 |  |  |
| |||||||||
| ||||||||||||
 | ||||||||||||
| FIND AN ADVISER | INVESTMENT | INSURANCE | SUPERANNUATION |
| | Home | Investment | Wholesale Investment | Wholesale Australian Equity - Value Fund | |
Wholesale Australian Equity Value Fund
Overview
The Wholesale Australian Equity – Value Fund invests predominantly in Australian shares chosen for their potential to provide strong capital growth.
This Fund aims to
Provide you with long term capital growth; Outperform the S&P / ASX 300 Accumulation Index, after costs and over rolling five year periods.
What the Fund invests in?
The Fund holds a diversified portfolio of Australian industrial and resource stocks. These stocks will typically have a low share price in relation to their projected long term earnings power.
Who should invest in the Fund?
The Fund suits investors prepared to accept a high level of volatility and risk as a trade-off for returns that might typically be expected to be above those returned by other Australian asset classes over the longer term.
Product information update
Changes to the buy/sell margin
Effective 1 April 2007, the Fund’s buy margin will be decreased from 0.30% to 0.15%. The buy margin will be applied to all new investments into the Fund. In addition, the Fund’s sell margin will be decreased from 0.30% to 0.15%. The sell margin will be applied to all redemptions from the Fund.
What is a buy/sell margin?
When funds are invested, units are bought and when funds are withdrawn, units are sold. The difference between the ‘buy price’ and the ‘sell price’ of units is known as the buy/sell margin.
Buy/Sell margins are based on an estimate of the costs of buying or selling underlying assets. For example, there are brokerage costs when buying or selling shares and buying or selling property involves legal fees, agent fees and stamp duty.
Buy/Sell margins are intended to ensure that these costs are met by those investors who are buying and selling units, rather than by all investors. As an example, if an investor makes a $1,000 application for units in the Fund after 1 April 2007, then the impact of the revised buy/sell margin would be to reduce the value of the application by $1.50, (ie 0.15% of $1000). The impact of the revised buy/sell margin on a withdrawal of $1,000 would be to reduce the value of the withdrawal by $1.50, (ie 0.15% of $1,000).
These margins may change over time and are not retained by AXA, or external managers.
20 October 2006
Circumstances in which $25,000 minimum initial investment may be waived
National Mutual Funds Management Limited (NMFM) (ABN 32 006 787 720 AFS Licence No. 234652) as the Responsible Entity of the Fund has determined that it may waive the Fund’s minimum initial investment for individual investors who are part of a group of investors:
- whose aggregate investment exceeds this minimum; and
- which is together making an investment in the Fund as a consequence of a merger proposal or other restructure approved by NMFM.
NMFM has approved a proposal for the Fund to issue Class A units in the Fund to certain Split Equity Fund unit holders in exchange for their units in the Split Equity Fund (Merger proposal), if certain conditions precedent are met. The merger will only proceed if NMFM is satisfied that there will be no materially adverse consequences for the Fund at the time of the merger proceeding.
For this purpose NMFM has amended the constitution for the Fund to provide for a special merger unit price to apply to the issue of Class A units as at the date the Merger is implemented (Merger Implementation Date). The special merger unit price is calculated as at the Merger Implementation Date and is based on the net asset value of the Fund referable to Class A. The special merger unit price does not include an allowance for transaction costs as the Fund will not incur transaction costs in connection with the Merger proposal.
 |
 | Unit Price | 21/08/08 | Entry Price | 1.2777 | Exit Price | 1.2739 |  |
|
| |||||||||||||||||||||||||||||||||||||||||
This product summary is only provided for information purposes. It does not contain investment recommendation nor provides investment advice. Professional investment advice can help you determine your tolerance to risk as well as your need to attain a particular return on your investment. We strongly encourage you to obtain detailed professional advice and to read the relevant offer document in full before making an investment decision. Units in the fund will only be issued upon receipt of an application form accompanying a current disclosure document. The information is provided for persons in Australia only and is not provided for the use of any person who is in any other country.
 | ||||||
 |  | |||||
 | ||||||
| ||||||
| ||||||
| ||||||
| ||||||
|
