The process to transfer managed funds or securities out of Wrap IDPS to direct holdings depends on whether there is:
How do I transfer managed funds or securities out of Wrap IDPS to direct holdings?
No Change in Beneficial Ownership (NCBO)
To transfer managed funds or securities out of a Wrap IDPS to direct holdings when there’s NCBO, you need to provide:
1. Original Australian Standard Transfer form for each asset to be transferred and completed with the following:
- Asset name, APIR code and number of units to be transferred
- Seller: Bond Street Custodians Ltd (include client’s account number), and signature section left blank for us to complete
- Buyer: name of the external account and signed by the trustees/directors/owners of the external account
- If account already opened with fund manager: Investor number of external account written under Buyer’s name
- Consideration: NCBO.
2. If your client needs to open a new account with the fund manager, see our additional requirements.
Change in Beneficial Ownership (CBO)
To transfer managed funds or securities out of Wrap IDPS to direct holdings when there's CBO, you need to provide:
1. Original Australian Standard Transfer form for each asset to be transferred, and completed with the following:
- Asset name, APIR code and number of units to be transferred
- Seller: Bond Street Custodians Ltd (include client’s account number), and signature section left blank for us to complete
- Buyer: name of the external account and signed by the trustees/directors/owners of the external account
- If account already opened with fund manager: Investor number of external account written under Buyer’s name
- The consideration value.
2. Additional original Australian Standard Transfer form for each asset to be transferred, and completed with the following:
- Asset name, APIR code and number of units to be transferred
- Seller: name of the client's Wrap account (including account number) and signed by the trustees/directors/owners of the Wrap account
- Buyer: name of the external account and signed by the trustees/directors/owners of the external account
- If account already opened with fund manager: Investor number of external account written under Buyer’s name
- The consideration value.
3. If your client needs to open a new account with the fund manager, see our additional requirements.
Change in Legal Ownership
To transfer managed funds or securities out of Wrap IDPS to direct holdings when there is a change in legal ownership, you need to provide:
1. Original Australian Standard Transfer form for each asset to be transferred, and completed with the following:
- Asset name, APIR code and number of units to be transferred
- Seller: Bond Street Custodians Ltd (include client’s account number), and signature section left blank for us to complete
- Buyer: name of the external account and signed by the trustees/directors/owners of the external account
- If account already opened with fund manager: Investor number of external account written under Buyer’s name
- Consideration: NCBO.
2. Additional original Australian Standard Transfer form for each asset to be transferred, and completed with the following:
- Asset name, APIR code and number of units to be transferred
- Seller: name of the client's Wrap account (including account number) and signed by the trustees/directors/owners of the Wrap account
- Buyer: name of the external account and signed by the trustees/directors/owners of the external account
- If account already opened with fund manager: Investor number of external account written under Buyer’s name
- Consideration: NCBO.
3. If your client needs to open a new account with the fund manager, see our additional requirements.
What if my client needs to open a new account with the fund manager?
If an account needs to be opened with the fund manager, please also include the following:
- Original Application form for each asset/fund manager (to be obtained directly from the fund manager and completed in full), or
- If the account has already been opened, the Investor number held with each fund manager.
- Any supporting documentation, such as identification or AML documentation required (e.g. Original Certified Copy Photo ID, Original Certified Copy Trust Deed, ASIC extract, etc) as stated on the application form.
- You will need to confirm with the fund manager that the minimum investment amount is met, before providing transfer documents.
- For transfers to two or more different fund managers, one set of ID/AML documentation must be provided for each application. This will also apply where separate applications for funds with the same fund manager, are required (i.e. if each fund has its own fund-specific application form).
What fees are charged when transferring assets off Macquarie Wrap?
There’s a $20 per asset fee charged when transferring asset out of Macquarie Wrap to an external account or holding.
This fee will be charged from the Wrap Cash account when the assets are moved off platform, or if the account is being closed, as part of the final fee calculation.
Where do I send completed transfer paperwork?
Once all transfer paperwork is completed and signed by your client or relevant parties, please upload via Macquarie Request Centre to ensure you can track your request.
For any original documentation required (as noted in the above) please mail to:
TRN: Case Reference
Macquarie Wrap
Attn: Asset Transfers
GPO Box 4045
SYDNEY NSW 2001
Related articles
-
Making an internal transfer of Separately Managed Accounts (SMA) assets -
Transferring between Wrap IDPS accounts -
Transferring from an IDPS to a Super or Pension as a contribution
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