Managed funds FAQs

When will distributions for funds held as at 30 June 2009 be paid?
Based on advice we have received from Fund Managers we expect to be able to finalise all distribution payments by the 5th August 2009. Distribution payments will be made to your Master Savings account.

When will my Consolidated tax statement be available?
We aim to post your consolidated tax statement and capital gains tax report to you by 18 September 2009. We will also publish, and send you a 2008-09 tax guide to assist you in preparing your tax return.

When will my Annual Investor Statement be available?
Your annual investor statement, the audit review and the audit report, can only be finalised after all distributions and tax statements have been prepared. Consequently, we also expect to be able to post these to you by the 18th September 2009. 

You can use our online fund selector to compare the various funds on offer, here you can read the Product Disclosure Statements, past performance and individual ratings for each fund.

When you have decided on your choice you simply click the appropriate 'Buy' button which will guide you through the purchase process.

To purchase a managed fund you must first hold a RaboPlus account. To open an account now, just fill in our online application form. 

An overview of all fees and conditions can be found in our IDPS Guide.

No two investors are the same. Some swear by risk, others want capital security above everything; many have a view somewhere in between. You must decide which profile best suits you, your time horizon and your investment objectives.

To determine your investor profile, decide how much risk you are prepared to take with your investment into managed funds. You need to identify your investment objectives, assess your comfort with the various levels of risk and reward, and clarify your long term investment goals.

To help you do this you may wish to read our Investor case studies.

The minimum amount per order is $250.

Each Managed Fund comes with additional information, eg. Fund Profile page and a Product Disclosure Statement (PDS). We advise you to read these documents carefully before placing an order, giving full consideration to your risk profile and investment objectives.

When you provide us with a buy order, you must confirm you have received the Product Disclosure Statement. This can be found both in the Fund Selector adjacent to the buy button for each fund, or on the Buy units in a fund screen. We may even automatically display this for you when you select the buy button.

Orders are completed and processed as soon as the fund manager provides the fund price, for fund investing inside Australia this will usually be the next day, for other funds this may be two or three days later. In each case RaboPlus will process your order as quickly as we receive confirmation from the fund manager.

Your orders must be placed before 1PM (Sydney time) in order to be completed for that days unit price. A confirmation of the transaction will appear in your online account, and remain as a pending order until the confirmation is received from the fund manager.  

We suggest that you place your order at least 15 minutes before closing time. With orders there are no guarantees regarding the fund price for which your order will be executed. Please note that it may differ from the fund price currently indicated.

You can check if your purchase has been completed in your Managed Fund Portfolio, those orders yet to be confirmed are shown as pending with a small P.

Yes. You must first cancel the existing order and then place a new order.

Yes, if your order has not yet been executed. However, there is a deadline of 1 PM.

Your managed fund portfolio will show the status of all outstanding orders.  Any pending order can be cancelled. Select pending orders, indicate which order you wish to cancel and click on "Cancel". Then click "Confirm" to cancel the order, or click "Cancel" to return to the pending orders screen.

Orders for managed funds are only completed during working hours on business days.
For 2008 the following days are exempt:

• New Years Day - January 1

• Australia Day - January 28

• Good Friday - March 21

• Easter Monday - March 24

• ANZAC Day - April 25

• Queens Birthday - June 9

• Labour Day - October 6

• Christmas Day - December 25

• Boxing Day - December 26
  

Different funds may pay distributions at different times of the year and this will typically depend upon what type of fund it is. Funds will schedule to pay distributions either monthly, quarterly, semi-annually or annually. To find out how often a fund schedules to pay distributions, it is best to refer to the fund's Product Disclosure Statement (PDS). Any distributions will be paid directly to your RaboPlus account, so refer to the PDS to get an indication of when you can expect the money to be transferred. A distribution will not necessarily always be made on a scheduled distribution date, as the performance of a fund will impact on its ability to pay money back to investors.

The Investment Committee is responsible for managing and maintaining the relationship with fund providers and managed funds that RaboPlus offer and ensuring that the funds we offer continue to meet our selection criteria. The Investment Committee is required to uphold our selection philosophy, safeguard the selection criteria, guidelines and procedures of the selection criteria. The role of the Investment Committee is not to verify the quality of the fund providers and/or managed funds.

The RaboPlus Investment Committee may place a fund manager and/or fund 'on hold' when it no longer meets our selection criteria. The Investment Committee will usually only take this action as a temporary measure and where the outstanding issues are likely to be resolved within a reasonable timeframe.

The FAQ provided here provides a general summary of some of the Australian taxation implications associated with owning managed funds. The information is based on current Australian tax laws in force as at 1 May 2007. These laws may change at any time. You should consult your own tax adviser in relation to your investments.
After the end of each financial year, RaboPlus will provide you with your consolidated annual tax statement showing the tax components of the distributions you received during the year as well as a capital gains tax report.  As an individual investor, you can use the information in these two reports in your personal tax returns.  Refer to the annual tax information section below.

Where you have not provided RaboPlus with a valid TFN, ABN or exemption code, the distributions on your units may be subject to withholding tax.  RaboPlus may be required to deduct withholding tax at the maximum marginal tax rate plus the Medicare levy (46.5%) from payments of those distributions it makes to you. The amount withheld will be displayed in your annual statement credited against your assessment, and may be refunded by the Australian Tax Office ("ATO").   

The Capital Gains Tax (CGT) rules are complex and you should consult your accountant or tax advisor to assist you with your CGT position.  RaboPlus will provide you with a CGT statement at the end of the financial year that may assist you with determining your CGT position.  The CGT statement will be produced on the basis that you are an Australian individual resident.  Refer to the annual tax information section below.

You will be required to file an income tax return and declare distributions you have received, and taxable gains made on the sale of your units (if applicable) in the income year in which those events take place. You will be responsible for satisfying any income tax liability arising in relation to your units to the ATO.

The following tax information will be provided to you on an annual basis based on transactions of the previous financial year.  This information can be used by you to complete your tax returns.  However, if you are unfamiliar with how to complete your tax returns with the information supplied, please consult your tax advisor.

Annual Tax Statement
RaboPlus will provide you with an annual tax statement sometime after the end of each financial year if you were entitled to receive distributions in that financial year.  This will be provided to you online once you have logged onto your account.  Depending on how quickly we are able to obtain the tax information from each fund manager, will determine when this information will become available.  This information is expected to be provided within 2 months of financial year end.  

The annual tax statement will be on a fund-by-fund basis and if you have more than one managed fund a summary page will also be provided.  The information provided in the annual tax statement includes both cash and non-cash components and is based upon information received from the respective fund managers.  Accordingly, this information is provided in good faith based upon the information received by RaboPlus from each fund manager. 

 
To the extent permitted by law, we take no responsibility for the accuracy of the information contained in any statement.  The annual tax statements have been prepared on the basis that the recipient is an Australian resident individual investor, and as such, the references under the "Tax Return Label" heading on the annual tax statement relate solely to those appearing on the Individual Income Tax Return Forms for that year. 

Please contact your tax adviser for the income tax treatment of the items provided in the annual tax statement, and their specific application to your income tax return requirements. 

Capital Gains Tax report
RaboPlus will also provide you with an annual capital gain tax report, if you have a capital gains tax event during the last financial year.  Again the capital gain tax report has been prepared on the basis that you are an Australian resident individual investor, and that the gains and losses derived are on capital account.  

The timing of this report is similar to the annual tax statement, again RaboPlus is dependent on the fund managers, however, the expectation is that this report will be provided within 2 months after financial year end.  The report will be provided to you online once you have logged onto your account.  

Please contact your tax adviser for the income tax treatment of the items provided in the capital gains tax report, and their specific application to your income tax return requirements. 

RaboPlus Tax Guide
RaboPlus will also provide an annual Tax Guide that will assist with how you can complete your personal income tax return.  This Tax Guide has been prepared on the basis that you are an Australian resident individual investor.  The Tax Guide also assumes that the RaboPlus investments are the only investments that you hold.  You may need to include your other investments in your tax return, in addition to your RaboPlus investments.  Please refer to the RaboPlus Tax Guide for more detailed tax information.