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Macquarie Flexi 100 Trust


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Macquarie Flexi 100 - 2012 offer

Features

Now open - June 2013 offer

We are pleased to advise that the June 2013 offer of the Macquarie Flexi 100 Trust (Flexi 100) is now open.

Flexi 100 offers investors and SMSFs1 100 per cent leveraged exposure to a diverse menu of investment opportunities, with continuous capital protection and quarterly liquidity.2

With Flexi 100, your clients have the opportunity to invest in a wide range of investments with minimal capital outlay, capital protection throughout the entire investment term and the choice to ‘Walk-Away’ from their investment before maturity.3

Flexi 100 may also be suitable for clients looking for investment strategies that offer a potential tax deduction before the end of the financial year.

What's on offer?

The latest offer of Flexi 100 provides exposure to the following investment opportunities.

To find out more, click on the ‘Current offer’ tab above.

Opportunity Description Term
Australian Equity Focus A fixed basket of 20 equally-weighted shares with large market capitalisation listed on the ASX; also available with the benefit of No Hurdle. 3.5 year
Best-of Basket This strategy delivers upside exposure to the best performing of two baskets: an ASX Tilt basket and a PIMCO Tilt basket. 3.5 year
Australian Equity S&P/ASX 200 Index, 200 leading companies by market capitalisation listed on the ASX; also available with the benefit of No Hurdle. 5.5 year
Asian Equity An equally weighted basket of indices and index tracking funds with exposure to China, Hong Kong, Taiwan, Korea and Singapore. Available with the benefit of No Hurdle. 5.5 year
US Equity S&P 500 Index, 500 leading companies by market capitalisation listed on either the New York Stock Exchange or NASDAQ. 5.5 year

This Flexi 100 offer is now open for investment until Friday 28 June 2013.

Key product features

  • Leveraged exposure to potential growth equity investments in Australia, US and Asia, as well as a unique Best-of Basket
  • The flexibility to 'Walk-Away' early with no break costs or investment shortfalls, irrespective of market movements3
  • Point to point exposure with a choice of a 3.5 year or 5.5 year investment term
  • Continuous capital protection throughout the investment term
  • Fixed Distributions over the investment term to assist with interest payments5
  • Access to a 100 per cent borrowing facility with no margin calls
  • An eligible investment for Self Managed Super Funds (SMSFs)1
  • Investors may be eligible for a tax deduction on their loan interest amount up to the applicable benchmark interest rate.4

Risks

As with most investments, there are some key risks which investors should be aware of prior to investing.

  • Poor performance: The risk that the relevant Reference Asset does not perform well enough to make a gain on an investment.
  • Borrowing to invest: The risk that at Maturity, the total value of returns is less than the total interest payments and other costs, meaning that the Investor will incur a loss on their investment. In addition, investors should take into account relevant taxation considerations and the time value of money.
  • Creditworthiness of the Counterparties: The risk that the Counterparties which provide Flexi 100 with exposure to Reference Assets do not meet their obligations.
  • Foreign exchange fluctuations: The risk that AUD:USD foreign exchange rate movements may negatively affect returns from the Asian Equity and US Equity Classes during the investment term.
  • Early termination: Your exposure to the Reference Asset may be terminated prior to the Maturity of the Units in a number of circumstances outlined in the PDS. These can include a material change in the Swap Counterparty’s cost of hedging or ability to hedge its exposure, a change in the liquidity of the Reference Asset or a change in law (amongst other factors). In such circumstances, the Swap Counterparty may seek to terminate the Swap Agreement early. If this occurs investors will be required to repay the Investment Loan and any Interest Loan (with any break costs), investors’ units will be redeemed, investors will no longer have exposure to the Reference Asset or an entitlement to any further Distributions. Investors will not receive a refund of any prepaid interest.
  • Interest deductibility: The Australian Tax Office may adopt a position leading to the denial of part or all of your tax deductions for some or all of your interest expenses in relation to your investment.

Please note that Flexi 100 does not invest directly in the underlying Reference Asset, but obtains exposure through a Swap Agreement and Collateral Arrangement. An investment may be subject to any additional risks that arise. Accordingly, before investing in the Fund and taking out a Loan(s), an investor should carefully consider the risks outlined in the Risks Section of the PDS and consult their financial adviser.

Information for existing investors

Advisers and investors can view more information about their investment by logging in to our secure online portal.

How to login

Login to the secure online portal with your Macquarie Access Code (MAC) and password.

  • Step 1 - Copy and paste www.macquarie.com.au into your web browser
  • Step 2 - Under 'Registered users login' click Advisers or Personal
  • Step 3 - Click 'Login'. (Note: If you are an adviser, please select Alternative Investments)
  • Step 4 - Enter your Macquarie Access Code (MAC) and password.

If you do not have a MAC and password, please contact us on free call 1800 080 033 or email structuredinvestments@macquarie.com. We will arrange to send you your new login details.

Current offer

Welcome to the Adviser website for the Macquarie Flexi 100 Trust (Flexi 100). Here you will find a range of helpful tools for Flexi 100. If you would like more information or to arrange an appointment with one of our Business Development Managers, please do not hesitate to contact us.

June 2013 offer information (includes the Product Disclosure Statement (PDS) and Application Form)

This document provides detailed information about the current offer, the investment opportunities and investment terms available.

Product flyer

This flyer provides a brief overview of Flexi 100 including a summary of the investment, key features, benefits and risks. Please note that this is not a substitute for reading the PDS in its entirety.

Please click here if you would like to order hard copies of the June 2013 offer information and product flyer.

Product Ruling

The Australian Taxation Office has issued a Product Ruling for Flexi 1004. For investors who meet the requirements outlined in the Product Ruling, this provides certainty around particular tax consequences:

  • Interest on the Limited Recourse Investment Loan will be deductible up to the applicable benchmark interest rate in the capital protected borrowing rules
  • Interest on the Interest Loan (where applicable) should be fully deductible, as the capital protected borrowing rules do not apply to this Loan.

Investors should refer to the relevant Product Ruling for more information and seek their own tax advice on the application of the Product Ruling to their own specific circumstances.

View the latest Product Ruling (PR 2011/19).

Adviser login

Simply complete your details by using the login button below to access a range of adviser tools including:

  • Product calculator
  • Presentation
  • Product summaries
  • Research reports.

Login

Product calculator

Flexi 100 calculator
Use this calculator to help you understand the cashflows for an investment in Flexi 100, based on some assumptions. Please ensure you understand the limitations and assumptions when using the calculator and its outputs – these are set out in the Important Notice section of the calculator.

Presentations

Adviser presentation
These slides have been created to provide you with an overview and further understanding of Flexi 100.

Product introduction slides
You can use the information contained in these slides to create presentations for your clients.

Tools7

Product introduction
This document provides a snapshot of Flexi 100. The information may assist you in creating your own product documents for your clients.

Product summary
This document provides a summary of the information in the PDS. The information may assist you in creating your own product documents for your clients. Please note that this is not a substitute for reading the PDS in its entirety.

Application Form Checklist
This guide outlines all the mandatory information that must be completed when submitting the Macquarie Flexi 100 Application Form in order for it to be processed.

Research reports

Lonsec research report
This report contains a summary of Lonsec's observations and conclusions about Flexi 100, which was awarded a Recommended rating. Please visit the Lonsec website for more information - lonsec.com.au

Learn more

Product exam
This exam comprises multiple choice questions ideal for those wanting to expand their knowledge of Flexi 100. Please note this test is not accredited for points for continuing professional development by the Financial Planning Association.

Xanthe Virtue, Division Director, provides an overview of the features, risks and current investment opportunities presented in the June 2013 offer of the Macquarie Flexi 100 Trust.

Updates

3 Apr 2013 - Addendum to Product Ruling PR 2010/17 (June 2010 offer)

The Australian Taxation Office has issued an Addendum to Product Ruling PR 2010/171 for the Limited Recourse Investment Loan for the June 2010 offer of the Macquarie Flexi 100 Trust.

The Addendum amends the Product Ruling to reflect the enactment of the benchmark rate in Division 247 of the Tax Act as well as the ATO’s updated view in relation to the deductibility of interest on an Interest Loan: 

  • Interest on a Limited Recourse Investment Loan is deductible up to the adjusted loan rate prescribed in Division 247, being the RBA’s Indicator Lending Rate for Standard Variable Housing Loans plus 100 basis points. Previously, the Product Ruling stated the relevant rate was the RBA’s Indicator Rate for Variable Personal Unsecured Loans
  • Where interest on a Limited Recourse Investment Loan is funded using an Interest Loan, interest on that Interest Loan is fully deductible. Previously, the Product Ruling stated interest on the Interest Loan would only be deductible to the extent that it is not reasonably attributable to the cost of capital protection.

Product Ruling 2010/16, which covers Full Recourse Investment Loans and associated Interest Loans, is not affected. 

It is important to note that original Product Rulings PR 2010/161 and PR 2010/17 still apply to the investment opportunities in the June 2010 Offer of the Macquarie Flexi 100 Trust.

PR 2010/17A1 - Limited Recourse Investment Loan

1 Product Rulings PR 2010/16 and PR 2010/17 are only rulings on the application of taxation law and in no way express or imply a guarantee or endorsement of the commercial viability of the Macquarie Flexi 100 Trust, of the soundness or otherwise of the Macquarie Flexi 100 Trust as an investment, or of the reasonableness or commerciality of any fees charged in connection with the Macquarie Flexi 100 Trust. The Product Rulings are only binding on the Commissioner of Taxation if the investments in the Macquarie Flexi 100 Trust are implemented in the specific manner provided in the relevant Product Ruling.

3 Apr 2013 - Change to Swap Start Date for June 2013 Grimsey Classes

The Swap Start Date for Classes PMI1A, PMI1B, PMF1A and PMF1B has been changed from 12 July 2013 to 10 July 2013.

3 Apr 2013 - Reduction of Responsible Entity Fee

For all Macquarie Flexi 100 Trust classes issued between 30 June 2009 and 30 November 2012, the Responsible Entity fee payable to Macquarie Financial Products Management Limited has been reduced from 0.5125% pa to 0.3135% pa (inclusive of GST net of any reduced input tax credit), effective from 1 February 2013.

The Responsible Entity fee is funded by excess payments received under the Collateral Agreement.

19 Dec 2012 - Initial Investment Levels for the November 2012 Offer

The final details of the Performance Caps, Initial Investment Levels, Constituent Start Levels and AUD/USD foreign exchange rates for the November 2012 Offer are provided below. Note that the final Performance Caps are the same as the indicative caps included in the November 2012 Offer information.

Fixed Distribution Classes – 3.5 year term

  Class BX
Australian Equity Focus (No Hurdle) 		Class BY
Asian Alpha
Initial Investment Level 100.001 1,704.60
Initial exchange rate n/a 1.043
Hurdle 100.0% 112.5%
Hurdle Investment Level 100.00 1,917.68
Performance Cap 30%2 uncapped3
Term Performance Cap Investment Level n/a n/a
Fixed Distribution Classes – 5.5 year term
  Class CA
Australian Equity (No Hurdle)
Initial Investment Level 4,506.00
Initial exchange rate n/a
Hurdle 100.0%
Hurdle Investment Level 4,506.00
Performance Cap 50%3
Term Performance Cap Investment Level 6,759.00

1 Please see tables below for the Constituent Start Levels of the Reference Asset Constituents for Class BX.
2 Class BX uses a Share Performance Cap, which applies to the performance of each Reference Asset Constituent. Please see the tables below for the Share Performance Cap Levels of the Reference Asset Constituents for Class BX.
3 Class CA uses a Term Performance Cap.

Classes BX - Australian Equity Focus Basket 

Reference Asset Constituent Constituent Start Level Weight Constituent Share Performance Cap Level
AMC Amcor Ltd 7.90 5% 10.27
AMP AMP Ltd 4.60 5% 5.98
ANZ Aust and NZ Banking Group 24.36 5% 31.67
BHP BHP Billiton Ltd 34.39 5% 44.71
BXB Brambles Ltd 7.24 5% 9.41
CBA Commonwealth Bank Of Australia 59.69 5% 77.60
CSL CSL Ltd 51.70 5% 67.21
NAB National Australia Bank Ltd 24.30 5% 31.59
NCM Newcrest Mining Ltd 25.65 5% 33.35
ORG Origin Energy Ltd 10.98 5% 14.27
QBE QBE Insurance Group Ltd 10.94 5% 14.22
RIO Rio Tinto Ltd 58.75 5% 76.38
STO Santos Ltd 11.14 5% 14.48
SUN Suncorp Group Ltd 9.69 5% 12.60
TLS Telstra Corp Ltd 4.31 5% 5.60
WES Wesfarmers Ltd 35.55 5% 46.22
WDC Westfield Group 10.42 5% 13.55
WBC Westpac Banking Corp 25.50 5% 33.15
WPL Woodside Petroleum Ltd 33.80 5% 43.94
WOW Woolworths Ltd 29.28 5% 38.06

29 Nov 2012 - PDS Update - December 2012 Offer of Class CE

This update relates to the Product Disclosure Statement dated 14 September 2011, Supplementary Product Disclosure Statement dated 16 November 2012 and Website Offer Document dated 16 November 2012 (together, PDS) issued by Macquarie Financial Products Management Limited (ABN 38 095 135 694, AFSL 237847) in respect of the December 2012 offer of the Macquarie Flexi 100 Trust and should be read together with the PDS.

The PDS is updated due to a change in the way in which the Class CE Units will be valued. The changes are as follows:

  • On page 2 of the Website Offer Document, footnote 5 is deleted and amended as follows: The Unit value on each Unit Valuation Date throughout the entire Term will reflect the market value of the Investment Linked Swap Arrangements. This means the Unit value may be greater than AUD1.00 per Unit.
  • Sections 1.3(d) and 3.6.1 of the Product Disclosure Statement dated 14 September 2011 are also updated in relation to this December 2012 Offer of Class CE Units by adding the following new paragraph: For Class CE Units, if you exercise the Walk-Away feature of the Investment Loan before the first anniversary of the Unit Issue Date, the value of your Units will reflect the market value of the Investment Linked Swap Arrangements.

15 Nov 2012 - Changes to Macquarie Asian Alpha Fund Exposure Limits

The fund manager of the Macquarie Asian Alpha Fund (the Fund) has made the following changes to the Fund’s investment guidelines effective from 1 November 2012:

  • Increase in the Fund's gross exposure limit from 300% to 400% of the amount invested in the Fund;
  • The effective net exposure limit of 30% of the amount invested in the Fund has been replaced with a beta-adjusted net limit of between +20% and -20%. Note that the hard net exposure limit remains at 45% of the amount invested in the Fund.

These changes are designed to enhance the fund manager’s ability to manage the portfolio in a manner consistent with its stated investment strategy.

For more information, please see the PDS relevant to your investment:

Macquarie Flexi 100 Trust Classes PDS Section
Classes I, L and N 18 March 2010 2.1.2
Classes W, AB and AN 13 September 2010 2.2.3
Classes BL, BQ, BW, BY and CD 14 September 2011 2.4

25 Oct 2012 - Initial Investment Levels for the September 2012 Offer

The final details of the Performance Caps, Initial Investment Levels, Constituent Start Levels and AUD/USD foreign exchange rates for the September 2012 Offer are provided below. Note that the final Performance Caps are the same as the indicative caps included in the September 2012 Offer information.

Fixed Distribution Classes – 3.5 year term

  Class BV
Australian Equity Focus 		Class BW
Asian Alpha
Initial Investment Level 100.001 1,680.96
Initial exchange rate n/a 1.031
Hurdle 112.5% 112.5%
Hurdle Investment Level 112.50 1,891.08
Performance Cap 65%2 uncapped3
Term Performance Cap Investment Level n/a n/a

1 Please see tables below for the Constituent Start Levels of the Reference Asset Constituents for Class BV.
2 Class BW uses a Term Performance Cap.
3 Class BV uses a Share Performance Cap, which applies to the performance of each Reference Asset Constituent. Please see the tables below for the Share Performance Cap Levels of the Reference Asset Constituents for Class BV.

Classes BV - Australian Equity Focus Basket

Reference Asset Constituent Constituent Start Level Weight Constituent Share Performance Cap Level
AMC Amcor Ltd 7.97 5% 13.15
AMP AMP Ltd 4.43 5% 7.31
ANZ Aust and NZ Banking Group 24.99 5% 41.23
BHP BHP Billiton Ltd 33.54 5% 55.34
BXB Brambles Ltd 7.00 5% 11.55
CBA Commonwealth Bank Of Australia 56.04 5% 92.47
CSL CSL Ltd 45.92 5% 75.77
NAB National Australia Bank Ltd 25.81 5% 42.59
NCM Newcrest Mining Ltd 29.31 5% 48.36
ORG Origin Energy Ltd 11.50 5% 18.98
QBE QBE Insurance Group Ltd 13.20 5% 21.78
RIO Rio Tinto Ltd 53.98 5% 89.07
STO Santos Ltd 11.55 5% 19.06
SUN Suncorp Group Ltd 9.23 5% 15.23
TLS Telstra Corp Ltd 3.92 5% 6.47
WES Wesfarmers Ltd 34.26 5% 56.53
WDC Westfield Group 10.22 5% 16.86
WBC Westpac Banking Corp 25.16 5% 41.51
WPL Woodside Petroleum Ltd 33.56 5% 55.37
WOW Woolworths Ltd 29.00 5% 47.85

14 Sep 2012 - Confirmation of interest rates for Classes BU - BW

The invitation by Macquarie Financial Products Management Limited entitled "Macquarie Flexi 100 Trust September 2012 offer details" (September 2012 Offer) to apply for units in the Macquarie Flexi 100 Trust, relating to the Product Disclosure Statement dated 14 September 2011, Supplementary Product Disclosure Statement dated 8 May 2012 and Website Offer Document dated 1 August 2012, included indicative interest rate information that was to be finalised on or around 14 September 2012. Final interest rate details are now provided below.

Interest Rates 

The actual interest rates to apply for the Loans for the period 30 September 2012 to 29 September 2013 are as follows:

Unit Class Loan Interest Rate*
All Classes Limited Recourse Investment Loan 7.95% pa
All Classes Interest Loan 10.70% pa

* for the period 30 September 2012 to 29 September 2013

10 Sep 2012 - Update for potential investors in Classes BU - BW

Because 1 October 2012 and 30 March 2018 are public holidays, we advise changes to the following dates.

The Swap Start Date for Classes BU and BV has changed from 1 October 2012 to 2 October 2012.

The Maturity Date and final Distribution Date for Class BU have changed from 30 March 2018 to 29 March 2018.

For more information, please find a download link to the September 2012 offer information under the ‘Current offer’ tab.

20 Jul 2012 - Initial Investment Levels for the June 2012 Offer

The final details of the Performance Caps, Initial Investment Levels, Constituent Start Levels and AUD/USD foreign exchange rates for the June 2012 Offer are provided below. Note that the final Performance Caps are the same as the indicative caps included in the June 2012 Offer information.

Fixed Distribution Classes - 5.5 year term

  Class BF
Australian Equity 		Class BG
Australian Equity
(No Hurdle) 		Class BH
US Equity 		Classes BN and BT
Australian Equity Focus
(No Hurdle)
Initial Investment Level 4,082.25 4,082.25 1,356.78 100.001
Initial exchange rate n/a n/a 1.0167 n/a
Hurdle 116.5% 100.0% 116.5% 100.0%
Hurdle Investment Level 4,755.82 4,082.25 1,580.65 100.00
Performance Cap uncapped2 50%2 uncapped2 50%3
Term Performance Cap Investment Level uncapped 6,123.38 uncapped n/a
Fixed Distribution Classes - 3.5 year term
  Classes BI and BR
Australian Equity Focus 		Classes BJ and BS
Australian Equity Focus
(No Hurdle) 		Class BK
Asian Equity 		Classes BL and BQ
Asian Alpha 		Class BM
Best-of Basket
Initial Investment Level 100.001 100.001 100.001 1,651.74 100.001
Initial exchange rate n/a n/a 1.0167 1.0178 n/a
Hurdle 112.5% 100.0% 112.5% 112.5% 112.5%
Hurdle Investment Level 112.50 100.0 112.50 1,858.21 112.50
Performance Cap 65%3 30%3 65%2 uncapped2 uncapped2
Term Performance Cap Investment Level n/a n/a 165.00 uncapped uncapped

1 Please see tables below for the Constituent Start Levels of the Reference Asset Constituents for Classes BI, BJ, BK, BM, BN, BR, BS and BT.

2 Classes BF, BG, BH, BK, BL, BM and BQ use a Term Performance Cap.

3 Classes BI, BJ, BN, BR, BS and BT use a Share Performance Cap, which applies to the performance of each Reference Asset Constituent. Please see the tables below for the Share Performance Cap Levels of the Reference Asset Constituents for Classes BI, BJ, BN, BR, BS and BT.

Classes BI, BJ, BN, BR, BS and BT – Australian Equity Focus Basket

Reference Asset Constituent Constituent Start
Level 		Constituent Share Performance Cap Level
Classes
BI and BR 		Classes
BJ and BS 		Classes
BN and BT
AMC Amcor Ltd 7.29 12.03 9.48 10.94
AMP AMP Ltd 3.80 6.270 4.94 5.70
ANZ Aust and NZ Banking Group 22.35 36.88 29.06 33.53
BHP BHP Billiton Ltd 30.48 50.29 39.62 45.72
BXB Brambles Ltd 6.08 10.03 7.90 9.12
CBA Commonwealth Bank Of Australia 53.77 88.72 69.90 80.66
CSL CSL Ltd 39.11 64.53 50.84 58.67
NAB National Australia Bank Ltd 23.60 38.94 30.68 35.40
NCM Newcrest Mining Ltd 21.15 34.90 27.50 31.73
ORG Origin Energy Ltd 12.01 19.82 15.61 18.02
QBE QBE Insurance Group Ltd 13.42 22.14 17.45 20.13
RIO Rio Tinto Ltd 54.08 89.23 70.30 81.12
STO Santos Ltd 10.37 17.11 13.48 15.56
SUN Suncorp Group Ltd 8.19 13.51 10.65 12.29
TLS Telstra Corp Ltd 3.84 6.34 4.99 5.76
WES Wesfarmers Ltd 30.77 50.77 40.00 46.16
WDC Westfield Group 9.61 15.86 12.49 14.42
WBC Westpac Banking Corp 22.05 36.38 28.67 33.08
WPL Woodside Petroleum Ltd 30.30 50.00 39.39 45.45
WOW Woolworths Ltd 26.94 44.45 35.02 40.41
Class BK – Asian Equity Basket
Reference Asset Constituent Constituent Start Level Weight
Tracker Fund of Hong Kong 19.58 20%
Hang Seng H-Share Index ETF 93.85 20%
MSCI Taiwan Index 250.92 20%
MSCI Singapore Cash Index 344.11 20%
KOSPI 200 Index 238.77 20%
Class BM – Best-of Basket
Reference Asset Constituent Constituent Start Level ASX Tilt Weight PIMCO Tilt Weight
S&P/ASX 200 Index 4082.25 60% 20%
PIMCO GIS Total Return Bond Fund 24.52 20% 60%
Winton Global Alpha Fund 1.1608 20% 20%

26 Jun 2012 - Confirmation of interest rates for Classes BF - BT

The invitation by Macquarie Financial Products Management Limited entitled "Macquarie Flexi 100 Trust June 2012 offer details" (June 2012 Offer) to apply for units in the Macquarie Flexi 100 Trust, relating to the Product Disclosure Statement dated 14 September 2011, Supplementary Product Disclosure Statements dated 24 April 2012, 26 April 2012 and 8 May 2012, and Website Offer Documents dated 10 April 2012 and 29 May 2012, included indicative interest rate information that was to be finalised on or around 26 June 2012. Final interest rate details are now provided below.

Interest Rates

The actual interest rates to apply for the Loans for the period 30 June 2012 to 29 June 2013 are as follows:

Unit Class Loan Interest Rate*
Classes BF-BN Limited Recourse Investment Loan 7.95% pa
Classes BP-BS Limited Recourse Investment Loan 7.70% pa
Class BT Limited Recourse Investment Loan 7.60% pa
All Classes Interest Loan 10.70% pa

*for the period 30 June 2012 to 29 June 2013

24 May 2012 - Reference Asset Constituents update for Distribution Period 2 of Class AQ

For Class AQ, new Reference Asset Constituents for the Commodities Select Portfolio have been selected for Distribution Period 2. This Distribution Period starts on 15 June 2012 and ends on 14 June 2013. These Reference Asset Constituents are set out in the table below.
Reference Asset Constituents Commodities Sector Bloomberg Ticker
Brent Crude Oil Energy CO1 Comdty
Gold Precious Metals GOLDLNPM Index
LME Zinc Base Metals LOZSDY Comdty
Platinum Precious Metals PLTMLNPM Comdty
Silver Precious Metals SLVRLN Comdty
Constituent start level information for the above Reference Asset Constituents will be available after the Distribution Period 2 start date. For more information, see Section 2.2.6 of the Macquarie Flexi 100 Trust Product Disclosure Statement dated 13 September 2010 together with the Supplementary Product Disclosure Statement dated 6 April 2011.

4 Apr 2012 - Initial Investment Levels for the March 2012 Offer

Final details of the Performance Caps, Initial Investment Levels, Constituent Start Levels and AUD/USD foreign exchange rates for the March 2012 Offer are now provided below. Note that the final Performance Caps are the same as the indicative caps included in the March 2012 Offer.

Fixed Distribution Classes - 5.5 year term

  Class AZ
Australian Equity
(No Hurdle) 		Class BA
US Equity
Initial Investment Level 4,329.30 1,419.04
Initial exchange rate n/a 1.0395
Hurdle 100% 122%
Hurdle Investment Level 4,329.30 1,731.23
Term Performance Cap 50% uncapped
Term Performance Cap Investment Level 6,493.95 uncapped
Fixed Distribution Classes - 3.5 year term
  Class BB
Australian Equity Focus 		Class BC
Australian Equity Focus
(No Hurdle)
Initial Investment Level 100.0* 100.0*
Initial exchange rate n/a n/a
Hurdle 116.25% 100%
Hurdle Investment Level 116.25 100
Share Performance Cap 65%** 30%**

* Please see tables below for the Constituent Start Levels of the Reference Asset Constituents for Classes BB and BC.

** The Share Performance Cap applies to the performance of each Reference Asset Constituent. Please see table below for the Share Performance Cap Levels of the Reference Asset Constituents for Classes BB and BC.

Classes BB and BC - Australian Equity Focus Basket

Reference Asset Constituent Constituent Start Level Constituent Share Performance Cap Level - Class BB Constituent Share Performance Cap Level - Class BC Weight
AMC Amcor Ltd 7.46 12.31 9.70 5%
AMP AMP Ltd 4.25 7.01 5.53 5%
ANZ Aust and NZ Banking Group 23.06 38.05 29.98 5%
BHP BHP Billiton Ltd 35.12 57.95 45.66 5%
BXB Brambles Ltd 6.97 11.5 9.06 5%
CBA Commonwealth Bank Of Australia 49.95 82.42 64.94 5%
CSL CSL Ltd 35.52 58.61 46.18 5%
NAB National Australia Bank Ltd 24.49 40.41 31.84 5%
NCM Newcrest Mining Ltd 29.50 48.68 38.35 5%
ORG Origin Energy Ltd 13.22 21.81 17.19 5%
QBE QBE Insurance Group Ltd 14.04 23.17 18.25 5%
RIO Rio Tinto Ltd 66.19 109.21 86.05 5%
STO Santos Ltd 14.29 23.58 18.58 5%
SUN Suncorp Group Ltd 8.22 13.56 10.69 5%
TLS Telstra Corp Ltd 3.27 5.40 4.25 5%
WES Wesfarmers Ltd 29.91 49.35 38.88 5%
WDC Westfield Group 8.85 14.60 11.51 5%
WBC Westpac Banking Corp 21.72 35.84 28.24 5%
WPL Woodside Petroleum Ltd 35.36 58.34 45.97 5%
WOW Woolworths Ltd 25.64 42.31 33.33 5%

25 Jan 2012 - Adjustment Event for Australian Equity Focus Classes (Foster's Group Limited)

This update only affects investors in Classes V, Y, AF and AM (Relevant Classes) of the Macquarie Flexi 100 Trust (Trust). Note that Class AV from the November 2011 offer is not affected, as Foster’s Group Limited is not included in that basket.

The Reference Asset for the Relevant Classes is the Australian Equity Focus Basket. The Australian Equity Focus Basket is a fixed basket comprising 20 shares listed on the ASX with large market capitalisation as at the date of the relevant product disclosure statement (PDS).

The Australian Equity Basket for the Relevant Classes included Foster's Group Limited (Fosters) as one of the 20 shares in the basket.

On 16 December 2011, Fosters was acquired by SABMiller plc through a 100% share acquisition, completed at a price of $5.40 per fully paid share. For the Relevant Classes this takeover constituted an adjustment event for the purposes of the Swap Agreement between the Trust and Macquarie Bank Limited (Macquarie), as Swap Counterparty.

As described in the PDS, Macquarie has broad discretions to adjust the terms of the Swap Agreement for the Relevant Classes to preserve the broad economic equivalence of the rights and obligations of the Trust and Macquarie prior to the adjustment event. With effect from the relevant Swap Start Date for the Relevant Classes, Macquarie exercised its discretion to adjust the Australian Equity Focus Basket by:

  • Removing Fosters as a Reference Asset Constituent, so that there are only 19 shares remaining in the basket and
  • Increasing the Weight of each share from 5% to 5.263% (being 1/19th).

5 Dec 2011 - Initial Investment Levels for the November 2011 Offer

Final details of the Performance Caps, Initial Investment Levels, Constituent Start Levels and AUD/USD foreign exchange rates for the November 2011 Offer are now provided below. Note that the final Performance Caps are the same as the indicative caps included in the November 2011 Offer.

Fixed Distribution Classes - 5.5 year term

  Class AS
Australian Equity 		Class AT
Australian Equity
(No Hurdle) 		Class AU
Asian Equity
Initial Investment Level 4119.80 4119.80 100*
Initial exchange rate n/a n/a 1.0019
Hurdle 122% 100% 122%
Hurdle Investment Level 5026.16 4119.80 122
Term Performance Cap Uncapped 50% Uncapped
Term Performance Cap Investment Level Uncapped 6179.70 Uncapped

* Please see tables below for the Constituent Start Levels of the Reference Asset Constituents for Class AU.

Fixed Distribution Class - 3.5 year term

  Initial Investment Level Initial exchange rate Hurdle Hurdle Investment Level Share Performance Cap
Class AV
Australian Equity Focus 		100.0* n/a 116.25% 116.25 65%**

* Please see tables below for the Constituent Start Levels of the Reference Asset Constituents for Class AV.

** The Share Performance Cap applies to the performance of each Reference Asset Constituent. Please see table below for the Share Performance Cap Levels of the Reference Asset Constituents for Class AV.

Class AU - Asian Equity Basket

Reference Asset Constituent Constituent Start Level Weight
Tracker Fund of Hong Kong 18.10 20%
Hang Seng H-Share Index ETF 96.30 20%
MSCI Taiwan Index 247.36 20%
MSCI Singapore Cash Index 307.35 20%
KOSPI 200 Index 241.19 20%
Class AV - Australian Equity Focus Basket
Reference Asset Constituent Constituent Start Level Constituent Share Performance Cap Level Weight
AMC Amcor Limited 7.26 11.98 5%
AMP AMP Ltd 4.15 6.85 5%
ANZ Aust and NZ Banking Group 19.90 32.84 5%
BHP BHP Billiton Ltd 34.92 57.62 5%
BXB Brambles Ltd 7.06 11.65 5%
CBA Commonwealth Bank Of Australia 47.40 78.21 5%
CSL CSL Ltd 31.19 51.46 5%
NAB National Australia Bank Ltd 23.41 38.63 5%
NCM Newcrest Mining Ltd 34.60 57.09 5%
ORG Origin Energy Ltd 14.16 23.36 5%
QBE QBE Insurance Group Ltd 13.46 22.21 5%
RIO Rio Tinto Ltd 62.95 103.87 5%
STO Santos Ltd 13.08 21.58 5%
SUN Suncorp Group Ltd 8.23 13.58 5%
TLS Telstra Corp Ltd 3.16 5.21 5%
WES Wesfarmers Ltd 30.49 50.31 5%
WDC Westfield Group 8.20 13.53 5%
WBC Westpac Banking Corp 20.57 33.94 5%
WPL Woodside Petroleum Ltd 32.80 54.12 5%
WOW Woolworths Ltd 24.62 40.62 5%

30 Nov 2011 - Addenda to Product Rulings PR 2010/25 and PR 2010/26 (June 2011 offer)

The Australian Taxation Office has issued Addenda to Product Rulings1 PR 2010/25 for the Limited Recourse Investment Loan and PR 2010/26 for the Full Recourse Investment Loan for the June 2011 offer of Flexi 100.

The Addenda amend these Product Rulings to include the Investment Opportunities and features outlined in the Supplementary Product Disclosure Statement dated 6 April 2011.

It is important to note that original Product Rulings PR 2010/25 and PR 2010/26 still apply to the investment opportunities in the Product Disclosure Statement dated 13 September 2010.

PR 2010/25A1 - Limited Recourse Investment Loan

PR 2010/26A1 - Full Recourse Investment Loan

1 Product Rulings PR 2010/25 and PR 2010/26 are only rulings on the application of taxation law and in no way expresses or implies a guarantee or endorsement of the commercial viability of the Macquarie Flexi 100 Trust, of the soundness or otherwise of the Macquarie Flexi 100 Trust as an investment, or of the reasonableness or commerciality of any fees charged in connection with the Macquarie Flexi 100 Trust. The Product Ruling is only binding on the Commissioner of Taxation if the investments in the Macquarie Flexi 100 Trust are implemented in the specific manner provided in the Product Ruling.

16 Nov 2011 - Product Ruling PR 2011/19 applying to the PDS dated 14 September 2011

The Australian Taxation Office has issued a Product Ruling1 for the Limited Recourse Investment Loan (PR 2011/19). The Product Ruling applies to the Investment Opportunities and features outlined in the Product Disclosure Statement dated 14 September 2011.

Click here to view the Product Ruling.

1 Product Ruling PR 2011/19 is only ruling on the application of taxation law and in no way expresses or implies a guarantee or endorsement of the commercial viability of the Macquarie Flexi 100 Trust, of the soundness or otherwise of the Macquarie Flexi 100 Trust as an investment, or of the reasonableness or commerciality of any fees charged in connection with the Macquarie Flexi 100 Trust. The Product Ruling is only binding on the Commissioner of Taxation if the investments in the Macquarie Flexi 100 Trust are implemented in the specific manner provided in the Product Ruling.

18 Jul 2011 - Initial Investment Levels for the June 2011 Offer

Final details of the Performance Caps, Initial Investment Levels, Constituent Start Levels and AUD/USD foreign exchange rates for the June 2011 Offer are now provided below. Note that the final Performance Caps are the same as the indicative caps included in the June 2011 Offer.

5.5 Year Fixed Distribution Classes

  Class AI
Australian Equity 		Class AJ
Asian Equity 		Class AK
US Equity 		Class AL
BRIC Equity
Initial Investment Level 4490.70 100.0* 1308.87 100.0*
Initial exchange rate n/a 1.0731 1.0731 1.0731
Hurdle 122% 122% 122% 122%
Hurdle Investment Level 5478.65 122.0 1596.82 122.0
Term/Share Performance Cap Uncapped Uncapped Uncapped 100%**
Term/Share Performance Cap Investment Level Uncapped Uncapped Uncapped n/a**

* Please see tables below for the Constituent Start Levels of the Reference Asset Constituents for Classes AJ and AL.

** The Share Performance Cap applies to the performance of each Reference Asset Constituent. Please see table below for the Constituent Share Performance Cap Levels of the Reference Asset Constituents for Class AL.

3.5 Year Fixed Distribution Classes

  Class AM
Australian Equity Focus 		Class AN
Asia Long Short 		Class AR
Australian Concentrated Equity
Initial Investment Level 100.0* 1593.14 100.0*
Initial exchange rate n/a 1.0722 n/a
Hurdle 116.25% 116.25% 116.25%
Hurdle Investment Level 116.25 1852.03 116.25
Term/Share Performance Cap 65%** Uncapped 65%**

* Please see tables below for the Constituent Start Levels of the Reference Asset Constituents for Classes AM and AR.

** The Share Performance Cap applies to the performance of each Reference Asset Constituent. Please see table below for the Constituent Share Performance Cap Levels of the Reference Asset Constituents for Classes AM and AR.

Variable Distribution Classes

  Class AO
Australian Equity 		Class AP
US Equity 		Class AQ
Commodities Select
Initial Investment Level 4490.70 1308.87 100.0*
Initial exchange rate n/a 1.0731 n/a
Annual Performance Cap 17% 17% 17%
Annual Performance Cap Investment Level 5254.12 1531.38 117.00

* Please see table below for the Constituent Start Levels of the Reference Asset Constituents for Class AQ

Class AJ - Asian Equity Basket

Reference Asset Constituent Constituent Start Level Weight
Tracker Fund of Hong Kong 22.40 20%
Hang Seng H-Share Index ETF 124.30 20%
MSCI Taiwan Index 297.87 20%
MSCI Singapore Cash Index 358.49 20%
KOSPI 200 Index 278.03 20%
Class AL - BRIC Equity Basket
Reference Asset Constituent Constituent Start Level Constituent Share Performance Cap Level Weight
iShares MSCI Brazil Index Fund 69.54 139.08 25%
Market Vectors Russia ETF 38.29 76.58 25%
CNX Nifty Index 5,599.80 11,199.60 25%
Hang Seng H-Share Index ETF 124.30 248.60 25%
Class AM - Australian Equity Focus Basket
Reference Asset Constituent Constituent Start Level Constituent Share Performance Cap Level Weight
AMC Amcor Limited 6.98 11.52 5%
AMP AMP Ltd 4.67 7.71 5%
ANZ Aust and NZ Banking Group 20.98 34.62 5%
BHP BHP Billiton Ltd 43.60 71.94 5%
BXB Brambles Ltd 7.06 11.65 5%
CBA Commonwealth Bank Of Australia 49.02 80.88 5%
CSL CSL Ltd 32.74 54.02 5%
FGL Foster's Group Ltd 5.09 8.40 5%
NAB National Australia Bank Ltd 23.46 38.71 5%
NCM Newcrest Mining Ltd 39.80 65.67 5%
ORG Origin Energy Ltd 15.06 24.85 5%
QBE QBE Insurance Group Ltd 16.89 27.87 5%
RIO Rio Tinto Ltd 80.95 133.57 5%
SUN Suncorp-Metway Ltd 7.77 12.82 5%
TLS Telstra Corp Ltd 2.98 4.92 5%
WBC Westpac Banking Corp 20.77 34.27 5%
WDC Westfield Group 8.42 13.89 5%
WES Wesfarmers Ltd 30.02 49.53 5%
WOW Woolworths Ltd 27.40 45.21 5%
WPL Woodside Petroleum Ltd 40.04 66.07 5%
Class AR - Australian Concentrated Equity Basket
Reference Asset Constituent Constituent Start Level Constituent Share Performance Cap Level Weight
ANZ Australia and New Zealand Bank 20.98 34.62 8%
BHP BHP Billiton Ltd 43.60 71.94 8%
CBA Commonwealth Bank of Australia 49.02 80.88 7%
NAB National Australia Bank Ltd 23.46 38.71 7%
NCM Newcrest Mining Ltd 39.80 65.67 8%
ORG Origin Energy Ltd 15.06 24.85 8%
OSH Oil Search Ltd 6.61 10.91 8%
RIO RIO Tinto Ltd 80.95 133.57 8%
STO Santos Ltd 13.25 21.86 8%
WBC Westpac Banking Corp 20.77 34.27 7%
WES Wesfarmers Ltd 30.02 49.53 7%
WOR WorleyParsons Ltd 28.60 47.19 8%
WPL Woodside Petroleum Ltd 40.04 66.07 8%
Class AQ - Commodities Select Basket
Reference Asset Constituent Constituent Start Level Weight
Corn 724.00 20%
Gold 1,590.50 20%
LME Copper 9,610.25 20%
Soybeans 1,390.25 20%
WTI Crude Oil 95.69 20%

18 Jul 2011 - Change to Benchmark Interest Rate for Capital Protected Borrowings passed

Division 247 of the Income Tax Assessment Act 1997 applies to certain "capital protected borrowings" entered into on or after 1 July 2007. Division 247 will deny a deduction for expenses incurred under a capital protected borrowing to the extent that the total of the expenses referable to the borrowing for an income year exceeds the amount that would have been incurred if the benchmark rate in Division 247 had been applied.

Division 247 will apply for investors who take out a Limited Recourse Investment Loan to invest in the Macquarie Flexi 100 Trust.

As part of the 2010-11 Federal Budget, the Assistant Treasurer announced that the benchmark interest rate for capital protected borrowings will be changed, and the new benchmark interest rate that applies to capital protected borrowings entered into from 7:30pm (AEST) 13 May 2008 will be the Reserve Bank indicator rate for standard variable housing loans plus 100 basis points. The Bill containing the change has been enacted. The new benchmark interest rate for the month of June 2011 is 8.80% p.a.1

1 Please note that the benchmark interest rate for June 2011 is provided for illustrative purposes only and is not an indication of the actual benchmark interest rate that will apply to your borrowing. Investors should use the benchmark interest rate at the time the first of the Total Expenses is incurred for the relevant part of the borrowing term.

27 Jun 2011 - Confirmation of interest rates for Classes AI to AR

The invitation by Macquarie Financial Products Management Limited entitled "Macquarie Flexi 100 Trust June 2011 offer details" (June 2011 Offer) to apply for units in the Macquarie Flexi 100 Trust, relating to the Product Disclosure Statement dated 13 September 2010 and Supplementary Product Disclosure Statement dated 6 April 2011, included indicative interest rate information that was to be finalised on or around 27 June 2011. Final interest rate details are now provided below. Note that the final interest rates are the same as the indicative interest rates included in the June 2011 Offer.

Interest Rates

The actual interest rates to apply for the Loans for the period 30 June 2011 to 29 June 2012 are as follows:

Loan Interest Rate*
Limited Recourse Investment Loan 9.10% pa
Full Recourse Investment Loan 8.85% pa
Interest Loan 10.95% pa

* for the period 30 June 2011 to 29 June 2012

16 Jun 2011 - Distributions payable for June 2009 and June 2010 Offers

Clients invested in the June 2009 and June 2010 offers of the Macquarie Flexi 100 Trust are entitled to the distributions listed below for this distribution period.

Fixed Distributions

The following fixed distributions are payable for this distribution period.

Class Distributions per unit
A- Australian Equity $0.045
B- US Equity $0.045
C- Volatility Adjusted $0.060
H - Australian Equity $0.040
I - Asia Long Short $0.040
J - Asian Equity $0.040
K - Global Infrastructure $0.040
L - Asia Long Short $0.065
Q - Australian Equity $0.040

Note that these distributions will only be payable to Investors who have chosen not to exercise the Walk-Away feature of the Investment Loan on or before 1 July 2011 (for Classes A, B, and C), or 30 June 2011 (Classes H, I, J, K, L and Q).

For investors in Classes H, I, J, K and L, these distributions will be automatically applied to pay some or all of the interest payable on Investment Loans due on 30 June 2011.

Variable Distributions

The following variable distributions are payable for this distribution period.

Class Distributions per unit
M - Australian Equity $0.0234
N - Asia Long Short $0.1327
O - Asian Equity $0.0822
P - Global Infrastructure $0.0598
R - Australian Equity $0.0234

Note that these distributions will only be payable to Investors who have chosen not to exercise the Walk-Away feature of the Investment Loan before 29 June 2011.

For investors in Classes M, N, O and P, these distributions will be automatically applied to pay some or all of the interest payable on Investment Loans due on 30 June 2011.

31 May 2011 - Annual Performance Cap update for Classes M to P and Class R

As described in Sections 2.3.2 and 3.3 of Part I of the Product Disclosure Statement dated 18 March 2010 (for Classes M, O and P) and the Product Disclosure Statement dated 29 April 2010 (for Class R), an Annual Performance Cap of 17% of the Investment Amount per annum was placed on the potential annual distribution that investors in Class M, O, P and R Units would be entitled to receive at the end of Distribution Period 1. Class N was uncapped in Distribution Period 1.

The Annual Performance Caps to apply for Distribution Period 2 are set out in the table below. Note that Annual Performance Caps for Classes M, O, P and R have been increased to 20%, and Class N remains uncapped.

Class  Distribution Period 2 Annual Performance Cap for Distribution Period 2
M - Australian Equity (Variable Distribution Class) 16 June 2011 - 15 June 2012 20%
N - Asia Long Short (Variable Distribution Class) 1 June 2011 - 31 May 2012 Uncapped
O - Asian Equity (Variable Distribution Class) 16 June 2011 - 15 June 2012 20%
P - Global Infrastructure (Variable Distribution Class) 16 June 2011 - 15 June 2012 20%
R - Australian Equity (Variable Distribution Class) 16 June 2011 - 15 June 2012 20%
Annual Performance Caps for Distribution Period 3 will be advised to investors on or around 31 May 2012, and may be different to the Annual Performance Caps shown above.

19 May 2011 - Update for potential investors in Classes AI and AK

The indicative Term Performance Caps for Class AI - Australian Equity and Class AK - US Equity have changed from 100% to uncapped.

For more information please see the June 2011 offer details in the 'Current offer' tab.

11 May 2011 - Change in frequency of periodic performance reports

Effective from 30 June 2011, periodic performance reports will be made available on an annual basis, rather than on a semi-annual basis. Existing investors will receive a periodic performance report for the 6 months ending 30 June 2011. Investors' next periodic performance report will then be for the period from 1 July 2011 or the unit issue date (as applicable) and ending 30 June 2012. Note that monthly performance updates will continue to be made available on this website.

04 May 2011 - Update for existing and potential investors in Variable Distribution Classes

For all existing and potential investors in the Variable Distribution Classes of the Macquarie Flexi 100 Trust (the Fund):

  • for Classes F, G, M, N, O, P and R - the remaining Distribution Dates disclosed in the relevant product disclosure statement for the Fund have been brought forward one Business Day; and
  • for Classes AA, AO, AP and AQ - the Distribution Dates disclosed in the relevant Offer details have been brought forward one Business Day.

Accordingly, the Distribution Dates have changed as follows:

Unit Classes Previous Distribution Date New Distribution Date
M, N, O, P, R 30 June 2011 29 June 2011
30 June 2012 28 June 2012
30 June 2013 27 June 2013
F, G, AA 30 November 2011 29 November 2011
30 November 2012 29 November 2012
AA only 29 November 2013 28 November 2013
AO, AP, AQ 30 June 2012 28 June 2012
30 June 2013 27 June 2013
30 June 2014 27 June 2014
Capitalised terms in this update have the meanings given to them in the relevant product disclosure statement.

12 Apr 2011 - PDS update

An update has been made to the Product Disclosure Statement dated 13 September 2011. The fourth paragraph in Section 6.5.3 on page 65 (regarding stamp duty) is replaced with the following (new text bolded):

"If you are not a Superannuation Investor, the Mortgage given by you over the 'Mortgaged Property' (as defined in the Loan and Put Option Agreement or Loan and Security Agreement (as applicable)) will also not be liable for any mortgage duty in New South Wales on the basis that the Mortgage will not secure any property which is in existence at the time that the Mortgage is first given, provided that your Application Form is received by the Responsible Entity at least one day before the Offer Close date."

22 Sep 2010 - Reference Asset Update

As indicated in Section 2.2.3 of Part I of the Product Disclosure Statement dated 13 September 2010, the name of the MQ Asia Long Short Fund has now changed to the Macquarie Asian Alpha Fund effective 20 September 2010. This will be a change in name only, and its investment strategy will not be affected.

08 Jun 2010 - Update for existing investors

Update for Existing Investors - Limited Recourse Investment Loan - Change to Benchmark Interest Rate for Capital Protected Borrowings

Division 247 of the Income Tax Assessment Act 1997 applies to certain "capital protected borrowings" entered into on or after 1 July 2007. Division 247 will deny a deduction for expenses incurred under a capital protected borrowing to the extent that the total of the expenses referable to the borrowing for an income year exceeds the amount that would have been incurred if the benchmark rate in Division 247 had been applied.

For investors who have taken out a Limited Recourse Investment Loan to invest in the Macquarie Flexi 100 Trust, Division 247 applies to the Limited Recourse Investment Loan and Interest Loan.

As part of the 2010-11 Federal Budget, the Assistant Treasurer announced that the new benchmark interest rate that applies to capital protected borrowings entered into from 7:30pm (AEST) 13 May 2008 will be the Reserve Bank indicator rate for standard variable housing loans plus 100 basis points, instead of the Reserve Bank indicator rate for standard variable housing loans as announced in the 2008-09 Federal Budget. As at the date of this update, the most recent Reserve Bank indicator rate for standard variable housing loans was for the month of May 2010 and was 7.40% p.a. Therefore, based on the changes announced in the 2010-11 Federal Budget, the new benchmark interest rate for the month of May 2010 would be 8.40% p.a.¹

The Government has released the draft legislation that gives effect to these changes. This draft legislation will be subject to an industry consultation period before being introduced into Parliament.

¹ Please note that the benchmark interest rate for May 2010 is provided for illustrative purposes only and is not an indication of the actual benchmark interest rate that applies to your borrowing. Investors should use the benchmark interest rate at the time the first of the Total Expenses is incurred for the relevant part of the borrowing term.

 

Indicative valuation

The following performance information is for existing investors in the Macquarie Flexi 100 Trust.

This information is subject to change without notice and is indicative only. Macquarie Financial Products Management Limited is not bound by the figures set out below and is not liable to cover any difference between the indicative valuation and the amounts payable on withdrawal. Therefore, this information is not a quote or a withdrawal price, nor does it represent a formal net asset value for the Macquarie Flexi 100 Trust. Furthermore, amounts payable on withdrawal will be subject to loan repayment obligations and (for an Interest Loan) any break costs as set out in the relevant product disclosure statement or information memorandum. An investment in the Macquarie Flexi 100 Trust is designed to be held until maturity.

The indicative valuations below may be materially different to the actual prices realised on withdrawal of an investment in the Macquarie Flexi 100 Trust. This is because the indicative valuations are based on estimated (or theoretical) values of the underlying components of the investment and not the actual value of these components at the time of withdrawal.

Past performance is not a reliable indicator of future performance.

Please click here to view the performance information.

Walk-Away

An investment in the Macquarie Flexi 100 Trust is designed to be held to maturity. However, investors may exercise the Walk-Away feature on a Walk-Away Date.

How to Walk-Away

  • Download the Walk-Away request form (all Classes)
  • Complete and sign the form
  • Send the form to Macquarie before the relevant Notification Date (set out below)

Please note Walk-Away requests cannot be withdrawn.

If an investor chooses to exercise the Walk-Away feature they will not be required to pay any further amount to the Loan Provider in respect of their Limited Recourse Investment Loan. However, they will not receive a refund of any interest prepaid on their Investment Loan. If investors have an Interest Loan, they will also be required to repay their Interest Loan plus any interest and any break costs that may be applicable to the Interest Loan. If investors have any arrears amounts outstanding, they will also be required to repay this arrears amount.

June 2009 Offer (Class A – C Units)

Walk-Away date1 Notification Date1 Unit valuation date
Last business day in September 15 August Early September
Last business day in December 15 November Early December
Last business day in March 15 February Early March
Last business day in June 15 May Early June

November 2009 Offer (Class E – G Units)

Walk-Away date1 Notification Date1 Unit valuation date
Last business day in September 15 August Early September
Second last business day in November 15 October Early November
Last business day in March 15 February Early March
Last business day in June 15 May Early June

June 2010 Offer (Class H – R Units)

Walk-Away date1 Notification Date1 Unit valuation date
Last business day in September 15 August Early September
Last business day in December 15 November Early December
Last business day in March 15 February Early March
Second last business day in June 15 May Early June

November 2010 Offer (Class U – AA Units)

Walk-Away date1 Notification Date1 Unit valuation date
Last business day in September 15 August Early September
Second last business day in November 15 October Early November
Last business day in March 15 February Early March
Last business day in June 15 May Early June

For Classes U-Z, if you exercise the Walk-Away feature of your Investment Loan on or before 30 November 2011 the value of your Units will be $1.00. From 1 December 2011 the Unit value will reflect the market value of the Investment Linked Swap Arrangements as at the date of valuation. Please refer to Section 2.6 of Part I of the Product Disclosure Statement dated 13 September 2010 and the November 2010 Offer Terms for further details.

March 2011 Offer (Class AD – AF Units)

Walk-Away date1 Notification Date1 Unit valuation date
Last business day in September 15 August Early September
Last business day in December 15 November Early December
Second last business day in March 15 February Early March
Last business day in June 15 May Early June

For Classes AD-AF, if you exercise the Walk-Away feature of your Investment Loan on or before 30 March 2012 the value of your Units will be $1.00. From 1 April 2012 the Unit value will reflect the market value of the Investment Linked Swap Arrangements as at the date of valuation. Please refer to Section 2.6 of Part I of the Product Disclosure Statement dated 13 September 2010 and, if applicable, the Supplementary Product Disclosure Statement dated 9 March 2011, and the March 2011 Offer Terms for further details.

June 2011 Offer (Class AI – AR Units)

Walk-Away date1 Notification Date1 Unit valuation date
Last business day in September 15 August Early September
Last business day in December 15 November Early December
Last business day in March 15 February Early March
Second last business day in June 15 May Early June

For Classes AI-AN and Class AR, if you exercise the Walk-Away feature of your Investment Loan on or before 30 June 2012 the value of your Units will be $1.00. From 1 July 2011 the Unit value will reflect the market value of the Investment Linked Swap Arrangements as at the date of valuation. Please refer to Section 2.6 of Part I of the Product Disclosure Statement dated 13 September 2010 and, if applicable, the Supplementary Product Disclosure Statement dated 6 April 2011, and the June 2011 Offer Terms.

November 2011 Offer (Class AS– AV Units)

Walk-Away date1 Notification Date1 Unit valuation date
Last business day in September 15 August Early September
Second last business day in November 15 October Early November
Last business day in March 15 February Early March
Last business day in June 15 May Early June

For Classes AS-AV, if you exercise the Walk-Away feature of your Investment Loan on or before 30 November 2012 the value of your Units will be $1.00. From 1 December 2012 the Unit value will reflect the market value of the Investment Linked Swap Arrangements as at the date of valuation. Please refer to Section 3.6 of Part I of the Product Disclosure Statement dated 14 September 2011, and the November 2011 Offer Terms.

March 2012 Offer (Class AZ – BC Units)

Walk-Away date1 Notification Date1 Unit valuation date
Last business day in June 15 May Early June
Last business day in September 15 August Early September
Last business day in December 15 November Early December
Last business day in March 15 February Early March

For Classes AZ-BC, if you exercise the Walk-Away feature of your Investment Loan on or before 31 March 2013 the value of your Units will be $1.00. From 1 April 2013 the Unit value will reflect the market value of the Investment Linked Swap Arrangements as at the date of valuation. Please refer to Section 3.6 of Part I of the Product Disclosure Statement dated 14 September 2011, and the March 2012 Offer Terms.

June 2012 Offer (Class BF – BT Units)

Classes BF – BN, BS – BT

Walk-Away date1 Notification Date1 Unit valuation date
Last business day in September 15 August Early September
Last business day in December 15 November Early December
Last business day in March 15 February Early March
Second last business day in June 15 May Early June

Class BO

Walk-Away date1 Notification Date1 Unit valuation date
Last business day in September 15 August On or before 29 September
Last business day in December 15 November On or before 30 December
Last business day in March 15 February On or before 30 March
Second last business day in June 15 May On or before 28 June

For Classes BF-BN and BS-BT, if you exercise the Walk-Away feature of your Investment Loan on or before 30 June 2013 the value of your Units will be $1.00. From 1 July 2013 the Unit value will reflect the market value of the Investment Linked Swap Arrangements as at the date of valuation.

For Class BO, if you exercise the Walk-Away feature of your Investment Loan on or before 15 June 2013 the value of your Units will be $1.00. From 16 June 2013 the Unit value will reflect the market value of the Investment Linked Swap Arrangements as at the date of valuation.

Please refer to Section 3.6 of Part I of the Product Disclosure Statement dated 14 September 2011, and the June 2012 Offer Terms.

September 2012 Offer (Class BU – BW Units)

Walk-Away date1 Notification Date1 Unit valuation date
Last business day in December 15 November Early December
Last business day in March 15 February Early March
Last business day in June 15 May Early June
Second last business day in September 15 August Early September

For Classes BU-BW, if you exercise the Walk-Away feature of your Investment Loan on or before 30 September 2013 the value of your Units will be $1.00. From 1 October 2013 the Unit value will reflect the market value of the Investment Linked Swap Arrangements as at the date of valuation. Please refer to Section 3.6 of Part I of the Product Disclosure Statement dated 14 September 2011, and the September 2012 Offer Terms.

November 2012 Offer (Class BX – BY and CA Units)

Walk-Away date1 Notification Date1 Unit valuation date
Last business day in March 15 February Early March
Last business day in June 15 May Early June
Last business day in September 15 August Early September
Second last business day in November 15 October Early November

For Classes BX-BY and CA, if you exercise the Walk-Away feature of your Investment Loan on or before 30 November 2013 the value of your Units will be $1.00. From 1 December 2013 the Unit value will reflect the market value of the Investment Linked Swap Arrangements as at the date of valuation. Please refer to Section 3.6 of Part I of the Product Disclosure Statement dated 14 September 2011, and the November 2012 Offer Terms.

December 2012 Offer (Class CE Units)

Walk-Away date1 Notification Date1 Unit valuation date
Last business day in March 15 February Early March
Last business day in June 15 May Early June
Last business day in September 15 August Early September

For Class CE, the Unit value on each Unit Value Date throughout the entire Term will reflect the market value of the Investment Linked Swap Arrangements. Please refer to Section 3.6 of Part I of the Product Disclosure Statement dated 14 September 2011, the December 2012 Offer Terms and the website update dated 29 November 2012.

 

1 Please note that these dates may fall on a day that is not a business day, in which case, the relevant date will be the business day preceding that date.

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