Challenger Howard Mortgages Fund

The OneAnswer Challenger Howard Mortgage Fund was terminated on 27 November 2014 following the termination of the Howard Wholesale Mortgage Fund, the underlying investment of the OneAnswer fund, by Fidante Partners Limited (the responsible entity).

For Investment Portfolio investors capital was returned via a deposit into the investor’s nominated bank account or by cheque. A withdrawal confirmation was sent to investors.

For superannuation members, capital proceeds were switched into a Trustee-determined replacement fund unless members provided alternative instructions previously.

September 2014 - Termination of OneAnswer Challenger Howard Mortgage Fund

We are pleased to advise we will shortly be in a position to terminate the OneAnswer Challenger Howard Mortgage Fund and return the remaining capital to investors. This follows a suspension period of approximately 6 years. We have been returning capital from the OneAnswer Challenger Howard Fund to investors on a pro rata basis each quarter since early 2011. During this time we have returned more than 90% of capital.

Recently we were advised by Fidante Partners Limited that they will be terminating the Howard Wholesale Mortgage Fund, which is the underlying investment of the OneAnswer fund. The termination of their fund allows us to terminate the OneAnswer fund. Their termination follows the sale of the remaining mortgages in their portfolio.

Please refer to the ‘Return of capital’ tab for details.

July 2014 – return of capital for June 2014 quarter

Please refer to the ‘Return of capital’ tab for details on payments for the June 2014 quarter.

Change to distribution frequency

For more information please click here.

April 2014 – return of capital for March 2014 quarter

Please refer to the ‘Archive’ tab for details on payments for the March 2014 quarter.

January 2014 – return of capital for December 2013 quarter

Please refer to the ‘Archive’ tab for details on payments for the December 2013 quarter.

December 2013 – Details of upcoming December 2013 quarterly payment

We will confirm payments (if applicable) during January 2014. Please refer to the ‘Archive’ tab for details on payments for the September 2013 quarter.

October 2013 – return of capital for September 2013 quarter

Please refer to the ‘Archive’ tab for details on payments for the September 2013 quarter.

Details of upcoming September 2013 quarterly payment

During October 2013 we expect to return a portion of capital invested in the Challenger Howard Mortgages fund.
Further details will be available in the next update.

July 2013 – return of capital for June 2013 quarter

Please refer to the ‘Archive’ tab for details on payments for the June 2013 quarter.

April 2013 – return of capital for March 2013 quarter

Please refer to the ‘Archive’ tab for details on payments for the March 2013 quarter.

January 2013 – special distribution for December 2012 quarter

Challenger released available capital to us during January 2013. We have been able to pass this on to OneAnswer clients during January and February 2013. Please refer to the ‘Archive’ tab for further information.

December 2012 – return of capital for December 2012 quarter

We are expecting to receive capital from the Challenger Howard Mortgage Fund during early January 2013 but have not yet received confirmation of the amount.

October 2012 - Update on September 2012 quarterly payments

Challenger has released available capital to us in the week commencing 8 October 2012. We have been able to pass this on to OneAnswer clients in the second half of October 2012. Please refer to the ‘Archive’ tab for further information.

July 2012 – return of capital for June 2012 quarter

Please refer to the ‘Archive’ tab for details on payments for the June 2012 quarter.

April 2012 – return of capital for March 2012 quarter

Please refer to the ‘Archive’ tab for details on payments for the March 2012 quarter.

January 2012 – return of capital for December 2011 quarter

September 2011 quarterly payments are currently being processed. Please refer to ‘Archive’ tab for payout details for the funds.

October 2011 - return of capital for September 2011 quarter

The underlying fund into which the OneAnswer Challenger Howard Mortgages fund invests released approximately 25% of its funds under management during October 2011. This has now been passed on via a pro rata payment to all OneAnswer investors.
Please refer to ‘Archive’ tab for details of the capital payments.

July 2011 - return of capital for June 2011 quarter

June 2011 quarter payments have now been processed. Please refer to ‘Archive’ tab for details on payout percentages for the funds.

April 2011 - return of capital for March 2011 quarter

OneAnswer Investment Portfolio and OneAnswer Personal Super and Pension payments have now been processed. Please refer to the ‘Archive’ tab for details of payout percentages.

January 2011 - return of capital to investors

Effective January 2011, we have changed the way in which we return capital to investors in the fund. Please see the 'Archive' tab for further information.

There will not be a return of capital for the September 2014 quarter as we were recently advised by Fidante Partners Limited that they will be terminating the Howard Wholesale Mortgage Fund, which is the underlying investment of the OneAnswer fund. Their termination follows the sale of the remaining mortgages in their portfolio.

During November 2014, we expect to return the remaining capital to current investors.

OneAnswer Investment Portfolio and other retail trusts

Prior to the final return of capital payment a special income distribution may be processed to ensure all income is passed on to investors. The distribution will include earnings from interest bearing investments held by the Trust from the date of receipt of proceeds from Fidante up until the final return of capital is anticipated to be made.

Effective January 2011, we will be returning capital to investors in the Fund rather then opening withdrawal windows.

Challenger has indicated they will release liquidity on a quarterly basis going forward, although this is at their discretion. When further liquidity is released we will pass the proceeds onto you as a return of capital. This means that you are no longer required to submit withdrawal requests and we will not be opening any further withdrawal offers.

At this stage the Fund will remain suspended and over time capital will be returned.

OneAnswer Investment Portfolio and other retail trusts

Payments were processed as part of the normal quarterly distribution process early July 2014.
The amount returned was 0.20355 cents per unit. This equates to approximately 18% of the fund balance.

OneAnswer Personal Super and Pension

Payments are processed as a switch into ANZ Cash Advantage (previously known as the ANZ Flexible Term Deposit Plus) or to an alternative investment fund for clients who have nominated one.

Details of payments are outlined in the following table:

Once received, clients are free to switch the proceeds to an alternative fund(s) of their choice or withdraw (subject to preservation rules and exit fees if they are within an exit fee period).

Mailing of clients’ switch confirmations are due to occur during August 2014.

OneAnswer Investment Portfolio and other retail trusts

Payments were processed as part of the normal quarterly distribution process early April 2014.
The amount returned was 0.1760 cents per unit. This equates to approximately 16% of the fund
balance.

OneAnswer Personal Super and Pension

Payments are processed as a switch into ANZ Cash Advantage (previously known as the ANZ
Flexible Term Deposit Plus) or to an alternative investment fund for clients who have nominated
one.

Details of payments are outlined in the following table:

Once received, clients are free to switch the proceeds to an alternative fund(s) of their choice or
withdraw (subject to preservation rules and exit fees if they are within an exit fee period).

Mailing of clients’ switch confirmations are due to occur during May 2014.

OneAnswer Investment Portfolio and other retail trusts

Payments were processed as part of the normal quarterly distribution process early January 2014.

The amount returned was 0.5270 cents per unit. This equates to approximately 29% of the fund balance.

OneAnswer Personal Super and Pension

Payments are processed as a switch into ANZ Cash Advantage (previously known as the ANZ Flexible Term Deposit Plus) or to an alternative investment fund for clients who have nominated one.

Details of payments are outlined in the following table:

Once received, clients are free to switch the proceeds to an alternative fund(s) of their choice or withdraw (subject to preservation rules and exit fees if they are within an exit fee period).

Mailing of clients’ switch confirmations are due to occur during February 2014.

OneAnswer Investment Portfolio and other retail trusts

Payments were processed as part of the normal quarterly distribution process early October 2013.

The amount returned was 0.52722 cents per unit. This equates to approximately 22% of the fund balance.

OneAnswer Personal Super and Pension

Payments are processed as a switch into ANZ Cash Advantage (previously known as the ANZ Flexible Term Deposit Plus) or to an alternative investment fund for clients who have nominated one.

Details of payments are outlined in the following table:

Once received, clients are free to switch the proceeds to an alternative fund(s) of their choice or withdraw (subject to preservation rules and exit fees if they are within an exit fee period).

Mailing of clients’ switch confirmations are due to occur during November 2013.

OneAnswer Investment Portfolio and other retail trusts

Payments were processed as part of the normal quarterly distribution process early July 2013.

The amount returned was 0.53836 cents per unit. This equates to approximately 15% of the fund balance.

OneAnswer Personal Super and Pension

Payments are processed as a switch into ANZ Cash Advantage (previously known as the ANZ Flexible Term Deposit Plus) or to an alternative investment fund for clients who have nominated one.

Details of payments are outlined in the following table:

Once received, clients are free to switch the proceeds to an alternative fund(s) of their choice or withdraw (subject to preservation rules and exit fees if they are within an exit fee period).

Mailing of clients’ switch confirmations are due to occur during August 2013.

OneAnswer Investment Portfolio and other retail trusts

Payments were processed as part of the normal quarterly distribution process on approximately 10 April 2013.

The amount returned was 1.14 cents per unit. This equates to approximately 28% of the fund balance.

OneAnswer Personal Super and Pension

Payments are processed as a switch into ANZ Cash Advantage (previously known as the ANZ Flexible Term Deposit Plus) or to an alternative investment fund for clients who have nominated one.

Details of payments are outlined in the following table:

Once received, clients are free to switch the proceeds to an alternative fund(s) of their choice or withdraw (subject to preservation rules and exit fees if they are within an exit fee period).

Mailing of clients’ switch confirmations are due to occur from the end of May to late June 2013.

OneAnswer Investment Portfolio and other retail trusts

Payments were processed on 11 January 2013.

The amount returned was 0.35222 cents per unit. This equates to approximately 8% of the fund balance.

OneAnswer Personal Super and Pension

Payments are processed as a switch into ANZ Cash Advantage (previously known as the ANZ Flexible Term Deposit Plus) or to an alternative investment fund for clients who have nominated one.

Details of payments are outlined in the following table:

Once received, clients are free to switch the proceeds to an alternative fund(s) of their choice or withdraw (subject to preservation rules and exit fees if they are within an exit fee period).

Mailing of clients’ switch confirmations are due to occur during February and March 2013.

We have not been advised of the amount to be paid, however we expect it to be approximately 10% of client balances.

Details of when payments will be processed are outlined below:

Investment Portfolio and other retail trusts

We expect clients to receive these monies into their bank accounts (or by cheque) in early January 2013.

Personal Super and Pension

We expect to have processing completed in the week commencing 21 January 2013. These monies will be switched into one of the cash investment funds (unless an alternate fund has been nominated).

More information:

Our website will be updated in late January 2013 to confirm the exact amounts and processing times.

OneAnswer Investment Portfolio and other retail trusts

Payments were processed as part of the normal quarterly distribution process on approximately 15 October 2012.

The amount returned was 2.66 cents per unit. This equates to approximately 37% of the fund balance.

OneAnswer Personal Super and Pension

Payments are processed as a switch into ANZ Cash Advantage (previously known as the ANZ Flexible Term Deposit Plus) or to an alternative investment fund for clients who have nominated one.

Details of payments are outlined in the following table:

Once received, clients are free to switch the proceeds to an alternative fund(s) of their choice or withdraw (subject to preservation rules and exit fees if they are within an exit fee period).

Mailing of clients’ switch confirmations are due to occur from the end of October to late November 2012.

We expect it to be approximately 37-40% of client balances.

Details of when payments will be processed are outlined below:

Investment Portfolio and other retail trusts

We expect clients to receive these monies into their bank accounts (or by cheque) the week commencing Monday 15 October 2012.

Personal Super and Pension

We expect to have processing completed the week commencing 22 October 2012. These monies will be switched into one of the cash investment funds (unless an alternate fund has been nominated).

Our website will be updated in late October 2012 to confirm the exact amounts and processing times.
 

OneAnswer Investment Portfolio and other retail trusts

Payments were processed as part of the normal quarterly distribution process on approximately 19-20 July 2012.

The amount returned was 3.88 cents per unit. This equates to approximately 35% of the fund balance.

OneAnswer Personal Super and Pension

Payments are processed as a switch into ANZ Cash Advantage (previously known as the ANZ Flexible Term Deposit Plus) or to an alternative investment fund for clients who have nominated one.

Details of payments are outlined in the following table

Once received, clients are free to switch the proceeds to an alternative fund(s) of their choice or withdraw (subject to preservation rules and exit fees if they are within an exit fee period).

Mailing of clients’ switch confirmations are due to occur from the end of July to late August 2012.

We have not been advised of the amount to be paid, however we expect it to be approximately 35-40% of client balances.

Details of when payments will be processed are outlined below:

Investment Portfolio and other retail trusts

We expect clients to receive these monies into their bank accounts (or by cheque) the week commencing Monday 16 July 2012.

Personal Super and Pension

We expect to have processing completed the week commencing 23 July 2012. These monies will be switched into one of the cash investment funds (unless an alternate fund has been nominated).

More information:

Our website will be updated in late July 2012 to confirm the exact amounts and processing times.

OneAnswer Investment Portfolio and other retail trusts

Payments were processed as part of the normal quarterly distribution process on approximately 13 April 2012.

The amount returned was 5.32 cents per unit. This equates to approximately 32% of the fund balance.

OneAnswer Personal Super and Pension

Payments are processed as a switch into ANZ Cash Advantage* (previously known as the ANZ Flexible Term Deposit Plus) or to an alternative investment fund for clients who have nominated one.

Details of payments are outlined in the following table:

OneAnswer Investment Portfolio and other retail trusts
Payments were processed as part of the normal quarterly distribution process on approximately 12-13 January 2012. Investors will see the amount in their bank account on approximately 16 January.

The amount returned was 6.99cents per unit. This equates to approximately 30% of the fund balance.

Clients will receive a quarterly transaction statement in late January 2012 that will reflect the payment.

OneAnswer Personal Super and Pension
Payments will be processed as a switch into ANZ Cash Advantage* (previously ANZ Flexible Term Deposit Plus) or to an alternative investment fund for clients who have nominated one. This is due to occur from 24 January 2012.

Payment amounts will be approximately 26.6% of the balance in the fund for Personal Super clients and approximately 27.6% for Pension clients. Clients are free to switch the proceeds to an alternative fund(s) of their choice or withdraw (subject to preservation rules and exit fees if they are within an exit fee period).

A switch confirmation will be mailed to clients in February.

OneAnswer Investment Portfolio and other retail trusts

Payments were processed as part of the normal quarterly distribution process on approximately 14 October 2011. Investors will see the amount in their bank account on approximately 18 October.

The amount returned was 7.61082 cents per unit. This equates to approximately 25% of the fund balance.

Clients will receive a quarterly transaction statement in late October 2011 that will reflect the payment.

Personal Super and Pension

Payments have now been processed as a switch into ANZ Cash Advantage* (previously known as the ANZ Flexible Term Deposit Plus) or to an alternative investment fund for clients who have nominated one. Payment amounts were 25.5% of the balance in the fund for Personal Super clients and 26.4% for Pension clients. Clients are free to switch the proceeds to an alternative fund(s) of their choice or withdraw (subject to preservation rules and exit fees if they are within an exit fee period).

 A switch confirmation will be mailed to clients in November.

During July 2011, we released a portion of liquidity to investors in the Challenger Howard Mortgages fund.

Further details on payments for OneAnswer Investment Portfolio, Personal Super and Pension clients are outlined below:

OneAnswer Investment Portfolio

In July 2011, we returned a portion of capital to investors in the Challenger Howard Mortgages fund. Approximately 20% of clients' balances were paid equating to 8.6 cents per unit. The return of capital for Investment Portfolio clients was processed with their monthly income distribution payment between 19 and 21 July 2011.

OneAnswer Personal Super and Pension

For Personal Super and Pension clients, payments were processed as a switch into the ANZ Flexible Term Deposit Plus fund^* or to an alternative investment fund if they have nominated one. Clients are then free to switch the proceeds to an alternate fund(s) of their choice or withdraw (subject to preservation rules and exit fees if they are within an exit fee period).

The switches were processed in early August. A switch confirmation was mailed to clients shortly after. Unit balances in the Challenger Howard Mortgages fund reduced after the switch processing. Unit prices are not affected.

OneAnswer Investment Portfolio

In April 2011, we returned a portion of capital to investors in the Challenger Howard Mortgages fund. Approximately 20% of clients' balances were paid equating to 9.94 cents per unit. The return of capital for Investment Portfolio clients was processed with their monthly income distribution payment between 19 and 21 April 2011.

OneAnswer Personal Super and Pension

For Personal Super and Pension clients, payments were processed as a switch into the ANZ Flexible Term Deposit Plus fund* or to an alternative investment fund if they have nominated one. Clients are then free to switch the proceeds to an alternate fund(s) of their choice or withdraw (subject to preservation rules and exit fees if they are within an exit fee period).

The switches were processed in early May. A switch confirmation was mailed to clients shortly after. Unit balances in the Challenger Howard Mortgages fund reduced after the switch processing. Unit prices are not affected.

During January 2011, we returned a portion of capital to investors in the Challenger Howard Mortgages fund. Approximately 50% of clients' balances were paid.

This follows the receipt of liquidity in mid December 2010 from the wholesale fund into which OneAnswer invests. 

We communicated via a letter to all investors in the fund during the week of 17 January to inform them of the upcoming payment. Further details on payments for OneAnswer Investment Portfolio and Personal Super and Pension clients are outlined below:

OneAnswer Investment Portfolio
The return of capital for Investment Portfolio clients was processed with their monthly income distribution payment between 17 and 19 January 2011.

OneAnswer Personal Super and Pension
For OneAnswer Personal Super and Pension clients, payments were processed as a switch into the ANZ Flexible Term Deposit Plus fund.* Clients are free to switch the proceeds to an alternate fund(s) of their choice or withdraw (subject to preservation rules and exit fees if they are within an exit fee period). There are no entry fees or transaction costs applicable to ANZ Flexible Term Deposit Plus. Payments were made in early February.

For further information on the ANZ Flexible Term Deposit Plus fund please refer to the current Product Disclosure Statement.

You may also wish to speak to your financial adviser regarding this payment.

*For Term Allocated Pension clients, the payment will be made to the OnePath Cash fund.