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AMP Capital Equity Income Generator

Global Equities and Fixed Income (GEFI) Sale - Update for Investors (Last updated 17 May 2022)

Proposed change of responsible entity for two Australian Equities funds

  • AMP Capital Australian Equity Income Fund (ARSN 165 631 818) (also known as AMP Capital Equity Income Generator)
  • AMP Capital Equity Fund (ARSN 089 596 850) (also known as AMP Capital Equity)

On 17 May 2022 we wrote to investors (Members) in the abovenamed funds to notify them that we’re proposing to change the responsible entity from AMP Capital Funds Management Limited (AMPCFM) to ipac Asset Management Limited (IAM), another member of the AMP Group.

AMPCFM believes IAM has the requisite specialist expertise to continue to provide high quality governance for each fund. Presently, IAM acts as the responsible entity for other registered managed investment schemes.

Members in each fund can request a vote on the proposed change. If eligible Members don’t request a vote, then the responsible entity will automatically change to IAM on or around 14 June 2022.

If the change of responsible entity for the Fund does not occur, AMPCFM will remain as responsible entity of the Fund.

You can read more about the proposed change in the notice to members (Notice) for the AMP Capital Australian Equity Income Fund and the AMP Capital Equity Fund.

Current information and assistance
Please continue to visit this website for current information about the proposed timing of the retirement of AMPCFM as responsible entity of the Fund and the appointment of IAM and manner in which the retirement and appointment will occur.

If you have any questions relating to the proposed change of responsible entity, please contact our Client Services Team on 1800 658 404, between 8.30am and 5.30pm (Sydney time) Monday to Friday or via email at clientservices@ampcapital.com.

If you’re invested in Flexible Lifetime Investments (Series 1 and Series 2), please contact our Client Services Team on 133267 between 8.30am and 5.30pm (Sydney time) Monday to Friday or via email at trustinfo@amp.com.au.

About the new investment manager
Macquarie Investment Management Global Limited (ABN 90 086 159 060 AFSL 237843), a division in Macquarie Asset Management, delivers a full-service offering across a range of asset classes including fixed interest, listed equities (domestic and international) and infrastructure securities to both institutional and retail clients in Australia and the US, with selective offerings in other regions. It also selects specialist investment managers to bring their signature strategies to investors through the Macquarie Professional Series.

Macquarie Asset Management is the asset management division of the Macquarie Group. Macquarie Group is a global financial services group operating in 33 markets in asset management, retail and business banking, wealth management, leasing and asset financing, market access, commodity trading, renewables development, specialist advisory, capital raising and principal investment.

About the new investment team
Macquarie’s Quantitative Investment Strategies investment team have been managing systematic strategies for over 25 years, originally in Australia before expanding into global markets. The team manages over $43.5 billion of assets (as at 30 September 2021) across a range of passive and active strategies. The team’s broad range of quantitative capabilities is based on its time-tested belief that typical human behaviour leads to investor biases which can be captured in a risk-controlled systematic framework. At the core of the team’s quantitative capability lies its market leading research platform, built using proprietary systems and infrastructure.

About the Responsible Entity

AMP Capital Funds Management Limited (AMPCFM) is the current Responsible Entity (RE) for the Fund. An RE is the governing entity responsible for the overall management of a fund and must act in the best interests of members and in compliance with the law. It appoints and monitors the Investment Manager and other service providers.

Description of target market for this fund

This product is likely to be appropriate for a consumer seeking capital growth and regular income to be used as a satellite/core holding within a portfolio where the consumer has a medium to long investment timeframe and a high risk/return profile. The fund provides daily access to capital.

Withdrawal frequency

Withdrawals are allowed daily. Withdrawals are normally processed within 5 business days.

Risk profile

The Fund may be suitable for a consumer with a higher risk profile who can accept higher potential losses (eg has the ability to bear up to 6 negative returns over a 20-year period (SRM 6)) in order to target a higher return.

What are the key risks associated with the fund?

Returns are not guaranteed. Australian shares carry a higher level of short-term risk, particularly if you do not hold your investment for the minimum suggested investment timeframe. Other risks relate to the risk of capital loss, where future returns may differ from past returns. The level of returns may vary, the value of your investment may vary, and there may be the risk of invested capital.

In addition, a key risk associated with the Fund is market risk. The Fund will be affected by any risks associated with the shares listed, or about to be listed, on the Australian Securities Exchange. These include risks in relation to how those shares or other investments perform, how sustainable their earnings are, and other factors that affect value and performance, as well as risks associated with international investments and liquidity risks.

Risks associated with the fund may include share market investment risk, where the value of the Fund’s investment in listed securities may decrease as a result of adverse share market movements.

Other risks may include or be associated with companies, investment management, derivatives, liquidity, property investments, sector, securities lending and small companies. Before choosing to invest in the Fund, investors should read the Product Disclosure Statement and Incorporated Information, and consider factors such as the likely investment return, the risks of investing and their investment timeframe.

APIR code AMP1931AU
Investment objective The Fund aims to provide annual dividend income (including franking credits) above the dividend income of the performance benchmark.* The Fund also aims to provide a totalreturn (including franking credits) in excess of the overall performance benchmark* on a rolling 5 year basis.
Minimum suggested timeframe 5 years
Distribution frequency Monthly
Product inception date 12 Dec 2013
Risk level (1-7) 6. High
Benchmark S&P/ASX 200 Accumulation Index AUD
Product status Closed to all client applications from 10 May 2022

The Fund's risk level is based on the estimated number of negative annual returns for the Fund over any 20 year period and is not a complete assessment of the risks of investing in the Fund. For instance it does not detail what the size of a negative return could be or the potential for a positive return to be less than an investor may require to meet their objectives. Consequently, before choosing to invest or reinvest in the Fund, you should read the Fund's PDS and incorporated information and consider factors such as the likely investment return, the risks of investing and your investment time frame. Information about the methodology used for calculating the risk level is available here.

Fund Information

APIR code
AMP1931AU
Minimum investment
$10,000

Unit Prices

As at 17 May 2022
Buy
1.09781
Sell
1.09342

Performance

As at 30 Apr 2022
1 Month 0.35%
3 Month 9.68%
1 Year 11.56%
3 Year 10.11%
5 Year 7.71%
Since inception 7.34%
Past performance is not a reliable indicator of future performance.

Important note: The unit prices displayed in this section are indicative only

If unit prices are not available for today then the latest available prices will be displayed. Unit prices are not calculated on weekends or public holidays.

Our unit price discretion policy states where we may exercise certain discretions in determining the unit price of units on application or withdrawal in each investment option. View and download our Unit Pricing Discretions Policy for the types of discretions that we may exercise, in what circumstances, our policies on how we exercise the discretions and the reasons why we consider our policies are reasonable.

 

AMP Capital funds
NMFM Unit Trust funds

 

Unit prices are provided for your information only and are not guaranteed. They are based on historical data and you should not rely on the above information as the basis for making any investment, financial or other decision as past unit prices are not a reliable indicator of future unit prices.

 

During the time it takes to process an application or redemption application, the unit price may vary and the actual unit prices applying to applications and redemptions may differ from those displayed in this section. Actual unit prices can be confirmed on receipt of a completed application or redemption form.

 

None of AMP Capital Funds Management Limited (ABN 15 159 557 72, AFSL 426455), AMP Capital Investors Limited (ABN 59 001 777 591, AFSL 232497), National Mutual Funds Management Limited (ABN 32 006 787 720, AFSL 234652), or any company within the AMP Group makes any representation or warranty as to the reliability, completeness or accuracy of the unit price information or accepts any responsibility arising in any way (including by reason of negligence) for errors in or omissions from the unit price information.

The information in this section is not an offer or recommendation of securities or other financial products offered by the AMP Group and is not an invitation to take up securities or other financial products. Investors should consider the relevant PDS available from us for the relevant fund before making any decision regarding the product.

Important notes: Past performance

Past performance is not a reliable indicator of future performance.

Performance is annualised for periods greater than one year. Total returns are calculated using the unit price which uses the net asset values for the relevant month end. This price may differ from the actual unit price for an investor applying for or redeeming an investment. Actual unit prices will be confirmed following any transaction by an investor. Returns quoted are before tax, after fees and costs, and assume all distributions are reinvested.

APIR code AMP9025AU
Investment objective The Fund aims to provide annual dividend income (including franking credits) above the dividend income of the performance benchmark.* The Fund also aims to provide a totalreturn (including franking credits) in excess of the overall performance benchmark* on a rolling 5 year basis.
Minimum suggested timeframe 5 years
Distribution frequency Monthly
Product inception date 08 Dec 2014
Risk level (1-7) 6. High
Benchmark S&P/ASX 200 Accumulation Index AUD
Product status Closed to all client applications from 10 May 2022

The Fund's risk level is based on the estimated number of negative annual returns for the Fund over any 20 year period and is not a complete assessment of the risks of investing in the Fund. For instance it does not detail what the size of a negative return could be or the potential for a positive return to be less than an investor may require to meet their objectives. Consequently, before choosing to invest or reinvest in the Fund, you should read the Fund's PDS and incorporated information and consider factors such as the likely investment return, the risks of investing and your investment time frame. Information about the methodology used for calculating the risk level is available here.

mFund Information

Product code
ACA01
Minimum investment
$10,000

Unit Prices

As at 17 May 2022
Buy
1.08147
Sell
1.07716

Performance

As at 30 Apr 2022
1 Month 0.35%
3 Month 9.68%
1 Year 11.55%
3 Year 10.12%
5 Year 7.81%
Since inception 7.36%
Past performance is not a reliable indicator of future performance.

Important note: The unit prices displayed in this section are indicative only

If unit prices are not available for today then the latest available prices will be displayed. Unit prices are not calculated on weekends or public holidays.

Our unit price discretion policy states where we may exercise certain discretions in determining the unit price of units on application or withdrawal in each investment option. View and download our Unit Pricing Discretions Policy for the types of discretions that we may exercise, in what circumstances, our policies on how we exercise the discretions and the reasons why we consider our policies are reasonable.

 

AMP Capital funds
NMFM Unit Trust funds

 

Unit prices are provided for your information only and are not guaranteed. They are based on historical data and you should not rely on the above information as the basis for making any investment, financial or other decision as past unit prices are not a reliable indicator of future unit prices.

 

During the time it takes to process an application or redemption application, the unit price may vary and the actual unit prices applying to applications and redemptions may differ from those displayed in this section. Actual unit prices can be confirmed on receipt of a completed application or redemption form.

 

None of AMP Capital Funds Management Limited (ABN 15 159 557 72, AFSL 426455), AMP Capital Investors Limited (ABN 59 001 777 591, AFSL 232497), National Mutual Funds Management Limited (ABN 32 006 787 720, AFSL 234652), or any company within the AMP Group makes any representation or warranty as to the reliability, completeness or accuracy of the unit price information or accepts any responsibility arising in any way (including by reason of negligence) for errors in or omissions from the unit price information.

The information in this section is not an offer or recommendation of securities or other financial products offered by the AMP Group and is not an invitation to take up securities or other financial products. Investors should consider the relevant PDS available from us for the relevant fund before making any decision regarding the product.

Important notes: Past performance

Past performance is not a reliable indicator of future performance.

Performance is annualised for periods greater than one year. Total returns are calculated using the unit price which uses the net asset values for the relevant month end. This price may differ from the actual unit price for an investor applying for or redeeming an investment. Actual unit prices will be confirmed following any transaction by an investor. Returns quoted are before tax, after fees and costs, and assume all distributions are reinvested.

Important information:

* Distributions for AMP Capital Australian Income Fund are preannounced six months in advance. It is important to note that the final annualised distribution yield will not be known until the end of the financial year, that the distribution yield estimate is not guaranteed, and that it may change due to market conditions. AMP Capital Funds Management Limited (ABN 15 159 557 721, AFSL 426455) (AMPCFM) is the responsible entity of the AMP Capital Australian Equity Income Fund, known as the AMP Capital Equity Income Generator ("the Fund") and the issuer of the units in the Fund.

To invest in the Fund, investors will need to obtain the current Product Disclosure Statement (PDS) from AMP Capital Investors Limited (ABN 59 001 777 591, AFSL 232 497) (AMP Capital). The PDS contains important information about investing in the Fund and it is important that investors read the PDS before making a decision about whether to acquire, or continue to hold or dispose of units in the Fund. Neither AMP Capital, AMPCFM nor any other company in the AMP Group guarantees the repayment of capital or the performance of any product or any particular rate of return referred to in this information. Past performance is not a reliable indicator of future performance. While every care has been taken in the preparation of this information, AMP Capital makes no representation or warranty as to the accuracy or completeness of any statement in it including without limitation, any forecasts. This content has been prepared for the purpose of providing general information, without taking account of any particular investor’s objectives, financial situation or needs. Investors should, before making any investment decisions, consider the appropriateness of this information, and seek professional advice, having regard to their objectives, financial situation and needs. This content is not intended for distribution or use in any jurisdiction where it would be contrary to applicable laws, regulations or directives and does not constitute a recommendation, offer, solicitation or invitation to invest. A target market determination has been made in respect of the Fund and is available at www.ampcapital.com/tmd.

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