Yes. You need to include all pages of the application form even if they are left blank or you do not feel they are relevant.
The minimum investment for each fund is $50,000. The minimum additional investment for each fund is $5,000. IML may waive these minimum amounts in certain circumstances, such as investments by platforms or IDPS providers.
While an adviser can help identity your financial goals and decide whether an investment is suitable to your needs you are still able to invest directly with us. To invest directly in one of our funds you must carefully read the relevant Product Disclosure Statement, Target Market Determination and where applicable, the Investment Guide, that are available on our website to ensure you understand the fund and the risks involved. You can download the application form from this website. Follow the instructions on the application form. Once completed, provide your supporting identification documents required under the Anti-Money Laundering and Counter Terrorism Financing Act 2006 of Australia and send via mail to our Investment Administrator. You will also need to deposit your application monies directly into the fund’s bank account.
The Foreign Account Tax Compliance Act (FATCA) 2010 requires United States citizens, including those who live outside the United States to report their financial accounts. As a result we require our investors to fill in this section. If you do not fill this section out, IML will follow-up with you in order to receive the required FATCA information.
Some banks do not allow enough space to enter all of your account name details. You may shorten your account details to IML AS RE [Investor Name]. Please put in enough of your account name so that it is easy to apply to your application.
At this stage investors cannot transact (ie additional investments and withdrawals) online. New investors can submit only initial applications online.
Yes. You will need to submit a current application form to comply with the current legislation including FATCA notification, and you may also need to provide us with AML/CTF documentation for verification purposes if the new entity has not previously been identified for AML/CTF purposes.
No. Our unit registry will only accept a faxed copy or the original document.
No. All applications must be submitted on the current application form for the fund found under the Invest > New Investors section of this website. If you do send your application on an old application form, we will contact you and ask that you complete the current application form. We may choose to retain the AML/CTF verification documents so that you do not need to send these into us again as long as you have provided all the requested documents.
To make an additional investment please complete the additional investment form found under the Invest > Existing Investors section of this website. This form can be faxed or mailed to Citigroup’s Registry Department via the address and fax number found at the bottom of the additional investment form.
The Concentrated Australian Share Fund (Quoted Managed Fund) is the quoted class of units and the Concentrated Australian Share Fund is the unlisted unit class. Both classes exist within a single fund and follow the same investment strategy.
The Concentrated Australian Share Fund (Quoted Managed Fund) is an active exchange-traded fund (Active ETF). Investors can buy and sell shares in the Active ETF through the ASX as they can in any listed company.
The Concentrated Australian Share Fund is an unlisted unit trust. Investors buy and sell units through IML or your preferred platform.
With an actively-managed ETF, IML as the investment manager actively selects the underlying companies in which the Fund invests in different proportions to the companies’ weightings in a market index benchmark. A passive ETF holds the underlying companies in the same proportion to their weightings in a market index benchmark.
The ASX website’s Investing in ETFs and Other ETPs page may also be helpful.
The ‘marketmaker’ provides liquidity for investors during the ASX Trading Day, by providing bids and offers in the market at a tight spread to the Indicative Net Asset Value (iNAV).
A Quoted Managed Fund or active ETF is designed to trade at a price close to its underlying Net Asset Value (NAV). This means that the price an investor pays for units in the quoted class should closely reflect the underlying assets of the Fund.
The iNAV is the indicative or intraday Net Asset Value for the Fund. The iNAV reflects the real-time movements in sharemarkets during the ASX Trading Day, and for securities not trading during the ASX Trading Day, listed proxy investments (including futures) may be selected on the basis of correlations with the underlying investments.
The iNAV therefore represents the estimated value of the underlying portfolio of the Fund’s stockholdings. The iNAV is updated in real time and published on the fund page throughout the ASX Trading Day.
The market maker uses the iNAV to provide bids and offers.
The bid/offer spread covers the transaction costs a fund incurs when buying and selling assets, such as brokerage, government taxes, and bank charges. These spreads are applied around the iNAV through the ASX Trading Day.
We will be showing the end of day NAV (net asset value), which is broadly equivalent to the unit price for the unlisted class of the Fund.
We will also be publishing the listed vehicle’s iNAV (an indicative NAV calculated by a third party which represents an approximate NAV based on a number of factors while the market is open).
The top 10 holdings are displayed on this website, and also in the fund’s monthly report which you can find on the ASX.
The Quoted Managed Fund also discloses to the ASX its full underlying stockholdings quarterly, within two months after quarter end.
To move your investment from an unlisted to a listed class of units in an applicable IML fund, submit a switch request by 4:00pm on a Business Day in Sydney. This day is designated ‘T’, the day of your transaction.
The following day (T+1), your holding in the unlisted class of units of the Fund will be redeemed at the NAV price for the quoted class of units of the Fund applicable on the day of your transaction (T).
On the same day, your application into the quoted class of units in the Fund will be processed at the NAV price applicable on the day of your transaction (T).
You will be notified about your acquisition of shares in the quoted class of units in the Fund on T+2, or two Business Days after you have made the application to switch your investment.
Switching between the unlisted and listed class of units an applicable IML fund may trigger a Capital Gains Tax (CGT) scenario, so before making any decision to switch, you should consult your tax adviser about any potential CGT consequences.ETF SWITCH FORM
Quoted Managed Fund is an active exchange-traded fund (Active ETF). Investors can buy and sell shares in the Active ETF through the ASX as they can in any listed company.
A traditional managed fund is an unlisted unit trust. Investors buy and sell units through Investors Mutual Limited as the responsible entity for the Fund.
The ASX website’s Investing in ETFs and Other ETPs page may also be helpful.
It is our intention that the Fund is liquid. For a quoted managed fund, the units are traded on the ASX.
IML’s funds are available on most leading platforms. Please see the how to invest section at the bottom of each fund page.
All our funds generally distribute half yearly, with the exception of the Investors Mutual Equity Income Fund that generally distributes quarterly. IML’s website will display distribution details including cum, ex prices and cpu as well as a timetable for any current distributions.
It is IML’s intention that each fund is liquid. You may withdraw part or all of your investment on a daily basis. However, should you wish to partially redeem your investment, your account balance cannot fall below the minimum of A$50,000.
Initially, you will need to confirm that the holding is above the $50,000 minimum required for all funds. You can then transfer the unitholding using a standard transfer form. You may be required to pay stamp duty to the Office of State Revenue, depending upon the details of the transfer. Payment can be made online at the website of the Office of State Revenue at revenue.nsw.gov.au.
You will also need to complete a new application form and send this with the transfer form, and any certified copies of your AML/CTF documents.
All documents must be mailed directly to Citigroup’s unit registry department. The address is found on the last page of the application form. The transfer will take approximately 4 days to process, depending upon the details of the transfer.
Alternatively you can redeem all your units, and then complete a new application form once you have received the funds.
Contact us for further information.
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