We’ve updated the investment sequence for circumstances where we need to sell or draw down investments on behalf of super and pension clients.
Where required, we’ll draw down from investments in the order below, from highest to lowest value in each category:
- Daily transacting managed funds and SMAs, then
- Australian listed securities, then
- Non-daily transacting managed funds, then
- Other eligible investments.
We’ll only sell down in limited circumstances, such as where your client’s cash balance isn’t enough to fund a rollover request or pay administration fees. You can find more information about the circumstances in which we’ll initiate a sell down in the relevant Product Disclosure Statement.
Please note, this change doesn’t apply to Super Accumulator accounts.