As you know, the Colonial First State Wholesale Income Fund (the Fund) continues to be suspended.
To give you the option of making a switch, Colonial First State (Colonial) made a withdrawal period available in July/August 2009 for requests.
Colonial advised the total value of all requests received exceeded the value of cash available in the Fund. As a result, Colonial were only able to fulfill 8.35% of the value of all requests received.
However, due to the structure of MLC MasterKey's superannuation and pension products, we were able to satisfy more than 8.35% of the value of each request.
So you can work out how much of your request was fulfilled, approximate percentages for each product are provided below. We've also included additional information in case you have more questions.
| Products | Result |
|---|---|
| MLC MasterKey Superannuation products (PDF, 40.2KB) | 25.26% |
| MLC MasterKey Pension products (PDF, 40.2KB) | 15.31% |
| MLC MasterKey Investment Service (incl. Fundamentals) (PDF, 39.3KB) | 8.35% |
Switch requests were processed using the Fund's unit price as at 7 September 2009, being the day we received the funds from Colonial.
Note: As part of this switch offer, MLC MasterKey superannuation and pension clients who applied for the offer and had less than $1,000 invested in the Fund will have the full value of their holdings in the Fund switched into the alternative investment option(s) they've selected.
Colonial have advised they expect the next offer to be available in November 2009.
If you have any questions please speak with your financial adviser or call us on 132 652, weekdays between 8am and 6pm (AEST/AEDT).