What Are The Fees And Charges To Invest In The Funds?
Platinum does not charge any entry, exit or trail fees. Platinum receives a fee of 1.44% pa. The Administration costs (the fees and costs for operating a Fund) are 0.10% pa. These fees / costs together equal the Management Expense Ratio (Indirect Cost Ratio) of 1.54% pa. You will also incur a buy-sell spread (0.5% of the unit price) when your money moves in or out of the Fund. Miscellaneous fees in respect of bank dishonours, electronic transfer, tracing and BPAY may be payable. Refer to the current Product Disclosure Statement (PDS) for the Funds. Percentages quoted above are inclusive of GST and are in respect of the Standard Investment Option in the Funds.
What Is The Buy-Sell Spread?
The buy-sell spread is 0.5% of a Fund's unit price. This spread is used to cover the cost of buying or selling the underlying securities in a Fund that result from an investor's application or withdrawal.
The buy-sell spread incorporates 0.25% buy costs (which are built into a Fund’s entry price) and 0.25% sell costs (which are built into a Fund’s exit price). The buy and sell costs are not fees paid to Platinum – they are retained in a Fund to cover the transaction costs associated with an investor entering or exiting a Fund.
Do These Funds Pay Distributions?
The funds distribute annually at 30 June. Distributions are not pro-rated for the duration of your investment during the tax year. If you are a unit holder as at 30 June, you will receive the full distribution. Distribution amounts are dependent on portfolio turnover in any given year and as such, vary from year to year. There may be times when no distribution is paid.
Can I establish a regular investment plan?
You can regularly add to your existing investments
monthly or quarterly. A minimum investment
of A$200 or NZ$250 per month or quarter applies
(for each Fund you select under the Plan).
To nominate a Fund under the Regular
Investment Plan you must have initially invested
in that Fund.
Your specified amount will be deducted from
your participating ‘Financial Institution
Account’ on the 19th of each month (or on
the 19th of a particular month for a quarterly
plan). Where the 19th falls on a non-Business
Day, money will be debited from your account
on the next Business Day.
To initiate this
service, complete section 8.5 of the ‘Application
Form for New Investment’ (if a new investment
is being made), or the ‘Regular Investment
Plan Form’.
If you select a New Zealand ‘Financial
Institution Account’ for the service, then
you must (instead) complete the New Zealand
specific Direct Debit Authority.
Are
the Platinum Trust Funds permitted to borrow?
There is no restriction on borrowing in the Funds’ Constitution. Platinum’s policy is not to borrow on behalf of any Fund. If we amend this policy, we will notify Investors by placing a notice on our website.
Short-term overdrafts can arise from trade settlement delays. These are permitted.
Are
the Platinum Trust Funds permitted to engage
in securities lending?
The Funds’ Constitutions permit Platinum to
enter into securities lending arrangements.
Platinum’s policy is not to participate in
securities lending. If we amend this policy,
we will notify Investors by placing a notice
on our website.
Is There A Cut-Off To Receive The Distribution And Make Changes To My/Our Distribution Nomination And/Or Account Payment Details?
As the Funds are forward priced, the last day that a transaction can be received for processing (so as to be included for the 30 June distribution) is the Business Day prior to 30 June. Note that the processing cut-off time on that day is 3:00pm (AEST).
For a change (to your distribution nomination and account payment details) to be reflected in the next distribution, your written advice must be received by us no later than five Business Days prior to 30 June.
When Can I Transact In The Funds?
You can transact on any Business Day (which means a day other than a Saturday, Sunday or public holiday when banks are open for business in Sydney, Australia).
Can An Existing Investor Transfer Units In The Funds?
Yes, at Platinum's discretion. For any approved transfer, we require an Australian Standard Transfer Form (the white coloured one) either stamped with duty paid or marked as exempt by the NSW Office of State Revenue. Download a copy of the Standard Form (you need Adobe's Acrobat Reader to view the form - this is freeware). Generally a transfer form is used to move assets between custodians, trustees, margin lenders etc. You will also need to advise Platinum of the transferee’s account name and number. If the transferee is a new investor, an Application Form from the current Product Disclosure Statement (PDS) is required to be completed.
Are The Platinum Trust Funds Retail Or Wholesale Funds?
The Funds are classified as wholesale
funds as there are no entry fees and the minimum
investment is $20,000 or NZ$25,000 per Fund
and the minimum account balance is A$20,000
per Fund.
Are Platinum's Products Regulated?
Platinum holds an Australian Financial Services Licence (No. 221935) and is the responsible entity of the Platinum Trust Funds. It performs the duties of both trustee and manager and is responsible for the proper and efficient administration, management and valuation of the Funds, including all investment decisions. The working of each Fund is regulated by the Corporations Act 2001 (Cth), its constitution and the general law of Australia. The Australian Securities and Investments Commission (ASIC) regulates financial markets, securities, futures and corporations in Australia.
What are the APIR Codes for the
various Platinum Trust Funds?
PLA0002AU Platinum InternationalFund
PLA0006AU Platinum Unhedged Fund
PLA0004AU Platinum Asia Fund
PLA0001AU Platinum European Fund
PLA0003AU Platinum Japan Fund
PLA0100AU Platinum International Brands Fund
PLA0005AU Platinum International Health
Care Fund
PLA0101AU Platinum International Technology Fund
Are There Restrictions As To Who Can Invest In The Platinum Trust Funds?
The Funds are open for investment to persons receiving the Product Disclosure Statement (PDS) in Australia and New Zealand. Applicants residing outside Australia and New Zealand must warrant (on the Application Form) that they have the authorisation to invest under the laws of their countries, without the offer contained in the PDS being registered with, or otherwise regulated by, the relevant regulator in these jurisdictions.
Please note that owing to legislative restrictions in the UK , Canada and Ireland, persons from these countries will not be able to invest, unless they meet specific professional investor criteria or can rely upon another investment exemption under their country’s laws. You should contact Investor Services to find out the verification information you will need to supply.
American regulation prevents US citizens from investing in the Funds.
Are The Funds Available Through Any Platforms (i.e. Wraps Or Master Trusts)?
Yes, the Funds are on various Platform offerings  click here
Can I Provide A 'Care Of' Or My Financial Adviser's Address When Applying For Units?
No.
The Australian Securities and Investments Commission has issued a QFS on this matter, which is reproduced below:
QFS 127
Published 11 November 2003
If a retail client chooses to acquire a financial product, such as an interest in a managed investment scheme, and needs to fill out an application form to do so, what address should the client provide on that application form?
Section 1016A of the Corporations Act 2001 requires that application forms are attached to, accompany or are derived from a Product Disclosure Statement (PDS). This is to maximise the likelihood that the PDS has been received and read by the applicant before applying for the product.
Regulation 7.9.74(1) of the Corporations Regulations 2001 provides that the application form must contain the following information:
- (a) the applicant's name;
- (b) the applicant's date of birth;
- (c) the applicant's address.
In ASIC's view, reg 7.9.74(1) is a stand-alone requirement. This means it does not contemplate that the address can be other than the address of the actual applicant. This allows the product issuer to have a means of identifying the applicant. However, the application may also contain room for a separate address for correspondence purposes.
We note it is common practice for some licensees or their representatives to provide their own business address as their client's address. In our view this is not permissible under the regulation.
Our view is consistent with s1015C of the Corporations
Act 2001, which stipulates how a PDS is to be
'given' to a client. It provides that a PDS may
be given to a person, or the person's agent,
but cannot be given to a person's agent if the
agent is acting in the capacity of a financial
services licensee.
The provision of the licensee's address for correspondence purposes is not prohibited. We note, however, that to comply with good disclosure principles and the law it may be appropriate in some circumstances for disclosure documents and or periodic statements to be sent directly to the purchaser of the product. We therefore suggest that it is preferable for the correspondence address to also be the client's own address, and not the licensee's address.
Platinum suggests that investors consult a financial adviser and a taxation adviser prior to making any investment decision.
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