Managed investments - updating existing investments 108-04090030

Customers can update their managed investment details online.

Unitised managed investment prices are automatically revalued every 6 months in March and September.

Customers must be advised they are required to notify of changes, including the number of units they own and changes to investment options.

Margin loans, unregistered managed investments/superannuation funds, account based managed investments/superannuation funds and personal investment funds (also known as a master trust), are manually reviewed every 6 months.

Customers must be advised they need to notify changes to:

• balance of their margin loan(s)
• value of their unregistered managed investment(s)/superannuation fund(s)
• value of their account based managed investment(s)/superannuation fund(s)
• changes in the investment held within a personal investment fund portfolio (also known as a Master Trust)

If there is a small change to asset values check if the customer need to notify.

If the bulk update for 20 March, 20 September or any other CPI event has been actioned, the Event Date may display as a date in the future when updating a managed investment.

For example, today's date is 15 March and Event Date for investment shows 20 March.

In these cases, follow the workaround for MIS/SIS updates just before 20 March or 20 September.

A Public Trustee may be appointed as guardian or administrator to manage the personal affairs of someone who is unable to do this for themselves. It is similar to a power of attorney arrangement.

A Public Trustee may also be appointed as trustee of a trust fund set up to hold assets on behalf of a beneficiary. Some examples are testamentary trusts, statutory trusts set up by the courts and protective trusts set up for children.

To determine the correct treatment of these funds, see Managed investments - adding a new investment.