Guide to your Panorama Annual Investor Statements

Transcription

1 Guide to your Panorama Annual Investor Statements This guide to your Panorama Annual Investor Statements shows examples of each report and explains the terminology used and the calculation methods. Important features of the reports are highlighted with breakout boxes.

2 Annual Earnings and Expense Report Annual Investor Statements include an Annual Earnings and Expense Report. This detailed report shows the movements in your portfolio during the financial year. Movements include the income from your investments (such as interest, dividends and distributions) and liabilities and expenses (such as fees, charges and taxes). 3 Earnings and expenses 278, Income Amount BT Cash income Total market movement This amount is the sum of both realised and unrealised capital movements during the financial year. The total loss does not reflect the capital gain or loss for tax purposes and should not be relied upon for making decisions about your tax position. Term deposit interest 2, Listed security income 3, Managed fund income 5, Managed portfolio income 0.00 Other income 0.00 Total income 12, Market movement Amount Realised gains/losses 2, Unrealised gains/losses 12, Total market movement 10, Expenses Table continued over page Fee type Amount Administration fees 1, Investment management fees 1, Portfolio management fees 1, Advice fees Establishment fee Ongoing advice fee One-off advice fee Licensee advice fee SMSF fees Taxes SMSF Administration fee SMSF Audit fee SMSF Actuarial fee SMSF Establishment fee Please note: There may be instances where transactions are processed in the current period but have an effective date of a previous reporting period. If such a transaction has been processed on your account, the value of the transaction will be included in this report within the relevant transaction category. However, it will not appear on the Cash Statement or Transaction History for the current period. Both the Cash Statement and Transaction History show the effective date of the transaction, not the date it was processed. You can review previous date ranges (where details of such transactions will be shown) for both these reports either on the Panorama Investor site from your adviser. Non-resident withholding tax TFN withholding tax Total expenses 5, Net earnings 17, Income is reported on an accrual basis and may vary from the amount paid into the Cash Account. Changes in market value exclude any gains or losses arising from assets held outside the service. This report does not provide the gain or loss on disposal for tax purposes and should not be relied upon in making decisions about your tax position. You should seek professional advice regarding your tax position. Establishment Fee, Ongoing Advice Fee, Licensee Advice Fee and One-off advice fee are collectively referred to as 'Fees payable for advice and services provided to you in the Panorama Investor Guide'. The information contained in this statement is given in good faith and has been derived from sources believed to be accurate at the report request date. However, it is general information only and should not be considered a comprehensive statement on any matter nor relied upon as such. No company in the Westpac Group nor any of their related entities, employees or directors gives any warranty of reliability or accuracy or accepts any responsibility arising in any other way including by reason of negligence for errors or omissions. This disclaimer is subject to any requirement of the law. 3 At a glance Portfolio valuation Earnings and expenses Transaction history Managed Tailored Annual investment statement created 20 Apr 2014 Page 5 of 17 4

3 Portfolio Valuation This report shows the quantity and market value of every investment you hold in Panorama and provides a total valuation for your whole portfolio, including BT Cash holdings. At a glance 2 BT Cash Balance 278, Total portfolio BT Cash 246, Outstanding Cash Movements Total BT Cash balance Term deposits Westpac Term Deposit at 3.88 pa, 6 months interest payment at maturity Matures on 13 Jul 2014 Bank of Melbourne Term Deposit 3.88 pa, 6 months interest payment at maturity Matures on 21 Dec 2014 Principal Total portfolio 10, , Total term deposits balance 30, Listed securities Portfolio valuation Investments Quantity Last price Estimated gain/loss Market value Total portfolio WBC Westpac Banking Corporation TLS Telstra Corporation Total listed securities balance 1, Managed funds Investments Quantity Last price Estimated gain/loss FEPE Fairview Equity Partners Emerging Companies Fund 2 Portfolio valuation Earnings and expenses Annual investment statement created 20 Apr 2014 Transaction history Market Table value continued Total over portfolio page REG Regal Long Short Australian Equity Fund Total managed funds balance 1, Managed Tailored Page 3 of 17 Last price () This column shows the last available unit price for each investment. Estimated gain/loss An indicative calculation of a capital gain or capital loss using the latest market price which may result when selling assets. These estimated gains (losses) should only be used as a guide. Always refer to your statements and trade confirmations for the most complete and accurate record of your trades. Market Value () This column shows the total of unit price multiplied by the quantity. Total portfolio () This is percentage the asset holds as a portion of your overall portfolio. Market price effective date ASX listed securities are valued at their last sales price quoted on the relevant exchange at the close of business. If no trades have occurred for a security during the day, the last traded price will be used. Suspended ASX listed securities are valued at the last traded price prior to the suspension. De-listed securities are priced at zero on receipt of the loss declaration from the Administrator/Liquidator. Managed funds are valued using the latest available redemption price. For suspended funds we will use the latest available price provided by the fund manager, unless we have determined that the fund is no longer pricing. In that case may determine that a different unit price should be applied to ensure a fair price is used. 5

4 Transaction History Cash Statement This report details every cash movement into and out of the BT Cash hub for the financial year. Trade Date When an order to purchase, sell or otherwise acquire a security is placed via Panorama. 4 Transaction history - Cash Trade date Settlement date Transaction type Description Debit 278, Credit Balance Settlement date The date on which the transfer of cash or assets is completed. It is not necessarily the same as value date (when the settlement amount is calculated). 01 Jul 2013 Opening balance 250, Sep 2013 Non-resident withholding tax <optional description line 2> 249, Sep 2013 Expense <optional description line 3> Income payment for cash 15 Nov Nov 2013 Income , account BlackRock Managed Portfolio 15 Jan Jan 2014 Income 1, , regular withdrawal DWS Global Managed Portfolio 28 Feb Feb 2014 Sale 15, , full redemption Opened Westpac Term deposit at 4.05 pa, 2 year term, 28 Feb Feb 2014 Purchase 20, , <Interest payment frequency> 12 Apr Apr 2014 Expense Dishonour fee , Subtotal 20, , Transaction type Displays the type of transaction that occurred. Closing balance as at 30 Jun , This statement may not include recent transactions that have not been processed. The information contained in this statement is given in good faith and has been derived from sources believed to be accurate at the report request date. However, it is general information only and should not be considered a comprehensive statement on any matter nor relied upon as such. No company in the Westpac Group nor any of their related entities, employees or directors gives any warranty of reliability or accuracy or accepts any responsibility arising in any other way including by reason of negligence for errors or omissions. This disclaimer is subject to any requirement of the law. Description Transactions such as deposits and withdrawals are detailed here. Transaction History This report details every managed fund and listed security trade movement in your Panorama portfolio for the financial year including those within BT Managed Portfolios. Trade Date When an order to purchase, sell or otherwise acquire a security is placed via Panorama. 4 Transaction history - Listed securities 278, Settlement date The date on which the transfer of cash or assets is completed. It is not necessarily the same as value date (when the settlement amount is calculated). Trade date Settlement date Security Description Transaction type Quantity Amount Buy Aug Aug 2015 WOW Woolworths Limited Buy Transaction fee Sell Aug Aug 2015 WBC Westpac Banking Corporation Sell -1, Transaction fee Sell Aug Aug 2015 TLS Telstra Corporation Sell -1, Transaction fee The amount shown is the actual price that applies when your transaction settles. Transactions are reflected in this report as at the date the transaction occurred. The information contained in this statement is given in good faith and has been derived from sources believed to be accurate at the report request date. However, it is general information only and should not be considered a comprehensive statement on any matter nor relied upon as such. No company in the Westpac Group nor any of their related entities, employees or directors gives any warranty of reliability or accuracy or accepts any responsibility arising in any other way including by reason of negligence for errors or omissions. This disclaimer is subject to any requirement of the law. Quantity Number of units held. Amount () Value of holding. 6

5 Definitions 1. Credit BT Cash This amount shows the total of all the cash deposits in the BT Cash including cheques, Bpay and any amounts deposited from external sources, such as from your bank account. 2. Debit BT Cash This amount shows the total of all the cash withdrawals from the BT Cash, including cheques and transfers to your nominated bank account. 3. Asset transfers This is the amount of all assets transferred in and out of your Panorama account during the financial year, including: > > Asset transfers this refers to transfers of investments you already held where there were no changes in beneficial ownership. 4. Net earnings (expense) This amount shows the total of all interest, dividends, distributions received less fees, charges and taxes. 5. Outstanding cash movements This shows the amount that was taken from BT Cash to purchase investments that were not settled by the end of the financial year. Amounts showing may also consist of accrued income not yet received in the account, i.e. distributions, dividends. 6. BT Cash Income This shows the total amount of interest received on cash held in BT Cash. 7. Listed security income This figure shows the total amount of dividends received, on an entitlement basis, from listed securities and listed unit trusts that you hold in your Panorama account. 8. Managed fund income This figure shows the total income, on a cash basis, from managed funds that you hold in your Panorama account. 9. Managed portfolio income This figure shows the total income, on a cash basis, from the managed funds and/or listed securities with managed portfolios that you hold in your Panorama account. 10. Total expenses 1 This figure shows the sum of all fees charged in your Panorama account, including: administration fees, financial advice fees, withholding tax and GST. 11. Unrealised gains/losses This amount is the total gain or loss, due to market movements, on assets held during the financial year. The figure is calculated as the change in market value of assets held at the end of the period. The start date is either the first day of the financial year or the purchase date (if the asset was purchased after the first day of the financial year), and the end date is the last day of the financial year. 11. Realised gains/losses This is the total gain or loss made on assets sold during the financial year. This amount will only include the gain or loss relevant for that period, not for the life of the asset. 1 The cost of investing in underlying managed funds will be reflected in the unit price of that fund. The management expense ratio ( MER ) provides a useful measure of the fund s fees and expenses. Further details are provided in the fund manager s disclosure document. Registered to Bpay Pty Ltd ABN

6 For more information btpanoramaprofessional.com.au/resources/ This document has been prepared and is provided solely for the general guidance of advisers. It may not be copied, used, reproduced or otherwise distributed or circulated without the prior written consent of BTPS. Issue date, July BT Portfolio Services Ltd ABN (BTPS) operates BT Panorama and BT Funds Management Limited ABN (BTFM) is the responsible entity and issuer of interests in BT Cash (the Wrap products). An IDPS Guide is available for BT Panorama and a Product Disclosure Statement is available for BT Cash. These disclosure documents can be obtained from BTPS by calling A person should obtain and consider the disclosure documents before deciding whether to acquire, continue to hold or dispose of interests in the Wrap products. BTPS and BTFM are subsidiaries of Westpac Banking Corporation ABN (Westpac). Apart from any interest investors may have in Westpac term deposits acquired through BT Panorama, an investment in, or acquired using, the BT Panorama products is not an investment in, deposit with or any other liability of Westpac or any other company in the Westpac Group. BT ms