Product Updates

Wholesale Plus Fund Indirect Costs

Effective from 1 July 2017, indirect costs (including any expense recoveries) relating to an Underlying Fund into which a Wholesale Plus Fund invests (where applicable), will be reflected in the value of the investment in the Underlying Fund, and in turn reflected in the unit price for the relevant Wholesale Plus Fund. This is in accordance with prior and current disclosure in Product Disclosure Statements for the Wholesale Plus Funds. Going forward, any indirect costs relating to the Underlying Funds will be disclosed as a separate category of costs in the relevant Product Disclosure Statements for the Wholesale Plus Funds dated 1 July 2017.

Change to currency hedging for the T. Rowe Price Wholesale Plus Global Equity Fund

Effective from the 16th of April 2016, the foreign currency exposure may be hedged up to 10% of the Underlying Fund for T. Rowe Price Global Equity Fund (APIR: BTA0538AU). The hedges will not be made against the Australian dollar but rather will generally be made against the US dollar. The portfolio manager of the Underlying Fund does not anticipate hedging to be a permanent feature of the Underlying Fund nor view currency as a primary source of generating returns.

Change to the responsible entity for the Underlying Fund of the RARE Infrastructure Wholesale Plus Value Fund – Hedged and the RARE Infrastructure Wholesale Plus Value Fund – Unhedged

Effective from the 30th of November 2016, the responsible entity of the Underlying Fund for the RARE Infrastructure Wholesale Plus Value Fund – Hedged (APIR: BTA0543AU) and the RARE Infrastructure Wholesale Plus Value Fund – Unhedged (APIR: BTA0546AU) has changed from Treasury Group Investment Services Limited (ABN 38 099 932 920 AFSL 227326) to Legg Mason Asset Management Australia Limited (ABN 76 004 835 849 AFSL 240827).

Change to the responsible entity for the Underlying Fund for the PIMCO Wholesale Plus Diversified Fixed Interest Fund and the PIMCO Wholesale Plus Global Bond Fund

Effective from 1st of March 2017, the responsible entity for the Underlying Fund for the PIMCO Wholesale Plus Diversified Fixed Interest Fund (APIR: BTA0499AU) and the PIMCO Wholesale Plus Global Bond Fund (APIR: BTA0498AU) has changed from Equity Trustees Limited (ABN 46 004 031 298 AFSL 240975) to PIMCO Australia Management Limited (ABN 37 611 709 507 AFSL 487505).

Name change to the Underlying Fund for the NAM-Tyndall Wholesale Plus Australian Share Fund

Effective from the 31st of January 2017, the Underlying Fund for the NAM-Tyndall Wholesale Plus Australian Share Fund (APIR BTA0537AU ARSN 602 109 231) has changed its name from Nikko AM-Tyndall Australian Share Fund to Nikko AM Australian Share Fund.

Change in management fee for the Man AHL Wholesale Plus Alpha AUD

Effective from the 1 July 2015, the management fee for the Man AHL Wholesale Plus Alpha AUD (Fund) will be lowered to 1.30% p.a. of the NAV of the Fund. Accordingly section 7.2 (Example of annual fees and cost of the Fund) of the Product Disclosure Statement for the Man AHL Wholesale Plus Alpha AUD is updated as follows:
This table gives an example of how the fees and costs of the Fund can affect your investment over a one-year period. You should use this table to compare this product with other managed investment products.

Example – Man AHL Wholesale Balance of $50,0001 with a contribution
Plus Alpha (AUD) of $5,0001 during year

Contributions fees	$0	For every additional $5,000 you put in, you will be charged $0.
PLUS Management fees + estimated Performance fee²	1.30% + 1.08%²	And, for every $50,000 you have in the Fund you will be charged $1,190 each year.
EQUALS Cost of Fund		If you had an investment of $50,000 at the beginning of the year and put in an additional $5,000 during that year you would be charged fees of: $1,190³ What it costs you will depend on the fees you negotiate.

This amount is prescribed by legislation. The example assumes that the $50,000 is invested for the entire year, the value of the investment is constant over the year and the additional $5,000 is invested at the end of the year.
The estimated performance fee is based on the performance fee paid in relation to AHL Strategies over the 12 months to 31 December 2013. The use of this estimate is not an indicator or guarantee of future performance. The actual performance fee and therefore the management costs will vary, depending on the actual return of AHL Strategies. A performance fee will not always be payable. Please refer to ‘Performance fee- Underlying Fund’ in section 7.3 of the Product Disclosure Statement for more information.
Additional fees may apply. Please note this example does not capture all the fees and costs that may apply to you, such as the buy-sell spread.

Removal of the performance fee in relation to the Underlying Fund for the Wingate Wholesale Plus Global Equity Fund

Effective from the 26th May 2015, the performance fee was removed for the Underlying Fund for the Wingate Wholesale Plus Global Equity Fund, being Wingate Global Equity Fund – Wholesale Units (ARSN 132 393 705). The performance fee information in the Product Disclosure Statement for the Wingate Wholesale Plus Global Equity Fund is no longer applicable.

BT Investment Funds Product Disclosure Statement - issued 1 July 2013

Changes in relation to the BT Asian Share Fund

This information is in relation to BT Asian Share Fund.

Effective on or around 18 February 2014, the underlying investment manager for the BT Asian Share Fund (ARSN 087 595 131) will change from MFS International (U.K) Limited to J O Hambro Capital Management Group (a wholly owned subsidiary of BT Investment Management).

There will be no change to the investment objective, asset allocation, benchmark, buy/sell spreads and management fees.

The change in investment manager will incur transaction costs within the Fund. The cost incurred will depend on market conditions at the time.

BT Classic Investment Funds Product Disclosure Statement - issued 6 September 2006

BT Balanced Deeming Fund

BT Global Share Fund

New Advice Fee Facility - 1 July 2013 (PDF 256 KB)

BT Investor Choice Funds Product Disclosure Statement

BT Classic Lifetime - Personal Super

BT Classic Lifetime - Flexible Pension

BT Lifetime - Personal Super Product Disclosure Statement

BT Lifetime - Flexible Pension Product Disclosure Statement

BT Business Super

BT Lifetime Super - Employer Plan

Wrap Essentials Investments Funds Product Disclosure Statement

Change of name of Ironbark GTP Global Thematic – 1 September 2016

With effect from Thursday 1 September 2016, the name of BT External International Shares 6, the Investment Option referred to in the PDS as DWS Global Equity Thematic, changed to Ironbark Waverton Concentrated Global Share Fund (previously known as Ironbark GTP Global Equity Thematic from 29 July 2013 to 31 August 2016). Waverton Investment Management Ltd has been appointed as the investment manager of the underlying fund.

The information in the following table replaces the investment objective, investment strategy, investment manager and set out for the Ironbark Waverton Concentrated Global Share Fund (previously known as DWS Global Equity Thematic) investment option in the 'Investment Option profiles' section on page 37 of the PDS:

Investment objective

The Fund invests into the underlying fund which seeks to outperform the benchmark by 2-3% after fees, over rolling five year periods through investment in a focused selection of equities on a global basis.

Investment strategy

The Fund invests into the underlying fund which adopts a high conviction, long-only stock picking approach that invests in listed shares of 20-45 companies around the globe, which Waverton believe will:

Create shareholder wealth as a result of their intentional management strategy and/or superior business models;
Are priced at a significant discount to conservative estimates of cash-based, long-term intrinsic value; and
Demonstrate a reasonable investment ‘margin of safety’ in the analysis of the above two attributes.

The combination of management strategy, capital allocation, business models, long-term valuation opportunities and an investment ‘margin of safety’ leads to a style that is both valuation and quality focused.

Investment manager

Waverton Investment Management Ltd

Benchmark

MSCI World NR (AUD)

Asset allocation neutral position (NP) and ranges %

	Minimum	Maximum
International shares	80%	100%
Cash	0%	20%

Privacy Statement Update - 12 March 2014 (PDF 93 KB)

The information below updates the Wrap Essentials Investment Funds Product Disclosure Statement (PDS) dated 27 November 2009, issued by BT Funds Management Limited (ABN 63 002 916 458, AFSL 233 724), BT Funds Management No. 2 Limited (ABN 22 000 727 659, AFSL 233 720) and Westpac Financial Services Limited (ABN 20 000 241 127, AFSL 233 716) as updated by the Supplementary Product Disclosure Statement (SPDS) issued 16 March 2010, the Second SPDS issued 1 July 2010, the Third SPDS issued 20 March 2012 and the Fourth SPDS issued 1 July 2013, and should be read together with the PDS.

Change of name of Tyndall Australian Share - 17 September 2014

With effect from Wednesday 17 September 2014, the name of BT External Australian Shares 9, the Investment Option referred to in the PDS as Tyndall Australian Share, changed to Nikko AM - Tyndall Australian Share. The change in the Investment Option name is a result of a change in name of the underlying investment manager.

There is no change to the investment objective, investment strategy, investment manager or distribution frequency for this Investment Option.

Changes to disclosures in the Product Disclosure Statement of Wrap Essentials Investment Funds - 1 July 2014

About this update
This update outlines the changes in respect of the following effective from 1 July 2014:

Amendments to the ‘Fees and other costs’ section

i) The Consumer Advisory Warning, on page 70 of the PDS, is deleted and replaced with the following:

Did you know?

Small differences in both investment performance, and fees and costs, can have a substantial impact
on your long-term returns.
For example, total annual fees and costs of 2% of your account balance rather than 1% could reduce your final return by up to 20% over a 30 year period (for example, reduce it from $100,000 to $80,000).
You should consider whether the features such as superior investment performance or the provision of better member services justify higher fees and costs.

You may be able to negotiate to pay lower administration fees. Ask the Fund or your financial adviser.

To find out more

If you would like to find out more, or see the impact of the fees based on your circumstances,
the Australian Securities and Investments Commission (‘ASIC’) website (www.moneysmart.gov.au)
has a managed investment fee calculator to help you check out the different fee options.

ii) The terminology in the table outlining the fees when your money moves in or out of the Investment Option, on page 70 of the PDS, has changed. The ‘Termination fee’ is now known as an ‘Exit fee’.

Amendments to the ‘Taxation’ section

The following new paragraph is inserted after the ‘Non residents of Australia’ in the ‘Taxation’ section on page 81 of the PDS:

Our Reporting Obligations

We are required to identify certain US persons in order to meet account information reporting requirements under local and international laws.

If you or (where you are applying on behalf of an entity) the entity and/or any office bearer* of the entity and/or any individual who holds an interest in the entity of more than 25% (a Controlling Person) are a US citizen or US tax resident, you must telephone 1300 725 863 at the time of completing the application. When you contact us you will be asked to provide additional information about your US tax status and/or the US tax status of the entity and/or any Controlling Person which will constitute certification of US tax status for the purposes of the application.

Unless you notify us that you or (where you are applying on behalf of an entity) the entity and/or any Controlling Person are a US citizen or US tax resident as specified above, by completing the application you certify that you or (where you are applying on behalf of an entity) the entity and/or any Controlling Person are not a US citizen or US tax resident.

If at any time after account opening, information in our possession suggests that you, the entity and/or any Controlling Person may be a US citizen or US tax resident, you may be contacted to provide further information on your US tax status and/or the US tax status of the entity and/or any Controlling Person. Failure to respond may lead to certain reporting requirements applying to the account.

*Director of a company, partner in a partnership, trustee of a trust, chairman, secretary or treasurer of an association or co-operative

Changes to estimated performance fees

The ‘Performance fee’ estimate, in the ‘Further information on management costs and buy-sell spread’ table on page 78 and 79 of the PDS, is updated for the following Investment Options:

Investment option name	Performance fee (% pa)
Advance High Growth Multi-Blend	0.03%⁷
BT Multi-manager High Growth Fund	0.03%⁷
Advance Growth Multi-Blend	0.02%⁷
BT Multi-manager Growth Fund	0.02%⁷
Advance Balanced Multi-Blend	0.02%⁷
BT Multi-manager Balanced Fund	0.02%⁷
Advance Moderate Multi-Blend	0.01%⁷
BT Multi-manager Conservative Fund	0.01%⁷
Advance Defensive Multi-Blend	0.01%⁷

⁷ The performance fee included in management costs in the table is an estimate only based on the performance fees paid over the 12 months to 31 December 2013. This performance fee estimate is not a representation of likely future performance. The actual performance fee and therefore the total management cost will depend on the performance of the relevant investment managers and is likely to vary from this estimate.

For more information
For more information, talk to your financial planner or contact BT Customer Relations on 132 135 between 8.00am-6.30pm (Monday to Friday, Sydney time).

Investment in the Wrap Essentials Investment Funds
BT Funds Management Limited, BT Funds Management No. 2 Limited and Westpac Financial Services Limited are members of the Westpac Group. An investment in any Investment Option offered in the PDS is not an investment in, deposit with, or any other liability of, Westpac Banking Corporation ABN 33 007 457 141 (the Bank’) or any other company in the Westpac Group. It is subject to investment risk, including possible delays in repayment of withdrawal proceeds and the loss of income and principal invested. The Bank is not the issuer of any Investment Option. Neither the Bank nor any other company in the Westpac Group stands behind or otherwise guarantees the capital value or investment performance of any Investment Option offered in the PDS.

BT External International Shares 11 enhanced disclosure for hedge funds - March 2014

The Australian Securities and Investments Commission (ASIC) has issued a set of benchmarks and disclosure principles, contained in ASIC Regulatory Guide 240: Hedge Funds: Improving disclosure (RG 240), which is aimed at helping investors understand and assess hedge funds.

The disclosure benchmarks and principles set out in RG 240 apply to the Wrap Essentials Investment Fund investment option listed below, which is offered through Wrap Essentials and Super Wrap Essentials (together, Wrap Essentials).

BT External International Shares 11 (ARSN 140 396 756) the Investment Option referred to as BlackRock Global Allocation (the Fund).

The responsible entity of the Fund is Westpac Financial Services Limited (WFSL) ABN 20 000 241 127, AFSL 233 716 (WFSL).

The Fund will fall within the definition of a ‘fund of hedge funds’ because it invests in another fund, BlackRock Global Allocation Fund ARSN 114 214 701 (the Underlying Fund), which has been identified as a hedge fund for the purposes of RG 240.

Investors should review this information in conjunction with the Wrap Essentials Investment Funds Product Disclosure Statement (“PDS”) dated 27 November 2009 as amended by the Supplementary Product Disclosure Statement (“SPDS”) dated 16 March 2010, the Second SPDS dated 1 July 2010, the Third SPDS dated 20 March 2012 and the Fourth SPDS dated 1 July 2013.

What additional information should I expect?

ASIC requires a responsible entity of a fund of hedge funds to enhance existing disclosure by providing specific information regarding how the fund’s assets are valued, the periodic reporting it will provide and the relevant details set out in the disclosure principles outlined under RG240.

BT External International Shares 3 enhanced disclosure for hedge funds - March 2014

The Australian Securities and Investments Commission (ASIC) has issued a set of benchmarks and disclosure principles, contained in ASIC Regulatory Guide 240: Hedge Funds: Improving disclosure (RG 240), which is aimed at helping investors understand and assess hedge funds.

The disclosure benchmarks and principles set out in RG 240 apply to the Wrap Essentials Investment Fund investment option listed below, which is offered through Wrap Essentials and Super Wrap Essentials (together, Wrap Essentials).

BT External International Shares 3 (ARSN 105 250 726) the Investment Option referred to as Platinum International (the Fund).

The responsible entity of the Fund is Westpac Financial Services Limited (WFSL) ABN 20 000 241 127, AFSL 233 716 (WFSL).

The Fund will fall within the definition of a ‘fund of hedge funds’ because it invests in another fund, Platinum International Fund ARSN 089 528 307 (the Underlying Fund), which has been identified as a hedge fund for the purposes of RG 240.

Investors should review this information in conjunction with the Wrap Essentials Investment Funds Product Disclosure Statement (“PDS”) dated 27 November 2009 as amended by the Supplementary Product Disclosure Statement (“SPDS”) dated 16 March 2010, the Second SPDS dated 1 July 2010, the Third SPDS dated 20 March 2012 and the Fourth SPDS dated 1 July 2013.

What additional information should I expect?

ASIC requires a responsible entity of a fund of hedge funds to enhance existing disclosure by providing specific information regarding how the fund’s assets are valued, the periodic reporting it will provide and the relevant details set out in the disclosure principles outlined under RG240.

Changes in relation to the BT Asian Share Fund - December 2013

Effective on or around 18 February 2014, the underlying investment manager for the BT Asian Share Fund (ARSN 087 595 131) will change to JO Hambro Capital Management Group (a wholly owned subsidiary of BT Investment Management).

There will be no change to the investment objective, asset allocation, benchmark, buy/sell spreads and management fees.

The change in investment manager will incur transaction costs within the Fund. The cost incurred will depend on market conditions at the time.

The information in the following table replaces the investment manager set out for the BT Asian Share Fund investment option in the 'Investment Option profiles’ section on page 33 of the PDS:

Investment manager

JO Hambro

Changes in relation to the BT External Specialist 5 - September 2013

Effective 18 September 2013, disclosure has been amended for the BT External Specialist 5 (ARSN 111 629 451), the Investment Option referred to as Ibbotson International Shares High Opportunities (Unhedged).

(i) The information in the following table replaces the recommended investment timeframe set out for the Ibbotson International Shares High Opportunities (Unhedged) investment option in the 'Investment Option profiles’ section on page 16 of the PDS:

Recommended investment timeframe

7 years or more

(ii) The information in the following table replaces the investment objective set out for the Ibbotson International Shares High Opportunities (Unhedged) investment option in the 'Investment Option profiles' section on page 38 of the PDS:

Investment objective

The Fund aims to maximize outperformance relative to the benchmark (MSCI All Country World ex-Australia Index with Net Dividends Reinvested (Unhedged) over rolling seven year periods, by investing predominantly in listed international shares.

Change to the performance hurdle for the BT External Australian Shares 14 - 1 October 2013

The performance hurdle for BT External Australian Shares 14 (relating to the Ausbil Australian Emerging Leaders investment option) has changed as a result of a change by the underlying fund manager. Accordingly, the 'Performance hurdle' section of the Performance fee table on page 73 of the PDS is replaced with the following:

Performance hurdle

70% S&P / ASX Midcap 50 Accumulation Index,
and
30% S&P/ASX Small Ordinaries Accumulation Index
plus 85bps pa

Correction to the ARSN of BT External Property 5 - September 2013

The ARSN for BT External Property 5 (relating to the Advance Property Securities Multi-Blend Investment Option) which has been incorrectly stated on page 90 of the PDS is replaced with the following correct ARSN for BT External Property 5:

140 392 945

Change of name of DWS Global Equity Thematic - 29 July 2013

With effect from Monday 29 July 2013, the name of BT External International Shares 6, the Investment Option referred to in the PDS as DWS Global Equity Thematic, changed to Ironbark GTP Global Equity Thematic. The change in name is a result of a change in name of the underlying investment manager. As a result of this change, there is no change to the investment objective, investment strategy, investment manager or distribution frequency for this Investment Option.

Change of name of RREEF Global Property Securities - 29 July 2013

With effect from Monday 29 July 2013, the name of BT External Property 4, the Investment Option referred to in the PDS as RREEF Global Property Securities, changed to Ironbark RREEF Global Property Securities. The change in name is a result of a change in name of the underlying investment manager. As a result of this change, there is no change to the investment objective, investment strategy, investment manager or distribution frequency for this Investment Option.

Changes to buy-sell spread disclosure - 12 July 2013

The buy-sell spread for the following funds has been updated as follows:

(i) The information in the following table replaces the buy-sell spread set out for Ausbil Active Australian Equity Fund in the 'Further information on management costs and buy-sell spread Investment Options profiles' section on page 79 of the PDS:

Fund	Ausbil Active Australian Equity
Buy-sell Spread	0.50

(ii) The information in the following table replaces the buy-sell spread set out for the BlackRock Global Small Cap Fund in the 'Further information on management costs and buy-sell spread Investment Options profiles' section on page 78 of the PDS:

Fund	BlackRock Global Small Cap
Buy-sell Spread	1.00

(iii) The information in the following table replaces the buy-sell spread set out for the Macquarie Diversified Fixed Interest Fund in the 'Further information on management costs and buy-sell spread Investment Options profiles' section on page 80 of the PDS:

Fund	Macquarie Diversified Fixed Interest
Buy-sell Spread	0.16

(iv) The information in the following table replaces the buy-sell spread set out for the PM Capital Enhanced Yield Fund in the 'Further information on management costs and buy-sell spread Investment Options profiles' section on page 80 of the PDS:

Fund	PM Capital Enhanced Yield
Buy-sell Spread	0.20

(v) The information in the following table replaces the buy-sell spread set out for the Schroder Fixed Income Fund in the 'Further information on management costs and buy-sell spread Investment Options profiles' section on page 80 of the PDS:

Fund	Schroder Fixed Income
Buy-sell Spread	0.24

(vi) The information in the following table replaces the buy-sell spread set out for the UBS International Share Fund in the 'Further information on management costs and buy-sell spread Investment Options profiles' section on page 79 of the PDS:

Fund	UBS International Share
Buy-sell Spread	0.50

(vii) The information in the following table replaces the buy-sell spread set out for the Vanguard International Shares Index Fund in the 'Further information on management costs and buy-sell spread Investment Options profiles' section on page 79 of the PDS:

Fund	Vanguard International Shares Index
Buy-sell Spread	0.25

(viii) The information in the following table replaces the buy-sell spread set out for the Zurich Australian Equity Income Fund in the 'Further information on management costs and buy-sell spread Investment Options profiles' section on page 79 of the PDS:

Fund	Zurich Australian Equity Income
Buy-sell Spread	0.30

Changes in relation to Reduced Input Tax Credits - March 2013

Information in the PDS relating to Reduced Input Tax Credits (RITC) is being updated in the following manner:

Footnote 2 on page 74 of the PDS is replaced with the following updated text:
This amount is net of GST and reduced input tax credits (RITCs).
The last paragraph under the heading Goods and Services Tax (GST) on page 81 of the PDS is replaced with the following updated text:
The Investment Options may be entitled to claim a refund (Reduced Input Tax Credit (RITC)) for part of the GST included in the price of most purchases.

Correction to the ARSN of BT External International Shares 1 - March 2013

The ARSN for BT External International Shares 1 (relating to the Aberdeen Actively Hedged International Equities Investment Option) which has been incorrectly stated on page 89 of the PDS is replaced with the following correct ARSN for BT External International Shares 1:

105 252 417

Correction to the APIR code of BT Multi-manager Conservative Fund - March 2013

The APIR code for the BT Multi-manager Conservative Fund, which has been incorrectly stated on page 88 of the PDS, is replaced with the following correct APIR code for the BT Multi-manager Conservative Fund:

BTA0078AU

Changes in relation to the BT Geared Imputation Fund - March 2013

Consistent with the payment arrangements for management costs applicable to other Investment Options, the issuer fee for the BT Geared Imputation Fund is paid from the assets of the Investment Option and reflected in the unit price of your investment. Accordingly, footnote 6 on page 71 of the PDS is deleted.
The final sentence in the BT Geared Imputation Fund Impact of gearing section on page 82 of the PDS is replaced with the following updated text:

Instead, the losses can generally be offset against future income or gains of the Investment Option, subject to the Investment Option passing certain tests.

BT International Equities Update - 17 December 2012

BT International Equities Update - 17 December 2012 (PDF 38 KB)

Change to the benchmark for the BlackRock Global Small Cap Fund

The benchmark for the BlackRock Global Small Cap Fund has changed to the S&P Global MidSmall Cap Index. Accordingly, the 'Benchmark' section of the Investment Option profile for the BlackRock Global Small Cap Fund on page 32 of the PDS is replaced with the following:

Benchmark	S&P Global MidSmall Cap Index

Changes to Strategic Asset Allocations - 1 July 2012

Effective 1 July 2012, the asset allocation ranges, for the following Advance Multi-Blend and BT Multi-Manager diversified Investment Options have changed.

The information in the following table replaces the asset allocation ranges set out for the BT Multi-manager Conservative and Advance Defensive Multi-Blend Fund in the ‘Investment Options profiles’ section on pages 21 & 22 of the PDS:

Fund	BT Multi-manager Conservative Fund & Advance Defensive Multi-Blend
Asset allocation neutral position (NP) and ranges %		NP	Range
Australian Shares	12.5	2.5 - 17.5
International Shares	5	0 - 10
Property	4	0 - 9
Australian Fixed Interest	14	9 - 24
International Fixed Interest	22	17 - 32
Asian Shares	1.5	0 - 3.5
Commodities	3	0 - 5
Growth Alternative Strategies	4	0 - 14
Defensive Alternative Strategies	11	6 - 21
Cash	23	15 - 43

The information in the following table replaces the asset allocation ranges set out for the Advance High Growth Multi-Blend and BT Multi-manager High Growth Fund in the ‘Investment Options profiles’ section on page 18 of the PDS:

Fund	Advance High Growth Multi-Blend and BT Multi-manager High Growth Fund
Asset allocation neutral position (NP) and ranges %		NP	Range
Australian Shares	40.5	30.5 - 45.5
International Shares	33	23 - 38
Property	4	0 - 9
Asian Shares	3.5	0 - 8.5
Commodities	5	0 - 10
Growth Alternative Strategies	14	9 - 29
Defensive Alternative Strategies	0	0 - 15
Cash	0	0 - 20

Changes to BT External Fixed Interest 13 - effective 2 April 2012

This information is in relation to BT External Fixed Interest 13 (ARSN 140 393 817), the Investment Option referred to as Macquarie Income Opportunities in the Wrap Essentials Investment Funds Product Disclosure Statement (PDS) dated 27 November 2009 as amended by the Supplementary Product Disclosure Statement (SPDS) issued 16 March 2010, the Second SPDS issued 1 July 2010 and the Third SPDS issued 20 March 2012.

Effective 2 April 2012, disclosure has been amended for this Investment Option. Accordingly, the ‘Asset allocation neutral position (NP) and ranges %’ section of the Investment Option profile for the Macquarie Income Opportunities Fund on page 57 of the PDS is replaced with the following:

Macquarie Income Opportunities
Sector	Range
RMBS, CMBS, floating rate notes, asset backed and fixed rate corporate debt securities	20-100
Hybrid securities	0-10
Global investment grade credit securities	0-40
Global high yield debt securities	0-15
Emerging market debt securities	0-15
Credit opportunities	0-20

Note: No changes have been made to the neutral allocations.

Change to the benchmark for the Advance International Fixed Interest Multi-Blend Fund

The benchmark for the Advance International Fixed Interest Multi-Blend Fund has changed to the Barclays Global Aggregate Bond Index (fully hedged). Accordingly, the ‘Benchmark’ section of the Investment Option profile for the Advance International Fixed Interest Multi-Blend on page 26 of the PDS is replaced with the following:

Benchmark	Barclays Global Aggregate Bond Index (fully hedged)

Change of name of ING Diversified Fixed Interest - 27 February 2012

With effect from Monday 27 February 2012, the name of BT External Fixed Interest 12, the Investment Option referred to in the PDS as ING Diversified Fixed Interest, changed to OnePath Diversified Fixed Interest. The change in name is a result of a change in name of the underlying investment manager. As a result of this change, there is no change to the investment objective, investment strategy, investment manager or distribution frequency for this Investment Option.

Changes to BT External Diversified 3 - effective 29 September 2011

The information below is in relation to BT External Diversified 3 - effective 29 September 2011

This information is in relation to BT External Diversified 3 (ARSN 105 252 524), the Investment Option referred to as Perpetual conservative Growth in the Wrap Essentials Investment Funds Product Disclosure Statement dated 27 November 2009 as amended by the Supplementary Product Disclosure Statement (SPDS) dated 16 March 2010 and the SPDS dated 1 July 2010.

Effective 29 September 2011, disclosure has been amended for this Investment Option. Accordingly, the following replaces footnote 6 related to this Investment Option on page 31 of the PDS.

6_ The Fund gains its exposure to Australian shares by investing in an underlying fund/s which invest/s primarily in Australian listed or soon to be listed shares but may have up to 20% exposure to stocks outside Australia. The investment guidelines showing the Fund’s maximum investment in international shares do not include this potential additional exposure. Short positions may be part of the underlying Australian share funds’ strategy. Currency hedges may be used from time to time.

No changes have been made to the investment objective or investment strategy.

Changes to Investment Option profiles - 1 March 2011

Changes to Investment Option profiles - Asset allocation neutral position (NP) and ranges

As at 1 March 2011, changes have been made to the asset allocations and asset sector ranges to a selection of the Advance Multi-Blend and BT Multi-manager Investment Options available through Wrap Essentials Investment Funds. The Asset allocation neutral position (NP) and ranges have been updated as shown below.

Page 18 of the PDS - Advance High Growth Multi-Blend and BT Multi-manager High Growth Fund
	NP	Range
Australian Shares	44.5	41.5 - 47.5
International Shares	39.5	36.5 - 42.5
Property	4	1 - 7
Other	12	9 - 15
Cash	0	0 - 8

Page 19 of the PDS - Advance Growth Multi-Blend and BT Multi-manager Growth Fund
	NP	Range
Australian Shares	37.5	32.5 - 42.5
International Shares	30	25 - 35
Property	7	2 - 12
Australian Fixed Interest	4	0 - 9
International Fixed Interest	7	2 - 12
Other	11.5	6.5 - 16.5
Cash	3	0 - 11

Page 20 of the PDS - Advance Balanced Multi-Blend and BT Multi-manager Balanced Fund
	NP	Range
Australian Shares	13.5	8.5 - 18.5
International Shares	6.5	1.5 - 11.5
Property	4	0 - 9
Australian Fixed Interest	14	9 - 19
International Fixed Interest	26	21 - 31
Other	11	6 - 16
Cash	25	17 - 33

Page 21 of the PDS - Advance Moderate Multi-Blend
	NP	Range
Australian Shares	23.5	18.5 - 28.5
International Shares	14	9.0 - 19.0
Property	5	0 - 10
Australian Fixed Interest	13	8 - 18
International Fixed Interest	23	18 - 28
Other	9.5	4.5 - 6.5
Cash	12	4 - 20

Page 21 of the PDS - BT Multi-manager Conservative Fund
	NP	Range
Australian Shares	13.5	8.5 - 18.5
International Shares	6.5	1.5 - 11.5
Property	4	0 - 9
Australian Fixed Interest	14	9 - 19
International Fixed Interest	26	21 - 31
Other	11	6 - 16
Cash	25	17 - 33

Page 22 of the PDS -Advance Defensive Multi-Blend
	NP	Range
Australian Shares	13.5	8.5 - 18.5
International Shares	6.5	1.5 - 11.5
Property	4	0 - 9
Australian Fixed Interest	14	9 - 19
International Fixed Interest	26	21 - 31
Other	11	6 - 16
Cash	25	17 - 33

Changes to BT External Specialist 1 - 1 February 2011

The information below is in relation to BT External Specialist 1 - effective 1 February 2011

BT External Specialist 1 (ARSN 105 252 677), the Investment Option referred to as Schroder Hybrid Securities in the Wrap Essentials Investment Funds Product Disclosure Statement dated 27 November 2009 as amended by the Supplementary Product Disclosure Statement (SPDS) dated 16 March 2010 and the SPDS dated 1 July 2010.

Effective 1 February 2011, the name of the Investment Option has will change from Schroder Hybrid Securities to Schroder Credit Securities. All references in the PDS to Schroder Hybrid Securities are replaced with Schroder Credit Securities. The change in name provides a more accurate description of the underlying investments of this Investment Option. No changes have been made to the investment objective or investment strategy.

Change of name of Goldman Sachs JBWere Australian Infrastructure - 2 August 2010

With effect from Monday 2 August 2010, the name of BT Australian Shares 8, the Investment Option referred to in the PDS as Goldman Sachs JBWere Australian Infrastructure, changed to Goldman Sachs Australian Infrastructure. The change in name is a result of a change in name of the underlying investment manager. As a result of this change, there is no change to the investment objective, investment strategy, investment manager or distribution frequency for this Investment Option.

Change to distribution frequency for some Advance Multi-Blend Funds - 1 July 2010

From 1 July 2010, the distribution frequency for the Advance High Growth Multi Blend, Advance Growth Multi Blend, Advance Australian Shares Multi Blend and Advance International Fixed Interest Multi Blend Funds is increasing to Quarterly.

Accordingly, the ‘Distribution frequency' section of the Investment Option profiles for the Advance High Growth Multi Blend, Advance Growth Multi Blend, Advance Australian Shares Multi Blend and Advance International Fixed Interest Multi Blend Funds on pages 18-26 of the PDS is replaced with the following:

Distribution frequency	Quarterly

Changes to benchmark for the Advance Australian Shares Multi-Blend Fund - April 2010

The benchmark for the Australian Shares Multi-Blend Fund has changed to the S&P/ASX 300 Accumulation Index. Accordingly, the ‘Benchmark’ section of the Investment Option profile for the Australian Shares Multi-Blend on page 24 of the PDS is replaced with the following:

Benchmark	S&P/ASX 300 Accumulation Index

BT Index Funds Unfair Contract Terms Product Update - November 2016

Significant Event Notice - Federal Budget update: Changes to your Super - 1 July 2017 (PDF 906 KB)

Westpac Flexible Income Plan

Significant Event Notice - Federal Budget update: Changes to your Super - 1 July 2017 (PDF 906 KB)

Westpac Variable Income Plan

Significant Event Notice - Federal Budget update: Changes to your Super - 1 July 2017 (PDF 906 KB)

Product updates & disclosure notices

Notices

PDS updates

BT Partner Funds

BT Multi-manager Funds

Wholesale Plus Funds Product Disclosure Statement