Important changes to the Akambo CA Managed Portfolios

**This email provides you with the required 30 days’ notice and sets out the key changes that may impact your account. Please refer to the updated Managed Portfolio Disclosure Document (MPDD) for further details, which should be read in conjunction with the Mason Stevens Super Product Disclosure Document (PDS) and Adiitional Information Guide (AIG).**

When will the changes take place?

16 October 2024

Why are you receiving this notice? 

You currently have investments in one or more of the following Akambo CA Managed Portfolios in your Mason Stevens Super account:

• Akambo CA 0 Managed Portfolios
• Akambo CA 2 Managed Portfolios
• Akambo CA 4 Managed Portfolios
• Akambo CA 6 Managed Portfolios
• Akambo CA 8 Managed Portfolios
• Akambo CA 10 Managed Portfolios 

What is changing?

Effective 16 October 2024, the suite of Akambo CA Managed Portfolios (CA Portfolios) will be closing and replaced by the suite of Akambo Concentrated CA Managed Portfolios (Concentrated Portfolios). Your existing investment in the CA Portfolios will be transitioned across to the Concentrated Portfolios as outlined in the table below:

Akambo Concentrated CA Managed Portfolios

Akambo Pty Limited (Akambo) operates the Concentrated Portfolios with an identical investment strategy and portfolio parameters as the current CA Portfolios. The key difference is the International Equity exposure within the Concentrated Portfolio is achieved through the Akambo International Equities Fund (Fund) rather than investments in direct international equities.

Further details on the Concentrated Portfolios can be found in the Managed Portfolio Disclosure document (MPDD): MPDD

How will this impact you?

Akambo operates the International Equities Fund with the same investment strategy as the existing international equity exposure within the CA Portfolios. The primary distinction is that portfolio holders will no longer pay brokerage for investment changes for their international equity holding. This will be replaced by an ongoing portfolio management fee of 0.52% per annum. Further details for the Fund can be found in the PDS at Akambo International Equities Fund PDS.

While transaction fees for the current CA Portfolios are 0.33% for all international equity buy and sell transactions, transaction fees within the managed fund structure will not be charged directly to you.

We have provided an example of approximate costs over the course of 12 months based on the below assumptions.

*Approx cost assuming an annual portfolio turnover of 60%

Why are we making these changes? 

The move to a managed fund structure will allow all clients, regardless of portfolio size, to be fully invested in the target portfolio weightings. This will ensure greater alignment with Akambo’s intended investment outcomes by making client investments identical through the Fund. 

Will transaction costs be incurred?

Transaction fees will not be incurred for the transition. Mason Stevens and Akambo have agreed to waive all transaction costs for the sell-down process involved in the transition. 

 Will the transition have any tax implications? 

The sell down of international equities may result in the realisation of capital gains or losses at the time of transition. 

What action is required by you?

You are not required to take any action. This document provides you with the required 30 days’ notice of the above changes that will take place in your account.

Should you have any queries about your investments, please reach out to your financial adviser or Mason Stevens Super using the information provided below.

Important Information 

Current as of 16 September 2024. This is general information only and does not constitute financial product advice. Because of this you should, before acting on this information, consider its appropriateness having regard to your objectives, financial situation and needs. This document provides an overview or summary only and it should not be considered a comprehensive statement on any matter or relied upon as such. Diversa Trustees Limited ABN 49 006 421 638 AFSL 235153 RSE Licence No. L0000635, is the Trustee of Mason Stevens Super (the “Fund”) an APRA-regulated fund ABN 34 422 545 198. Mason Stevens Limited ABN 91 141 447 207 AFSL 351578 is the Sponsor, Promoter and Custodian of the Fund. Mason Stevens Asset Management Pty Limited ABN 92 141 447 654 is the Investment Manager of the Fund and is a Corporate Authorised Representative of Mason Stevens Limited. FNZ (Australia) Pty Limited ABN 67 138 819 119 is the Administrator of the Fund. An investment in the Fund is only available through licensed financial advisers.