Change to custodian for Tasmanian Perpetual Trustee Managed Investment Schemes
First published on December 7, 2016
Updated January 6 2017
Tasmanian Perpetual Trustees today announced that MyState Bank has been appointed Custodian for its 10 Registered Managed Investment Schemes.
“The appointment of MyState Bank as Custodian will see Tasmanian Perpetual Trustees combine its custody team with MyState’s, resulting in an improved custody service for clients” said Andrew Polson, General Manager Wealth Management.
“The change will result in an improved custody function that will permit more efficient management of the Management Investment products for clients and will also improve the capital efficiency of the Tasmanian Perpetual Trustee business. Importantly, it will not result in any additional costs to investors”.
As a result of the appointment, MyState Bank will provide custodial services to the Responsible Entity. In its role as custodian, MyState Bank has a limited role and has no obligation to monitor whether the Responsible Entity is complying with its obligations as responsible entity of the Fund.
The agreement takes effect immediately, and Tasmanian Perpetual Trustees will notify investors via its website once the implementation had been completed.
Tasmanian Perpetual Trustee Funds impacted:
- At Call Fund
- Fixed Term Fund
- Long Term Fund
- Select Mortgage Fund
- Mortgage Fund
- Balanced Fund
- Equity Fund
- Australian Share Fund
- International Share Fund
- Diversified Property Fund
Investments in the above mentioned Funds are subject to investments risks such as loss of income and/or capital. Please refer to the relevant Product Disclosure Statement for further details. Neither Tasmanian Perpetual Trustees, MyState Bank or MyState Limited guarantee the repayment of capital or the performance of the above mentioned Funds.