Investment, Insurance, Superannuation
We’re making some important changes to the ANZ Cash Advantage investment fund (the Fund) in the following products:
Introduction of a fee - We’ll introduce a 0.30% p.a. (net of GST) ‘Ongoing Fee’. This fee will cover underlying costs and support the ongoing sustainability of the Fund. The fee will be deducted from the investment return rate.
All other fees and costs remain the same.
Ongoing Fee rebate - We're pleased to advise that ANZ Cash Advantage balances will now be included in the calculation of your OneAnswer Frontier clients’ total account balance for the 0.10% p.a. Ongoing Fee rebate applying to balances over $300,000. This change only applies to the Frontier Personal Super and Pension, Frontier Transition to Retirement Pension and OneAnswer Frontier Investment Portfolio products.
Increased investment return - In November 2023, the Australia and New Zealand Banking Group Limited (ABN 11 005 357 522) (ANZ) provided a 0.10% p.a. improvement to the interest rate for this option. A further improvement was provided in December 2023 with an increase of 0.25% p.a. in line with the interest rate rise by the RBA in November 2023. We’ll continue to work with ANZ to meet the investment objective.
Note that interest rates are subject to change. You and your clients can obtain current interest rates at any time at onepathsuperinvest.com.au> Performance & updates > Current interest rates or by calling Customer Services.
Investment objective - To give more certainty and clarity to investors and members, the investment objective was updated in December 2023, to target a return after Ongoing Fees are deducted:
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The fund aims to provide investors with a high level of capital security while achieving returns in line with cash management accounts by investing in ANZ bank deposits.
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The fund aims to provide investors with a high level of capital security while achieving returns generally in line with the Reserve Bank of Australia Cash Rate Target (after fees and before tax) by investing in bank deposits. |
The investment strategy of investing in a portfolio of cash held with ANZ remains the same.
We will write to all clients holding an account in the above listed products to let them know about these changes.
Super and pension members will be notified via the 'Important information and updates’ accompanying their 2023-24 annual statements from mid-August 2024:
Investors in OneAnswer Investment Portfolio (including Frontier and //Select) and ANZ OneAnswer Investment Portfolio (including //Select) will receive their notification with their 30 June 2024 quarterly statement insert:
Current Product Disclosure Statements disclose a payment may be made by ANZ to a related party of OnePath Custodians Pty Limited/OnePath Funds Management Limited of up to 0.28% p.a. (plus any applicable GST) of the amounts held in the ANZ Cash Advantage investment fund invested with ANZ. The communication to clients also states that these are expected to cease from 1 December 2024.
If you have any questions or would like further information, please:
Important: This information is intended for financial advisers only and is not to be distributed to clients.
OnePath Funds Management Limited (ABN 21 003 002 800, AFSL 238342) (OPFM) is the issuer of OneAnswer Investment Portfolio (including Frontier and //Select) and ANZ OneAnswer Investment Portfolio (including //Select) and OnePath Custodians Pty Limited (ABN 12 008 508 496, AFSL 238346, RSE L0000673) (OPC) is the trustee of the Retirement Portfolio Service (ABN 61 808 189 263) (RPS) and issuer of OneAnswer Frontier Personal Super and Pension, OneAnswer Term Allocated Pension (including //Select) and ANZ OneAnswer Term Allocated Pension (including //Select), which are part of the RPS.
OPFM and OPC are members of the Insignia Financial group of companies, comprising Insignia Financial Ltd (ABN 49 100 103 722) and its related bodies corporate.
This information has been prepared without taking into account your clients’ objectives, financial situation or needs.
Before clients make a decision based on this information, they should consider the appropriateness of the information, having regard to their objectives, financial situation and needs. Your clients should obtain a Product Disclosure Statement (PDS) relating to the financial product mentioned in this communication and consider it before making any decision about whether to acquire or continue to hold the product. Target Market Determinations (TMDs) where required for relevant products have to be available for consideration by distributors/investors/members.
A copy of the PDS (or other disclosure documents) and TMD are available by searching for the applicable product at onepathsuperinvest.com.au/forms-and-brochures or anz.com or upon request by phoning 133 665.