MLC MasterKey Investment Service

Transcription

1 MLC MasterKey Investment Service At MLC we recognise your investment goals are individual. Your Guide to what is included in the MLC MasterKey Investment Service Financial Services Guide (FSG) 1. Service Guide Information on your MLC MasterKey Investment Service. 2. Application Form Application form for MLC MasterKey Investment Service. 3. Investment Menu Information you need to decide which investment options best suit your financial goals. How to contact MLC For more information, call MLC from anywhere in Australia on or contact your adviser. Postal address: MLC Limited, PO Box 200 North Sydney NSW 2059 Website: mlc.com.au Fax: (02)

2 MLC Investments Service Guide MLC MasterKey Investment Service Preparation date: 1 May 2009 Issued by: MLC Investments Limited (MLC) ABN

3 The purpose of this guide is to give you the information you need to decide whether you want to invest through the Service. For more information please contact us, your financial adviser, or go to the online copy of this document on mlc.com.au/fsg/mkis References to mlc.com.au in the electronic copy link, directly to the additional information available.

4 Contents What is covered in this guide MLC. It all adds up 1 At MLC we do things differently because we have your interests at heart. About MLC MasterKey 2 Investment Service At MLC we recognise your investment goals are individual. Things to consider 3 about investing Before you do any investing, there are some things you need to consider. Your investment the details 5 Find out how the Service works for you. Additional 7 information you need to know The ins and outs of how the Service works. Fees and costs 9 This will give you an understanding of what fees and costs you will pay. In addition to this Service Guide you should also read the Investment Menu and Application Form. Together these documents form the Financial Services Guide (FSG) for the MLC MasterKey Investment Service.

5 MLC. It all adds up At MLC we do things differently because we have your interests at heart. We actively manage your money and regularly upgrade our products, so you always benefit from the most up-to-date thinking. We anticipate changes in your needs over time so you can get the right solution, whatever your situation. And, because we know good outcomes rely on good advice, we work with financial advisers who put your needs first. It s these differences, and our 120 years experience of looking after Australians needs, that have brought over 1.5 million people to MLC. The MLC group of companies is a wealth management division of the National Australia Bank (NAB). We provide investment, superannuation and insurance solutions and support the provision of quality financial advice which helps people achieve and protect their lifestyle and financial goals. Your future is what matters And when you invest you want people who are looking out for your interests. As Australia s first and leading multi-manager, we ve been designing investment solutions that aim to deliver better returns with lower risk for over 20 years. We select some of the best investment managers in the world to design solutions tailored to meet a range of different needs. We use sophisticated investment strategies so you can further diversify your portfolio or focus on a particular market. We keep you up to date with regular reports and online access to your account, so you can see exactly how your investments are performing. And, because we have simple transparent fees and consolidated account and tax reporting, you know where your money is and what it s doing for you. Page 01 MLC MasterKey Investment Service

6 About MLC MasterKey Investment Service At MLC we recognise your investment goals are individual. Whether you want to invest for the long or short term, with MLC MasterKey Investment Service you can build a portfolio that speaks to your individual needs. The Service offers access to types of investments not usually available to an individual investor and enables you to buy, hold and sell investments in a range of managed funds offered by MLC as well as other investment managers. And, just as your needs change over time, the Service gives you the flexibility to adjust your portfolio and access your money as you need. With the help of a financial adviser, you can implement strategies to grow and protect your wealth such as using a NAB margin loan to invest. Whatever investments you choose, we keep you updated with regular statements on your account. The Service also caters for self managed super funds, family trusts and companies who want to invest in managed funds. Investments that make sense With MLC you can choose a complete portfolio solution to implement your investment plan. Our multi-manager investment options are designed with one simple goal: to deliver better returns with lower risk. To do this, we access the best investment managers in the world and use manager strategies that aren t available to direct investors. And, to help you customise your portfolio further, we also offer a range of specialist funds. Which means, whatever your needs are, you can build an investment portfolio that can help you achieve what you want. The investment options are detailed in the Investment Menu. MLC MasterKey Investment Service Page 02

7 Things to consider about investing Before you do any investing, there are some things you need to consider. Before you decide to invest you need to consider the following: how many years you will have to invest the savings you will need to reach your goals the return you may expect from your investments, and how comfortably you are with volatility. Investment risk Even the simplest of investments come with a level of risk. While the idea of investment risk can be confronting, it is a normal part of investing. Without it you may not get the returns you need to reach your financial goals. This is known as the risk/return trade-off. The value of an investment with a higher level of risk will tend to rise and fall more often and by greater amounts. In other words it will be more volatile than those with less risk. Fluctuations in the value of your investment Many factors influence an investment s value. These include, but are not limited to: market sentiment growth and contraction in the Australian and overseas economies legislative changes changes in interest rates defaults in loans company specific issues liquidity (the ability to buy or sell investments when you want) changes in the value of the Australian dollar One way to get comfortable with risk is to make sure your portfolio is diversified, which is exactly what MLC specialises in. Page 03 MLC MasterKey Investment Service

8 Investing through the Service is not the same as investing directly in a managed fund Although there are many benefits of investing through the Service, there are some differences you should be aware of: because we invest on a large scale, we can access lower investment fees than those available to the average investor a Custodian (as our agent) holds assets in trust on your behalf. This means you don t have the right to attend unit holder meetings or vote. The Custodian may do this on your behalf in certain circumstances you do not have access to the 14 day cooling off period that is available through managed funds. Tax considerations While you may have to pay tax on your investments, you could be eligible to claim some of the fees as a tax deduction. To help you with this, we will send you a detailed annual Tax Statement so you can prepare your tax return. You can also manage and keep up to date with your tax situation through the on-line reporting at mlc.com.au For more information, please refer to the How to Guide available on mlc.com.au/howto/mkis This section is not a comprehensive and complete tax guide. As tax is complex, we recommend that you contact your financial adviser, tax adviser or the Australian Tax Office (ATO) at ato.gov.au for further details and expert advice in relation to your personal circumstances. Want to know more? Your future is what matters, so we ve developed a lot of information on investment risk and investing for the future. Just talk to your financial adviser, refer to the Product Disclosure Statement of the underlying investment option or go to mlc.com.au MLC MasterKey Investment Service Page 04

9 Your investment the details Find out how the Service works for you. Opening an account Getting started with the Service is easy. Just fill out the Application Form and send it to MLC or apply through your financial adviser. You must be: an individual over 18 years of age, or a company, partnership, executor, trustee, or incorporated body. All signatories of the account will need to provide proof of their identity. Account minimums To invest in the Service you need a minimum of $1,000 per investment option as well as any required holding in the MLC Cash Fund. MLC Cash Fund When you open your account, your preferred investment mix will determine whether you are required to have a holding in the MLC Cash Fund. If you invest in only MLC options then you are not required to hold the MLC Cash Fund. However, if you choose to invest in the MLC Cash Fund, we will deduct any fees on your account from this Fund. If you invest in one or more investment options not managed by MLC you are required to hold the MLC Cash Fund to cover the Administration fee and other fees on your Service account. You will need to invest an initial amount of $1,000 into the MLC Cash Fund and you will need to maintain a balance of at least $100. There are a number of ways to do this which are outlined in the How to Guide available on mlc.com.au/howto/mkis You can find out about the MLC Cash Fund in the current MLC MasterKey Unit Trust PDS available on mlc.com.au Page 05 MLC MasterKey Investment Service

10 Adding to your account Once you ve opened your account, you can make one-off investments to it by direct debit, Bpay or cheque. The minimum additional one-off investment amount is $500 per investment option. You can also set up a Regular Investment Facility for monthly investments from your bank account. The minimum regular investment amount is $200 per investment option. We can only process additional investments when we receive all required information. Investments we can t process will be held in trust for up to 30 days. Any interest earned during this time will be kept by MLC. Accessing your money You can request a one-off partial or full withdrawal from your account at any time. Consolidating your account Putting all your investments in one Service makes sense; you may save on fees and also have a consolidated view of your investments. If you have investments through another service provider you may be able to transfer them into your Service account, without incurring any Capital Gains Tax (CGT). Receiving distribution income Most investment options will generally distribute income throughout the year. You can manage this income by: reinvesting it in the same investment option investing in the MLC Cash Fund, or having it paid into your bank account. The minimum one-off withdrawal amount is $500 per investment option. If you d like to make regular withdrawals, you can set up a Regular Withdrawal Facility. The minimum regular withdrawal amount for this Facility is $200 per investment option. Registered to Bpay Pty Ltd ABN MLC MasterKey Investment Service Page 06

11 Additional information you need to know The ins and outs of how the Service works. Buying and selling investments Usually, if you are buying or selling units in an MLC investment option, we will process your request on the same day. For investment options not managed by MLC, it may take those investment managers a number of days to process your request. MLC or other investment managers may refuse or vary the terms for processing a request in certain circumstances. The consequences are that there are times when your instruction may not be able to be actioned. We may also change our processes and procedures. Additional information on how we process your requests are available in the How to Guide available on mlc.com.au/howto/mkis How your account is valued When you pay money into your account the Service purchases units on your behalf. These units are allocated to your account. When you withdraw money, units are deducted from your account and sold on your behalf. The value of your account is based on: the number of units in your chosen investment options, and the price of those units. Your account value takes into account pending transactions (ie transactions that may not have been processed by the investment manager of an investment option). The overall value of your account will change according to the unit price and the number of units you hold. Unit prices are generally calculated daily by the investment managers of the options. You can find out more about unit prices by going to the PDS of the relevant investment option, available at mlc.com.au Page 07 MLC MasterKey Investment Service

12 Keeping you informed We provide the following information so you can stay informed about your investments and any opportunities that may arise. Welcome letter How to Guide Quarterly Investor Statements Annual Investor Statement Annual Tax Statement mlc.com.au Service and investment option changes Service Contract Other communications Confirms your account has been opened. Provides instructions about how to transact on your account and other important information about how the Service operates. Available on mlc.com.au/howto/mkis Provides details of investments held and transactions over the quarter ending, June, September, December and March as well as NAB Margin Loan balance information for loans used to invest wholly through the Service. Provides a summary of investments held and transactions made over the year as well as NAB Margin Loan balance information for loans used to invest wholly through the Service. It also includes an external auditor s report. Gives you the break-up of your taxable income received from the Service during the financial year to assist you in completing your Tax Return. Provides information to help build your knowledge on superannuation, retirement and investing. You can also access your account information. Changes will be made from time to time. Changes that are not materially adverse will be made available on mlc.com.au. We will also provide you details of any other changes made. You can get a copy of the latest Product Disclosure Statement (PDS) for each investment option on mlc.com.au or by contacting us. Please read the latest PDS before making an investment into an investment option. Governs the relationship between you and the Service and governs the way MLC can deal with your investment. A copy of this document is available upon request free of charge and a summary is provided in the back of the Application Form. You can request information you would receive if you were a direct investor in an investment option. Communications include such things as the audited financial statements of the investment options. A fee may apply for these communications (see page 12). Resolving complaints We can usually resolve complaints over the phone. If we can t or you re not satisfied with the outcome, then you will need to write to us. To help us identify your letter quickly, please mark your envelope Notice of complaint and send to: The Manager MLC Complaint Resolutions PO Box 1086 North Sydney NSW 2059 We will confirm in writing within two business days that we ve received your complaint. We will work to resolve your complaint as soon as possible, even though the law allows us up to 45 days to respond. If we are unable to resolve the complaint within this time, or if you are not satisfied with the outcome, we encourage you to seek assistance from the Financial Ombudsman Service. This is an independent body that can be contacted by telephoning or by ing info@fos.org.au More information is available on fos.org.au MLC MasterKey Investment Service Page 08

13 Fees and costs This will give you an understanding of what fees and costs you will pay. Did you know? Small differences in both investment performance and fees and costs can have a substantial impact on your long term returns. For example, total annual fees and costs of 2% of your fund balance rather than 1% could reduce your final return by up to 20% over a 30 year period (for example, reduce it from $100,000 to $80,000). You should consider whether features such as superior investment performance or the provision of better member services justify higher fees and costs. You may be able to negotiate to pay a lower contribution fee and management costs where applicable. Ask us or your financial adviser. To find out more If you would like to find out more, or see the impact of fees based on your own circumstances, the Australian Securities and Investments Commission (ASIC) website fido.asic.gov.au has a managed investment fee calculator to help you check out different fee options. This section outlines the fees and costs that apply to: investing through the Service (including transactional expenses) using the services of a financial adviser, and investing in the various investment options These fees and costs may be deducted from your balance of your account (see page 5), from the returns on your investment, or from the funds assets as a whole for the investment options selected. Any fees that apply to the investment options you choose will generally be set out in the PDS for each option which are available from mlc.com.au or your financial adviser. All fees on pages 10 to 13 are shown inclusive of GST and net of Reduced Input Tax Credits. Page 09 MLC MasterKey Investment Service

14 Type of fee or cost Amount How and when paid Fees when your money moves in or out of the Service Establishment fee Nil. The fee to open your account. Contribution fee The fee on each amount contributed to your account. Withdrawal fee The fee on each amount you take out of your account. Termination fee The fee to close your account. Management costs The fees and costs for managing your account. 5% of any investment you make in the Service. A lower Contribution fee can be negotiated with your financial adviser. Nil. Nil. Administration fee The percentage is based on the combined account balances you, and any eligible linked investor have in MLC MasterKey accounts. A portion of this fee may be refunded. The fee refund is detailed on page 12. MLC Cash Fund MLC- Vanguard Australian Share Index Fund All other investment options 0.80% pa 0.97% pa 1.35% pa There is no Establishment fee. The Contribution fee is paid to your financial adviser and is calculated as a percentage of your investment and deducted from your account at the time of each investment. There is no Withdrawal fee. Asset transfer fees may apply, see page 12. There is no Termination fee. Asset transfer fees may apply, see page 12. Calculated on your daily balance in each investment option. The Administration fee for the MLC investment options is deducted daily from the assets of each Fund, before the unit price is calculated. The Administration fee for the investment options not managed by MLC is deducted monthly from your balance in the MLC Cash Fund. On closure of your account, any unpaid Administration fees will be deducted. May be increased by MLC with 30 days prior notice to you. The fees and costs of the investment options in your account. Investment fee Ranges from 0.19% pa to 1.54% pa. The amount you pay for a specific investment option is shown in the Investment Menu, or in the PDS for the relevant investment option. Issuer fee Up to 0.12% pa. Reflected in the daily unit price for each investment option. Varies daily as investment costs change. Only applies to certain investment options as shown in the Investment Menu. Calculated on your daily account balance in each investment option and deducted monthly from your balance in the MLC Cash Fund, or upon closure of your account. May be varied by MLC with 30 days prior notice to you. Service fees 1 Investment switching fee The fee for changing investment options. Nil. There is no investment switching fee. 1 Other service fees may apply. Refer to Additional explanation of fees and costs section on page 12 and 13 for further information. MLC MasterKey Investment Service Page 10

15 Fees and costs Example of annual fees and costs for a balanced investment option This table gives an example of how the fees and costs in the balanced investment option in the Service can affect your investment over a 1 year period. You should use this table to compare this product with other investment products. Example - the MLC Horizon 4 Balanced Portfolio Balance of $50,000 with total contributions of $5,000 during the year Contribution fees 0% 5% For every $5,000 you put in, you will be charged between $0 and $250. Plus Management Costs Equals Cost of fund 1.88% pa made up of Administration fee 1.35% Investment fee 0.53% 1 1 The Investment fee for MLC Horizon 4-Balanced Portfolio is 0.53% 2 Additional fees may apply: Establishment fee - $0 And, if you leave the service early, you may also be charged withdrawal fees of 0% of your total balance. And, for every $50,000 you have in the investment option you will be charged $940 If you put in $5,000 during a year and your balance was $50,000, then for that year you will be charged fees from: $940 2 and $1,190 2 What it costs you will depend on the investment option you choose and the fees you negotiate with your financial adviser. Page 11 MLC MasterKey Investment Service

16 Additional explanation of fees and costs Fee refund The fee refund is based on the combined account balances you, and any eligible linked investor have in MLC MasterKey accounts. Calculated on your monthly account balance and paid quarterly, the fee refund is: 0.17% pa for combined account balances of between $200,000 and less than $400, % pa for combined account balances $400,000 and over. To receive the fee refund, your account must be open at the time the refund is paid. The fee refund is subject to change. More details on how this refund is calculated are available in the How to Guide available on mlc.com.au/howto/mkis Investment manager fee rebate Some investment managers provide a rebate on their investment management fee, which we pass entirely back to your account. The investment fees in the Investment Menu are shown after allowing for this rebate. Performance fee An investment manager may charge a performance fee when its investment returns exceed a specified level. Where applicable, an estimate of this fee is included in the investment fees shown in the Investment Menu. You can get more information on how performance fees are calculated by going to the investment managers PDS available on mlc.com.au Investment communication fee You can request copies of communications such as the audited financial statement of the investment options offered through the Service. There is no charge for communications relating to MLC investment options. For investment options not managed by MLC, a $50 fee will be charged per communication. This fee will be deducted from your account when the communication is sent. Asset transfer fee A $75 fee per investment option is charged if you transfer your units out of the Service. This will be deducted from your account before the transfer occurs. Minimum account balance fee If your account balance is less than $10,000 in any one month, you will be charged 0.11% per month on the difference between $10,000 and the balance of your account. If you are invested in the MLC Cash Fund, the fee will be deducted from that Fund. If you are not invested in the MLC Cash Fund, the fee will be deducted as per your nominated draw down strategy (see question 6 of the Application Form), or if no strategy exists, pro rata across all of your investment options. MLC MasterKey Investment Service Page 12

17 Additional explanation of fees and costs Fees paid to NAB group companies MLC may use the services of NAB owned companies where it makes good business sense to do so and will benefit our customers. Contribution based commission Amount financial adviser actually paid Up to 5.365% (inclusive of GST) How it s paid At the time you make an investment Amounts paid for these services are always negotiated on an arms length basis and are included in all the fees detailed on these pages. Each financial year, MLC pays NAB a fee of up to 0.1% of investments made to the Service by customers introduced by NAB. This is included in the fees and cost already shown on page 10 and 11. Adviser remuneration Your adviser may receive a payment from MLC for providing you continuing advice in one or more of the following ways: Contribution-based commission and/or Asset based commission and/or An Adviser service fee. Advisers may receive alternative forms of remuneration from MLC, such as the costs of maintaining their professional development qualifications. This is paid from the Administration fee and is not an additional cost to you. Actual payments are recorded in registers which you can view on request. Asset based commission Amount of combined portfolio balance (serviced by the same financial adviser) $0 to less than $50, % $50,000 to less than $100, % $100,000 to less than $200, % $200,000 to less than $400, % $400,000 and over 0.66% Rate of asset based commission (pa) 1 (inclusive of GST) Dishonours If your direct debit or cheque is dishonoured we may recover the costs of the dishonour by selling units from your account or obtaining the amount directly from you. We also reserve the right to sell units from your account to recover distribution income and rebates paid in respect of dishonoured amounts. Other costs How it is paid to your financial adviser Paid monthly based on the balance of you account in that month 1 The rate of asset based commission for the MLC Cash Fund is 0.28% pa (inclusive of GST). Adviser service fee If you wish, you can have amounts deducted from your account to pay fees to your financial adviser. This fee will be in addition to the other fees described in the Fee and costs section. Any arrangement you have should be detailed in the Statement of Advice provided by your financial adviser. If, as a result of holding assets for you or carrying out your instructions, MLC is charged a fee (including taxes) or other liability, then MLC is entitled to seek reimbursement from you or your account. Page 13 MLC MasterKey Investment Service

18 The Service MLC Investments Limited is the Operator of the MLC MasterKey Investment Service ( the Service ) and is licensed to: provide general financial product advice on a wide range of financial products; deal in a wide range of financial products; operate certain types of managed investment schemes and is the Trustee of MLC Cash Fund and the MLC investment options; Provide custodial and depository services. MLC does not act as a representative of another financial services licensee nor on behalf of any other third party in providing financial services to you. MLC has professional indemnity insurance which satisfies the requirements for compensation arrangements under the Corporations Act. The insurance includes cover for claims in relation to the conduct of representatives/employees who no longer work for us (but who did at the time of the relevant conduct). MLC is the custodian of the MLC investment options. State Street Australia Limited is the custodian for units in the options not managed by MLC. The role of the custodian is limited to holding the assets in trust as our agent. We may change the custodian at any time without prior notice to you. Product Disclosure Statements (PDS) for the MLC investment options, MLC Cash Fund and options not managed by MLC are available on mlc.com.au. More information on NAB Margin Lending is available on nab.com.au Any advice in this Service Guide has been prepared without taking account of your objectives, financial situation or needs. Because of this, you should, before acting on any advice in this Service Guide, consider whether it is appropriate to your objectives, financial situation, and needs. MLC MasterKey Investment Service Page 14

19 Your notes Page 15 MLC MasterKey Investment Service

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21 MLC Investments How to contact MLC For more information call MLC from anywhere in Australia on or outside Australia. Website: mlc.com.au Fax: (02) Postal address: PO Box 200 North Sydney NSW 2059 Registered office: Ground Floor, MLC Building Miller Street North Sydney NSW M0209

22 MLC MasterKey Investment Service Application Form MLC Investments Limited ABN AFSL Preparation date: 1 May 2009 Office Use Only: INBN This Application Form forms part of the Financial Services Guide (FSG) for the MLC MasterKey Investment Service. The other parts of the FSG that you should read are the Service Guide and the Investment Menu. IMPORTANT INFORMATION Before sending this Application Form to MLC, please check that you have completed: all questions on the Application Form (as appropriate) by printing clearly in the spaces provided and have signed the relevant sections, received: - the current Financial Services Guide (ie The Service Guide) for this Service; - the Product Disclosure Statements (PDS) for the investment options you have selected and the MLC Cash Fund (if selected); - the Service Contract (summary included on page 11 of this form). Proof of Identity If you are applying for this product via a financial adviser, they will verify your identity before you invest. If you are applying for this product directly to MLC: for Individuals, Joint or Trust (for minors) account type, attach certified copies of the acceptable proof of identity documents outlined in the Proof of Identity form on mlc.com.au for all other account types, complete and submit the Identification form relevant to the account type available on mlc.com.au, and attach certified copies of the acceptable proof of identity documents. If you are making an investment by cheque, please make it payable to MLC MasterKey Investment Service crossed Not negotiable. Please forward everything to: MLC MasterKey Investment Service PO Box 200 North Sydney NSW 2059 Please note: This form contains unique tracking information that assists MLC in the timely processing of your application. Please do not use a photocopy of this form. YOUR APPLICATION DETAILS 1 Type of account What type of account are you opening? (Complete ID forms if investing without an adviser) Individual Joint Trust (for minors) Refer to Proof of Identity Form Partnership Complete Identification Form for Partnership and Partners Company Complete Identification Form for Australian Company Super Fund Trust Complete Identification Form for Trusts and Trustees Unincorporated eg Association, Registered Co-operative, Government Body Complete Identification Form for Association, Registered Co-operative, Government Body (as applicable) 2 Applicant details Applicants must be at least 18 years of age; Applicant 1 / Signatory 1 Mr Mrs Ms Miss Other Surname (Family name) Given name(s) Residential address Note: Your residential address cannot be a PO Box. Date of birth / / Postcode Gender Male Female Existing MasterKey Customer Number (if known) Existing NAB Customer Number (if known) Page 1 of 12 MLC MasterKey Investment Service Application Form

23 Applicant 2 / Signatory 2 (Joint accounts) Mr Mrs Ms Miss Other Surname (Family name) 3 Contact details Postal Address for all correspondence Note: We cannot accept a third party address eg financial adviser Applicant 1 Given name(s) Residential address Note: Your residential address cannot be a PO Box. Postcode Home number Work number ( ) ( ) Facsimile Mobile ( ) ( ) address Postcode Date of birth / / Gender Male Female Applicant 2 Existing MasterKey Customer Number (if known) Existing NAB Customer Number (if known) Name of Company/Partnership/Unincorporated body (if applicable) Postcode Home number Work number ( ) ( ) Facsimile Mobile ( ) ( ) address Name of Trust/Superannuation Fund (if applicable) Name of Trust (for minor if applicable) Name of Business (if applicable) Registered Office Address Note: Your registered office address cannot be a PO Box. 4 Tax File Number (TFN) / Australian Business Number (ABN) exemption You are not obliged to quote either a TFN, ABN, or claim an exemption, however where a valid TFN or ABN has not been provided we will deduct tax from distributions of income made to you at the highest marginal rate plus Medicare Levy. Applicant 1 TFN/ABN Name Postcode Principal Place of Business/Administration/Operations Note: Address cannot be a PO Box. Applicant 2 TFN/ABN Name Postcode Nature or Purpose of Business/Trust/Partnership/Unincorporated body If you are exempt from quoting a Tax File Number tick the appropriate box: I receive an Age, Service, Invalid or Veteran s Pension I receive a Wife, Carer, Widow, Sole Parent or Special Benefit Pension I am a resident of one of Australia s external territories I represent an entity not required to lodge a tax return (eg association) I am an overseas resident Country of Residency: Page 2 of 12 MLC MasterKey Investment Service Application Form

24 YOUR INVESTMENT STRATEGY 5 Initial Investment How are you making your initial investment? Direct debit Complete your financial institution details in Question 12: or Cheque Please make the cheque payable to MLC MasterKey Investment Service Transfer your existing MLC MasterKey Unit Trust account Complete Question 17 and the Standard Transfer form (page 9) to transfer your units in the Service (you do not need to complete Question 6). 6 Investment Strategy How would you like to allocate your investments? Please complete the table below as follows: Column A show how your initial investment is to be invested. Column B show how your Regular Investment Facility is to be invested. Column C show how your Regular Withdrawal Facility is to be deducted. Note: where there are insufficient funds in an investment option, we will draw down the remaining amount by selling units pro-rata on the value of all your remaining options. Column D show the Pre-nominated investment strategy for future investments to your account (optional). Column E show the order of preference in which your investment options will be drawn down to top up your MLC Cash Fund balance (if held). Please number the investment option(s) in order of preference (1, 2, 3 etc). If this column is left blank, fees will be deducted pro-rata on the value of each investment option in your account. MLC Portfolios MLC investment options Investment options not managed by MLC Investment options Column A Initial Investment min $1,000 per option Column B Regular Investment Facility min $200 per option Column C Regular Withdrawal Facility min $200 per option Column D Pre-nominated investment strategy % per option MLC Horizon 1 Bond Portfolio $ $ $ % MLC Horizon 2 Income Portfolio $ $ $ % MLC Horizon 3 Conservative Growth Portfolio $ $ $ % MLC Horizon 4 Balanced Portfolio $ $ $ % MLC Horizon 5 Growth Portfolio $ $ $ % MLC Horizon 6 Share Portfolio $ $ $ % MLC Horizon 7 Accelerated Growth Portfolio $ $ $ % MLC Long-Term Absolute Return Portfolio # $ $ $ % MLC Australian Share Fund $ $ $ % MLC Australian Share Growth Style Fund $ $ $ % MLC Australian Share Value Style Fund $ $ $ % MLC Cash Fund $ $ $ % MLC Diversified Debt Fund # $ $ $ % MLC Global Property Fund # $ $ $ % MLC Global Share Fund $ $ $ % MLC Global Share Growth Style Fund $ $ $ % MLC Global Share Value Style Fund $ $ $ % MLC Hedged Global Share Fund # $ $ $ % MLC IncomeBuilder $ $ $ % MLC Platinum Global Fund (existing investors only) $ $ $ % MLC Property Securities Fund $ $ $ % Antares Lodestar Absolute Return Trust Australian Shares $ $ $ % Ausbil Australian Emerging Leaders Fund $ $ $ % AXA Wholesale Global Equity-Value Fund $ $ $ % BlackRock Global Allocation Fund $ $ $ % BlackRock Global Small Cap Fund (Unhedged) $ $ $ % Challenger Wholesale Select Australian Share Fund $ $ $ % Fortis Investments Australian Equity Fund $ $ $ % Investors Mutual Australian Share Fund $ $ $ % Legg Mason Property Securities Trust $ $ $ % MLC Capital International Global Share Fund $ $ $ % MLC-Vanguard Australian Share Index Fund $ $ $ % Northward Capital Australian Equity Trust $ $ $ % Perennial Value Shares Wholesale Trust $ $ $ % Perpetual s Wholesale Australian Fund $ $ $ % Perpetual s Wholesale Ethical SRI Fund $ $ $ % Perpetual s Wholesale Smaller Companies Fund No 2 $ $ $ % Platinum Asia Fund $ $ $ % Platinum International Fund $ $ $ % PM CAPITAL Absolute Performance Fund $ $ $ % Schroder Wholesale Australian Equity Fund $ $ $ % T. Rowe Price Global Equity Fund $ $ $ % Vanguard Australian Fixed Interest Index Fund $ $ $ % Vanguard International Fixed Interest Index Fund (Hedged) $ $ $ % Vanguard International Shares Index Fund (Hedged) $ $ $ % Vanguard International Shares Index Fund (Unhedged) $ $ $ % Vanguard Property Securities Index Fund $ $ $ % TOTAL $ $ $ 100% Column E Draw down sequence 1, 2, 3 etc. # If investing in this investment option you are referred to as a Class B investor in the relevant PDS. Page 3 of 12 MLC MasterKey Investment Service Application Form

25 YOUR INVESTMENT FACILITIES 7 Distribution Income How do you want to receive your distribution income? Reinvest my distributions back into the same investment option; or Reinvest my distributions into the MLC Cash Fund; or Pay my distributions to my financial institution account supply your financial institution account details in question 12. Note: If no selection is made, any distributions that you are entitled to will be reinvested back into the same investment option. If your distributions are reinvested, you may not have the current PDS (if any) in respect of the investment options into which you are reinvesting your distributions. The latest PDS are available from mlc.com.au 8 Regular Investment Facility Do you want to make regular investments? No Go to question 9 Yes Complete the details below Preferred start date / / Note: If you do not select a date, the direct debit will occur on the first business day of the month. If a direct debit is dishonoured by your financial institution we will be required to sell the units that were bought and if there is a negative difference we may be required to sell additional units from your Service account in addition to recovering any cost incurred by MLC as a result of the dishonour. Complete Column B in Question 6 to nominate the amount to be invested in each investment option. Nominate your financial institution account details in question 12. To increase your payment amount automatically each year, select from one of the following rates: 1% 2% 3% 4% 5% 10% 9 Regular Withdrawal Facility Do you want to receive regular withdrawals from your account? No Go to question 10 Yes Complete the details below Preferred start date / / Note: If you do not select a date, the draw down date will be the first business day of the month. If withdrawing from MLC investment options, allow approximately 4 business days from your nominated monthly date for these funds to be deposited into your pre-nominated financial institution account. If withdrawing from Other investment options, allow approximately 7 business days from your nominated monthly date for these funds to be deposited into your pre-nominated financial institution account. Complete Column C in Question 6 to nominate the dollar amount per investment option you would like per month. Nominate your financial institution account details in question Reporting How would you like us to provide you with information on your account? If no selection is made, we will provide electronic reporting. Electronic reporting via mlc.com.au and confirmations (provide your address in Question 3); or Paper statements for example, Quarterly investor statements. 11 Joint Applicants Do you require all applicants to sign when making a transaction (except for telephone transactions)? No Yes If you ticked No above, each of you is able to operate the account and bind the other(s) to any transaction made on the account. 12 Financial Institution Account Details a) For Initial and Additional Investments Are you making the initial or additional investments by direct debit from a financial institution account? No Go to question 12 (b) Yes Provide the details below Direct Debit Request Schedule The Direct Debit Request Service Agreement on page 11 describes the terms and conditions. Ensure you select one Account per facility: Account One Name of financial institution Name of account BSB Account number Please specify the type(s) of investment to be drawn from this account: Initial investment Additional investments by phone/facsimile Regular investment facility Signature of account holder(s) / / / / Must be signed by all account holder(s) To increase your payment amount automatically each year, select from one of the following rates: 1% 2% 3% 4% 5% 10% Page 4 of 12 MLC MasterKey Investment Service Application Form

26 Account Two Name of financial institution Account Two Name of financial institution Name of account Name of account BSB Account number BSB Account number Please specify the type(s) of investment to be drawn from this account: Initial investment Additional investments by phone/facsimile Regular investment facility Signature of account holder(s) Please specify the type(s) of investment to be drawn from this account: Distribution income Withdrawal by phone/facsimile Regular withdrawal facility Signature of account holder(s) / / / / / / Must be signed by all account holder(s) / / Must be signed by all account holder(s) b) For Distribution Income and Withdrawals Do you want to nominate a financial institution account for your withdrawals and distribution income to be paid into? No Go to question 13 Yes Provide the details below Account One Name of financial institution Name of account BSB Account number Please specify the type(s) of investment to be drawn from this account: Distribution income Withdrawal by phone/facsimile Regular withdrawal facility Signature of account holder(s) / / / / Must be signed by all account holder(s) Page 5 of 12 MLC MasterKey Investment Service Application Form

27 Authorised Representative 13 Complete this question if you want to appoint another person to access information, or transact on your account. Your authorised representative is not permitted to perform any other actions in respect of your account. Do you want to nominate an authorised representative? No Go to question 14 Yes Provide the details below Mr Mrs Ms Miss Other Surname (Family name) Given name(s) Date of birth of authorised representative / / Residential address (Note: Cannot be a PO Box) Postcode MLC MasterKey Customer Number (if existing customer) Home number Work number ( ) ( ) Facsimile Mobile ( ) ( ) address Signature of authorised representative Adviser Service Fee 14 Do you wish to have an Adviser service fee deducted from your account? No Go to question 15 Yes Complete the details below I request, until further notice from me, that MLC deduct an Adviser service fee of the following amount from my account to pay my financial adviser for the advice provided in relation to my MLC MasterKey Investment Service account. Percentage based fee or Dollar based fee $ pa or/and One off fee $ % pa of my account balance 15 Contribution Fee Do you wish to have a Contribution Fee deducted from investments to your account? No Go to question 16 (No fee will be deducted) Yes Complete the details below Select the Contribution Fee to apply to the initial investment* 0% 1% 2% 3% 4% 5% other (up to 5%) % Select the Contribution Fee to apply to additional investments* 0% 1% 2% 3% 4% 5% other (up to 5%) % Select the Contribution Fee to apply to regular investments* 0% 1% 2% 3% 4% 5% other (up to 5%) % * Inclusive of GST and net of RITC. Linking For Fee Refunds 16 Do you wish to nominate a person for linking? No Go to question 17 Yes Applicant 1 Your Name Complete the details below / / What level of authority will this person have on your account? My authorised representative is able to make enquiries only on my account. My authorised representative is able to make enquiries and transact on my account. This must be signed by both applicants if this is a joint application. Applicant 1 Signature / / Applicant 2 Signature Name of nominated person You can only link with one other MasterKey investor. Refer to the How to Guide on mlc.com.au for more information. Date of birth of nominated person / / Residential address (Cannot be a PO Box) Postcode MLC MasterKey Customer Number of nominated person Relationship to you Spouse De facto Parent Child Sibling Signature of nominated person / / Page 6 of 12 MLC MasterKey Investment Service Application Form / /

28 Transfer MLC MasterKey Unit Trust Account 17 Would you like to transfer your existing MLC MasterKey Unit Trust account to the MLC MasterKey Investment Service? No Go to question 18 Yes 1 0 Provide the details below Please complete the Standard Transfer Form attached to this form to transfer your units. By ticking yes above and providing your MLC MasterKey Unit Trust account number, you authorise MLC (and its agents) to take all actions necessary to transfer your units into the Service. You also confirm that you are either (a) the beneficial owner of your existing account or (b) a trustee of the account for beneficial owners only. ( Beneficial owner means someone who is ultimately entitled to the assets and income of the account) NAB Margin Lending 18 Are you borrowing through NAB Margin Lending to invest wholly through the Service? No Yes application DECLARATIONS Marketing consent So that we can offer you the best products to meet your needs we need your consent to use your personal information for marketing activities. Further information on the types of activities we may engage you in is available on mlc.com.au. You can change your consent at any time. If you do not tick a box your consent will be assumed. Do we have your consent? Yes No Privacy I acknowledge that I have access to NAB s privacy policy and agree that any member of the National Australia Bank Group may collect, use, disclose and handle my personal information in a manner set out in the Group s privacy policy available on mlc.com.au. I agree to MLC providing information to my margin lender and/or my financial adviser on my account. Member acceptance I understand that this Application Form, the Service Guide, and the Service Contract form the basis of the agreement between myself and MLC. I agree to be bound by the terms of the agreement, as amended from time to time, between myself and MLC. By completing and signing this application form I: confirm that I have received the current Service Guide and all current PDS s for each investment option selected; acknowledge that it is my responsibility to be fully informed about any investment I consider for inclusion in my portfolio at all times. Understanding investment risk I understand that my investment acquired through the Service does not represent a deposit with or a liability of MLC, National Australia Bank Limited, or other member companies of the National Australia Bank Group. An investment is subject to investment risk including possible delays in repayment and loss of income and capital invested. Direct Debit and Regular Investment Facility If I am using the direct debit facility for investments I have read the Direct Debit Request Service Agreement and the Service Contract. Standing instructions I acknowledge, if I have provided regular investment instructions, that the investments may be made until I cancel the instruction, and that an investment may be made without me having been given a current PDS for an investment nominated in the instruction. I give MLC a standing instruction to withdraw units from my Service account to maintain a minimum balance in the MLC Cash Fund. I also authorise MLC to establish an investment in the MLC Cash Fund where I do not nominate the MLC Cash Fund as one of my investment options but have invested in one or more investment option not managed by MLC. Applicant declaration I confirm that I am 18 years of age or over and as far as I am aware, everything I have provided in this application form is true. If there are any changes to this information in the future, I will advise MLC as soon as possible. Offer within Australia I understand that this offer is made in Australia in accordance with Australian laws and my account will be regulated by these laws. Notification of changes I understand that I will not be given advance notice of any changes that are not materially adverse. I am aware that any non material changes will be available on mlc.com.au and I can obtain a paper copy of these changes on request, free of charge. If Company, must be signed by: two directors. or a director and a secretary; or if sole director, then sole director to sign; or Note: Companies must provide a list of signatories on the account. Applicant 1 or Power of Attorney Name Signature / / Applicant 2 or Power of Attorney Name Signature / / Page 7 of 12 MLC MasterKey Investment Service Application Form

29 This section is for financial adviser use only By providing your financial adviser details you confirm that the investor has received and read the Service Guide and relevant PDS for each investment option selected. Standard commission Do you wish to refund a portion of your standard (ongoing) commission as additional units to your client? No Yes What percentage of ongoing commission? % Name of financial adviser one RECORD OF IDENTIFICATION For Individual, Joint and Trust for Minor applicants, please complete the Record of Identification below. Applicant 1 ID Document Details Document 1 Document 2 Verified From Document Issuer Issue Date Expiry Date Document Number Original Certified Copy Original Certified Copy Financial Adviser number Accredited English Translation N/A Sighted N/A Sighted Business number Facsimile ( ) ( ) address Commission split % Applicant 2 ID Document Details Document 1 Document 2 Verified From Original Original Certified Copy Certified Copy Document Issuer Issue Date Expiry Date Document Number Name of financial adviser two Accredited English Translation N/A Sighted N/A Sighted Financial Adviser number For all other types of applicants, please send a copy of the IFSA/FPA Identification Form relevant to the account type. You can obtain the Identification form from: ifsa.com.au/standards & guidance notes / IFSA guidance notes / guidance notes no.24 Business number Facsimile ( ) ( ) address Commission split % Page 8 of 12 MLC MasterKey Investment Service Application Form

30 How to complete a Standard Transfer Form (For transfers of units from MLC MasterKey Unit Trust to MLC MasterKey Investment Service) To request the transfer of units: Complete this form in addition to the MLC MasterKey Investment Service Application Form. Send both forms to us. It is important that you read and understand the information in the MLC MasterKey Investment Service Guide before completing this form and the Application Form. Step 1 Write the name of each MLC MasterKey Unit Trust investment option being transferred in the Description of Securities section of Section 2. (Note that as no part-transfers can take place, you must ensure that you list all of the investment options that you have in your MLC MasterKey Unit Trust account in the space provided). Eg MLC IncomeBuilder MLC Horizon 4 Balanced Portfolio MLC Property Securities Fund Step 2 Add up the total number of units of all the investment options being transferred. You can obtain this information from your most recent quarterly investor statement, or by going to mlc.com.au or calling us on You write the amount in words in the Quantity section of Section 2. For example if MLC IncomeBuilder has 300 units, MLC Horizon 4 Balanced Portfolio has 200 units and MLC Property Securities Fund has units, then write: Eg Six hundred and fifty, point five units Step 3 Write the same amount as Step 2 in numbers in the Quantity section of Section 2. Eg units Step 4 Write the name(s) of all account holder(s) in block letters in the Full name(s) of transferor(s) seller(s) section of Section 3. Eg Surname WILSON Surname WILSON Given Name SAM Given Name JANE Step 5 All account holder(s) must ensure that they have read and understood the Removal Request contained in Section 7. Then all account holder(s) should sign and date the 'Transferor(s)' section of Section 8. Leave all other fields BLANK. Please ensure you: 1. Check that Question 17 of the MLC MasterKey Investment Service Application Form is completed. 2. Return the completed original form(s) to MLC MasterKey Investment Service, PO Box 200, North Sydney, Page 9 of 12 MLC MasterKey Investment Service Application Form

31 Standard Transfer Form Affix Stamp Duty Here 1. FULL NAME OF COMPANY OR CORPORATION 2. DESCRIPTION OF SECURITIES MLC Investments Limited Registered Office: Miller Street, North Sydney, NSW 2060 Class MLC MasterKey Unit Trusts Registered in New South Wales (name of each MLC MasterKey Unit Trust investment option) Units QUANTITY Total MLC MasterKey Unit Trust units Total MLC MasterKey Unit Trust units (in words) (in numbers) 3. FULL NAME(S) OF TRANSFEROR(S) [SELLER(S)] Surname Given Name(s) Surname Given Name(s) (PLEASE USE BLOCK LETTERS) (PLEASE USE BLOCK LETTERS) 4. CONSIDERATION NIL Date of Purchase 5. FULL NAME(S) OF TRANSFEREE(S) [BUYER] 6. FULL ADDRESS OF TRANSFEREE(S) [BUYER] MLC INVESTMENTS LIMITED (ABN ) Ground Floor MLC Building Miller Street North Sydney NSW REMOVAL REQUEST Please enter the above securities on the MLC MasterKey Investment Service Registered in New South Wales I/We the registered holder(s) and undersigned Transferor(s) for the above consideration do hereby transfer to the above name(s) hereinafter called the Transferee(s) the securities as specified above standing in my/our name(s) in the registers of the above named MLC MasterKey Unit Trust investment options, subject to the several conditions on which I/we held the same at the time of signing hereof and I/we the Transferee(s) do hereby agree to accept the said securities subject to the same conditions. I/We have not received any notice of revocation of the Power of Attorney by death of the grantor or otherwise, under which this transfer is signed. 8. TRANSFEROR(S) FOR COMPANY USE [SELLER(S)] / / SIGN HERE DATE SIGNED / / 9. TRANSFEREE(S) [BUYER(S)] SIGN HERE DATE SIGNED / / Office Use Only: INBN Page 10 of 12 MLC MasterKey Investment Service Application Form

32 Tear off and keep for your records DIRECT DEBIT request SERVICE AGREEMENT This Service Agreement and the Schedule in question 12 contain the terms and conditions on which you authorise MLC to debit money from your financial institution account and the obligations of MLC and you under this agreement. You should read through the Service Agreement and Schedule carefully to ensure you understand these terms and conditions. You should direct all enquiries about your direct debit to the MLC Client Service Centre on between 8 am and 6 pm (Sydney time) on any business day. Our commitment to you we will give you at least 14 days notice in writing if there are changes to the terms of drawing arrangements or if we cancel the drawing arrangements, we will keep the details of your nominated financial institution account confidential, except if it is necessary to provide your details to our bank for the purpose of conducting direct debits with your bank, where the due date is not a business day, we will draw from your nominated financial institution account on the business day before or after the due date in accordance with the terms and conditions of your MLC account. Your commitment to us It is your responsibility to: ensure your nominated financial institution account can accept direct debits, ensure there is sufficient money available in the nominated financial institution account to meet each drawing on the due date, advise us if the nominated financial institution account is transferred or closed, or the account details change. MLC requires a minimum of: 7 working days notice of change for banks and 21 days for Building Societies, arrange an alternate payment method acceptable to MLC if MLC cancels the drawing arrangements, ensure that all account holders on the nominated financial institution account sign the Schedule at question 12. Your rights You should contact us if you wish to alter the drawing arrangements. This includes: stopping an individual drawing, deferring a drawing, suspending future drawings, altering the Schedule, and cancelling the Schedule. Where you consider that a drawing has been initiated incorrectly, you should first contact the MLC Client Service Centre on Other information the details of your drawing arrangements are contained in the Schedule at question 12, MLC reserves the right to cancel drawing arrangements if drawings are dishonoured by your financial institution, if your drawing dishonours, your financial institution may charge you a fee. MLC does not currently charge for dishonours, but reserves the right to do so in the future, your drawing arrangements are also governed by the terms and conditions of your MLC account. MLC MASTERKEY INVESTMENT SERVICE CONTRACT The Service Contract governs the relationship, and sets out the rights, entitlements and obligations between you and MLC. The contract is binding on MLC and each investor. The Service Contract is available on mlc.com.au, or on request by contacting the MLC Client Service Centre on The contract includes details about: the obligation on us to perform our obligations under the Service contract honestly and with reasonable care and diligence, and to ensure our agents also do so, the limitation of our liability to you including where we act on an instruction that we reasonably believe to be from you or your authorised representative and where we act reasonably in relation to any instruction that contains an error or ambiguity, our liability to you being limited to the extent of fraud, wilful default or failure to act with reasonable care and diligence by us or our agents, our right of indemnity against you and your account to cover us for any expenses, losses or other liabilities incurred by us or our agents in the proper administration and management of your account, us not having an obligation to exercise any power attaching to an investment option in which you are invested, the obligation on us to hold your account and investments in trust for you, us taking reasonable steps to effect your instruction as soon as practicable, our duties and powers in relation to your account, the giving of instructions to us in relation to your account, our obligation to give you an annual audit report, annual investor statement and provide quarterly investor statements or continuous online reporting, our obligation to ensure that you receive a current Service Guide and PDS s for your investments, your right to receive communications, our right to charge fees and to vary those fees at any time after reasonable notice to you (not less than 30 days prior notice), our right to make and change from time to time the operating procedures relating to the Service, your right to terminate your participation in the Service subject to payment of outstanding fees and expenses, our right to temporarily suspend the Service after reasonable notice to you (not less than 30 days prior notice), our right to terminate the Service or your participation in the Service by giving you reasonable notice (not less than 30 days prior notice), how we may deal with your Service accounts upon termination, our ability to vary the Service Contract, the Service Guide, the Investment Menu or features of the Service without prior consultation with you. However we will notify you if we consider the change to be adverse to you, assignment of our rights and obligations, us keeping the interest (if any) on the financial institution accounts used to hold your money before it is invested for you or paid out to you. (eg your investments into the Service, income on your investments, and withdrawals from your account), our right to purchase investments for any client whose contributions are not yet cleared funds (including you), by using money already held in cash for you and other clients, the circumstances in which we may retain gains made on the sale of units purchased for you on credit where you do not provide adequate cleared funds for the purchase, and gains arising from transactions on your account carried out in error (subject to our obligations under the Service Contract to compensate you for losses arising from such errors). In addition, MLC is entitled to keep monies or unit s resulting from the roundings of aggregated trades and any distribution attributable to fractional units resulting from rounding. Page 11 of 12 MLC MasterKey Investment Service Application Form

33 How to contact us MLC Client Service Centre If you have any questions, please contact your financial adviser, or the MLC Client Service Centre on any business day between 8 am and 6 pm (Sydney time). Postal address MLC MasterKey Investment Service PO Box 200 North Sydney NSW 2059 Website For details on MLC s range of products and services visit mlc.com.au 69926M0209 Page 12 of 12 MLC MasterKey Investment Service Application Form

34 MLC Investments Investment Menu MLC MasterKey Investment Service and MLC MasterKey Investment Service Fundamentals Preparation date: 1 May 2009 Issued by: MLC Investments Limited ABN AFSL