2016 Annual Report - Home - Oasis...types (direct securities and managed funds), asset classes (traditional and alternative), investment managers and investment styles. • Liquidity

2016 Annual Report

Wealthtrac Superannuation Master TrustWealthtrac Employer Superannuation PlanWealthtrac Personal Superannuation Plan

Issued December 2016

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ContentsInvesting your money 3

Asset allocation 6

Other information 8

Financial information 12

Important informationWealthtrac Superannuation Master Trust, Wealthtrac Employer Superannuation Plan and Wealthtrac Personal Superannuation Plan (Wealthtrac) are offered by Oasis Fund Management Limited (OFM). When you invest in Wealthtrac, you become a member of the Oasis Superannuation Master Trust (ABN 81 154 851 339, RSE R1004939) (Master Trust).

OnePath Life Limited (ABN 33 009 657 176, AFSL 238341) (OnePath Life) is the issuer of OneCare, an insurance product offered through the Master Trust.

The information and assumptions in this Annual Report are provided in good faith for you and your financial adviser and are current as at 30 June 2016, unless otherwise stated.

Please note that this Annual Report is not intended to provide legal, investment or taxation advice (for which you should consult the appropriate professional adviser), and has been prepared without taking into account your objectives, financial situation and needs. Before making a decision based on this material, you should consider the appropriateness of the information, having regard to your objectives, financial situation and needs.

Before acquiring or continuing to hold a product mentioned in this Annual Report, you should consider the relevant Product Disclosure Statement (PDS) to determine whether the product is appropriate for you.

Unless otherwise stated, the value of your investments will fluctuate as the values of underlying assets rise or fall.

In this Annual Report, the terms ‘we’, ‘us’ and ‘our’ refer to Oasis Fund Management Limited. The terms ‘Wealthtrac’ and ‘Wealthtrac superannuation products’, refers to Wealthtrac Superannuation Master Trust, Wealthtrac Employer Superannuation Plan and Wealthtrac Personal Superannuation Plan (as applicable).

TrusteeOasis Fund Management Limited (AFSL No 274331, ABN 38 106 045 050 RSE L0001755) (the Trustee) is the Trustee of the Master Trust and the issuer of this Annual Report. The Trustee has indemnity insurance cover in respect to its trusteeship of the Master Trust. Your investment is subject to investment risk, including possible repayment delays and loss of income and principal invested.

Oasis Fund Management Limited 242 Pitt Street, Sydney NSW 2000

Telephone: 1300 552 477 Website: oasisasset.com.au

Trust DeedThe Master Trust is governed by a Trust Deed, a copy of which is available upon request by contacting Client Services on 1300 552 477 or by visiting the Trustee website at oasisasset.com.au/RSE

AdministratorAs at 30 June Oasis Asset Management Limited (ABN 68 090 906 371) is the administrator of the Master Trust and administers Wealthtrac on behalf of the Trustee.

Oasis Asset Management Limited 242 Pitt Street Sydney NSW 2000

Locked Bag 1000 WOLLONGONG DC NSW 2500

From 12 December 2016, the administrator will be changing to Macquarie Investment Management Limited (ABN 66 002 867 003, AFSL 237492).

Macquarie Investment Management Limited GPO Box 3154 Sydney NSW 2001

AuditorKPMG is the auditor of the Master Trust and is responsible for the annual audit of the Master Trust as well as reviewing whether certain requirements of the superannuation laws are met.

Client ServicesAvailable Monday to Friday (except for public holidays) 8.30am – 6.00pm (Sydney Time) Telephone: 1300 552 477 Facsimile: (02) 4224 1901

Email: [email protected] Website: wealthtrac.com.au

From 12 December 2016, Client Services details are as follows:

Monday to Friday (except for public Holidays) 8.00am and 7.00pm (Sydney Time)

Telephone: 1800 893 097 Facsimile: 1800 097 234

Email: [email protected] Website: wealthtrac.com.au

Directors of Oasis Fund Management LimitedThe Directors of OFM for the period 1 July 2015 to 30 June 2016 are provided below:

• P G Mullin (Appointed 01/03/2015)

• S J Chapman (Appointed 22/08/2011)

• V S Weekes (Appointed 22/08/2011)

• C G Clark (Appointed 01/03/2013)

• T M McGrath (Resigned on 07/04/2016)

• Alan Chonowitz (Appointed 01/03/2015)

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Investing your moneyTrustee’s investment objective and strategyThe Trustee’s objective is to offer members a diverse and broad range of managed funds, term deposits and ASX listed securities so that a member may be able to, with the assistance of their financial adviser, develop investment strategies for their particular investment goal, risk profile and life stage. The Trustee’s investment strategy has regard to:

• Diversification

The Trustee considers the level and adequacy of diversification of the investments covered by the strategy in order to meet the needs of members across the full risk profile spectrum.

To ensure a high level of diversification and minimise risks from inadequate diversification, the Trustee makes available a broad range of investments across investment types (direct securities and managed funds), asset classes (traditional and alternative), investment managers and investment styles.

• Liquidity

The Trustee considers the liquidity of the underlying assets when assessing the investment as part of its selection criteria and reviews liquidity stress testing of the options as performed by the managers. The Trustee maintains a set minimum of the Fund’s assets in cash at all times. This recognises the Trustee’s requirements to pay expenses, tax and benefits when they become due and accounting for circumstances beyond its control.

• Valuation

The Trustee takes into consideration the reliability of valuation information to ensure members receive accurate unit pricing and returns on their investments. Managed fund unit prices are determined in accordance with each external fund’s constitution and are usually calculated each business day by the external fund manager and/or their appointed administrator.

Where the investment option has exposure to certain types of assets for which daily prices are unavailable (e.g. alternatives, private equity or direct/unlisted property and infrastructure), these assets may be valued less frequently.

• Product Complexity

The Trustee considers the complexity of products and their suitability to members when assessing investments as part of its selection criteria.

• Cost and Taxes

The Trustee reviews the investment costs which may be incurred in relation to the investment option. This includes the size and reasonableness of the overall costs in absolute terms and relative to other investment options on the menu and available in the Australian market, the impact on investment option net performance and on achieving stated investment objectives and the alignment of the investment option fee structure with investment objectives and meeting investors’ longer term interests.

The Trustee considers the potential impact of taxes on the performance of the investment as part of its selection criteria.

• Use of derivatives

The Trustee considers the potential risk exposure associated with derivatives when assessing investment options and reviews manager Derivative Risk Statements to ensure appropriate use of derivatives.

The Trustee takes into consideration existing and prospective investment liabilities when assessing investment options and its ability to discharge any liabilities and any potential large redemptions. Note that the Fund is not a defined benefit fund, nor is it capital guaranteed.

The Trustee places significant importance on the assessment of investments prior to making them available to investors. The Trustee takes into account the requirements of the Superannuation Industry (Supervision) Act 1993 (SIS), APRA Prudential Standards, APRA Guidelines, Corporations Act 2001 and general Trust law for any new managed investments proposed.

The Trustee’s key selection criteria and considerations in assessing managed fund investments prior to making them available to investors include:

• the fund must be a registered scheme with ASIC;

• the fund must be open to investment for new and existing clients;

• the fund must be managed by a leading investment manager in the appointed asset class and must form part of a strong organisational structure;

• the investment team responsible for managing the fund must be well resourced, experienced and stable;

• the investment manager must have a clear investment philosophy and process for the management of the fund;

• consideration of the fund’s valuation policy for the underlying assets;

• there must be clearly identifiable risk factors and sources of return and minimal level of complexity associated with the fund;

• the fund must have strong independent research house ratings;

• the fund must have competitive long term investment performance. Where no long term performance is available, short term performance will be considered along with the portfolio management team’s previous track record;

• the fund’s liquidity and the liquidity of the underlying investments. Liquidity and stress testing analysis of the fund must have been completed by the investment manager. The analysis should be in line with expectations given the fund strategy and asset allocation.

You can select approved Australian Securities Exchange (ASX) listed securities, term deposits, or choose from a menu of over 270 managed funds. Specific information (including objectives and strategies) for each individual managed fund can be obtained from the relevant Product Disclosure Statement. The underlying PDS for each investment is available upon request from your financial adviser or via the Wealthtrac website at wealthtrac.com.au

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Investment managersWealthtrac is supported by some of Australia’s leading fund managers to provide you with a broad range of managed investments.

The names of the investment managers of the managed investments and term deposits are as follows:

• Aberdeen Asset Management Limited

• AHL Partners LLP

• AllianceBernstein Australian Limited

• Alphinity Investment Management Pty Ltd

• AMP Capital Investors Limited

• Antares Capital Partners Ltd

• APN Funds Management Ltd

• Arnhem Investment Management Pty Ltd

• Arrowstreet Capital, Limited Partnership

• Ausbil Investment Management Limited

• Australian Ethical Investment Ltd

• Bennelong Australian Equity Partners Pty Ltd

• Bentham Asset Management Pty Ltd

• BlackRock Investment Management (Australia) Limited

• BT Investment Management (Institutional) Limited

• Carnegie Asset Management

• CBG Asset Management Limited

• CBRE Clarion Securities, LLC

• Celest Funds Management Limited

• Colonial First State Asset Management (Australia) Limited

• Copper Rock Capital Partners LLC

• Denning Pryce Pty Ltd

• Deutsche Australia Limited

• Eley Griffiths Group Pty Ltd

• Epoch Investment Partners, Inc.

• FIL Limited

• Franklin Templeton Investments Australia Limited

• Goldman Sachs Australia Managed Funds Limited

• Henderson Global Investors Limited

• Hyperion Asset Management Limited

• Invesco Australia Limited

• Investors Mutual Limited

• JPMorgan Asset Management (Australia) Limited

• K2 Asset Management Ltd

• Kapstream Capital Pty Limited

• Karara Capital Pty Limited

• Kardinia Capital Pty Limited

• Lazard Asset Management Pacific Co

• Lighthouse Investment Partners, LLC

• Macquarie Investment Management Global Limited

• Magellan Asset Management Limited

• Maple-Brown Abbott Limited

• Merlon Capital Partners Pty Ltd

• MFS Institutional Advisors, Inc

• MLC Investments Limited

• Nikko AM Limited

• Novaport Capital Pty Ltd

• OC Funds Management Limited

• Onepath Funds Management Limited

• Pengana Capital Limited

• Perennial Value Management Limited

• Perpetual Investment Management Limited

• Phoenix Portfolios Pty Ltd

• PIMCO Australia Pty Limited

• Platinum Asset Management Limited

• Plato Investment Management Limited

• PM CAPITAL Limited

• RARE Infrastructure Limited

• Realindex Investments Pty Limited

• Renaissance Property Securities Pty Ltd

• Russell Investment Management Ltd

• Schroder Investment Management Australia Limited

• SG Hiscock & Company Limited

• Smallco Investment Manager Limited

• Solaris Investment Management Limited

• T. Rowe Price International Ltd

• Tribeca Investment Partners Pty Ltd

• UBS Global Asset Management (Australia) Ltd

• Value Partners Hong Kong Limited

• Vanguard Investments Australia Ltd

• Walter Scott and Partners Limited

• Waverton Investment Management Ltd

• Winton Capital Management Limited

• Zurich Investment Management Limited

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Investment managers who exceed five per cent of the total assets of the Master Trust

INVESTMENT MANAGERNET MARKET

VALUE

Russell Investment Management Limited 8.61%

Vanguard Investments Australia Limited 8.23%

Australia and New Zealand Banking Group Limited* 5.90%

Perpetual Investment Management Limited 5.18%

Platinum Investment Management Limited 5.01%

* Includes cash balances held by the Master Trust with Australia and New Zealand Banking Group Limited.

Selecting investment optionsWhen selecting investment options, you need to consider how long you wish to invest your money and the level of risk you are prepared to accept. In general, investments with the potential to earn higher returns (for example, shares) carry the higher risk. Not only may the rate of return go up and down, but the value of your investment (the capital value) can also rise and fall. For investments that generally earn lower returns (for example, cash), the capital value is less likely to fluctuate.

You may change/switch all or part of your existing account balance between investment options. Please note that transaction cost factors may apply upon switching (Switching fees may also apply).

DiversificationWealthtrac allows you to diversify your superannuation investments by providing access to a wide range of managed investments, term deposits and listed securities.

Diversification is achieved by holding more than one type of investment. Investors are able to achieve diversification using one, or a combination, of the following:

• holding different assets – such as shares in different companies

• investing in different asset classes – such as shares, property and fixed interest

• investing with several fund managers – all with different investment styles.

Depending on how you diversify, underperformance in one area may be offset by positive performance in another.

Detailed information about the current managed investments offered through the Master Trust is available through your financial adviser.

Investment earningsUnits and shares are allocated to you proportionally according to the size of your investment in the underlying managed investment or listed security. At any time, your investment is equal to the number of units and/or shares you have been allocated, multiplied by the prevailing unit price of the relevant underlying managed investment or relevant share price.

The net investment earnings (after deduction of management fees and taxes) are reflected by changes in the unit price, plus distributions, interest and dividends credited to your account. Distributions, interest payments and dividends from the underlying holdings can either be allocated to your Cash Account where they accrue interest, or you can use them for reinvestment.

You should refer to your Annual Statement for the year ended 30 June 2016 for details of investment performance relating to your chosen investments.

Alternately, information on the performance of accessible funds is available by logging onto to your online account via MoneyOne.

DerivativesThe Trustee did not directly invest in derivative investments for the year ending 30 June 2016 and it is the policy of the Master Trust not to invest directly into derivatives. Where the Fund does have a holding of derivatives, this may be a result of indirect investments gained through participating in a corporate action.

Managed funds may use derivatives such as futures, options and forward rate agreements. Where derivatives are used depends on the investment strategies of the individual managed investments. Copies of the product disclosure statement for the individual managed investments are available from the Wealthtrac website wealthtrac.com.au

Except where specially approved by the investment guidelines for that particular managed fund, derivatives will not be used to gear a managed fund’s assets, or for speculative purposes.

Investment reservesThe Master Trust does not maintain investment reserves.

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Asset allocationManaged investment categories

ModerateInvestment objectives

To provide a moderate return over the short to medium term through exposure mainly to income and some growth assets with a low to medium level of volatility.

Key features Suggested minimum time frame 3 to 5 years

Volatility Moderate

Growth potential Moderate

Asset allocation long term ranges

Cash 0% – 100%

Australian fixed interest 0% – 90%

International fixed interest 0% – 90%

Australian shares 0% – 45%

International shares 0% – 50%

Property 0% – 25%

Other 0% – 35%

BalancedInvestment objectives

To provide a moderate to high return over the medium to long term through exposure to growth and income assets while using diversification to reduce volatility.

Key features Suggested minimum time frame 4 years or more

Volatility Moderate to High

Growth potential Moderate to High


Cash 0% – 100%





Property 0% – 20%

Other 0% – 30%

GrowthInvestment objectives

To provide a high return over the long term through significant exposure to growth assets while using diversification to reduce volatility.


Volatility High

Growth potential High


Cash 0% – 100%





Property 0% – 40%

Other 0% – 50%

High growthInvestment objectives

To provide a high return over the long term through exposure mainly to growth assets.


Volatility High to Very High

Growth potential High to Very High


Cash 0% – 30%





Property 0% – 30%

Other 0% – 60%

CashInvestment objectives

To provide a secure return over any time frame with minimal risk of capital loss.

Key features Suggested minimum time frame Any

Volatility Low

Growth potential Low


Cash 0% – 100%


Australian fixed interestInvestment objectives

To provide a higher return than cash through exposure to Australian fixed interest.


Volatility Low to moderate

Growth potential Low to moderate


Cash 0% – 100%



International fixed interestInvestment objectives

To provide a higher return than cash through exposure to international fixed interest.


Volatility Moderate



Cash 0% – 50%



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Diversified fixed interestInvestment objectives

To provide a higher return than cash through exposure to Australian and international fixed interest.


Volatility Moderate



Cash 0% – 100%



Diversified credit/hybrid incomeInvestment objectives

To provide a higher return than cash through exposure to diversified and hybrid income.


Volatility Low to moderate



Cash 0% – 100%





Growth fixed incomeInvestment objectives

To provide exposure to a global portfolio of fixed income securities and debt obligation.





Cash 0% – 100%



PropertyInvestment objectives

To provide a moderate to high return over the medium to long term through exposure to Australian and international property.





Cash 0% – 20%


Property 80% – 100%

Australian sharesInvestment objectives

To provide a high return over the long term through exposure to Australian shares.


Volatility High



Cash 0% – 100%




Property 0% – 15%

Other 0% – 30%

Australian shares – smaller companiesInvestment objectives

To provide a high return over the long term through exposure to a mix of smaller or emerging Australian shares.


Volatility High



Cash 0% – 100%



International sharesInvestment objectives

To provide a high return over the long term through exposure to international shares.


Volatility High



Cash 0% – 100%




Other 0% – 100%

Alternatives/hedge fundsInvestment objectives

To provide exposure to specialist and alternative investments which can be outside traditional asset classes such as shares or fixed interest.

Key features Suggested minimum time frame Various time frames

Volatility High to Very High



Cash 0% – 100%





Property 0% – 100%

Other 0% – 100%

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Other information

Change of Administrator

New administration arrangementFollowing a review of our service providers, Oasis Fund Management Limited (Oasis) has engaged Macquarie Investment Management Limited (Macquarie) to provide administration services for the Oasis products which includes the Wealthtrac Superannuation Master Trust and the Wealthtrac Employer and Personal Superannuation Plan.

The change in administrator will not impact your investments and insurance cover (if applicable) and Oasis will continue to be the Trustee of your account. However, it is important to note that the Transition will see some changes to the way your account will operate.

The “Change of Administrator” guide attached to this annual report will give you information on the changes to your account that occur as part of the Transition.

SuperStream compliant employer contributions

SuperStreamSuperStream is a government reform aimed at improving the efficiency of the superannuation system. As part of the reforms, employers must make super contributions on behalf of their employees by submitting data and payments electronically in a consistent and simplified manner prescribed by the ATO.

Employers with 20 or more employees must comply with their SuperStream obligations by 30 June 2015. Employers with 19 or fewer employees (small employer) are required to meet the SuperStream requirements by 30 June 2016.

Superannuation surchargeThe Federal Government has abolished the superannuation surcharge payable on an individual’s surchargeable contributions and relevant termination payments made from 1 July 2005. The following reflects how the surcharge applies to contributions received prior to 1 July 2005.

Please consult your financial adviser for further information.

Superannuation membersWhere the Australian Taxation Office (ATO) has advised a superannuation surcharge is payable in respect of your benefit, the amount payable will be withdrawn from your account and paid to the ATO.

The ATO will send you a copy of the surcharge assessment so that you can check the figures they have used in calculating the surcharge are correct.

Pension membersShould a superannuation surcharge assessment be issued after the commencement of your account, the liability for payment of the superannuation surcharge rests with you and not your account.

Eligible Rollover FundUnder superannuation law, the Trustee has the authority to transfer a member’s benefit to an Eligible Rollover Fund (ERF).

The Trustee may do so if, amongst other circumstances:

• you are a lost member, or

• your account balance is less than $1,000.

The Master Trust’s ERF is the AMP Eligible Rollover Fund (AMP ERF). The address is:

The Administrator AMP Eligible Rollover Fund Locked Bag 5400 Parramatta NSW 1741

Toll free number 1300 300 288

If the Trustee is able to provide the AMP ERF with current contact details upon your transfer, the AMP ERF in turn will provide you with their current PDS, which outlines all the operational details of its fund. You can also obtain more information about the AMP ERF by contacting them directly. The AMP ERF will apply a different fee structure to the Master Trust. You should refer to the PDS for the AMP ERF for further details of their fee structure and how and when its fees apply. The AMP ERF does not provide insurance cover.

If your benefit is transferred to the AMP ERF:

• you will cease to be a member of the Master Trust and any insurance cover will cease

• any rights against the Trustee of the Master Trust in relation to your benefit will cease

• you will become a member of the AMP ERF and be subject to its governing rules.

Is your information up to date?It is important that you stay in touch with us and keep your account active and up to date, so you do not become ‘lost’, and so we can keep you informed about your investment and pay any benefits directly to you.

Please refer to your Annual Statement and let us know if anything has changed or has not been reported accurately e.g. address details – both postal and residential, beneficiaries, insurance benefits, Tax File Number, etc.

To update your details, please contact Client Services.

Lost Member Reporting and PaymentsIt is important that you stay in touch with us and keep your account active, so you do not become ‘lost’.

You may be classified as a ‘lost member’ if:

• we have made one or more attempts to send written communications to you at your last known address; and

• we believe on reasonable grounds that you can no longer be contacted at any address known to the fund; and

• you have not contacted us (by written communication or otherwise) within the last 12 months of your membership of the fund; and

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• we have not received a contribution or rollover from you, or on your behalf, in the last 12 months of your membership of the fund.

We are required to report ‘lost members’ to the Australian Taxation Office (ATO).

Additionally, we are required to transfer a lost member’s account to the ATO if:

• the account balance is less than $4,000 ($6,000 from 31 December 2016);

• we have insufficient records to pay an amount to the member.

If your account does become ‘lost’ and paid to the ATO you will lose any insurance associated with the account, and will need to contact the ATO about payment options.

Temporary residents (holding a temporary visa under the Migration Act 1958 other than a retirement visa Subclass 405 or 410)If you are a temporary resident, as defined above, you are only able to access preserved benefits on meeting one of the following conditions of release:

• eligibility for a Departing Australia Superannuation Payment (DASP)

• permanent incapacity*

• terminal medical condition†

• death.

If you are a temporary resident and you permanently depart Australia and no longer hold a visa, we are obliged to transfer your unclaimed super to the ATO after six months of your departure or cessation of your visa (as notified by the ATO). Irrespective of whether you later return to Australia or remain overseas, you can apply to the ATO for release of your super. Transferred super benefits can be claimed via the ATO’s website at ato.gov.au

On transfer of your super benefit to the ATO, you will cease to be a member of the Fund. In this case, we rely on ASIC relief not to provide you with an Exit Statement or any other exit disclosure. If you become an Australian or New Zealand citizen or permanent resident, the obligation to transfer your super benefit to the ATO does not apply and you can continue to be a member of the Fund.

Note: This section does not apply to temporary residents, who satisfied a condition of release before 1 April 2009. For information on the rules for accessing super applying to these members, please speak to your financial adviser.* ‘Permanent incapacity’ means the Trustee must be reasonably satisfied that

you are unlikely, because of ill health (whether physical or mental) to engage in gainful employment for which you are reasonably qualified by education, training or experience.

† ‘Terminal medical condition’ means that the following circumstances exist:

a. two registered medical practitioners have certified, jointly or separately, that the person suffers from an illness, or has incurred an injury, that is likely to result in the death of the person within a certification period that ends not more than 24 months after the date of the certification

b. at least one of the registered medical practitioners is a specialist practicing in an area related to the illness or injury suffered by the person

c. for each of the certificates, the certification period has not ended.

Documents available upon requestA copy of the full audited accounts, the auditor’s report and the Trust Deed are available free of charge on request from Client Services on 1300 552 477 or by visiting the Trustee website at oasisasset.com.au/RSE

Policy committeesThe purpose of a policy committee is to provide employees with a forum to discuss or question topics such as the performance, operation, and insurance applicable to their superannuation funds.

Superannuation law requires the Trustee to take reasonable steps to ensure a policy committee be established for:

• employers with more than 49 employees, and

• employers with 5 to 49 employees where a written request has been made by at least five employees.

As at 30 June 2016, there were no policy committees established for any employer groups.

Complaints resolutionIf you have any enquiries or complaints, they will be handled in accordance with the Trustee’s enquiries and complaints procedures and superannuation law. This procedure requires a complaint (which can be written, faxed, emailed or relayed via the phone) be made to Wealthtrac Client Services through the channels shown on page 2 of this annual report.

Further help optionsIf you are not satisfied with the outcome of your complaint, you can contact the following service which is a free dispute resolution service external to the Trustee.

Please note that before they can investigate your complaint, they generally require you to have first provided us with the opportunity to address the complaint.

Superannuation Complaints Tribunal (SCT)For superannuation related complaints. The SCT is a statutory body that deals with complaints about the decisions and conduct of super providers, including trustees of super funds, relating to members, but not in relation to decisions and conduct relating to the management of a fund as a whole.

Write to:

Superannuation Complaints Tribunal Locked Mail Bag 3060 Melbourne VIC 3001

Phone: 1300 884 114 Fax: 03 8635 5588

Email: [email protected] Website: www.sct.gov.au

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FSC Standard No. 20: Superannuation Governance PolicyThe Trustee is a member of the Financial Services Council (FSC) and adopts the FSC Standards. FSC have developed Standard No. 20: Superannuation Governance Policy to promote strong governance arrangements by trustees of superannuation entities.

Key requirements under FSC Standard No. 20 and how the Trustee achieves compliance:

Requirement How the Trustee achieves compliance

The Trustee should ensure the necessary governance arrangements are in place to satisfy an independence criterion. This has the following main elements:

i. a requirement that the Chair of the entity’s Board be independent;

ii. a requirement that a majority of directors of that Board be independent; and

iii. a requirement that a quorum for proceedings of the Board (when acting as the Board) is satisfied only if independent directors constitute a majority of directors present and entitled to vote at those proceedings.

The Board consists of a majority of independent, non-executive directors and the Chair of the Board is an independent, non-executive director.

The quorum requirements in the Board’s Charter align with the requirements of the Standard.

The directors of the Trustee should not accept or hold multiple and competing positions on Trustee Boards.

Directors of the Trustee do not hold multiple or competing positions on Trustee Boards.

The Trustee is required to develop and implement in relation to each RSE it operates, an Environmental, Social and Governance (ESG) Risk Management Policy. This requirement only applies to a MySuper product.

The Trustee does not offer a MySuper product under the Master Trust.

The Trustee should develop and implement in relation to each Registrable Superannuation Entity (RSE) it operates, a policy concerning diversity of Board membership and disclose to Fund members the policy or a summary of that policy requirement for the Board to establish measurable objectives for achieving gender diversity and for the Board to assess annually both the objectives and progress in achieving them and to disclose to Fund members that information.

The Trustee has developed a Board Diversity Policy – which is available at oasisasset.com.au/RSE

The Trustee should develop and publicly disclose to Fund members in relation to each RSE it operates, its voting policy and to publish its Australian Proxy Voting record in accordance with FSC Standard 13 Voting Policy, Voting Record and Disclosure.

The Trustee has developed a Proxy Voting Policy – which is available at oasisasset.com.au/RSE together with details of the fund’s voting records.

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Abridged financial informationThe following financial information is taken from the 30 June 2016 audited financial statements (except where indicated otherwise) of the Oasis Superannuation Master Trust as a whole.

If you would like a copy of the audited financial statements and auditor’s report, please contact Client Services.

Abridged statement of financial position as at 30 June 20162016

$’0002015 $’000

Assets

Cash and cash equivalents 243,321 237,772

Investments

Term deposits 478,255 503,967

Equities 343,634 320,131

Derivatives 9 –

Interest bearing securities 30,005 31,822

Units in unlisted unit trusts 3,983,878 4,077,542

Total investments 4,835,781 4,933,462

Receivables

Interest receivable 1,743 3,376

Distributions receivable 149,487 183,091

Unsettled investment sales 1,192 2,592

Other receivables 26 49

Total receivables 152,448 189,108

Tax assets

Current tax asset 2,080 4,119

Deferred tax asset 51,466 46,028

Total tax assets 53,546 50,147

Total assets 5,285,096 5,410,489

Liabilities

Unsettled investment purchases 462 1,417

Sundry creditors 2,791 3,819

Total liabilities (excluding net assets available to pay benefits) 3,253 5,236

Net assets available to pay benefits 5,281,843 5,405,253

Represented by:

Liability for accrued benefits

Allocated to members’ accounts 5,195,451 5,329,029

Unallocated amounts 86,392 76,224

Total liability for accrued benefits 5,281,843 5,405,253

Reconciliation of unallocated amounts*

Tax assets 53,546 50,147

Tax reserve 13,329 12,051

Operating financial risk requirement reserve 17,966 10,698

Other timing differences 1,551 3,328

Total unallocated 86,392 76,224

* This reconciliation of unallocated amounts is not part of the audited financial statements.

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Abridged operating statement for the year ended 30 June 2016

2016 $’000

2015 $’000

Investment revenue

Interest income 20,009 24,274

Dividend income 11,666 12,045

Distributions 226,150 335,401

Movements in net market value of investments (156,107) 59,266

Other revenue 1,683 2,567

Total investment revenue 103,401 433,553

Contributions revenue

Employers 103,759 111,106

Members 144,410 186,160

Other contributions 1,319 2,444

Transfers from other funds 288,100 440,864

Total contributions revenue 537,588 740,574

Insurance proceeds 13,013 3,739

Total revenue 654,002 1,177,866

Expenses

General administration expenses 93,502 98,979

Insurance expenses 16,366 15,968

Total expenses 109,868 114,947

Benefits accrued as a result of operations before income tax 544,134 1,062,919

Income tax benefit/(expense) attributable to benefits accrued as a result of operations 7,637 15,182

Benefits accrued as a result of operations 551,771 1,078,101

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Financial dataNet assets of the Wealthtrac superannuation products as a proportion of assets held by the Oasis Superannuation Master Trust at 30 June 2016.

2016 2015

Wealthtrac superannuation products 16.13% 15.84%

ReservesThe Trust Deed of the Master Trust allows it to maintain reserves. Currently, the Master Trust maintains a tax reserve that includes amounts that are both permanent and timing differences which have not been allocated to members.

Monies held by the Master Trust as a reserve are invested by the Trustee in an interest bearing bank account.

The tax reserve balance is as follows:

2016 $’000

2015 $’000

2014 $’000

Amount at the start of the year 12,051 7,506 12,470

Net tax paid and tax attributable to members, timing differences and interest earned

1,278 4,545 (4,964)

Amount at the end of the year 13,329 12,051 7,506

Under APRA Prudential Standard SPS 114: Operational Risk Financial Requirement an Operational Risk Financial Requirement (ORFR) target amount is required to be held.

The financial resources held to meet the ORFR target amount can be held either as:

a. an operational risk reserve within the fund;

b. operational risk trustee capital held by the RSE licensee; or

c . a combination of both.

In accordance with APRA Prudential Requirements the Trustee had three years from 1 July 2013 to accumulate the financial resources to meet the Operational Risk Financial Requirement target amount. This requirement was achieved during the current financial year. The Operational Risk Financial Requirement reserve held by the Master Trust itself was $17,965,929 at 30th June 2016.

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Client ServicesPhone: 1300 552 477 Fax: (02) 4224 1901 Email: [email protected]

Correspondence addressWealthtrac Locked Bag 1000 Wollongong DC NSW 2500

Client Guide

November 2016

Change of Administrator

About this guideOasis Fund Management Limited (Oasis) has engaged Macquarie Investment Management Limited (Macquarie) to provide

administration services for the Oasis products. We are planning to transition the administration of your account to Macquarie

from 12 December 2016.

This guide contains important information relating to the change of administrator and impacts to your account.

Please read this guide in conjunction with the accompanying letter and ‘Important changes to your account’ schedule.

New administration arrangements 3

Upcoming communications 3

Fees and charges 4

Cash Account management 5

Making contributions 7

Investing 8

Auto-rebalance feature 9

Share trading 9

Group Insurance (Super clients) 9

Non-binding nominations(Super and Pension clients) 10

Tax collection (Super clients) 10

Withdrawals 10

Statements 10

Contents

3

New administration arrangements

Following a review of our service providers, Oasis Fund Management Limited (Oasis) has engaged Macquarie Investment

Management Limited (Macquarie) to provide administration services for the Oasis products (the Transition).

Following the Transition, Macquarie will provide the operational support, call centres and online services for your account.

Macquarie is an established provider of high-quality superannuation and investment solutions, and the Transition aligns with

our aim to provide you leading super, pension and investment solutions.

In addition to administration services, the Macquarie Group will provide custodial services for the Oasis products through

Bond Street Custodians Limited (Bond Street). Bond Street will replace the current custodian, HSBC Bank Australia Limited.

The online share trading facility available to your adviser will be provided by Macquarie Equities Limited (Macquarie Equities)

following the Transition. Macquarie Equities will replace Australian Investment Exchange Limited (AUSIEX).

Oasis will continue to be the Operator and Trustee for the Oasis products.

Oasis service providers

Activity Before Transition From Transition

Operator/Trustee Oasis Fund Management Limited No change

Administrator Oasis Asset Management Limited Macquarie Investment Management Limited

Custodian HSBC Bank Australia Limited Bond Street Custodians Limited

Online broker Australian Investment Exchange Limited Macquarie Equities Limited

Transition date

We are currently planning to transition the administration of your account to the new administrator over the weekend of

10-11 December 2016.

Although we are working towards this timeframe, a seamless experience remains our highest priority. If at any time, the

progress and quality of the Transition does not meet our standards, we will delay the change in administrator until early 2017.

We will advise you if a delay to the Transition date occurs.

Upcoming communications

New account details

At the Transition date, you will receive a welcome communication confi rming your account number and containing a web link

to access your account information via a new online portal.

In the new online portal you will be able to view reports and information on your account, including your:

• investments and value

• asset allocation

• account details.

If we do not have your current identifi cation information, we will not be able to provide you with online services. If you have

received a letter from us requesting identifi cation, please provide it as soon as possible to ensure there is no interruption to

your services. Please contact your fi nancial adviser or call Client Services for further information following the Transition.

You will also receive additional information on how to make contributions to your account including new BPAY® and bank

account details to make direct credit payments into your account.

Transition statement

After the Transition, you will be mailed a statement confi rming your investments and insurance cover (if applicable) transferred

to the new administrator and summarising your transactions since your last statement.

® Registered to BPAY PTY LTD ABN 69 079 137 518

4

Fees and charges

From the Transition, the calculation and collection of some fees and charges will change. The changes to fees and charges are

provided in the following table.

Fee Before Transition From Transition

Administration

and Adviser

Service Fee

(collection method)

Currently, Administration and Adviser Service

Fees are deducted half-monthly from your

Cash Account. The calculation is based on

the account balance on the day the fee is

deducted.

From the Transition, the Administration and Adviser

Service Fees will be deducted on a monthly basis.

The fees will be calculated based on your daily

account balance and pro-rated based on the number

of days in the month you have been invested.

Note: while there will be no change to the

Administration or Adviser Service Fee rates, there

could be instances where these fees could be higher

or lower, depending on your daily balance.

Clients in Oasis products moving to another Oasis

product may experience a change in Administration

Fees. If your Administration Fees are changing, the

impact to your account is explained in the ‘Important

changes to your account’ schedule accompanying

this guide.

Insurance

Administration

Fees

Currently, the Insurance Administration Fee is

deducted monthly in advance.

From the Transition, the Insurance Administration

Fee will be deducted monthly in arrears. The amount

deducted remains the same.

Due to the change in collection method, you will

not be charged the Insurance Administration Fee in

the fi rst month following the Transition.

Deposit Fees

(Investment

Service only)

Currently, a Deposit Fee may apply for each

deposit into Investment Service accounts.

After the Transition, Deposit Fees will no longer apply

for Investment Service accounts.

In Specie

Transfer Fees

(Investment

Service only)

Currently, if you transfer in managed

investments from an external platform you

are charged $61.50 per asset (net of GST).

From the Transition, this fee will no longer apply.

Currently, if you transfer out managed

investments to an external platform you

are charged $61.50 per asset (net of GST).

From the Transition, this fee will increase to $65 per

asset (net of GST).

Expense Recoveries

(share trading and

custody services)

Currently, you are charged Expense

Recoveries to cover the costs of providing

online share trading and custody services.

From the Transition, you will not be charged Expense

Recoveries for share trading and custody services.

Brokerage Currently, you are charged Brokerage for

share trading at a rate of 0.10% of the

trade value, with a minimum charge of

$29 (net of GST).

From the Transition, this will increase to a rate of 0.12%

of the trade value with a minimum charge of $30 (net

of GST) and a maximum charge of $100 (net of GST).

Fail Trade Fee Currently, you are charged 0.10% per day,

with a minimum charge of $100 per day.

From the Transition, this will change to $36 per day,

plus any associated fee charged by the relevant

exchange.

Dishonour Fee Currently, you are charged $51.25 per

attempt to make a contribution or rollover.

From the Transition, this fee will decrease to $40 per

dishonoured payment for direct debit and $13.50 per

dishonoured cheque.

Special Request

Fee

Currently, you are charged an amount that

is reasonable for the request made.

From the Transition, this fee will be set at $100

per hour.

Distribution

Redirection Fee

Currently, you are not charged a Distribution

Redirection Fee.

From the Transition, if you require distributions/

dividends to be redirected to you following the

closure of your account, a fee of $50 per request will

be charged.

By your continued use of the Oasis Platform, as part

of the Oasis Investment Service, you are deemed to

have consented to the deduction of the Distribution

Redirection Fee from your account.

5

From the Transition, you and your adviser can agree to index Adviser Service Fees or charge diff erent Adviser Service Fees

by the type of investment. Your adviser will need to discuss any changes with you and obtain your agreement before

implementing any changes. The changes to Adviser Service Fees are described in the following table.

Feature Description

Option to index

Adviser Service Fees

From the Transition, you and your adviser will have the option to index the Adviser

Service Fee by the Consumer Price Index or by a nominated percentage.

Any changes will take eff ect 12 months after the instruction is received.

Charging Adviser Service Fee

by type of investments

From the Transition, you and your adviser will be able to specify the percentage of the

ongoing Adviser Service Fee for all investments, or specify diff ering percentages to apply to

managed investments (includes term deposits and cash with the ability to exclude cash for

IDPS Investment Service only) or equities.

Cash Account management

From Transition, the Cash Account will be known as the

Wrap Cash Account for Investment Service clients and will

continue to be known the Cash Account for Super and

Pension clients.

Changes will apply to your Cash Account and how it is

managed. Following is a summary of the changes.

Cash Account investments

Currently, money held in the Cash Account is invested

with major Australian banks and in short-term money

market securities. Interest is paid monthly and a fee of

up to 2.00% p.a. applies.

For Super and Pension clients

From the Transition, the Cash Account will be invested in

a managed investment scheme with $1 units. Macquarie

Investment Management Limited (Macquarie) is the

responsible entity of the Cash Account. Interest will

accrue daily and be paid quarterly.

The assets of the managed investment scheme are

currently invested on deposit with Macquarie Bank Limited

(MBL). This may change depending on factors such as

competitiveness of returns, terms of the deposit, risks,

default of MBL or solvency of MBL.

The Cash Account is governed by a Constitution that sets

out the rights, duties and obligations of the responsible

entity (Macquarie) and unitholders in the Cash Account.

You can request a copy of the Constitution by calling

Client Services following the Transition.

The Management Fee is 0.55% p.a. of the net asset value

of the Cash Account, inclusive of the net impact of GST.

It is also below the maximum of 5% that MIML may charge

under the Constitution.

In addition, Macquarie has the right to recover all expenses

from the Cash Account, and is entitled to be indemnifi ed

from the Cash Account for liabilities they properly incur in

connection with the Cash Account.

Expense recoveries include usual types of expenses, such

as custody and audit fees, and less usual types of expenses,

such as costs associated with any litigation (e.g. fees to

professional advisers engaged by Macquarie) and expenses

in relation to unitholder meetings. The Constitution does

not place any limit on the amount of the expenses that

Macquarie can recover from the Cash Account, provided

the expenses are properly incurred.

For Investment Service clients

In order to make the Transition as seamless as possible,

a Cash Management Account (CMA) (which is your Wrap

Cash Account) will be established by Oasis on your behalf.

The Wrap Cash Account is issued by MBL.

By your continued use of the Oasis Platform, as part of

the Oasis Investment Service, you authorise and direct

Oasis to acquire the Wrap Cash Account.

The Wrap Cash Account will provide you with full bank

account functionality, including the ability to transfer

funds, make BPAY® payments and make payments to

overseas bank accounts. You will also have access to

manage your cash via Online Banking and Mobile Banking.

Interest will be paid monthly.


6

Fees and charges apply to services off ered through the

Wrap Cash Account. These are detailed in the following

table.

Service Fee

Audit letter fee $60.00

Bank cheques $10.00

Cancelled bank cheques $6.50

Dishonoured payments $40.00

Dishonoured cheques $13.50

Special cheque clearance $18.00

Simple trace $30.00

Complicated trace $60.00

Foreign cheque deposit $60.00

Australian dollar draft $50.00

Telegraphic transfer $30.00

Overseas draft $35.00

Deposit adjustment $10.00

Minimum Cash Account balance

Currently, the minimum balance requirement for your

Cash Account is set to the greater of $300 or a percentage

determined by your account balance, subject to a

maximum of $10,000.

After the Transition, the minimum Cash Account/Wrap

Cash Account balance will be $2,500, irrespective of your

account balance.

If you have currently selected to hold a minimum of

more than $2,500, this nominated minimum balance

will continue to apply to your account.

If you hold less than the $2,500 minimum balance, you will

have your current cash holding carried across. However,

for Super and Pension clients, once this amount falls below

$1,000, the Cash Account will be topped up to $2,500 in

accordance with the new monthly top up process.

The new monthly top up process will only be activated

if your Cash Account balance is less than $1,000. This

approach allows for your money to remain invested

until funds are needed to cover fees, insurance premiums

and taxes.

Cash Account top up instructions (for Super and

Pension clients)

From the Transition, if your Cash Account balance falls

below $1,000, it will be topped up to $2,500 (or your

nominated Cash Account balance) in accordance with

a new monthly top up process. If you haven’t previously

provided Cash Account top up instructions, investments

will be sold down starting with the highest balance, in the

following order:

• Daily priced managed funds

• Non-daily priced managed funds

• Listed securities

• Term deposits.

Should you wish to establish alternative cash top up

instructions, please contact your fi nancial adviser.

Externally-linked Cash Management Accounts (Investment Service clients)

Investment Service clients can currently integrate

approved externally-held Cash Management Accounts

(CMAs) with their Investment Service account.

The linked CMA balance is reported on your regular

statements and you can also transfer monies between

your CMA and Investment Service account.

From the Transition, links to external CMA accounts will

not be available. All Investment Service clients will have

their Wrap Cash Account only.

7

Making contributions

Direct debits from bank accounts

For Super clients

Currently, if you have elected to make direct debit

payments into your account, these payments are deducted

on the 25th of the month. You can elect for direct debit

payments to occur monthly, quarterly, half-yearly or

annually.

From the Transition, in December 2016, direct debit

payments for Super clients will be deducted on the

business day closest to the 25th of the month. From

January 2017, your payments will be deducted on the

8th of the month. Your nominated direct debit frequency

will remain unchanged.

Payments for separate superannuation contribution types

(e.g. Superannuation Guarantee Contribution and Salary

Sacrifi ce) will be deducted as two separate transactions

and will appear as separate transactions on your bank

statement.

From the Transition, ‘MIML’ will appear in the direct debit

description on your bank statements and Macquarie Bank

Limited (MBL) User ID 362941 will debit funds from your

nominated bank account.


Currently, if you have elected to make direct debit

payments into your account, these payments are deducted

on the 16th of the month. Direct debit payments will

continue to be deducted on the 16th of the month for

Investment Service clients. Your nominated direct debit

frequency will remain unchanged.

From the Transition, you will be permitted to change the

deduction date. ‘MIML’ will also appear in the direct debit

description on your bank statements and Macquarie Bank

Limited (MBL) User ID 362941 will debit funds from your

nominated bank account.

Direct credit payments into your account

From the Transition, you will need to make Direct Credit

contributions to a new bank account. Details of this

account will form part of your welcome communication

sent on Transition. If you are currently making regular

payments you will need to make sure this change is

made with your bank or fi nancial institution.

BPAY® changes

BPAY® will continue to be off ered for making contributions.

However, new biller codes will apply.

Five BPAY® contribution types will be supported for

superannuation contributions:

• Personal

• Spouse

• Employer (Superannuation Guarantee Contributions)

• Employer (Salary Sacrifi ce), and

• Employer (Other).

No minimum contribution amount is required.

You will be informed of new BPAY® biller codes and

account reference details in your welcome communication

on Transition. If you are currently making contributions

through BPAY® you will need to update the biller code

and reference number with your bank or fi nancial

institution.

Easy Payment

Easy Payment will not be off ered by the new administrator.

Please ensure you use BPAY® or Direct Credit from

Transition to make contributions to your account.


8

Investing

Additional Investment Instructions

Currently, when your Cash Account balance exceeds the minimum or nominated balance, money is invested according to

your nominated Additional Investment Instructions.

Your Additional Investment Instructions will be transferred to the new administrator, however, some diff erences will apply.

The changes to Additional Investment Instructions applying from the Transition are provided in the following table.

If your current Additional Investment Instructions are impacted by these changes, the changes to your account from

Transition are explained in the ‘Important changes to your account’ schedule accompanying this guide.

Feature Before Transition After Transition

Allocation to the Cash Account Additional Investment Instructions

can include an allocation to the

Cash Account.

Additional Investment Instructions

cannot include an allocation to the

Cash Account/Wrap Cash Account.

You have the option of choosing a Cash

Account/Wrap Cash Account target

instead ($ or % amount).

Please contact your fi nancial adviser

about the automatic cash management

options available following the Transition.

Allocation to non-daily

priced investments

Additional Investment Instructions can

include an allocation to non-daily priced

investments.

Additional Investment Instruction cannot

include an allocation to non-daily priced

investments.

Term Deposit minimums

Currently, a minimum investment limit of $5,000 applies for

each term deposit.

From the Transition, this minimum investment limit will

increase to $10,000 for each new term deposit. You will

also have the choice of investing in Macquarie Bank Term

Deposits. You should consider the relevant disclosure

documents.

If you currently hold a term deposit for less than $10,000, it

will continue until the maturity date.

Purchasing managed investments

Currently, additional investments are initially placed

into your Cash Account. If the balance exceeds your

minimum or nominated Cash Account balance, additional

investments in managed investments are purchased as per

your nominated Additional Investment Instructions on a

daily basis.

From the Transition, investment purchases will occur on

the 20th of each month only. You can purchase additional

investments out-of-cycle by placing one-off investment

instructions through your fi nancial adviser.

Netting to cease

Currently when you buy and sell investments, Oasis may

off set the instructions against requests received from other

clients. Please be advised that the netting of investment

trades will no longer occur.

Dollar Cost Averaging

Currently, you have access to Dollar Cost Averaging

(DCA) functionality, allowing you to automatically invest

at regular intervals (weekly, monthly or quarterly). The

minimum amount for each switch for DCA is $100. DCA

instructions are processed either on the second Monday

after receipt of your DCA instruction (for weekly) or the

fi rst Monday of the second month after receipt of your

DCA instruction (for monthly or quarterly).

From the Transition, the amount for each DCA switch will be

$250 minimum total investment with a $50 minimum per

asset. Weekly investments will no longer be available and

will be replaced by monthly and quarterly frequencies. DCA

instructions will be processed on the 16th of each month.

If you currently have DCA instructions on your account,

these instructions will continue following the Transition.

Income distributions to external bank accounts (Investment Service clients)

Currently, you have the option for distributions from

managed investments to be paid to an external bank

account.

From the Transition, managed investment distributions

will no longer be paid to external bank accounts.

Distributions will instead be paid to your linked Wrap

Cash Account (a fully functional CMA).

You will receive online access to transfer funds or set

up regular payment instructions from your Wrap Cash

Account to an external bank account.

9

Auto-rebalance feature

Currently, you have the option of adding an auto-rebalance feature to your account. You can select the rebalance to occur

either quarterly, half-yearly or annually.

The auto-rebalance feature will continue to be available following the Transition, however there will be changes to how it

operates. The changes to the auto-rebalance feature are provided in the following table.

If you have current auto-rebalance instructions, the changes to your account from Transition are explained in the ‘Important

changes to your account’ schedule accompanying this guide.

Feature Before Transition After Transition

Treatment of excess cash

(e.g. as a result of making

additional investments,

contributions, rollovers

or receiving income

distributions)

Excess cash in the Cash Account is invested

on a daily basis according to your nominated

Additional Investment Instructions.

Excess cash will remain in the Cash Account

until the auto-rebalance event (either

quarterly, half-yearly or annually).

Interest will accrue on money in the Cash

Account until it is invested.

Excluded investments Daily-priced managed fund investments

can be excluded from the auto-rebalance

instructions.

Daily-priced managed fund investments

cannot be excluded from the auto-rebalance.

Non-daily priced

investments

Non-daily priced investments can be

included in the auto-rebalance instructions.

Non-daily priced investments cannot be

included in the auto-rebalance instructions.

Cash allocation for Super

and Pension clients

Auto-rebalance instructions do not need to

include an allocation to the Cash Account.

Auto-rebalance instructions must include

an allocation to the Cash Account to cover

the minimum Cash Account balance.

requirement.

Share trading

From the Transition, AUSIEX will be replaced by Macquarie

Equities as the online share trading broker. Trades from the

following offl ine panel brokers will also be accepted:

• Shaw & Company

• Morgan (formerly RBS Morgan)

• Morgan Stanley

• Bell Potter

• Baillieu Holst

• Lonsec

• ANZ Share Investing.

You and your adviser will need to establish an account with

these providers and notify them of the intent to settle with

the new administrator.

If you currently trade shares online you will no longer

have this facility from Transition. You will need to contact

your fi nancial adviser to place trades. If you do not have

a fi nancial adviser you will need to provide a signed

instruction to place trades. You can phone Client Services

following the Transition to request the necessary share

trading forms.

Group Insurance(Super clients)

Currently, you have the option of adding Group Insurance

cover to your account.

From the Transition, if you currently have Group Insurance

this will continue and you will be able to make changes to

your cover in the future. If you do not already have Group

Insurance cover you will be unable to add this type of

cover to your account following the Transition.

You have the option to apply for Group Insurance cover

before the Transition. Please contact Client Services to

obtain the relevant Group Insurance application forms.

Applications for cover are required to be completed and

returned by 24 November 2016.

10

Non-binding nominations (Super and Pension clients)

Currently, you can nominate how your benefi t will be paid

on your death in the following ways:

• Super clients can make one of two nominations:

- non-lapsing binding nomination, or

- non-binding nomination.

• Pension clients can:

- nominate a spouse as a reversionary pensioner

- make a non-lapsing binding nomination, or

- make a non-binding nomination.

From the Transition, you will no longer be able to make

new non-binding nominations. Existing non-binding

nomination arrangements will continue.

Tax collection(Super clients)

Currently all taxes, including contributions tax and tax

on investment income, are collected at the end of each

quarter.

From the Transition, taxes will be deducted at the time

the contribution is made or when investment income is

credited.

Outstanding tax amounts will be deducted from your

account prior to the Transition.

Withdrawals

Minimums to apply

Currently, you can place a withdrawal request from your

account for any amount. There is no minimum withdrawal

amount.

From the Transition, a minimum withdrawal amount of

$500 will apply for written withdrawal requests. Accounts

that have a total value of less than $2,500, and withdrawal

requests that are made online, are not subject to the

minimum withdrawal amount.

Changes to withdrawal processes

Please note the following changes to withdrawal

processing that will apply from the Transition:

• Requests to close accounts will not be actioned in the

fi rst three days of each month due to administrative fee

runs

• If you wish to have your withdrawal proceeds paid in

the form of a bank cheque you will be charged the

relevant fee

• If we do not have your current identifi cation information

you will be asked to provide this before a withdrawal

request will be processed.

Statements

For Super and Pension clients

Annual and half-yearly statements for Super and Pension

clients will be made available online. You will receive an

email when statements are ready to be viewed.

You can opt-out of receiving electronic communications

by contacting Client Services following the Transition.

Statements will be mailed where no email address is

recorded for your account.


Investment Service annual statements and quarterly

reports will be available online. You will also receive a new

half-yearly statement for your Wrap Cash Account. You will

receive an email when your Investment Service statements

are ready to be viewed.

You can opt-out of receiving electronic communications

by contacting Client Services following the Transition.

Statements will be mailed where no email address is

recorded for your account.

We’re ready to help

whenever you need us.

Need further information?

This information is issued by Oasis Fund Management Limited (ABN 38 106 045 050, RSE L0001755, AFSL 274 331) (Oasis). This information is current as at November 2016 and may be subject to change. This information has been prepared without taking into account a potential investor’s objectives, fi nancial situation and needs. Oasis Superannuation Master Trust and the Investment Service are issued by OFM. Group insurance and OneCare External Master Trust (OneCare) are issued by OnePath Life Limited ABN 33 009 657 176 (OPL). Product information, including fees, charges, terms and conditions are set out in the relevant disclosure documents. For a copy of the disclosure documents, please visit the relevant badges website or contact the Services team. Oasis and OPL are wholly owned subsidiaries of Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522 but are not authorised deposit taking institutions (ADIs) under the Banking Act 1959 (Cth). Except as described in the relevant disclosure documents, the products are not a deposit or other liability of ANZ or its related companies and none of them stands behind or guarantees the issuer or the capital or performance of the products. An investment in the products is subject to investment risk, including possible repayment delays and loss of income and principal invested.

• your fi nancial adviser

• Client Services (details available on the

accompanying letter).

If you’d like more information, please contact:

We’re ready to help

whenever you need us.

Client Guide

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