks include the risks that:
Under the heading ‘International investments’ in the ‘Risks of investing’ section of the offer document dated 13 November 2009, all content is deleted and replaced with:
Effective 9 October 2009, APIR code AMP0263AU no longer applies to the fund's wholesale unit class.
Effective September 2009, Index providers Mercer and IPD replaced the 'Mercer Unlisted Property Index' with a new index, being the 'Mercer/IPD Australian Pooled Property Fund Index'.
Consequently, all references to 'Mercer Unlisted Property Index' in the PDS are deleted and replaced with 'Mercer/IPD Australian Pooled Property Fund Index'.
Effective 2 December 2009, due to Blackrock’s acquisition of Barclays Global Investors, the name of one of the underlying funds in which the AMP Capital Core Property Fund invests changed from Barclays Australian Listed Property Index Fund to Blackrock Wholesale Indexed Australian Listed Property Fund.
Supplementary PDSs for the Fund were issued on 2 October 2009.
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PDS dated 14 January 2008 (unit class: platform, wholesale)
1. After the heading ‘Payments to your financial adviser’ on page 4 of the supplementary PDS dated 1 July 2006 insert the following:
We may make payments to entities such as dealer groups, platform operators, master trusts and investment administration services in relation to the Fund. These payments are paid by us and are not a cost to you. We may make two types of payments to such entities:
The amount of these payments may change during the life of this PDS.
2. Under the heading ‘Commissions and other payments’ on page 6 of the PDS dated 14 January 2008 all content, including the heading, is deleted.
Additionally the heading ‘Commissions and other payments’ is deleted from the Table of contents.
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.
On page 8 of the PDS dated 5 January 2004, all 'Complaints' information including the heading, is deleted and replaced with:
Wholesale investors and platform operators
We have an established procedure to deal with any complaints. When we receive a complaint from you by telephone on 1800 658 404 or in writing to AMP Capital Investors Limited, GPO Box 5445, Sydney NSW 2001, we ensure an appropriate person properly considers the complaint, and we give you information about any further action available to you.
If we are unable to resolve your complaint within 24 hours, we will keep you informed, giving the time frame in which we expect to resolve the matter and the name of the representative managing the resolution of your complaint. We may also require additional information from you.
Indirect investors
You should contact your financial adviser or platform operator if you have a complaint related to your investment in the Fund. If your issue remains unresolved, you can contact the external dispute resolution scheme of which the platform operator is a member.
PDS dated 14 January 2008 (unit class: platform, wholesale)
1. After the heading ‘Payments to your financial adviser’ on page 4 of the supplementary PDS dated 1 July 2006 insert the following:
We may make payments to entities such as dealer groups, platform operators, master trusts and investment administration services in relation to the Fund. These payments are paid by us and are not a cost to you. We may make two types of payments to such entities:
The amount of these payments may change during the life of this PDS.
2. Under the heading ‘Commissions and other payments’ on page 6 of the PDS dated 14 January 2008 all content, including the heading, is deleted.
Additionally the heading ‘Commissions and other payments’ is deleted from the Table of contents.
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.
On page 8 of the PDS dated 5 January 2004, all 'Complaints' information including the heading, is deleted and replaced with:
Wholesale investors and platform operators
We have an established procedure to deal with any complaints. When we receive a complaint from you by telephone on 1800 658 404 or in writing to AMP Capital Investors Limited, GPO Box 5445, Sydney NSW 2001, we ensure an appropriate person properly considers the complaint, and we give you information about any further action available to you.
If we are unable to resolve your complaint within 24 hours, we will keep you informed, giving the time frame in which we expect to resolve the matter and the name of the representative managing the resolution of your complaint. We may also require additional information from you.
Indirect investors
You should contact your financial adviser or platform operator if you have a complaint related to your investment in the Fund. If your issue remains unresolved, you can contact the external dispute resolution scheme of which the platform operator is a member.
PDS dated 28 January 2004 (unit class: platform, wholesale)
Under the heading ‘Commissions and other payments’ on page 7 of the PDS dated 28 January 2004 all content, including the heading, is deleted.
Additionally the heading ‘Commissions and other payments’ is deleted from the Table of contents.
Effective 9 October 2009, APIR code AMP1076AU no longer applies to the fund's wholesale unit class.
The fund will normally invest up to 10% in cash. However, in certain market conditions the fund may hold higher levels of cash.
PDS dated 5 January 2004 (unit class: platform, wholesale)
Under the heading ‘Commissions and other payments’ on page 7 of the PDS dated 5 January 2004 all content, including the heading, is deleted.
Additionally the heading ‘Commissions and other payments’ is deleted from the Table of contents.
The fund will normally invest up to 10% in cash. However, in certain market conditions the fund may hold higher levels of cash.
AMP Capital is currently not accepting applications for new or additional investments in the fund.
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.
The issue price for reinvested distributions is determined by the net asset value (adjusted by any distribution payable) and the number of units on issue in the unit class as at the last day of the distribution period. No buy spread is applied to reinvested distributions.
AMP Capital is currently not accepting applications for new or additional investments in the fund.
As a result of a recent strategic review of its capability, AMP Capital advise that Dorset Management (Dorset) will no longer act as primary investment adviser for the AMP Capital Total Return Fund (the Fund). Internal changes at Dorset recently culminated in the departure of four key personnel from the Dorset business. AMP Capital has decided to retain the services of these four individuals to continue in their roles as investment advisers to the Fund. This decision has been made to ensure there is no disruption to the inputs into the investment process of the Fund. It will also ensure that the key individuals who have advised the Fund recently can continue in that capacity.
It is AMP Capital’s intention to consistently monitor and review our advisory arrangements to ensure that the best interests of unitholders are being served.
In addition to this change, we also advise that the Fund will be operating with leverage levels lower than those outlined in the Product Disclosure Statement and potentially as low as zero. The investment strategy states that we typically expect the Fund to be leveraged by 1.5 to 2.5 times. However, it also indicates that in deciding the appropriate amount of leverage we will take into account the levels of risk and degree of diversification adopted by the underlying fund managers. On this basis we have decided that it is in the best interests of investors in the Fund to lower the level of leverage in the current economic climate. Should the leverage within the Fund return to normal levels, we will update investors of the change.
Under the 'Liquidity' section on page 18 of the AMP Capital Total Return Fund PDS dated 1 December 2007, immediately following the last sentence of paragraph three, insert the following:
From 29 April 2008, the unit price used to calculate your withdrawal value will generally be the price prevailing on the day we process your withdrawal (or part withdrawal) request, not the day you notify us of your intention to withdraw.
Staff Investment Programme PDSUnder 'Withdrawal prices and payment times' section on page 58 of the Staff Investment Programme PDS dated 10 March 2008, the first paragraph is deleted and replaced with the following:
Withdrawal prices and payment timesWe normally determine the market value and net asset value of a fund at least each business day, using the market prices of the assets in which a fund is invested, other than for the AMP Capital Structured High Yield Fund, AMP Capital Core Infrastructure Fund, AMP Capital Total Return Fund and Future Directions Property (Feeder) Fund. For these funds, the unit price used to calculate your withdrawal value will generally be the price prevailing on the day we process your withdrawal (or part withdrawal) request, not the day you notify us of your intention to withdraw.
The issue price for reinvested distributions is determined by the net asset value (adjusted by any distribution payable) and the number of units on issue in the unit class as at the last day of the distribution period. No buy spread is applied to reinvested distributions.
Under the heading ‘Investment approach’ on page 11 of the offer document dated 2 November 2009, the second paragraph is deleted and replaced with:
The Fund may invest up to 10% in cash and fixed interest securities if these investments are seen to add value or assist in managing risk. In certain market conditions, however, the Fund may hold higher levels of cash.
Under the heading ‘Investment approach’ on page 12 of the offer document dated 2 November 2009, the second paragraph is deleted and replaced with:
The Fund’s investments are diversified across countries, industries and types of companies.
The Fund may invest up to 10% in cash and fixed interest securities if these investments are seen to add value or assist in managing risk. In certain market conditions, however, the Fund may hold higher levels of cash.
PDS dated 14 January 2008 (unit class: platform, wholesale)
1. After the heading ‘Payments to your financial adviser’ on page 4 of the supplementary PDS dated 1 July 2006 insert the following:
We may make payments to entities such as dealer groups, platform operators, master trusts and investment administration services in relation to the Fund. These payments are paid by us and are not a cost to you. We may make two types of payments to such entities:
The amount of these payments may change during the life of this PDS.
2. Under the heading ‘Commissions and other payments’ on page 6 of the PDS dated 14 January 2008 all content, including the heading, is deleted.
Additionally the heading ‘Commissions and other payments’ is deleted from the Table of contents.
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.
On page 8 of the PDS dated 5 January 2004, all 'Complaints' information including the heading, is deleted and replaced with:
Wholesale investors and platform operators
We have an established procedure to deal with any complaints. When we receive a complaint from you by telephone on 1800 658 404 or in writing to AMP Capital Investors Limited, GPO Box 5445, Sydney NSW 2001, we ensure an appropriate person properly considers the complaint, and we give you information about any further action available to you.
If we are unable to resolve your complaint within 24 hours, we will keep you informed, giving the time frame in which we expect to resolve the matter and the name of the representative managing the resolution of your complaint. We may also require additional information from you.
Indirect investors
You should contact your financial adviser or platform operator if you have a complaint related to your investment in the Fund. If your issue remains unresolved, you can contact the external dispute resolution scheme of which the platform operator is a member.
The distribution frequency for the Wholesale Australian Share Fund has been changed to half-yearly. This will align the Fund's distribution frequency with that of the two underlying funds in which the Fund invests.
Consequently, under 'Fund income - when and how?' on page 7 of the PDS dated 14th January 2008, the reference to quarterly is deleted and replaced with 'half-yearly'.