What is a Managed Fund?
Managed funds provide investors with the opportunity to pool money with other investors. The pool of monies is then professionally managed according to the investment objective and style of each fund.
Pursuit Select Investment Service
- $10,000 minimum entry or $2,500 (with regular savings plan)
- Offers investors enhanced features and functionality to provide a greater level of investment control and flexibility
- Suited to individual and joint investors, partnerships, trusts, companies and self managed super funds
- Access to term deposits and a comprehensive range of managed funds across all asset classes and styles including around 180 managed funds from over 25 leading fund managers, generally at wholesale prices.
- Flexible withdrawal and income distribution options
- Switchability - Move between similar products in the Core and Select models as your circumstances change (conditions apply)
- Transparent fees - One Administration Fee regardless of how many times you transact on your investments account. Administration Fees are capped at $3,150 p.a. for account balances of $500,000 and above
- Track your investment online via IOOF's portfolio management tool, Portfolio Online
The Pursuit Select Investment Service offers you a comprehensive investment management and administration service to help you achieve you financial goals. When you invest you gain access to around 180 managed funds and term deposits, choosing the investments that suit you. Your investments through the Pursuit Select Investment Service can be used for anything from simple wealth creation to meeting longer-term retirement plans. Let us take the hassle out of investing while you retain control and begin working towards achieving your financial goals today.
How does the Pursuit Select Investment Service work?
The Pursuit Select Investment Service allows you to construct and manage a range of investments, while the administrative, record keeping and reporting hassles usually associated with direct investment are handled by us. This investment vehicle provides you with a flexible and cost-effective way to access a wide range of managed funds that have been professionally selected by us.
This type of investment arrangement is known as an 'Investor Directed Portfolio Service' or 'IDPS' (sometimes referred to as a 'wrap'). Since we hold and administer all investments on your behalf, you provide us with the instructions and then we do the rest. Sophisticated investing made simple.
Is Pursuit Select the right investment service model for me?
The Pursuit Select Investment Service offers investors enhanced features and functionality to provide a greater level of investment control and flexibility. This service is suited for individual and joint investors, partnerships, trusts, companies and self managed super funds.
With a transparent fee structure, access to a wide range of managed funds across all asset classes and flexible investment instructions and income distribution options, the Pursuit Select Investment Service is designed to suit the sophisticated and experienced investor.
If you have clear financial goals and appreciate greater investment flexibility, but want the simplicity of consolidated reporting and a low cost transparent fee structure, the Pursuit Select Investment Service can be tailored to suit your individual financial objectives.
Key features and benefits
| Features | Benefits | |
|---|---|---|
| Managed funds that are easy to access |
A comprehensive range of managed funds across all asset classes and styles including around 180 managed funds from over 25 leading fund managers, generally at wholesale prices. Includes access to IOOF multi - manager Trusts for simple and easy investment choice. |
Investment choice that meets your needs - all managed funds are well researched and monitored by us. |
| Switchability (within models) | Easy and flexible investment instruction methods allowing you to seamlessly transfer between managed funds in the same model. | Control - you and your financial adviser remain in control of your investment at all times. |
| Switchability (between models) | Move between similar products in the Select and Core models. | Make changes easily if your circumstances alter without having to change your investment provider. |
| Flexible withdrawal and income distribution options | Choose the amount and frequency of withdrawals, including income distributions, from your Pursuit Select Investment Service account. | Flexibility - flexible income distribution options. |
| Transparent fees | One Administration Fee regardless of how many times you transact on your account. | Clear cut and competitive pricing - a straightforward cost structure that is completely transparent. |
| Margin lending facility | To allow you to invest larger amounts by borrowing funds from approved lenders. | Gearing your portfolio |
| Fee aggregation | Gives you and your family the ability to link up to four IOOF Pursuit Select accounts (conditions apply) to gain a reduction in the total Administration Fee that applies to each account. | Reduce the Administration Fee paid on "linked" accounts by you and your family through Fee Aggregation. |
| Service and support | Comprehensive and consolidated reporting on all of your investments in your investments account via a secure online site Portfolio Online. | Access to the right information - Regular communications providing access to information about your investments account when you need it. |
| More investment solutions | Access to a range of other Pursuit products and services to cater for all of your life stages including Personal Super and Allocated Pension. | Use the specialist funds manager and administration platform provider that you know, to access superannuation and pension products that can help you to achieve your financial goals. |
| Expertise |
The knowledge and expertise of a Service Operators with the experience of servicing the needs of investors and members with over $23.6 billion* in funds under management and administration. * As at 31 December 2008 |
Financial peace of mind |
How much does it cost?
All fees charged are shown separately and are completely transparent. The Pursuit Select Investment Service is highly competitive and easy to understand. We only charge you one Administration Fee regardless of how many times you transact on your investments account.
The fees and costs for managing your Pursuit Select Investment Service account are:
-
Administration Fee
Part of your
account balanceAdministration Fee $0 - $100,000 0.95% p.a. Next $400,000 0.55% p.a. Above $500,000 NIL
There is a minimum Administration Fee of $30 per month ($360 p.a.) and a maximum Administration Fee of $3,150 p.a. - no matter how large your investment account. The minimum Administration Fee generally applies to account balances below $37,895 and the maximum applies to account balances above $500,000.
- Management Costs applied by each investment manager - these are charged separately by the investment manager for each managed fund. The fees for each managed fund you choose are set out in the Pursuit Select Investment Service investment options menu and in the relevant product disclosure statement (PDS) for each underlying managed fund.
- Adviser Service Fee(s) - this fee is where you choose for financial advice to be provided in relation to your investment in the Pursuit Select Investment Service. You and a financial adviser selected by you have the flexibility to nominate an amount (if any), within limits that are set by us, for each of the three Adviser Service Fee options available, namely
- Adviser Service Fee - Upfront payable on each deposit;
- Adviser Service Fee - Ongoing payable as a percentage of your account balance or a fixed monthly amount; and/or
- Adviser Service Fee - Once Off a single fee as agreed with the financial adviser.
These fees are charged by us and we deduct the cost from your investment account. We then pay the full amount of our fees to the financial adviser for the financial advice and services provided in relation to your account. Unless you agree to these fees and specify otherwise, the Adviser Service Fee(s) are automatically set at zero.
Note: Fees are inclusive of GST and net of any reduced input tax credits.
How do I start investing?Before you begin investing through the Pursuit Select Investment Service you need to obtain a copy of the Pursuit Select Investment Service IDPS Guide (Offer Document). Your financial adviser can provide this or you can call an IOOF Client Services Officer on 1800 062 963.
Once you have read and understood the Offer Document your financial adviser can help you work out your investment strategy, select managed funds intended to achieve that strategy and assist you to complete your Application Form.
We look forward to working with you to achieve your financial goals.
IOOF - Your Investment Guardians