OneAnswer changes and PDS reissue
Recently approved changes on the OneAnswer platform were designed to improve both the value and investment choice across the OneAnswer suite of products, while delivering on our commitment to offering an affordable and competitive master trust solution.
What’s changed?
- We lowered the fees on existing OnePath passive index funds across certain products within the OneAnswer Frontier and OneAnswer suite of products. Through OneAnswer Frontier, the existing OnePath index funds (diversified and sector specific) have had fees reduced for all funds (excluding Geared Australian Shares) down to an ongoing fee of 0.30% (excluding indirect costs). In OneAnswer, the OnePath passive index funds were reduced by an equivalent amount ie. If OnePath International Shares Index in OneAnswer Frontier reduces by 48bps (0.78% to 0.30%) the OneAnswer version was also reduced by 48bps. The new fees are effective from 20 September 2021 and reflected in the Product Disclosure Statements (PDS) reissue.
- The OnePath Global Listed Infrastructure Index fund was introduced on OneAnswer Frontier. The new option is issued by OnePath Funds Management with the index mandate managed by Invesco. The new option is priced at 0.30% Ongoing Fee and seeks to track the return of the FTSE Developed Core Infrastructure 50/50 Net Hedged to AUD index.
- The OnePath Diversified Fixed Interest Fund changed the underlying manager from PIMCO to OnePath Funds Management with a multi-manager strategy being adopted. The multi-manager approach allows us to use the same team and capabilities behind the successful IOOF MultiMix Diversified Fixed Interest Fund.
- The OnePath Diversified Credit fund changed the underlying manager from PIMCO to Janus Henderson.
OneAnswer PDS reissue
We reissued PDSs on 20 September 2021 for OneAnswer Frontier products to reflect the above and other regulatory and product changes.
For OneAnswer Frontier products, we’ll accept new application forms from PDSs dated 24 May 2021, where the signature is dated before 20 September 2021, until 5pm (AEST) on 11 October 2021. However, applications with outstanding items as at this date or allocations to closed investment options, will be returned.
After 11 October 2021, applications made on an outdated OneAnswer Frontier application form will not be processed.
For OneAnswer Investment Portfolio, under usual PDS reissue ‘grace period’ rules, we’ll accept applications from existing investors received on the application forms attached to the previous PDS for a short period after the 20 September 2021 reissue date.
For details on the OneAnswer PDS reissue click here.
Any Questions?
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