@dviser magazine - March 2009

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News

New redemption process for frozen investment options

From the IOOF Product Development Team

To make things easier for you and your clients, we have changed the redemption process for frozen investment options.

We will write to clients holding frozen investment options informing them that for future withdrawal windows they can either:

Submit a request now to participate in all windows until all units held have been redeemed; or
Submit a request now to redeem units in the next window; or
If they do not submit a request for the next window, they may submit a request for any subsequent window if/when they wish to participate.

To provide a consistent approach, we will be applying the same process across all frozen investment options, irrespective of whether an investment option provides withdrawal offers or simply pays quarterly redemptions.

As a result, we will not write to investors prior to windows opening. Instead, we will allow them to submit requests at any time to participate in the next available window.

Additionally, up to date information about any frozen investment options is published on our website.

Also in this issue

Viewpoint Contents Newsflash: New redemption process for frozen investment options Technical Strategy: Centrelink Deeming Rates fall yet again Technical Strategy: Reportable Employer Superannuation Contributions Technical Strategy: The tax exempt status of pension income Technical Strategy: New income tests for Government support and tax Product Spotlight: Discover the overlooked and underestimated power of... Product Spotlight: e-Forms – just so much easier Performance Data

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FOR FINANCIAL ADVISER USE ONLY

This newsletter has been prepared and issued by IOOF Investment Management Limited, ABN 53 006 695 021, AFS Licence No. 230524, RSE Licence No. L0000406 (IOOF) as Trustee of the IOOF superannuation funds and as service operator of IOOF Investor Directed Portfolio Services. IOOF is a company in the IOOF Group of companies comprising IOOF Holdings Ltd and its related bodies corporate. This newsletter is intended for financial adviser use only. It contains factual information and general financial product advice only and has been prepared without taking into account your or your client’s individual objectives, financial situation and needs. The information in this newsletter is not intended to be a substitute for professional financial product advice and you and your clients should determine its appropriateness having regard to your or your client’s particular circumstances. The product disclosure statement or offer document should be obtained before deciding whether to acquire, dispose of, or to continue to hold, an investment in an IOOF product.

The information contained in this newsletter is given in good faith and has been prepared based on information that is believed to be accurate and reliable at the time of publication. All assumptions and examples are for illustration purposes only and are based on the continuance of present laws and IOOF's interpretation of them. IOOF does not undertake to notify recipients of changes in the law or its interpretation. Whilst every effort has been made to ensure that the information provided in this newsletter is accurate, current and complete, neither IOOF nor any related body corporate in the IOOF Group give any warranty of accuracy, reliability or completeness or accept any responsibility for any errors or omissions, including by reason of negligence. Neither IOOF nor any related body corporate in the IOOF Group shall be liable for any loss or damage whether direct, indirect or consequential arising out of, or in connection with, any use of, or reliance on, the information provided in this newsletter.