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Restrictions on withdrawals
The below text refers to information regarding 'Restrictions on withdrawals' located in the 'Investing in the Fund' section of the corresponding Fund's Product Disclosure Statement (PDS) and should be read in conjunction with the PDS and BT Investment Management (RE) Limited's Financial Services Guide (FSG).
The information contained in this document has been prepared without taking account of your objectives, financial situation or needs. Because of this you should, before acting on this information, consider its appropriateness having regard to your objectives, financial situation and needs.
You should read the appropriate Fund's PDS in full before deciding to invest, and speak to a financial adviser for advice.
- BT Conservative Outlook Fund, BT
Wholesale Future Goals Fund, BT Balanced Returns Fund, BT Wholesale Split
Growth Fund and BT Property Securities Fund
BT Conservative Outlook Fund, BT Wholesale Future Goals Fund, BT Balanced Returns Fund, BT Wholesale Split Growth Fund and BT Property Securities Fund
If the Fund is illiquid (as defined in the Corporations Act), withdrawals from the Fund will only be possible if we make a withdrawal offer in accordance with the Corporations Act. We are not obliged to make such an offer. However, you are only able to withdraw your investment in accordance with the terms of a current withdrawal offer. Under the Corporations Act, a trust is illiquid if it has less than 80% liquid assets (generally cash and marketable securities).
We may, with your consent, transfer Fund property to you in satisfaction of all or any part of the amount payable on the redemption of your units. - BT Global Return Fund
BT Global Return Fund
Under the Constitution, we may suspend withdrawal requests at any time for such period as we consider appropriate in the circumstances. We can only do so if we reasonably believe that we cannot accurately determine the current value of the Fund because there is a closure or restriction on trading in the relevant foreign exchange market or on any exchange on which assets may be traded, a moratorium has been declared in a country in which the Fund has assets, or if the realisation of assets cannot be effected at prices which would be obtained if the assets were realised in an orderly fashion over a reasonable period in a stable market.
Where we suspend withdrawal requests, then on the first business day after we lift the suspension, we must determine the exit price of all outstanding withdrawals and any withdrawal requests received by us during the suspension.
In any case, withdrawal requests must be processed within 12 months of our receipt of the request.
If the Fund is illiquid (as defined in the Corporations Act), withdrawals from the Fund will only be possible if we make a withdrawal offer in accordance with the Corporations Act. We are not obliged to make such an offer. However, you are only able to withdraw your investment in accordance with the terms of a current withdrawal offer. Under the Corporations Act, a trust is illiquid if it has less than 80% liquid assets (generally cash and marketable securities).
We may transfer assets to you rather than pay cash in satisfaction of all or any part of the amount payable on the redemption of your units or in payment of a distribution. The market value of the assets (together with any cash paid to you) must be of equal value to the total amount due to you pursuant to the withdrawal request. We may require you to pay for the costs involved in the transfer of the assets or we may deduct such costs from the amount payable to you. - BT Institutional Australian
Sustainability Fund
BT Institutional Australian Sustainability Fund
We may suspend the acceptance of application and withdrawal notices from time to time. This does not affect notices received before the suspension.
Where we receive a withdrawal request from a single unitholder on a single business day which relates to more than 5% of the number of units on issue, we may treat that request as 5 separate requests. Each of the 5 separate requests will be regarded as a request for a one-fifth portion of the total number of units in the original request. Additionally, each of the 5 separate requests will be taken to have been received on each of the 5 successive business days starting from the business day on which we received the original request.
Additionally, if, over 5 consecutive business days, we receive withdrawal requests in respect of a number of units that in total represents more than 10% of the number of units on issue, we may satisfy the request within 45 business days of when we received the withdrawal requests.
We normally accept a withdrawal request on the same business day that we receive it. This normally means the withdrawal request will receive the exit price applicable for that business day. However, we may suspend accepting applications for withdrawals. If we do so, the withdrawal request will receive the price that we determine immediately after we lift the suspension and accept the withdrawal request.
If the Fund is illiquid (as defined in the Corporations Act), withdrawals from the Fund will only be possible if we make a withdrawal offer in accordance with the Corporations Act. We are not obliged to make such an offer. However, you are only able to withdraw your investment in accordance with the terms of a current withdrawal offer. Under the Corporations Act, a trust is illiquid if it has less than 80% liquid assets (generally cash and marketable securities).
We may transfer assets to you rather than pay cash in satisfaction of the amount payable on the redemption of your units. The assets must be of equal value to the total amount due to you based on a valuation done within 1 month before the proposed transfer date. - BT Institutional Enhanced Cash
Fund
BT Institutional Enhanced Cash Fund
Under the Constitution we may suspend your right to withdraw if and for as long as we consider that it is not in the interests of members that investments of the Fund be sold to satisfy redemption requests or that investments of the Fund cannot be sold at an appropriate price or on adequate terms and it is inappropriate for the Fund to borrow money to satisfy the redemption requests. Where this occurs, we will, within a reasonable time, call a meeting of members to consider whether the Fund should be wound up or the withdrawal request should be permitted.
We may also suspend your right to withdraw if and for as long as the Fund is illiquid (as defined in the Corporations Act). Where this occurs, we will, within a reasonable time, call a meeting of members to consider whether the Fund should be wound up or whether we should make a withdrawal offer in accordance with the Corporations Act. We are not obliged to make such an offer. However, you will only be able to withdraw your investment in accordance with the terms of a current withdrawal offer. Under the Corporations Act, a trust is illiquid if it has less than 80% liquid assets (generally cash and marketable securities).
We may, upon your request, transfer assets to you rather than pay cash in satisfaction of the amount payable on the redemption of your units. We may only do this if we consider that the transfer of assets will not prejudice the interests of other members, all necessary approvals have been obtained and the value of the assets (together with any costs or taxes payable by us in respect of the transfer) equals the total amount due to you pursuant to the withdrawal request. - BT Institutional Enhanced Fixed
Interest Fund
BT Institutional Enhanced Fixed Interest Fund
Under the Constitution we may suspend your right to withdraw if and for as long as we consider that it is not in the interests of members that investments of the Fund be sold to satisfy redemption requests or that investments of the Fund cannot be sold at an appropriate price or on adequate terms and it is inappropriate for the Fund to borrow money to satisfy the redemption requests. Where this occurs, we will, within a reasonable time, call a meeting of members to consider whether the Fund should be wound up or the withdrawal request should be permitted.
We may also suspend your right to withdraw if and for as long as the Fund is illiquid (as defined in the Corporations Act). Where this occurs, we will, within a reasonable time, call a meeting of members to consider whether the Fund should be wound up or whether we should make a withdrawal offer in accordance with the Corporations Act. We are not obliged to make such an offer. However, you will only be able to withdraw your investment in accordance with the terms of a current withdrawal offer. Under the Corporations Act, a trust is illiquid if it has less than 80% liquid assets (generally cash and marketable securities).
We may, upon your request, transfer assets to you rather than pay cash in satisfaction of the amount payable on the redemption of your units. We may only do this if we consider that the transfer of assets will not prejudice the interests of other members, all necessary approvals have been obtained and the value of the assets (together with any costs or taxes payable by us in respect of the transfer) equals the total amount due to you pursuant to the withdrawal request. - BT Institutional Enhanced Global
Fixed Interest Fund
BT Institutional Enhanced Global Fixed Interest Fund
Under the Constitution we may suspend your right to withdraw if and for as long as we consider that it is not in the interests of members that investments of the Fund be sold to satisfy redemption requests or that investments of the Fund cannot be sold at an appropriate price or on adequate terms and it is inappropriate for the Fund to borrow money to satisfy the redemption requests. Where this occurs, we will, within a reasonable time, call a meeting of members to consider whether the Fund should be wound up or the withdrawal request should be permitted.
We may also suspend your right to withdraw if and for as long as the Fund is illiquid (as defined in the Corporations Act). Where this occurs, we will, within a reasonable time, call a meeting of members to consider whether the Fund should be wound up or whether we should make a withdrawal offer in accordance with the Corporations Act. We are not obliged to make such an offer. However, you will only be able to withdraw your investment in accordance with the terms of a current withdrawal offer. Under the Corporations Act, a trust is illiquid if it has less than 80% liquid assets (generally cash and marketable securities).
We may, upon your request, transfer assets to you rather than pay cash in satisfaction of the amount payable on the redemption of your units. We may only do this if we consider that the transfer of assets will not prejudice the interests of other members, all necessary approvals have been obtained and the value of the assets (together with any costs or taxes payable by us in respect of the transfer) equals the total amount due to you pursuant to the withdrawal request. - BT Institutional Managed Cash
Fund
BT Institutional Managed Cash Fund
Under the Constitution we may suspend your right to withdraw if and for as long as we consider that it is not in the interests of members that investments of the Fund be sold to satisfy redemption requests or that investments of the Fund cannot be sold at the appropriate price or on adequate terms and it is inappropriate for the Fund to borrow money to satisfy the redemption requests. Where this occurs, we will, within a reasonable time, call a meeting of members to consider whether the Fund should be wound up or the withdrawal request should be permitted.
We may also suspend your right to withdraw if and for as long as the Fund is illiquid (as defined in the Corporations Act). Where this occurs, we will, within a reasonable time, call a meeting of members to consider whether the Fund should be wound up or whether we should make a withdrawal offer in accordance with the Corporations Act. We are not obliged to make such an offer. However, you will only be able to withdraw your investment in accordance with the terms of a current withdrawal offer. Under the Corporations Act, a trust is illiquid if it has less than 80% liquid assets (generally cash and marketable securities).
We may, upon your request, transfer assets to you rather than pay cash in satisfaction of the amount payable on the redemption of your units and any relevant daily income entitlements in respect of those units. We may only do this if we consider that the transfer of assets will not prejudice the interests of other members, all necessary approvals have been obtained and the value of the assets (together with any costs or taxes payable by us in respect of the transfer) equals the total amount due to you pursuant to the withdrawal request. - BT Wholesale Active Balanced
Fund
BT Wholesale Active Balanced Fund
Under the Constitution, we may extend the period we take to process a withdrawal request from 14 days to a maximum of 30 days from when we receive the withdrawal request. However, we can only do this if we believe this is in the best interests of the unitholders of the Fund or where there has been a delay beyond our reasonable control in remitting to Australia the money necessary to effect such redemptions.
We may also postpone the calculation of the exit price by a maximum period of 30 days from when we receive the withdrawal request. However, we can only do this if we believe that the disposal of the investments cannot be effected without seriously prejudicing the interests of unitholders and where any stock exchange on which 5% or more (in value) of the Fund's investments are quoted is closed (other than for ordinary holidays), or where dealings in 5% or more (in value) of investments on any stock exchange are restricted or suspended.
If the Fund is illiquid (as defined in the Corporations Act), withdrawals from the Fund will only be possible if we make a withdrawal offer in accordance with the Corporations Act. We are not obliged to make such an offer. However, you are only able to withdraw your investment in accordance with the terms of a current withdrawal offer. Under the Corporations Act, a trust is illiquid if it has less than 80% liquid assets (generally cash and marketable securities).
We may transfer assets to you rather than pay cash in satisfaction of all or any part of the amount payable on the redemption of your units or in payment of a distribution. The market value of the assets (together with any cash paid to you) must be of equal value to the total amount due to you pursuant to the withdrawal request. We may require you to pay for the costs involved in the transfer of the assets or we may deduct such costs from the amount payable to you. - BT Wholesale Asian Share Fund, BT
Wholesale American Share Fund, BT Wholesale European Share Fund and BT
Wholesale International Share Fund
BT Wholesale Asian Share Fund, BT Wholesale American Share Fund, BT Wholesale European Share Fund and BT Wholesale International Share Fund
If the Fund is illiquid (as defined in the Corporations Act), withdrawals from the Fund will only be possible if we make a withdrawal offer in accordance with the Corporations Act. We are not obliged to make such an offer. However, you are only able to withdraw your investment in accordance with the terms of a current withdrawal offer. Under the Corporations Act, a trust is illiquid if it has less than 80% liquid assets (generally cash and marketable securities).
We may, with your consent, transfer Fund property to you in satisfaction of all or any part of the amount payable on the redemption of your units. - BT Wholesale Australian Share
Fund
BT Wholesale Australian Share Fund
If the Fund is illiquid (as defined in the Corporations Act), withdrawals from the Fund will only be possible if we make a withdrawal offer in accordance with the Corporations Act. We are not obliged to make such an offer. However, you are only able to withdraw your investment in accordance with the terms of a current withdrawal offer. Under the Corporations Act, a trust is illiquid if it has less than 80% liquid assets (generally cash and marketable securities). We may, with your consent, transfer Fund property to you in satisfaction of all or any part of the amount payable on the redemption of your units.
- BT Wholesale Core Australian Share
Fund
BT Wholesale Core Australian Share Fund
Under the Constitution, we may extend the period we take to process a withdrawal request from 14 days to a maximum of 30 days from when we receive the withdrawal request. However, we can only do this if we believe this is in the best interests of the unitholders of the Fund or where there has been a delay beyond our reasonable control in remitting to Australia the money necessary to effect such redemptions. We may also postpone the calculation of the exit price by a maximum period of 30 days from when we receive the withdrawal request. However, we can only do this if we believe that the disposal of the investments cannot be effected without seriously prejudicing the interests of unitholders and where any stock exchange on which 5% or more (in value) of the Fund's investments are quoted is closed (other than for ordinary holidays) or where dealings in 5% or more (in value) of investments on any stock exchange are restricted or suspended.
If the Fund is illiquid (as defined in the Corporations Act), withdrawals from the Fund will only be possible if we make a withdrawal offer in accordance with the Corporations Act. We are not obliged to make such an offer. However, you are only able to withdraw your investment in accordance with the terms of a current withdrawal offer. Under the Corporations Act, a trust is illiquid if it has less than 80% liquid assets (generally cash and marketable securities).
- BT Wholesale Core Global Share
Fund
BT Wholesale Core Global Share Fund
Under the Constitution, we may extend the period we take to process a withdrawal request from 14 days to a maximum of 30 days from when we receive the withdrawal request. However, we can only do this if we believe this is in the best interests of the unitholders of the Fund or where there has been a delay beyond our reasonable control in remitting to Australia the money necessary to effect such redemptions. We may also postpone the calculation of the exit price by a maximum period of 30 days from when we receive the withdrawal request. However, we can only do this if we believe that the disposal of the investments cannot be effected without seriously prejudicing the interests of unitholders and where any stock exchange on which 5% or more (in value) of the Fund's investments are quoted is closed (other than for ordinary holidays), or where dealings in 5% or more (in value) of investments on any stock exchange are restricted or suspended.
If the Fund is illiquid (as defined in the Corporations Act), withdrawals from the Fund will only be possible if we make a withdrawal offer in accordance with the Corporations Act. We are not obliged to make such an offer. However, you are only able to withdraw your investment in accordance with the terms of a current withdrawal offer. Under the Corporations Act, a trust is illiquid if it has less than 80% liquid assets (generally cash and marketable securities).
We may transfer assets to you rather than pay cash in satisfaction of all or any part of the amount payable on the redemption of your units or in payment of a distribution. The market value of the assets (together with any cash paid to you) must be of equal value to the total amount due to you pursuant to the withdrawal request. We may require you to pay for the costs involved in the transfer of the assets or we may deduct such costs from the amount payable to you. - BT Wholesale Core Hedged Global
Share Fund
BT Wholesale Core Hedged Global Share Fund
Under the Constitution, we may suspend withdrawal requests at any time for such period as we consider appropriate in the circumstances. We can only do so if we reasonably believe that we cannot accurately determine the current value of the Fund because there is a closure or restriction on trading in the relevant foreign exchange market or on any exchange on which assets may be traded, a moratorium has been declared in a country in which the Fund has assets, or if the realisation of assets cannot be effected at prices which would be obtained if the assets were realised in an orderly fashion over a reasonable period in a stable market.
Where we suspend withdrawal requests, then on the first business day after we lift the suspension, we must determine the exit price of all outstanding withdrawals and any withdrawal requests received by us during the suspension.
If the Fund is illiquid (as defined in the Corporations Act), withdrawals from the Fund will only be possible if we make a withdrawal offer in accordance with the Corporations Act. We are not obliged to make such an offer. However, you are only able to withdraw your investment in accordance with the terms of a current withdrawal offer. Under the Corporations Act, a trust is illiquid if it has less than 80% liquid assets (generally cash and marketable securities).
We may transfer assets to you rather than pay cash in satisfaction of all or any part of the amount payable on the redemption of your units or in payment of a distribution. The market value of the assets (together with any cash paid to you) must be of equal value to the total amount due to you pursuant to the withdrawal request. We may require you to pay for the costs involved in the transfer of the assets or we may deduct such costs from the amount payable to you. - BT Wholesale Enhanced Credit
Fund
BT Wholesale Enhanced Credit Fund
Under the Constitution, we may extend the period we take to process a withdrawal request from 14 days to a maximum of 30 days from when we receive the withdrawal request. However, we can only do this if we believe this is in the best interests of the unitholders of the Fund or where there has been a delay beyond our reasonable control in remitting to Australia the money necessary to effect such redemptions. We may also postpone the calculation of the exit price by a maximum period of 30 days from when we receive the withdrawal request. However, we can only do this if we believe that the disposal of the investments cannot be effected without seriously prejudicing the interests of unitholders and where any stock exchange on which 5% or more (in value) of the Fund's investments are quoted is closed (other than for ordinary holidays), or where dealings in 5% or more (in value) of investments on any stock exchange are restricted or suspended. Where we postpone the calculation of the exit price, we will determine the exit price on the earlier of the first business day after the cessation of the matters set out above or the business day immediately preceding the 30th day after our receipt of the withdrawal request.
If the Fund is illiquid (as defined in the Corporations Act), withdrawals from the Fund will only be possible if we make a withdrawal offer in accordance with the Corporations Act. We are not obliged to make such an offer. However, you are only able to withdraw your investment in accordance with the terms of a current withdrawal offer. Under the Corporations Act, a trust is illiquid if it has less than 80% liquid assets (generally cash and marketable securities).
We may transfer assets to you rather than pay cash in satisfaction of all or any part of the amount payable on the redemption of your units or in payment of a distribution. The market value of the assets (together with any cash paid to you) must be of equal value to the total amount due to you pursuant to the withdrawal request. We may require you to pay for the costs involved in the transfer of the assets or we may deduct such costs from the amount payable to you. - BT Wholesale Ethical Conservative
Fund
BT Wholesale Ethical Conservative Fund
Under the Constitution, we may extend the period we take to process a withdrawal request from 14 days to a maximum of 30 days from when we receive the withdrawal request. However, we can only do this if we believe this is in the best interests of the unitholders of the Fund or where there has been a delay beyond our reasonable control in remitting to Australia the money necessary to effect such redemptions.
We may also postpone the calculation of the exit price by a maximum period of 30 days from when we receive the withdrawal request. However, we can only do this if we believe that the disposal of the investments cannot be effected without seriously prejudicing the interests of unitholders and where any stock exchange on which 5% or more (in value) of the Fund's investments are quoted is closed (other than for ordinary holidays) or where dealings in 5% or more (in value) of investments on any stock exchange are restricted or suspended. Where we postpone the calculation of the exit price, we will determine the exit price on the earlier of the first business day after the cessation of the matters set out above or the business day immediately preceding the 30th day after our receipt of the withdrawal request.
If the Fund is illiquid (as defined in the Corporations Act), withdrawals from the Fund will only be possible if we make a withdrawal offer in accordance with the Corporations Act. We are not obliged to make such an offer. However, you are only able to withdraw your investment in accordance with the terms of a current withdrawal offer. Under the Corporations Act, a trust is illiquid if it has less than 80% liquid assets (generally cash and marketable securities). - BT Wholesale Ethical Share Fund
BT Wholesale Ethical Share Fund
Under the Constitution, we may suspend withdrawal requests at any time for such period as we consider appropriate in the circumstances. We can only do so if we reasonably believe that we cannot accurately determine the current value of the Fund because there is a closure or restriction on trading in the relevant foreign exchange market or on any exchange on which assets may be traded, a moratorium has been declared in a country in which the Fund has assets, or if the realisation of assets cannot be effected at prices which would be obtained if the assets were realised in an orderly fashion over a reasonable period in a stable market.
Where we suspend withdrawal requests, then on the first business day after we lift the suspension, we must determine the exit price of all outstanding withdrawals and any withdrawal requests received by us during the suspension.
If the Fund is illiquid (as defined in the Corporations Act), withdrawals from the Fund will only be possible if we make a withdrawal offer in accordance with the Corporations Act. We are not obliged to make such an offer. However, you are only able to withdraw your investment in accordance with the terms of a current withdrawal offer. Under the Corporations Act, a trust is illiquid if it has less than 80% liquid assets (generally cash and marketable securities).
We may transfer assets to you rather than pay cash in satisfaction of all or any part of the amount payable on the redemption of your units or in payment of a distribution. The market value of the assets (together with any cash paid to you) must be of equal value to the total amount due to you pursuant to the withdrawal request. We may require you to pay for the costs involved in the transfer of the assets or we may deduct such costs from the amount payable to you. - BT Wholesale Fixed Interest Share
Fund
BT Wholesale Fixed Interest Share Fund
Under the Constitution, we may extend the period we take to process a withdrawal request from 14 days to a maximum of 30 days from when we receive the withdrawal request. However, we can only do this if we believe this is in the best interests of the unitholders of the Fund or where there has been a delay beyond our reasonable control in remitting to Australia the money necessary to effect such redemptions. We may also postpone the calculation of the exit price by a maximum period of 30 days from when we receive the withdrawal request. However, we can only do this if we believe that the disposal of the investments cannot be effected without seriously prejudicing the interests of unitholders and where any stock exchange on which 5% or more (in value) of the Fund's investments are quoted is closed (other than for ordinary holidays), or where dealings in 5% or more (in value) of investments on any stock exchange are restricted or suspended.
If the Fund is illiquid (as defined in the Corporations Act), withdrawals from the Fund will only be possible if we make a withdrawal offer in accordance with the Corporations Act. We are not obliged to make such an offer. However, you are only able to withdraw your investment in accordance with the terms of a current withdrawal offer. Under the Corporations Act, a trust is illiquid if it has less than 80% liquid assets (generally cash and marketable securities).
We may transfer assets to you rather than pay cash in satisfaction of all or any part of the amount payable on the redemption of your units or in payment of a distribution. The market value of the assets (together with any cash paid to you) must be of equal value to the total amount due to you pursuant to the withdrawal request. We may require you to pay for the costs involved in the transfer of the assets or we may deduct such costs from the amount payable to you. - BT Wholesale Focus Australian Share
Fund
BT Wholesale Focus Australian Share Fund
Under the Constitution, where, despite having taken all reasonable steps to do so, we are unable to realise sufficient assets to meet a redemption request because of circumstances outside our control (including restricted or suspending trading in the market for an asset), or if we believe it is not in the best interests of unitholders to realise assets, we may extend the period we take to satisfy the withdrawal request by the number of days during which such circumstances apply.
We may also suspend withdrawal requests at any time for such period as we consider appropriate in the circumstances. If we do so, the period we take to satisfy your redemption request is extended by the period of the suspension. The exit price is to be determined as at the next time we value the Fund after the suspension is lifted. If the Fund is illiquid (as defined in the Corporations Act), withdrawals from the Fund will only be possible if we make a withdrawal offer in accordance with the Corporations Act. We are not obliged to make such an offer. However, you are only able to withdraw your investment in accordance with the terms of a current withdrawal offer. Under the Corporations Act, a trust is illiquid if it has less than 80% liquid assets (generally cash and marketable securities).
If we consider that the net asset value of the Fund has fallen by 5% or more after the exit price for a withdrawal request has been calculated (but before the unit has been redeemed), we may recalculate the exit price as at a valuation time determined by us. - BT Wholesale Geared Imputation
Fund
BT Wholesale Geared Imputation Fund
Under the Constitution, where, despite having taken all reasonable steps to do so, we are unable to realise sufficient assets to meet a redemption request because of circumstances outside our control (including restricted or suspending trading in the market for an asset), we may extend the period we take to satisfy the withdrawal request by the number of days during which such circumstances apply.
We may also suspend withdrawal requests at any time for such period as we consider appropriate in the circumstances. If we do so, the period we take to satisfy your redemption request is extended by the period of the suspension. The exit price is to be determined as at the Under the Constitution, where, despite having taken all reasonable steps to do so, we are unable to realise sufficient assets to meet a redemption request because of circumstances outside our control (including restricted or suspending trading in the market for an asset), we may extend the period we take to satisfy the withdrawal request by the number of days during which such circumstances apply. We may also suspend withdrawal requests at any time for such period as we consider appropriate in the circumstances. If we do so, the period we take to satisfy your redemption request is extended by the period of the suspension. The exit price is to be determined as at the next time we value the Fund after the suspension is lifted.
If the Fund is illiquid (as defined in the Corporations Act), withdrawals from the Fund will only be possible if we make a withdrawal offer in accordance with the Corporations Act. We are not obliged to make such an offer. However, you are only able to withdraw your investment in accordance with the terms of a current withdrawal offer. Under the Corporations Act, a trust is illiquid if it has less than 80% liquid assets (generally cash and marketable securities).
We may transfer assets to you rather than pay cash in satisfaction of all or any part of the amount payable on the redemption of your units or in payment of a distribution. The assets (together with any cash paid to you) must be of equal value to the total amount due to you based on a valuation done within 1 month before the proposed transfer date. We may require you to pay for the costs involved in the transfer of the assets or we may deduct such costs from the amount payable to you.
- BT Wholesale Global Fixed Interest
Fund
BT Wholesale Global Fixed Interest Fund
Under the Constitution, we may suspend withdrawal requests at any time for such period as we consider appropriate in the circumstances. We can only do so if we reasonably believe that we cannot accurately determine the current value of the Fund because there is a closure or restriction on trading in the relevant foreign exchange market or on any exchange on which assets may be traded, a moratorium has been declared in a country in which the Fund has assets, or if the realisation of assets cannot be effected at prices which would be obtained if the assets were realised in an orderly fashion over a reasonable period in a stable market.
Where we suspend withdrawal requests, then on the first business day after we lift the suspension, we must determine the exit price of all outstanding withdrawals and any withdrawal requests received by us during the suspension.
If the Fund is illiquid (as defined in the Corporations Act), withdrawals from the Fund will only be possible if we make a withdrawal offer in accordance with the Corporations Act. We are not obliged to make such an offer. However, you are only able to withdraw your investment in accordance with the terms of a current withdrawal offer. Under the Corporations Act, a trust is illiquid if it has less than 80% liquid assets (generally cash and marketable securities).
We may transfer assets to you rather than pay cash in satisfaction of all or any part of the amount payable on the redemption of your units or in payment of a distribution. The market value of the assets (together with any cash paid to you) must be of equal value to the total amount due to you pursuant to the withdrawal request. We may require you to pay for the costs involved in the transfer of the assets or we may deduct such costs from the amount payable to you. - BT Wholesale Global Property
Securities Fund
BT Wholesale Global Property Securities Fund
We may suspend redemptions at any time if we consider the suspension to be in the interests of unitholders.
Under the Constitution, where, despite having taken all reasonable steps to do so, we are unable to realise sufficient assets to meet a redemption request because of circumstances outside our control (including restricted or suspending trading in the market for an asset), we may extend the period we take to satisfy the withdrawal request by the number of days during which such circumstances apply.
We may transfer assets to you rather than pay cash in satisfaction of all or any part of the amount payable on the redemption of your units or in payment of a distribution. The assets (together with any cash paid to you) must be of equal value to the total amount due to you based on a valuation done within 1 month before the proposed transfer date. We may require you to pay for the costs involved in the transfer of the assets or we may deduct such costs from the amount payable to you. - BT Wholesale Imputation Fund
BT Wholesale Imputation Fund
Under the Constitution, we may suspend withdrawal requests at any time for such period as we consider appropriate in the circumstances. We can only do so if we reasonably believe that we cannot accurately determine the current value of the Fund because there is a closure or restriction on trading in the relevant foreign exchange market or on any exchange on which assets may be traded, a moratorium has been declared in a country in which the Fund has assets, or if the realisation of assets cannot be effected at prices which would be obtained if the assets were realised in an orderly fashion over a reasonable period in a stable market.
Where we suspend withdrawal requests, then on the first business day after we lift the suspension, we must determine the exit price of all outstanding withdrawals and any withdrawal requests received by us during the suspension.
If the Fund is illiquid (as defined in the Corporations Act), withdrawals from the Fund will only be possible if we make a withdrawal offer in accordance with the Corporations Act. We are not obliged to make such an offer. However, you are only able to withdraw your investment in accordance with the terms of a current withdrawal offer. Under the Corporations Act, a trust is illiquid if it has less than 80% liquid assets (generally cash and marketable securities).
- BT Wholesale Japanese Share
Fund
BT Wholesale Japanese Share Fund
If the Fund is illiquid (as defined in the Corporations Act), withdrawals from the Fund will only be possible if we make a withdrawal offer in accordance with the Corporations Act. We are not obliged to make such an offer. However, you are only able to withdraw your investment in accordance with the terms of a current withdrawal offer. Under the Corporations Act, a trust is illiquid if it has less than 80% liquid assets (generally cash and marketable securities).
If we receive large withdrawal requests from a single investor on a day, which in our view would be likely, in aggregate, to result in a withdrawal payment exceeding the specified limit (currently 5% of the value of the trust or the total value of units in that class - but we may change this) we can sell selected assets of the Fund that have a total value (as at the time the withdrawal request is received) equal to the withdrawal amount and pay the net proceeds of the sale instead of the withdrawal amount (even if those proceeds do not equal the withdrawal amount).
If we receive a large amount of withdrawal requests in a single day, greater than the specified limit (currently 10% of the value of the trust or the total value of units in that class - but we may change this), we may determine that a proportion of the withdrawal requests will not receive the exit price for that day and will be deemed to be received on the next business day. The specified limit will again be applied to that and subsequent business days (except that carried forward requests will receive priority over requests that have not already been carried forward) so that part of a withdrawal request may be carried forward in this way more than once.
We may transfer assets to you rather than pay cash in satisfaction of all or any part of the amount payable on the redemption of your units or in payment of a distribution. The market value of the assets (together with any cash paid to you) must be of equal value to the total amount due to you pursuant to the withdrawal request. We may require you to pay for the costs involved in the transfer of the assets or we may deduct such costs from the amount payable to you. - BT Wholesale MicroCap Opportunities
Fund
BT Wholesale MicroCap Opportunities Fund
Under the Constitution, where, despite having taken all reasonable steps to do so, we are unable to realise sufficient assets to meet a redemption request because of circumstances outside our control (including restricted or suspending trading in the market for an asset), or if we believe it is not in the best interests of unitholders to realise assets, we may extend the period we take to satisfy the withdrawal request by the number of days during which such circumstances apply.
We may also suspend withdrawal requests at any time for such period as we consider appropriate in the circumstances. If we do so, the period we take to satisfy your redemption request is extended by the period of the suspension. The exit price is to be determined as at the next time we value the Fund after the suspension is lifted. If the Fund is illiquid (as defined in the Corporations Act), withdrawals from the Fund will only be possible if we make a withdrawal offer in accordance with the Corporations Act. We are not obliged to make such an offer. However, you are only able to withdraw your investment in accordance with the terms of a current withdrawal offer. Under the Corporations Act, a trust is illiquid if it has less than 80% liquid assets (generally cash and marketable securities).
If we consider that the net asset value of the Fund has fallen by 5% or more after the exit price for a withdrawal request has been calculated (but before the unit has been redeemed), we may recalculate the exit price as at a valuation time determined by us. - BT Wholesale MidCap Fund
BT Wholesale MidCap Fund
Under the Constitution, we may extend the period we take to process a withdrawal request from 14 days to a maximum of 90 days from when we receive the withdrawal request. Where there has been a delay beyond our reasonable control in remitting to Australia the money necessary to effect such redemptions, longer periods may apply. We may also postpone the calculation of the exit price by a maximum period of 90 days from when we receive the withdrawal request. However, we can only do this if we believe that the disposal of the investments cannot be effected without seriously prejudicing the interests of unitholders and where any stock exchange on which 5% or more (in value) of the Fund's investments are quoted is closed (other than for ordinary holidays), or where dealings in 5% or more (in value) of investments on any stock exchange are restricted or suspended.
If the Fund is illiquid (as defined in the Corporations Act), withdrawals from the Fund will only be possible if we make a withdrawal offer in accordance with the Corporations Act. We are not obliged to make such an offer. However, you are only able to withdraw your investment in accordance with the terms of a current withdrawal offer. Under the Corporations Act, a trust is illiquid if it has less than 80% liquid assets (generally cash and marketable securities). - BT Wholesale Property Investment
Fund
BT Wholesale Property Investment Fund
Under the Constitution, we may extend the period we take to process a withdrawal request from 14 days to a maximum of 30 days from when we receive the withdrawal request. However, we can only do this if we believe this is in the best interests of the unitholders of the Fund or where there has been a delay beyond our reasonable control in remitting to Australia the money necessary to effect such redemptions. We may also postpone the calculation of the exit price by a maximum period of 30 days from when we receive the withdrawal request. However, we can only do this if we believe that the disposal of the investments cannot be effected without seriously prejudicing the interests of unitholders and where any stock exchange on which 5% or more (in value) of the Fund's investments are quoted is closed (other than for ordinary holidays) or where dealings in 5% or more (in value) of investments on any stock exchange are restricted or suspended.
If the Fund is illiquid (as defined in the Corporations Act), withdrawals from the Fund will only be possible if we make a withdrawal offer in accordance with the Corporations Act. We are not obliged to make such an offer. However, you are only able to withdraw your investment in accordance with the terms of a current withdrawal offer. Under the Corporations Act, a trust is illiquid if it has less than 80% liquid assets (generally cash and marketable securities).
We may transfer assets to you rather than pay cash in satisfaction of all or any part of the amount payable on the redemption of your units or in payment of a distribution. The market value of the assets (together with any cash paid to you) must be of equal value to the total amount due to you pursuant to the withdrawal request. We may require you to pay for the costs involved in the transfer of the assets or we may deduct such costs from the amount payable to you. - BT Wholesale Regular Income
Fund
BT Wholesale Regular Income Fund
Under the Constitution, where, despite having taken all reasonable steps to do so, we are unable to realise sufficient assets to meet a redemption request because of circumstances outside our control (including restricted or suspending trading in the market for an asset), or if we consider it not to be in the best interests of members to realise assets we may extend the period we take to satisfy the withdrawal request by the number of days during which such circumstances apply.
We may also suspend withdrawal requests at any time for such period as we consider appropriate in the circumstances. If we do so, the period we take to satisfy your redemption request is extended by the period of the suspension. The exit price is to be determined as at the next time we value the Fund after the suspension is lifted. If the Fund is illiquid (as defined in the Corporations Act), withdrawals from the Fund will only be possible if we make a withdrawal offer in accordance with the Corporations Act. We are not obliged to make such an offer. However, you are only able to withdraw your investment in accordance with the terms of a current withdrawal offer. Under the Corporations Act, a trust is illiquid if it has less than 80% liquid assets (generally cash and marketable securities).
If we receive a large amount of withdrawal requests in a single day, greater than the specified limit (currently 10% of the Fund's value - but we may change this), we may determine that a proportion of the withdrawal requests will not receive the exit price for that day and will be deemed to be received on the next business day. The specified limit will again be applied to that and subsequent business days so that part of a withdrawal request may be carried forward in this way more than once."
If we consider that the net asset value of the Fund has fallen by 5% or more after the exit price for a withdrawal request has been calculated (but before the unit has been redeemed), we may recalculate the exit price as at a valuation time determined by us. - BT Wholesale Smaller Companies
Fund
BT Wholesale Smaller Companies Fund
Under the Constitution, we may extend the period we take to process a withdrawal request from 14 days to a maximum of 30 days from when we receive the withdrawal request. However, we can only do this if we believe this is in the best interests of the unitholders of the Fund or where there has been a delay beyond our reasonable control in remitting to Australia the money necessary to effect such redemptions. We may also postpone the calculation of the exit price by a maximum period of 30 days from when we receive the withdrawal request. However, we can only do this if we believe that the disposal of the investments cannot be effected without seriously prejudicing the interests of unitholders and where any stock exchange on which 5% or more (in value) of the Fund's investments are quoted is closed (other than for ordinary holidays), or where dealings in 5% or more (in value) of investments on any stock exchange are restricted or suspended.
If the Fund is illiquid (as defined in the Corporations Act), withdrawals from the Fund will only be possible if we make a withdrawal offer in accordance with the Corporations Act. We are not obliged to make such an offer. However, you are only able to withdraw your investment in accordance with the terms of a current withdrawal offer. Under the Corporations Act, a trust is illiquid if it has less than 80% liquid assets (generally cash and marketable securities). - BT Wholesale Tax Effective Income
Fund
BT Wholesale Tax Effective Income Fund
Under the Constitution, we may suspend withdrawal requests at any time for such period as we consider appropriate in the circumstances. We can only do so if we reasonably believe that we cannot accurately determine the current value of the Fund because there is a closure or restriction on trading in the relevant foreign exchange market or on any exchange on which assets may be traded, a moratorium has been declared in a country in which the Fund has assets, or if the realisation of assets cannot be effected at prices which would be obtained if the assets were realised in an orderly fashion over a reasonable period in a stable market.
Where we suspend withdrawal requests, then on the first business day after we lift the suspension, we must determine the exit price of all outstanding withdrawals and any withdrawal requests received by us during the suspension.
If the Fund is illiquid (as defined in the Corporations Act), withdrawals from the Fund will only be possible if we make a withdrawal offer in accordance with the Corporations Act. We are not obliged to make such an offer. However, you are only able to withdraw your investment in accordance with the terms of a current withdrawal offer. Under the Corporations Act, a trust is illiquid if it has less than 80% liquid assets (generally cash and marketable securities).
We may transfer assets to you rather than pay cash in satisfaction of all or any part of the amount payable on the redemption of your units or in payment of a distribution. The market value of the assets (together with any cash paid to you) must be of equal value to the total amount due to you pursuant to the withdrawal request. We may require you to pay for the costs involved in the transfer of the assets or we may deduct such costs from the amount payable to you. - BT Wholesale Technology Fund
BT Wholesale Technology Fund
If the Fund is illiquid (as defined in the Corporations Act), withdrawals from the Fund will only be possible if we make a withdrawal offer in accordance with the Corporations Act. We are not obliged to make such an offer. However, you are only able to withdraw your investment in accordance with the terms of a current withdrawal offer. Under the Corporations Act, a trust is illiquid if it has less than 80% liquid assets (generally cash and marketable securities).
If we receive large withdrawal requests from a single investor on a day, which in our view would be likely, in aggregate, to result in a withdrawal payment exceeding the specified limit (currently 5% of the value of the trust or the total value of units in that class - but we may change this) we can sell selected assets of the Fund that have a total value (as at the time the withdrawal request is received) equal to the withdrawal amount and pay the net proceeds of the sale instead of the withdrawal amount (even if those proceeds do not equal the withdrawal amount).
If we receive a large amount of withdrawal requests in a single day, greater than the specified limit (currently 10% of the value of the trust or the total value of units in that class - but we may change this), we may determine that a proportion of the withdrawal requests will not receive the exit price for that day and will be deemed to be received on the next business day. The specified limit will again be applied to that and subsequent business days (except that carried forward requests will receive priority over requests that have not already been carried forward) so that part of a withdrawal request may be carried forward in this way more than once.
We may transfer assets to you rather than pay cash in satisfaction of all or any part of the amount payable on the redemption of your units or in payment of a distribution. The market value of the assets (together with any cash paid to you) must be of equal value to the total amount due to you pursuant to the withdrawal request. We may require you to pay for the costs involved in the transfer of the assets or we may deduct such costs from the amount payable to you. - BT Wholesale Value Global Share
Fund
BT Wholesale Value Global Share Fund
Under the Constitution, we may suspend withdrawal requests at any time for such period as we consider appropriate in the circumstances. We can only do so if we reasonably believe that we cannot accurately determine the current value of the Fund because there is a closure or restriction on trading in the relevant foreign exchange market or on any exchange on which assets may be traded, a moratorium has been declared in a country in which the Fund has assets, or if the realisation of assets cannot be effected at prices which would be obtained if the assets were realised in an orderly fashion over a reasonable period in a stable market.
Where we suspend withdrawal requests, then on the first business day after we lift the suspension, we must determine the exit price of all outstanding withdrawals and any withdrawal requests received by us during the suspension.
If the Fund is illiquid (as defined in the Corporations Act), withdrawals from the Fund will only be possible if we make a withdrawal offer in accordance with the Corporations Act. We are not obliged to make such an offer. However, you are only able to withdraw your investment in accordance with the terms of a current withdrawal offer. Under the Corporations Act, a trust is illiquid if it has less than 80% liquid assets (generally cash and marketable securities).
We may transfer assets to you rather than pay cash in satisfaction of all or any part of the amount payable on the redemption of your units or in payment of a distribution. The market value of the assets (together with any cash paid to you) must be of equal value to the total amount due to you pursuant to the withdrawal request. We may require you to pay for the costs involved in the transfer of the assets or we may deduct such costs from the amount payable to you.