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Macquarie Flexi 100 Trust Updates


 

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2020

15 January 2020 – Change of Security Trustee for Superannuation Investors

Following notice from the existing Security Trustee, Bond Street Custodians Limited, of its intention to retire as Security Trustee (in the case of Superannuation Investors), Macquarie Specialist Investments Lending Limited (Loan Provider) has appointed Mainstream Fund Services Pty Ltd (Mainstream) as the replacement Security Trustee. The Security Trustee holds the Units acquired for each Superannuation Investor in a separate trust for each Superannuation Investor and provides security for the Loans in favour of the Loan Provider.

Mainstream is entitled to a fee paid by the Loan Provider, from its own funds for providing Security Trustee services. This does not represent an additional cost to investors. The Loan Provider must appoint the replacement Security Trustee as a result of the retirement of the existing Security Trustee.

The Security Trustee’s role is explained further in the Product Disclosure Statement or Information Memorandum relevant to the Macquarie Flexi 100 Trust offer and in the related Security Trust Deed. There are no changes to the way the managed investment scheme is being operated or managed. Investors do not have to do anything as a result of this change.

2019

15 August 2019 – Extension of notification period for Walk-Aways at end of September 2019

The notification period relating to Walk-Aways occurring on 30 September 2019 has been extended to Friday 23 August. To ensure your notification is processed successfully, you are encouraged to submit your Walk-Away request form as soon as possible.

9 May 2019 – Extension of notification period for Walk-Aways at end of June 2019

The notification period relating to Walk-Aways occurring on 27 and 28 June 2019 has been extended to Wednesday 22 May. To ensure your notification is processed successfully, you are encouraged to submit your Walk-Away request form as soon as possible.

14 February 2019 – Extension of notification period for Walk-Aways at end of March 2019

The notification period relating to Walk-Aways occurring on 29 March 2019 has been extended to Wednesday 20 February. To ensure your notification is processed successfully, you are encouraged to submit your Walk-Away request form as soon as possible.

14 February 2019 – Update to Australian Equity Focus Basket constituents for existing baskets

This update affects investors in classes of the Macquarie Flexi 100 Trust (Fund) that use the Australian Equity Focus Basket as a Reference Asset, being Classes PMF2, DI, EF, EJ, EO, EP, ES and FA (Relevant Classes).

The Australian Equity Focus Basket for the Relevant Classes included Wesfarmers Limited (WES) as a constituent.

On 21 November 2018 Coles Group Limited (COL) was demerged from WES, and WES shares commenced trading on an ex-demerger entitlement basis. For the Relevant Classes this event constituted a corporate event for the purposes of the Swap Agreement between the Fund and Macquarie Bank Limited (Macquarie), the Swap Counterparty.

Macquarie has broad discretions to adjust the terms of the Swap Agreement to preserve the economic equivalence of the rights and obligations of the Fund and Macquarie prior to a corporate event.

With effect from the relevant Swap Start Date for the Relevant Classes, Macquarie has exercised its discretion to adjust the Australian Equity Focus Basket by adjusting the Constituent Start Level for WES so that the revised Constituent Start Level is equal to 71.12% of the WES Constituent Start Level applying as at close of business on 20 November 2018 prior to the demerger. The basket weight for WES remains unchanged.

Note that the adjustment to the Constituent Start Level is consistent with the ASX mandated adjustments to ASX traded options referencing WES.

The effect of this adjustment is to ensure that the historic share price performance of WES within each Australian Equity Focus Basket, and the performance of each Australian Equity Focus Basket, is not affected by adjustment of the WES share price following the Coles demerger.

The table below shows:

  1. the original Constituent Start Level for WES calculated on the relevant Swap Start Date;
  2. the adjusted Constituent Start Level for WES following the Coles Group Limited demerger; and
  3. the adjusted Share Performance Cap for WES, for baskets where a Share Performance Cap applies.
ClassOriginal constituent start level for WESAdjusted constituent start level for WESAdjusted share performance cap for WES
PMF2 42.96 30.2825 39.3673
DI 42.96 30.2825 45.4238
EF 39.75 28.2691 38.7287
EJ, EO, EP 41.00 29.1580 NA
ES 39.87 28.3544 38.2784
FA 40.33 28.6816 NA

2018

14 August 2018 – Extension of notification period for Walk-Aways at end of June 2018

The notification period relating to Walk-Aways occurring on 28 September 2018 has been extended to Wednesday 22 May. To ensure your notification is processed successfully, you are encouraged to submit your Walk-Away request form as soon as possible.

18 July 2018 – Initial Investment Levels for the June 2018 Offer

An invitation by Macquarie Financial Products Management Limited ABN 38 095 135 694 AFSL 237847 (MFPML) for investors to apply for units in the June 2018 retail classes of the Macquarie Flexi 100 Trust ARSN 129 962 189 (Trust) was made in the Term Sheet dated 23 April 2018, together with the Product Disclosure Statement (including the Information Booklet) dated 27 March 2017 (General Offer) and an invitation by MFPML for investors to apply for units in the June 2018 wholesale classes of the Trust was made in the Term Sheet dated 14 May 2018, together with the Information Memorandum dated 3 April 2015 and the Supplementary Information Memorandum dated 14 May 2018 (Professional Offer).

The final details of the Performance Caps, Initial Investment Levels, Constituent Start Levels and foreign exchange rates for the June 2018 General and Professional Offers are provided below.

The Initial Investment Levels or Constituent Start Levels listed below are not adjusted for any corporate or adjustment events (if applicable) that may have occurred. In the event of a corporate event or adjustment event, the calculation of the Constituent Start Level for a Reference Asset Constituent or the Initial Investment Level for a Class may be adjusted by the Swap Counterparty. See section 2.1 of the Information Booklet dated 27 March 2017 for the General Offer or section 10.1 of the Information Memorandum dated 3 April 2015 for the Professional Offer for more information.

General Offer – Interest rates

  • Investment Loan: 6.50% p.a.
  • Interest Loan for the year ending 30 June 2019: 9.50% p.a.

General Offer – 2.5 year term

Class FH FI
Name Australian Equity Eurozone Equity
Initial Investment Level 6,268.40 3,454.54
Initial FX Rate n/a 0.6355
Hurdle 100.00% 100.00%
Hurdle Investment Level 6,268.40 3,454.54
Performance Cap Uncapped Uncapped
Performance Cap Investment Level Uncapped Uncapped
Cap Type Term Term

General Offer – 3.5 year term

Class FJ FK FL
Name Australian Equity Focus International Basket US Equity Focus
Initial Investment Level 100.00 100.00 100.00
Initial FX Rate n/a 0.7412 0.7412
Hurdle 100% 107.5% 107.5%
Hurdle Investment Level 100.00 107.50 107.50
Performance Cap Uncapped Uncapped Uncapped
Performance Cap Investment Level Uncapped Uncapped Uncapped
Cap Type Term Term Term

Professional Offer – Interest rates

  • Investment Loan: 6.25% p.a.
  • Interest Loan for the year ending 30 June 2019: 9.50% p.a.

Professional Offer – 3.0 year term

Class FM FN
Name Funds Basket Income Fund
Initial Investment Level 100.00 9.96
Initial FX Rate n/a n/a
Hurdle 100.00% 100.00%
Hurdle Investment Level 100.00 9.96
Performance Cap Uncapped Uncapped
Performance Cap Investment Level Uncapped Uncapped
Cap Type Term Term

Professional Offer – 3.5 year term

Class FO FP
Name Australian Equity Focus US Equity Focus
Initial Investment Level 100.00 100.00
Initial FX Rate n/a 0.7412
Hurdle 100.00% 107.5%
Hurdle Investment Level 100.00 107.50
Performance Cap Uncapped Uncapped
Performance Cap Investment Level Uncapped Uncapped
Cap Type Term Term

Baskets

Australian Equity Focus
Classes FJ and FO

Stock nameCodeWeightConstituent start level
AGL Energy Limited AGL 5% 21.91
Amcor Limited AMC 5% 14.35
AMP Limited AMP 5% 3.60
Australia and New Zealand Banking Group Limited ANZ 5% 29.01
ASX Limited ASX 5% 65.59
Aurizon Holdings Limited AZJ 5% 4.37
Commonwealth Bank of Australia CBA 5% 74.85
Coca-Cola Amatil Ltd CCL 5% 9.67
GPT Group GPT 5% 5.20
Insurance Australia Group Limited IAG 5% 8.17
Medibank Private Limited MPL 5% 3.06
National Australia Bank Limited NAB 5% 28.04
Scentre Group Limited SCG 5% 4.47
Stockland Corporation Limited SGP 5% 4.14
Suncorp Group Limited SUN 5% 14.83
Sydney Airport Holdings Limited SYD 5% 7.07
Transurban Group TCL 5% 12.00
Telstra Corporation Limited TLS 5% 2.75
Westpac Banking Corporation WBC 5% 29.60
Woolworths Limited WOW 5% 30.89

US Equity Focus
Classes FL and FP

Stock nameCodeWeightConstituent start level
3M Company MMM 10% 201.18
Altria Group Inc. MO 10% 58.5
AT&T Inc. T 10% 31.67
Coca-Cola Company/The KO 10% 44.74
Johnson & Johnson JNJ 10% 125.93
McDonald’s Corporation MCD 10% 158.51
Pepsico Inc. PEP 10% 112.69
Pfizer Inc. PFE 10% 37.53
Procter & Gamble Company PG 10% 79.31
Southern Company SO 10% 47.96

International Basket
Class FK

UnderlyingWeightConstituent start level
S&P 500 Index 40% 2,801.31
EURO STOXX 50® Price Index 35% 3,454.54
Nikkei 225 Index 25% 22,597.35

Funds Basket
Class FM

UnderlyingWeightConstituent start level
GAM Star Credit Opportunities Fund (Ordinary EUR Accumulation) 70% 17.9048
Old Mutual Global Equity Absolute Return Fund (A Class, EUR Hedged Accumulation) 30% 1.3819

9 July 2018 – Issue Date and Loan Drawdown Date for Classes FH-FP

The Issue Date of Units in the Macquarie Flexi 100 Trust – June 2018 Offer for Classes FH-FP is 30 June 2018. This means the Investment Loan Drawdown Date is also 30 June 2018.

1 June 2018 – Update to Australian Equity Focus Basket constituents for existing baskets

This update affects investors in classes of the Macquarie Flexi 100 Trust (Fund) that use the Australian Equity Focus Basket as a Reference Asset, being Classes PMF1A, PMF1B, PMF2, DI, DT and EF (Relevant Classes).

The Australian Equity Focus Basket for the Relevant Classes included Westfield Corporation (WFD) as a constituent.

As a result of Unibail-Rodamco’s takeover of Westfield Corporation (WFD), 30 May 2018 was the last day of trading for WFD shares on the Australian Securities Exchange.

For the Relevant Classes this event constituted a corporate event for the purposes of the Swap Agreements between the Fund and Macquarie Bank Limited (Macquarie), the Swap Counterparty.

Macquarie has broad discretions to adjust the terms of the Swap Agreements to preserve the economic equivalence of the rights and obligations of the Fund and Macquarie prior to a corporate event.

Macquarie exercised its discretion to adjust each Australian Equity Focus Basket by:

  • replacing WFD with Goodman Group (GMG) as a Reference Asset Constituent effective from the close of trading on 30 May 2018; and
  • leaving the relevant Weight unchanged.

The effect of this adjustment is to give investors in the Relevant Classes exposure to WFD from the Swap Start Date until the close of trade on 30 May 2018, and exposure to GMG from 31 May 2018 until the Swap Valuation Date. The Closing Level for WFD on 30 May 2018 was $8.84, and the Closing Level of GMG on 30 May 2018 was $9.30.

The table below shows:

  1. the Constituent Start Level for GMG deemed to apply on the Swap Start Date to preserve the economic equivalence when replacing WFD with GMG in the Australian Equity Focus Basket for the Relevant Classes; and
  2. the percentage changes in WFD that have been preserved by selecting the Constituent Start Levels for GMG as set out below.

There have been no changes to the Share Performance Caps applicable to these constituents.

ClassConstituent Start Level for GMG (1)Percentage change as at 30 May 2018 from Swap Start Date (2)
PMF1A $7.8736 18.12%
PMF1B $7.8736 18.12%
PMF2 $7.8166 18.98%
DI $7.8166 18.98%
DT $9.7629 -4.74%
EF $9.7629 -4.74%

22 May 2018 - FATCA updates

15 May 2018 - Extension of notification period for Walk-Aways at end of June 2018

The notification period relating to Walk-Aways occurring on 28 June 2018 has been extended to Friday 18 May. To ensure your notification is processed successfully, you are encouraged to submit your Walk-Away request form as soon as possible.

25 Jan 2018 – Addendum to Product Ruling PR 2017/2

The Australian Taxation Office has issued an Addendum to Product Ruling PR 2017/21 to clarify the class of entities that can rely on the Product Ruling for the Macquarie Flexi 100 Trust.

The Addendum to the Product Ruling can be found in the link below:

PR 2017/2A1 – Class of entities relying on the Product Ruling

It is important to note that this Addendum to the Product Ruling only applies to investors in classes offered as part of the June 2017 offer of the Macquarie Flexi 100 Trust, and does not include investors in Flexi Professional.

1 The Commissioner of Taxation (Commissioner) does not sanction, endorse or guarantee this product. Further, the Commissioner gives no assurance that the product is commercially viable, that charges are reasonable, appropriate or represent industry norms, or that projected returns will be achieved or are reasonably based. Potential participants must form their own view about the commercial and financial viability of the product. The Commissioner recommends you consult an independent financial (or other) adviser for such information.

2017

15 August 2017 - Extension of notification period for Walk-Aways at end of September 2017

The notification period relating to Walk-Aways occurring on 29 September 2017 has been extended to Friday 18 August. To ensure your notification is processed successfully, you are encouraged to submit your Walk-Away request form as soon as possible.

17 July 2017 - Initial Investment Levels for the June 2017 Offer

The final details of the Performance Caps, Initial Investment Levels, Constituent Start Levels and foreign exchange rates for the June 2017 General and Professional Offers are provided below.

The Initial Investment Levels or Constituent Start Levels listed below are not adjusted for any corporate or adjustment events (if applicable) that may have occurred. In the event of a corporate event or adjustment event, the calculation of the Constituent Start Level for a Reference Asset Constituent or the Initial Investment Level for a Class may be adjusted by the Swap Counterparty. See section 2.1 of the Information Booklet for more information.

 

General Offer – 2.5 year term 

Class FA FB FC
Name Australian Equity Focus Best-of Basket US Equity Focus
Initial Investment Level 100.00 100.00 100.00
Initial FX rate n/a n/a 0.7638
Hurdle 100.00% 100.00% 100.00%
Hurdle Investment Level 100.00 100.00 100.00
Performance Cap Uncapped Uncapped Uncapped
Performance Cap Investment Level Uncapped Uncapped Uncapped
Cap Type Term Term Term

 

 

General Offer – 4.0 year term 

Class FD FE FF
Name Australian Equity International Basket Eurozone Equity
Initial Investment Level 5,673.8 100.00 3,515.23
Initial FX rate n/a 0.7638 0.6658
Hurdle 110.00% 110.00% 110.00%
Hurdle Investment Level 6,241.18 110.00 3,866.753
Performance Cap Uncapped Uncapped Uncapped
Performance Cap Investment Level Uncapped Uncapped Uncapped
Cap Type Term Term Term

 

Professional Offer – 3.0 year term

Class FG
Name Funds Basket
Initial Investment Level 100.00
Initial FX rate n/a
Hurdle 100.00%
Hurdle Investment Level 100.00
Performance Cap Uncapped
Performance Cap Investment Level Uncapped
Cap Type Term

 

Baskets

Australian Equity Focus

Class FA

Stock NameCodeWeightInitial Price
AGL Energy Limited AGL 5% 24.76
Amcor Limited AMC 5% 15.86
AMP Limited AMP 5% 5.17
Australia and New Zealand Banking Group Limited ANZ 5% 28.41
ASX Limited ASX 5% 52.26
Aurizon Holdings Limited AZJ 5% 5.32
Commonwealth Bank of Australia CBA 5% 82.12
Coca-Cola Amatil Ltd CCL 5% 8.72
GPT Group GPT 5% 4.68
Insurance Australia Group Limited IAG 5% 6.85
National Australia Bank Limited NAB 5% 29.72
Scentre Group Limited SCG 5% 3.9
Stockland Corporation Limited SGP 5% 4.15
Suncorp Group Limited SUN 5% 14.8
Sydney Airport Holdings Limited SYD 5% 6.75
Transurban Group TCL 5% 11.17
Telstra Corporation Limited TLS 5% 4.32
Westpac Banking Corporation WBC 5% 30.73
Wesfarmers Limited WES 5% 40.33
Woolworths Limited WOW 5% 25.68

 

Best-of Basket

Class FB

UnderlyingStart LevelASX Tilt Basket WeightBond Fund Tilt Basket Weight
S&P/ASX 200 Index 5,673.8 60% 20%
PIMCO GIS Total Return Bond Fund 26.88 20% 60%
Winton Global Alpha Fund 1.1664 20% 20%

 

US Equity Focus

Class FC

Stock NameCodeWeightInitial Price
3M Company MMM 5% 211.3
Altria Group Inc. MO 5% 73.89
AT&T Inc. T 5% 36.83
Chevron Corporation CVX 5% 103.89
Cisco Systems Inc. CSCO 5% 31.16
Coca-Cola Company/The KO 5% 44.51
Exxon Mobil Corporation XOM 5% 80.96
General Electric Company GE 5% 26.58
Intel Corporation INTC 5% 34.25
International Business Machines Corporation IBM 5% 153.7
Johnson & Johnson JNJ 5% 132.23
McDonald’s Corporation MCD 5% 156.58
Pepsico Inc. PEP 5% 114.77
Pfizer Inc. PFE 5% 33.22
Philip Morris International Inc. PM 5% 118.23
Procter & Gamble Company PG 5% 86.96
Southern Company SO 5% 47.51
United Parcel Service Inc. UPS 5% 110.57
Verizon Communications Inc. VZ 5% 43.22
Wal-Mart Stores Inc. WMT 5% 73.94

 

International Basket

Class FE

UnderlyingWeightStart Level
S&P 500 Index 40% 2,443.25
EURO STOXX 50® Price Index 30% 3,515.23
Nikkei 225 Index 20% 20,098.38
iShares Asia 50 ETF 10% 58.74

 

Funds Basket

Class FG

UnderlyingWeightStart Level
Winton Global Alpha Fund 30% 1.1664
PIMCO GIS Income Fund (H Institutional Class, EUR Hedged Accumulation) 70% 10.01

 

 

18 May 2017 - Extension of notification period for Walk-Aways at end of June 2017

The notification period relating to Walk-Aways occurring on 30 June 2017 has been extended to Friday 19 May. To ensure your notification is processed successfully, you are encouraged to submit your Walk-Away request form as soon as possible.

15 May 2017 - Extension of notification period for Walk-Aways at end of June 2017

The notification period relating to Walk-Aways occurring on 30 June 2017 has been extended to Thursday 18 May. To ensure your notification is processed successfully, you are encouraged to submit your Walk-Away request form as soon as possible.

2016

8 Aug 2016 - Extension of notification period for Walk-Aways at end of September 2016

The notification period relating to Walk-Aways occurring on 30 September 2016 has been extended to Monday 22 August. To ensure your notification is processed successfully, you are encouraged to submit your Walk-Away request form as soon as possible.

20 July 2016 - Responsible Entity fee payment timing

18 July 2016 - Initial Investment Levels for the June 2016 Offer

The final details of the Performance Caps, Initial Investment Levels, Constituent Start Levels and foreign exchange rates for the June 2016 General, Professional, ER-EV, EX and EY Offers are provided below.

The Initial Investment Levels or Constituent Start Levels listed below are not adjusted for any corporate or adjustment events (if applicable) that may have occurred. In the event of a corporate event or adjustment event, the calculation of the Constituent Start Level for a Reference Asset Constituent or the Initial Investment Level for a Class may be adjusted by the Swap Counterparty. See section 2.1 of the Information Booklet for more information.

 

General Offer – 3.5 year term 

Class EJ EK
Name Australian Equity Focus (No Hurdle 3.5 Year) Best-of Basket
Initial Investment Level 100.00 100.00
Initial FX rate n/a n/a
Hurdle 100.00% 110.00%
Hurdle Investment Level 100.00 110.00
Performance Cap/Barrier 30% Uncapped
Performance Cap Investment Level 130.00 Uncapped
Cap Type/Barrier Term Term

 

 

General Offer – 5.5 year term 

Class EL EM EN EO
Name Australian Equity European Equity US Low Volatility Australian Equity Focus (No Hurdle 5.5 Year)
Initial Investment Level 5,337.11 2,885.32 6,950.82 100.00
Initial FX rate n/a 0.6832 0.7553 n/a
Hurdle 112.25% 112.25% 112.25% 100.00%
Hurdle Investment Level 5,990.90 3,238.77 7,802.30 100.00
Performance Cap/Barrier Uncapped Uncapped 80% Uncapped
Performance Cap Investment Level Uncapped Uncapped 12,511.48 Uncapped
Cap Type/Barrier Term Term Term Term

 

 

Professional Offer – 3.5 year term

Class EP
Name Australian Equity Focus
Initial Investment Level 100.00
Initial FX rate n/a
Hurdle 110.00%
Hurdle Investment Level 110.00
Performance Cap/Barrier Uncapped
Performance Cap Investment Level Uncapped
Cap Type/Barrier Term

 

 

Professional Offer – 5.5 year term

Class EQ
Name International Basket
Initial Investment Level 100.00
Initial FX rate 0.7553
Hurdle 112.25%
Hurdle Investment Level 112.25
Performance Cap/Barrier 85%
Performance Cap Investment Level 185.00
Cap Type/Barrier Share

 

 

Classes ER-EV, EX and EY - 4.0 year term

Class ER ES ET EU EV EX EY
Name Bond Fund Tilt Basket Australian Equity Focus US Equity Focus Australian Equity Focus (Yearly Averaging) Australian Equity European Equity US Equity
Initial Investment Level 100.00 100.00 100.00 100.00 5,197.50 2,761.37 2,099.73
Initial FX rate n/a n/a 0.7425 n/a n/a 0.6719 0.7425
Hurdle 124.00% 124.00% 124.00% 124.00% 100.00% 100.00% 100.00%
Hurdle Investment Level 124.00 124.00 124.00 124.00 5,197.50 2,761.37 2,099.73
Performance Cap/Barrier 35% 35% 35% 35% 20% 20% 20%
Performance Cap Investment Level 135.00 135.00 135.00 135.00 6,237.00 3,313.64 2,519.68
Cap Type/Barrier Share Share Share Term Barrier Barrier Barrier

 

 

Baskets

Classes EJ and EO

Stock NameCodeWeightInitial Price
AGL Energy Limited AGL 5% 19.98
Amcor Limited AMC 5% 15.28
AMP Limited AMP 5% 5.36
Australia and New Zealand Banking Group Limited ANZ 5% 23.92
ASX Limited ASX 5% 47.77
Commonwealth Bank of Australia CBA 5% 74.10
Coca-Cola Amatil Ltd CCL 5% 8.89
Dexus Property Group DXS 5% 9.39
GPT Group GPT 5% 5.57
Insurance Australia Group Limited IAG 5% 5.55
National Australia Bank Limited NAB 5% 24.99
Scentre Group Limited SCG 5% 5.25
Stockland Corporation Limited SGP 5% 4.90
Suncorp Group Limited SUN 5% 12.48
Sydney Airport Holdings Limited SYD 5% 7.18
Transurban Group TCL 5% 12.10
Telstra Corporation Limited TLS 5% 5.67
Westpac Banking Corporation WBC 5% 29.19
Wesfarmers Limited WES 5% 41.00
Woolworths Limited WOW 5% 21.31

 

Best-of Basket

Class EK

UnderlyingStart LevelASX Tilt Basket WeightBond Fund Tilt Basket Weight
S&P/ASX 200 Index 5,337.1 60% 20%
PIMCO GIS Total Return Bond Fund 26.63 20% 60%
Winton Global Alpha Fund 1.2375 20% 20%

 

Class EP

Stock NameCodeWeightInitial Price
Australia and New Zealand Banking Group Limited ANZ 10% 23.92
Commonwealth Bank of Australia CBA 10% 74.10
Insurance Australia Group Limited IAG 10% 5.55
National Australia Bank Limited NAB 10% 24.99
Stockland Corporation Limited SGP 10% 4.90
Suncorp Group Limited SUN 10% 12.48
Transurban Group TCL 10% 12.10
Telstra Corporation Limited TLS 10% 5.67
Westpac Banking Corporation WBC 10% 29.19
Wesfarmers Limited WES 10% 41.00

 

International Basket

Class EQ

UnderlyingWeightStart LevelCap Level
S&P 500 Index 40% 2,137.16 3,953.75
EURO STOXX 50 Index 40% 2,885.32 5,337.84
iShares Asia 50 ETF 20% 45.21 83.64

 

Bond Fund Tilt Basket

Class ER

UnderlyingWeightStart LevelCap Level
S&P ASX 200 Index 20% 5,197.547 7,016.69
Winton Global Alpha Fund 60% 1.2406 1.6748
PIMCO GIS Total Return Bond Fund 20% 26.63 35.95

 

Class ES

Stock NameCodeWeightInitial PriceCap Level
AGL Energy Limited AGL 5% 20.32 27.43
Amcor Limited AMC 5% 14.85 20.05
AMP Limited AMP 5% 5.17 6.98
Australia and New Zealand Banking Group ANZ 5% 22.96 31.00
ASX Limited ASX 5% 46.97 63.41
Commonwealth Bank of Australia CBA 5% 71.97 97.16
Coca-Cola Amatil Limited CCL 5% 8.50 11.48
Dexus Property Group DXS 5% 9.28 12.53
GPT Group GPT 5% 5.45 7.36
Insurance Australia Group Limited IAG 5% 5.49 7.41
National Australia Bank Limited NAB 5% 24.54 33.13
Scentre Group Limited SCG 5% 5.01 6.76
Stockland Corporation Limited SGP 5% 4.83 6.52
Suncorp Group Limited SUN 5% 12.16 16.42
Sydney Airport Holdings Limited SYD 5% 7.09 9.57
Transurban Group TCL 5% 12.04 16.25
Telstra Corporation Limited TLS 5% 5.55 7.49
Westpac Banking Corporation WBC 5% 28.20 38.07
Wesfarmers Limited WES 5% 39.87 53.82
Woolworths Limited WOW 5% 20.50 27.68

 

Class EU

Stock NameCodeWeightInitial Price
AGL Energy Limited AGL 5% 20.32
Amcor Limited AMC 5% 14.85
AMP Limited AMP 5% 5.17
Australia and New Zealand Banking Group ANZ 5% 22.96
ASX Limited ASX 5% 46.97
Commonwealth Bank of Australia CBA 5% 71.97
Coca-Cola Amatil Limited CCL 5% 8.50
Dexus Property Group DXS 5% 9.28
GPT Group GPT 5% 5.45
Insurance Australia Group Limited IAG 5% 5.49
National Australia Bank Limited NAB 5% 24.54
Scentre Group Limited SCG 5% 5.01
Stockland Corporation Limited SGP 5% 4.83
Suncorp Group Limited SUN 5% 12.16
Sydney Airport Holdings Limited SYD 5% 7.09
Transurban Group TCL 5% 12.04
Telstra Corporation Limited TLS 5% 5.55
Westpac Banking Corporation WBC 5% 28.20
Wesfarmers Limited WES 5% 39.87
Woolworths Limited WOW 5% 20.50

 

Class ET

Stock NameCodeWeightInitial PriceCap Level
AT&T Inc. T 5% 43.10 58.19
Altria Group Inc. MO 5% 69.72 94.12
Chevron Corporation CVX 5% 104.58 141.18
Cisco Systems Inc. CSCO 5% 28.72 38.77
Coca-Cola Company/The KO 5% 45.27 61.11
Exxon Mobil Corporation XOM 5% 94.09 127.02
General Electric Company GE 5% 31.74 42.85
Intel Corporation INTC 5% 32.97 44.51
International Business Machines Corporation IBM 5% 152.37 205.70
Johnson & Johnson JNJ 5% 122.64 165.56
McDonald's Corporation MCD 5% 120.63 162.85
Merck & Co. Inc. MRK 5% 59.16 79.87
Pepsico Inc. PEP 5% 105.92 142.99
Pfizer Inc. PFE 5% 35.86 48.41
Philip Morris International Inc. PM 5% 102.36 138.19
Procter & Gamble Company PG 5% 85.03 114.79
Southern Company SO 5% 54.44 73.49
United Parcel Service Inc. UPS 5% 107.72 145.42
Verizon Communications Inc. VZ 5% 56.26 75.95
Wells Fargo & Company WFC 5% 46.65 62.98

 

 

9 June 2016 - Initial investment Levels - Class EW

The final details of the Performance Cap, Initial Investment Level and Constituent Start Levels for the June 2016 Class EW Offer are provided below.

The Initial Investment Levels or Constituent Start Levels listed below are not adjusted for any corporate or adjustment events (if applicable) that may have occurred. In the event of a corporate event or adjustment event, the calculation of the Constituent Start Level for a Reference Asset Constituent or the Initial Investment Level for a Class may be adjusted by the Swap Counterparty. See section 2.1 of the Information Booklet for more information.

Class EW - 1.0 year term

Initial Investment
Level
Initial exchange
rate
Hurdle Hurdle 
Investment
Level
Performance Cap Performance Cap
Investment Level

Class EW
Australian Equity
Focus Basket
(20 shares)

100.001 n/a 110.0% 110.00 20% 120.00
Please see the table below for the Constituent Start Levels of the Reference Asset Constituents for Class EW. 

Class EW - Australian Equity Focus Shares (20 shares)

Reference Asset Constituent Constituent Start Level Weight
AGL AGL Energy Limited  18.92 5%
AMC Amcor Limited 16.13 5%
AMP AMP Limited 5.52 5%
ANZ Australia and New Zealand Banking Group Limited 24.96 5%
ASX ASX Limited 45.52 5%
CBA Commonwealth Bank of Australia 76.6 5%
CCL Coca-Cola Amatil Ltd 8.75 5%
DXS Dexus Property Group 8.86 5%
GPT GPT Group 5.45 5%
IAG Insurance Australia Group Limited 5.72 5%
NAB National Australia Bank Limited 26.62 5%
SCG Scentre Group Limited 4.67 5%
SGP Stockland Corporation Limited 4.64 5%
SUN Suncorp Group Limited 12.56 5%
SYD Sydney Airport Holdings Limited 7.22 5%
TCL Transurban Group 11.93 5%
TLS Telstra Corporation Limited 5.58 5%
WBC Westpac Banking Corporation 30.26 5%
WES Wesfarmers Limited 40.73 5%
WOW Woolworths Limited 21.81 5%

30 March 2016 - Confirmation of look-through tax treatment for superannuation investors

This update affects all investors in the Macquarie Flexi 100 Trust who are self-managed superannuation funds.

On 16 September 2015, the Income Tax Assessment Act 1997 was amended to insert provisions regarding assets acquired by the trustee of an ‘instalment trust’ in the 2007-08 income year or later.

The amendments confirm that a superannuation trustee who enters into a limited recourse borrowing arrangement under former sub-section 67(4A) or sub-section 67A(1) of the Superannuation Industry (Supervision) Act 1993 to purchase an asset will be treated as the owner of the asset for most income tax purposes, as assumed in the Taxation section of the following offer documents:

  • PDS dated 18 September 2013
  • PDS dated 14 September 2011
  • PDS dated 13 September 2010
  • PDS dated 18 March 2010.

Superannuation investors should seek their own advice as to the application of the enacted changes to their own particular circumstances.

2015

21 Sept 2015 – Initial Investment Levels for the September 2015 Offer

The final details of the Performance Cap, Initial Investment Level and Constituent Start Levels for the September 2015 Class EH Offer are provided below.

The Initial Investment Levels or Constituent Start Levels listed below are not adjusted for any corporate or adjustment events (if applicable) that may have occurred. In the event of a corporate event or adjustment event, the calculation of the Constituent Start Level for a Reference Asset Constituent or the Initial Investment Level for a Class may be adjusted by the Swap Counterparty. See section 2.1 of the Information Booklet for more information.

Class EH – 4.0 year term

 

Initial Investment Level

Initial exchange rate

Hurdle

Hurdle Investment Level

Performance Cap

Performance Cap Investment Level

Class EH
Australian Equity Focus Basket (20 shares)

100.001

n/a

124.0%

124.00

37%2

See tables below

[1] Please see the table below for the Constituent Start Levels of the Reference Asset Constituents for Class EH.
[2] Class EH uses Share Performance Caps, which apply to the performance of each Reference Asset Constituent. Please see the tables below for the Share Performance Cap levels of the Reference Asset Constituents in Class EH.

Class EH – Australian Equity Focus Basket (20 shares)

Reference Asset Constituent

Constituent Start Level

Weight

Constituent Share Performance Cap Level

AMP

AMP Limited

5.79

5%

7.93

ANZ

Australia and New Zealand Banking Group Limited

28.40

5%

38.91

BHP

BHP Billiton Limited

24.46

5%

33.51

BXB

Brambles Limited

9.87

5%

13.52

CBA

Commonwealth Bank of Australia

75.83

5%

103.89

CSL

CSL Limited

90.57

5%

124.08

IAG

Insurance Australia Group Limited

5.00

5%

6.85

NAB

National Australia Bank Limited

31.06

5%

42.55

ORG

Origin Energy Limited

7.06

5%

9.67

QBE

QBE Insurance Group Limited

13.26

5%

18.17

RIO

Rio Tinto Limited

51.26

5%

70.23

SCG

Scentre Group

3.88

5%

5.32

SUN

Suncorp Group Limited

12.54

5%

17.18

TCL

Transurban Group

9.74

5%

13.34

TLS

Telstra Corporation Limited

5.65

5%

7.74

WES

Wesfarmers Limited

39.20

5%

53.70

WFD

Westfield Corporation

9.75

5%

13.36

WBC

Westpac Banking Corporation

31.75

5%

43.50

WPL

Woodside Petroleum Limited

29.69

5%

40.68

WOW

Woolworths Limited

24.82

5%

34.00

3 Sept 2015 – Notice of unit pricing policy: discretions relating to redemption prices

Under the constitution for the Flexi 100 Trust (Trust), Macquarie Financial Products Management Limited as Responsible Entity of the Trust, has certain discretions in determining redemption prices. There is a documented policy on the exercise of these discretions. You can obtain a copy of the policy and the related documents by contacting Client Service on 1800 080 033.

19 Aug 2015 - Extension of notification period for Walk-Aways at end of September 2015

The notification period relating to Walk-Aways occurring on or before 30 September 2015 has been extended to Friday 21 August. To ensure your notification is processed successfully, you are encouraged to submit your Walk-Away request form as soon as possible.

10 Aug 2015 - Initial Investment Levels for the June 2015 Offer.

The final details of the Performance Caps, Initial Investment Levels, Constituent Start Levels and foreign exchange rates for the June 2015 General, Professional, EB-ED and EF-EG Offers are provided below.

The Initial Investment Levels or Constituent Start Levels listed below are not adjusted for any corporate or adjustment events (if applicable) that may have occurred. In the event of a corporate event or adjustment event, the calculation of the Constituent Start Level for a Reference Asset Constituent or the Initial Investment Level for a Class may be adjusted by the Swap Counterparty. See section 2.1 of the Information Booklet for more information.

 

General Offer – 3.5 year term 

 Initial Investment LevelInitial exchange rateHurdleHurdle Investment LevelPerformance CapPerformance Cap Investment Level
Class DT Australian Equity Focus (No Hurdle) 100.001 n/a 100.0% 100.00 30%3 See tables below
Class DU Best-of Basket 100.001 n/a 109.25% 109.25 Uncapped n/a

 

General Offer – 5.5 year term 

 Initial Investment LevelInitial exchange rateHurdleHurdle Investment LevelPerformance CapPerformance Cap Investment Level
Class DV Australian Equity 5,492.04 n/a 112.25% 6,164.81 Uncapped n/a
Class DW European Equity 3,528.81 0.67432 112.25% 3,961.09 90%3 6,704.74
Class DX International Basket 100.001 0.74842 112.25% 112.25 85%3 See tables below

 

Professional – 3.0 year term

 Initial Investment LevelHurdleHurdle Investment LevelThreshold Payment RateThreshold Payment LevelPerformance CapPerformance Cap Investment Level
Class DY Australian Equity (Zero Threshold) 5,492.04 100.0% 5,492.04 121.6% 6678.32 Uncapped n/a

 

Professional – 5.5 year term

 Initial Investment LevelInitial exchange rateHurdleHurdle Investment LevelPerformance CapPerformance Cap Investment Level
Class EA US Low Volatility 261.52 0.74842 113.75% 297.48 Uncapped n/a

 

Classes EB-ED and EF-EG – 4.0 year term

 Initial Investment LevelInitial exchange rateHurdleHurdle Investment LevelPerformance CapPerformance Cap Investment Level
Class EB Australian Equity Focus Basket 100.001 n/a 124.0% 124.00 37%3 See tables below
Class EC Bond Fund Tilt Basket 100.001 n/a 124.0% 124.00 37%3 See tables below
Class ED US Equity Focus Basket 100.001 0.76352 124.0% 124.00 35%3 See tables below
Class EF Australian Equity Focus Basket (20 shares) 100.001 n/a 124.0% 124.00 37%3 See tables below
Class EG US Equity Focus Basket (20 shares) 100.001 0.76352 124.0% 124.00 35%3 See tables below

1 Please see tables below for the Constituent Start Levels of the Reference Asset Constituents for Classes DT, DU, DX, EB-ED and EF-EG.
2 For Classes DX, EA, ED and EG the Initial Exchange Rate is quoted in terms of AUD/USD. For Class DW, the Initial Exchange Rate is quoted in terms of AUD/EUR.
3 Classes DT, DX, EB-ED and EF-EG use Share Performance Caps, which apply 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 each class. Class DW uses a Term Performance Cap.

 

Class DT – Australian Equity Focus Basket (No Hurdle)

Reference Asset ConstituentConstituent Start LevelWeightConstituent Share Performance Cap Level
AMP AMP Limited 6.21 5% 8.07
ANZ Australia and New Zealand Banking Group Limited 32.25 5% 41.93
BHP BHP Billiton Limited 26.65 5% 34.65
BXB Brambles Limited 10.77 5% 14.00
CBA Commonwealth Bank of Australia 85.79 5% 111.53
CSL CSL Limited 88.06 5% 114.48
IAG Insurance Australia Group Limited 5.55 5% 7.22
NAB National Australia Bank Limited 33.07 5% 42.99
ORG Origin Energy Limited 11.36 5% 14.77
QBE QBE Insurance Group Limited 13.79 5% 17.93
RIO Rio Tinto Limited 52.07 5% 67.69
SCG Scentre Group 3.81 5% 4.95
SUN Suncorp Group Limited 13.61 5% 17.69
TCL Transurban Group 9.65 5% 12.55
TLS Telstra Corporation Limited 6.21 5% 8.07
WES Wesfarmers Limited 39.88 5% 51.84
WFD Westfield Corporation 9.28 5% 12.06
WBC Westpac Banking Corporation 33.10 5% 43.03
WPL Woodside Petroleum Limited 33.57 5% 43.64
WOW Woolworths Limited 26.92 5% 35.00

 

Class DU – Best-of Basket

Reference Asset ConstituentConstituent Start LevelASX Tilt WeightBond Fund Tilt Weight
S&P/ASX 200 Index 5,492.04 60% 20%
PIMCO GIS Total Return Bond Fund 25.41 20% 60%
Winton Global Alpha Fund 1.1786 20% 20%

 

Class DX – International Basket

Reference Asset ConstituentWeightConstituent Start LevelConstituent Share Performance Cap Level
S&P 500 Index 35% 2,076.62 3,841.75
EURO STOXX 50 Index 35% 3,528.81 6,528.30
iShares Asia 50 ETF 20% 48.52 89.76
Winton Global Alpha Fund 10% 1.1786 2.1804

 

Class EB – Australian Equity Focus Basket

Reference Asset ConstituentConstituent Start LevelWeightConstituent Share Performance Cap Level
ANZ Australia and New Zealand Banking Group Limited 32.46 10% 44.47
CBA Commonwealth Bank of Australia 86.66 10% 118.72
NAB National Australia Bank Limited 33.71 10% 46.18
SCG Scentre Group 3.79 10% 5.19
SGP Stockland 4.13 10% 5.66
SUN Suncorp Group Limited 13.80 10% 18.91
SYD Sydney Airport 5.36 10% 7.34
TCL Transurban Group 9.85 10% 13.49
TLS Telstra Corporation Limited 6.13 10% 8.40
WBC Westpac Banking Corporation 32.76 10% 44.88

 

Class EC – Bond Fund Tilt Basket

Reference Asset ConstituentWeightConstituent Start LevelConstituent Share Performance Cap Level
S&P/ASX 200 Index 20% 5,538.30 7,587.47
PIMCO GIS Total Return Bond Fund 60% 25.50 34.94
Winton Global Alpha Fund 20% 1.1775 1.6132

 

Class ED – US Equity Focus Basket

Reference Asset ConstituentConstituent Start LevelWeightConstituent Share Performance Cap Level
CVX Chevron Corporation 94.77 10% 127.94
GE General Electric Company 26.31 10% 35.52
KO The Coca-Cola Company 39.42 10% 53.22
JNJ Johnson and Johnson 98.20 10% 132.57
MRK Merck & Co. Inc 57.55 10% 77.69
PFE Pfizer Inc 33.25 10% 44.89
PG The Procter & Gamble Company 80.05 10% 108.07
T AT&T Inc 35.61 10% 48.07
VZ Verizon Communications Inc 47.04 10% 63.50
XOM Exxon Mobil Corporation 82.53 10% 111.42

 

Class EF – Australian Equity Focus Basket (20 shares)

Reference Asset ConstituentConstituent Start LevelWeightConstituent Share Performance Cap Level
AMP AMP Limited 6.22 5% 8.52
ANZ Australia and New Zealand Banking Group Limited 32.46 5% 44.47
BHP BHP Billiton Limited 26.59 5% 36.43
BXB Brambles Limited 10.80 5% 14.80
CBA Commonwealth Bank of Australia 86.66 5% 118.72
CSL CSL Limited 88.14 5% 120.75
IAG Insurance Australia Group Limited 5.69 5% 7.80
NAB National Australia Bank Limited 33.71 5% 46.18
ORG Origin Energy Limited 11.75 5% 16.10
QBE QBE Insurance Group Limited 14.19 5% 19.44
RIO Rio Tinto Limited 52.50 5% 71.93
SCG Scentre Group 3.79 5% 5.19
SUN Suncorp Group Limited 13.80 5% 18.91
TCL Transurban Group 9.85 5% 13.49
TLS Telstra Corporation Limited 6.13 5% 8.40
WES Wesfarmers Limited 39.75 5% 54.46
WFD Westfield Corporation 9.28 5% 12.71
WBC Westpac Banking Corporation 32.76 5% 44.88
WPL Woodside Petroleum Limited 34.76 5% 47.62
WOW Woolworths Limited 27.63 5% 37.85

 

Class EG – US Equity Focus Basket (20 shares)

Reference Asset ConstituentConstituent Start LevelWeightConstituent Share Performance Cap Level
MO.N Altria Group Inc 49.87 5% 67.32
T.N AT&T Inc 35.61 5% 48.07
BAX.N Baxter International Inc 38.04 5% 51.35
CVX.N Chevron Corporation 94.77 5% 127.94
KO.N The Coca-Cola Company 39.42 5% 53.22
COST.OQ Costco Wholesale Corporation 135.88 5% 183.44
XOM.N Exxon Mobil Corporation 82.53 5% 111.42
GE.N General Electric Company 26.31 5% 35.52
JNJ.N Johnson & Johnson 98.20 5% 132.57
MCD.N McDonald’s Corporation 95.65 5% 129.13
MRK.N Merck & Co. Inc 57.55 5% 77.69
MSFT.OQ Microsoft Corporation 44.39 5% 59.93
PEP.N Pepsico Inc 94.40 5% 127.44
PFE.N Pfizer Inc 33.25 5% 44.89
PM.N Philip Morris International 81.20 5% 109.62
PG.N The Procter & Gamble Company 80.05 5% 108.07
RTN.N Raytheon Company 96.75 5% 130.61
SO.N The Southern Company 43.12 5% 58.21
UPS.N United Parcel Service Inc – Class B 96.66 5% 130.49
VZ.N Verizon Communications Inc 47.04 5% 63.50

3 July 2015 - Change to the Term Performance Cap for June 2015 Class DW (European Equity)

The Term Performance Cap for Class DW has been changed from Uncapped to 90%. All other classes remain the same as indicated in the Term Sheet dated 1 April 2015.

09 June 2015 – Initial Investment Levels for June 2015 Offer Class EE

The final details of the Initial Investment Level, Hurdle and Performance Cap for Class EE units are provided below.

Fixed Distribution Class - 1 year term
 Class EE
Australian Equity
Initial Investment Level 5498.50
Hurdle 110.0%
Hurdle Investment Level 6048.35
Performance Cap * 120.0%
Performance Cap Investment Level 6598.2

* The final Performance Cap is lower than the indicative Performance Cap, but equal to the Minimum Performance Cap, noted in the Term Sheet for the offer of Class EE Units dated 15 April 2015.

25 May 2015 – Update to Australian Equity Focus Basket constituents for existing baskets

This update affects investors in classes of the Macquarie Flexi 100 Trust (Fund) that use the Australian Equity Focus Basket as a Reference Asset, being Classes V, BB, BC, BI, BJ, BN, BO, BR, BT, BV, BX, PMF1A, PMF1B, CJ, CK and CY (Relevant Classes). Classes DF, DI and PMF2 from the June 2014 and DP from the November 2014 offer are not affected.

The Australian Equity Focus Basket for the Relevant Classes included Westfield Group (WDC) as a constituent.

Due to a restructure, WDC has traded as Westfield Corporation (WFD) since 25 June 2014. Further, WDC’s Australian and New Zealand business has merged with Westfield Retail Trust (WRT) to trade as Scentre Group (SCG) since 25 June 2014.

For the Relevant Classes this event constituted a corporate event for the purposes of the Swap Agreement between the Fund and Macquarie Bank Limited (Macquarie), the Swap Counterparty.

Macquarie has broad discretions to adjust the terms of the Swap Agreement to preserve the economic equivalence of the rights and obligations of the Trust and Macquarie prior to a corporate 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:

  • replacing WDC with WFD as a Reference Asset Constituent, using an Initial Investment Level for WFD equal to 64.2415% of WDC’s Initial Investment Level.
  • Leaving the relevant Weight unchanged.

Note that the adjustment to the Initial Investment Level is consistent with the ASX mandated adjustments to ASX traded options referencing WDC.

22 Apr 2015 – TFN withholding tax rate

This update relates to the Product Disclosure Statement (PDS) for the Macquarie Flexi 100 Trust dated 18 September 2013 issued by Macquarie Financial Products Management Limited ABN 38 095 135 694 AFSL 237847.

The information in section 7.5.4 of the PDS is updated by replacing the section with the information below to take into account the temporary Budget Repair Levy.

Update to section 7 of the PDS

7.5.4 Tax file number

If you do not provide a tax file number or claim a valid exemption (or in certain circumstances provide an Australian Business Number), the Issuer will be required to deduct tax from your distributions at the highest marginal tax rate plus Medicare levy and, until 30 June 2017, the 2% Budget Repair Levy.

6 Jan 2015 - FATCA and MySuper updates

2014

3 Dec 2014 - Initial Investment Levels for the November 2014 Offer

The final details of the Performance Caps, Initial Investment Levels and Constituent Start Levels for the November 2014 Offer are provided below.

Fixed Distribution Class – 3.0 year term

 Class DO
Australian Equity
(Zero Breakeven)

Initial Investment Level

5281.30
Hurdle 100.00%
Hurdle Investment Level 5281.30
Threshold Payment Rate 120.1%1
Threshold Payment Level 6342.841
Performance Cap Uncapped

 

Fixed Distribution Class3.5 year term

 Class DP
Australian Equity Focus
(No Hurdle)

Initial Investment Level

100.002
Hurdle 100.0%
Hurdle Investment Level 100.00
Performance Cap 30%3
Performance Cap Investment Level See tables below

 

Fixed Distribution Class – 5.5 year term 

 Class DS
Australian Equity
(No Hurdle)

Initial Investment Level

5281.30
Hurdle 100.0%
Hurdle Investment Level 5281.30
Performance Cap 50%
Performance Cap Investment Level 7921.95

 

1 The Threshold Payment Level is equal to the Threshold Payment Rate x Initial Investment Level. For more details, please refer to the Product Disclosure Statement and Information Booklet dated 18 September 2013, and the Term Sheet and Supplementary Product Disclosure Statement dated 8 September 2014 (together, the PDS).
2 Please see tables below for the Constituent Start Levels of the Reference Asset Constituents for Class DP.
3 Class DP 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 each class.

 

Class DP – Australian Equity Focus Basket (No Hurdle)

Reference Asset ConstituentConstituent Start LevelWeightConstituent Share Performance Cap Level
AMC Amcor Ltd 12.53 5% 16.29
AMP AMP Ltd 5.67 5% 7.37
ANZ Aust and NZ Banking Group 31.72 5% 41.24
BHP BHP Billiton Ltd 30.40 5% 39.52
BXB Brambles Ltd 9.92 5% 12.90
CBA Commonwealth Bank of Australia 80.74 5% 104.96
CSL CSL Ltd 84.63 5% 110.02
NAB National Australia Bank Ltd 32.39 5% 42.11
NCM Newcrest Mining Ltd 9.89 5% 12.86
ORG Origin Energy Ltd 11.76 5% 15.29
QBE QBE Insurance Group Ltd 10.99 5% 14.29
RIO Rio Tinto Ltd 57.93 5% 75.31
STO Santos Ltd 9.19 5% 11.95
SUN Suncorp Group Ltd 14.38 5% 18.69
TLS Telstra Corp Ltd 5.67 5% 7.37
WBC Westpac Banking Corp 32.73 5% 42.55
WFD Westfield Corporation 8.55 5% 11.12
WES Wesfarmers Ltd 41.00 5% 53.30
WOW Woolworths Ltd 30.24 5% 39.31
WPL Woodside Petroleum Ltd 34.86 5% 45.32

31 Jul 2014 - Initial Investment Levels for the June 2014 Offer

The final details of the Performance Caps, Initial Investment Levels, Constituent Start Levels and foreign exchange rates for the June 2014 Offer are provided below.

General Offer – 3.5 year term

 Class DF
Australian Equity Focus
(No Hurdle)
Class DG
US Low Volatility
Class DH
Best-of Basket

Initial Investment Level

100.001 242.55 100.001
Initial exchange rate n/a 0.93882 n/a
Hurdle 100.00% 110.00% 110.0%
Hurdle Investment Level 100.00 266.81 110.00
Performance Cap 30%3 Uncapped Uncapped
Performance Cap Investment Level See tables below n/a n/a

 

General Offer – 5.5 year term

 Class DI
Australian Equity Focus
(No Hurdle)
Class DJ
Australian Equity
Class DK
European Equity
Class DL
International Basket

Initial Investment Level

100.001 5,486.8 3,157.05 100.001
Initial exchange rate n/a n/a 0.69022 0.93882
Hurdle 100.0% 113.75% 113.75% 113.75%
Hurdle Investment Level 100.00 6,241.2 3,591.1 113.75
Performance Cap 50%3 Uncapped Uncapped 85%3
Performance Cap Investment Level See tables below n/a n/a See tables below

 

Grimsey Offer

 Class PMF2
Professional Market Focus
Class PIP1
Professional International Portfolio

Initial Investment Level

100.001 100.001
Initial exchange rate n/a 0.93882
Hurdle 100.0% 113.75%
Hurdle Investment Level 100.0 113.75
Performance Cap 30%3 Uncapped
Performance Cap Investment Level See tables below n/a

 

Classes DM and DN

 Class DM
Bond Fund Tilt Basket
Class DN
Bond Fund Tilt (US) Basket

Initial Investment Level

100.001 100.001
Initial exchange rate n/a 0.94832
Hurdle 126.0% 126.0%
Hurdle Investment Level 126.00 126.00
Performance Cap 40%3 40%3
Performance Cap Investment Level See tables below See tables below

 

Class DC

 Class DC
S&P/ASX 200 Index

Initial Investment Level

5,464.00
Initial exchange rate n/a
Hurdle 110.0%
Hurdle Investment Level 6,010.40
Performance Cap 22%3
Performance Cap Investment Level 6,666.08

1 Please see tables below for the Constituent Start Levels of the Reference Asset Constituents for Classes PMF2, PIP1, DF, DH, DI, DL, DM, and DN.
2 For Classes DG, DL, PIP1 and DN, the Initial Exchange Rate are quoted in terms of AUD/USD. For Class DK, the Initial Exchange Rate is quoted in terms of AUD/EUR.
3 Classes DF, DI, DL, PMF2, DM and DN use Share Performance Caps, which apply 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 each class. Class DC uses a Term Performance Cap.

 

Class DF, DI, PMF2 – Australian Equity Focus Basket (No Hurdle)

Reference Asset ConstituentConstituent Start LevelWeightConstituent Share Performance Cap Level (DF/PMF2)Constituent Share Performance Cap Level (DI)

AMC

Amcor Ltd

10.22 5% 13.29 15.33

AMP

AMP Ltd

5.39 5% 7.01 8.09

ANZ

Aust and NZ Banking Group

33.35 5% 43.36 50.03

BHP

BHP Billiton Ltd

37.58 5% 48.85 56.37

BXB

Brambles Ltd

9.16 5% 11.91 13.74

CBA

Commonwealth Bank of Australia

81.23 5% 105.60 121.85

CSL

CSL Ltd

67.49 5% 87.74 101.24

NAB

National Australia Bank Ltd

33.67 5% 43.77 50.51

NCM

Newcrest Mining Ltd

11.20 5% 14.56 16.80

ORG

Origin Energy Ltd

14.37 5% 18.68 21.56

QBE

QBE Insurance Group Ltd

11.47 5% 14.91 17.21

RIO

Rio Tinto Ltd

62.14 5% 80.78 93.21

STO

Santos Ltd

14.00 5% 18.20 21.00

SUN

Suncorp Group Ltd

13.63 5% 17.72 20.45

TLS

Telstra Corp Ltd

5.33 5% 6.93 8.00

WBC

Westpac Banking Corp

33.95 5% 44.14 50.93

WFD

Westfield Corporation

7.43 5% 9.66 11.15

WES

Wesfarmers Ltd

42.96 5% 55.85 64.44

WOW

Woolworths Ltd

35.97 5% 46.76 53.96

WPL

Woodside Petroleum Ltd

41.46 5% 53.90 62.19

 

Class PIP1 – International Low Volatility Basket

Reference Asset ConstituentWeightConstituent Start Level

Barclays US Low Volatility Equity Index

40% 242.55

Barclays Eurozone Low Volatility Equity Index

40% 163.24

Tracker Fund of Hong Kong

5% 23.95

MSCI Singapore Index

5% 375.07

KOSPI 200 Index

5% 256.72

MSCI Taiwan Index

5% 346.08

 

Class DH – Best-of Basket

Reference Asset ConstituentConstituent Start LevelASX Tilt WeightBond Fund Tilt Weight

S&P/ASX 200 Index

5,486.80 60% 20%

PIMCO GIS Total Return Bond Fund

25.32 20% 60%

Winton Global Alpha Fund

1.1434 20% 20%

 

Class DL – International Basket

Reference Asset ConstituentWeightConstituent Start LevelConstituent Share Performance Cap Level

S&P 500 Index

35% 1,967.57 3,640.00

EURO STOXX 50 Index

35% 3,157.05 5,840.54

iShares Asia 50 ETF

20% 48.65 90.00

Winton Global Alpha Fund

10% 1.1434 2.1153

 

Class DM – Bond Fund Tilt Basket

Reference Asset ConstituentWeightConstituent Start LevelConstituent Share Performance Cap Level

S&P/ASX 200 Index

20% 5,455.40 7,637.56

PIMCO GIS Total Return Bond Fund

60% 25.23 35.32

Winton Global Alpha Fund

20% 1.1528 1.6139

 

Class DN – Bond Fund Tilt (US) Basket

Reference Asset ConstituentWeightConstituent Start LevelConstituent Share Performance Cap Level

S&P 500 Index

20% 1,974.62 2,764.47

PIMCO GIS Total Return Bond Fund

60% 25.23 35.32

Winton Global Alpha Fund

20% 1.1528 1.6139

30 Jun 2014 - Confirmation of interest rates for June 2014 offers

The Investment Loan interest rates for classes in the June 2014 offers are as follows:
ClassesInvestment Loan interest rate
DF-DL 6.70% pa
DM and DN 6.95% pa
PMF2 and PIP1 6.50% pa

The Interest Loan interest rate for the year ending 29 June 2015 is 9.75% for all classes (if offered).

25 Jun 2014 - Update to Reference Asset Constituents for Classes DF, DI and PMF2

This update only affects prospective investors in Classes DF, DI and PMF2 of the Macquarie Flexi 100 Trust.

Due to a restructure, Westfield Group (WDC) will trade as Westfield Corporation (WFD) from 25 June 2014. Further, WDC’s Australian and New Zealand business has been merged with Westfield Retail Trust (WRT) to trade as Scentre Group (SCG) from 25 June 2014.

In the Australian Equity Focus Basket for the above classes, Macquarie Financial Products Management Limited has replaced WDC with WFD. The Weight of 5% is unchanged.

13 May 2014 - Update to PDS Section 3.6.2 for Classes DM and DN

For Classes DM and DN, after the first anniversary of 15 June 2014 the value of your Units may be greater than $A1.00 per Unit even if the level of the Reference Asset at the relevant Unit Valuation Date is lower than its level at the Swap Start Date.

2013

13 Dec 2013 - Initial Investment Levels for the November 2013 Offer

The final details of the Performance Caps, Initial Investment Levels, Constituent Start Levels and AUD/USD foreign exchange rates for the November 2013 Offer are provided below.

Fixed Distribution Classes - 3.5 year term

 Class CY
Australian Equity Focus
(No Hurdle)
Class CZ
Best-of Basket
Initial Investment Level 100.001 100.001
Initial exchange rate n/a n/a
Hurdle 100.0% 110.0%
Hurdle Investment Level 100.0 110.0
Performance Cap 30%2 Uncapped
Performance Cap Investment Level See tables below n/a
Fixed Distribution Classes - 5.5 year term
 Class DA
Australian Equity
(No Hurdle)
Class DB
Asian Equity
(No Hurdle)
Initial Investment Level 5,279.52 100.001
Initial exchange rate n/a 0.9163
Hurdle 100.0% 100.0%
Hurdle Investment Level 5,279.52 100.00
Performance Cap 50%3 50%3
Performance Cap Investment Level 7,919.27 150.00

1 Please see tables below for the Constituent Start Levels of the Reference Asset Constituents for Classes CY, CZ and DB.

2 Class CY 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 this class.

3 Classes DA and DB use a Term Performance Cap.

Class CY – Australian Equity Focus Basket 

Reference Asset ConstituentConstituent Start LevelWeightConstituent Share Performance Cap Level
AMC Amcor Ltd 10.90 5% 14.17
AMP AMP Ltd 4.63 5% 6.02
ANZ Aust and NZ Banking Group 31.85 5% 41.41
BHP BHP Billiton Ltd 36.90 5% 47.97
BXB Brambles Ltd 9.44 5% 12.27
CBA Commonwealth Bank of Australia 76.85 5% 99.91
CSL CSL Ltd 67.69 5% 88.00
NAB National Australia Bank Ltd 34.31 5% 44.60
NCM Newcrest Mining Ltd 7.77 5% 10.10
ORG Origin Energy Ltd 13.94 5% 18.12
QBE QBE Insurance Group Ltd 15.55 5% 20.22
RIO Rio Tinto Ltd 65.85 5% 85.61
STO Santos Ltd 13.97 5% 18.16
SUN Suncorp Group Ltd 13.05 5% 16.97
TLS Telstra Corp Ltd 5.06 5% 6.58
WBC Westpac Banking Corp 32.60 5% 42.38
WDC Westfield Group 10.18 5% 13.23
WES Wesfarmers Ltd 42.87 5% 55.73
WOW Woolworths Ltd 33.56 5% 43.63
WPL Woodside Petroleum Ltd 37.00 5% 48.10
Class CZ – Best-of Basket
Reference Asset ConstituentConstituent Start LevelASX Tilt WeightPIMCO Tilt Weight
S&P/ASX 200 Index 5,279.52 60% 20%
PIMCO GIS Total Return Bond Fund 24.69 20% 60%
Winton Global Alpha Fund 1.1867 20% 20%
Class DB – Asian Equity Basket
Reference Asset ConstituentWeightConstituent Start Level
Tracker Fund of Hong Kong 25% 24.20
MSCI Taiwan Index 25% 296.41
MSCI Singapore Cash Index 25% 368.82
KOSPI 200 Index 25% 267.58

15 Aug 2013 - Extension of notification period for Walk-Aways at end of September 2013

The notification period relating to Walk-Aways occurring on 30 September 2013 (or, for Classes BV and BW, 27 September 2013) has been extended to Tuesday 20 August. To ensure your notification is processed successfully, you are encouraged to submit your Walk-Away request form as soon as possible.

19 Jul 2013 - Initial Investment Levels for the June 2013 Offer

The final details of the Performance Caps, Initial Investment Levels, Constituent Start Levels and AUD/USD foreign exchange rates for the June 2013 Offer are provided below.

Fixed Distribution Classes - 3.5 year term
 Class CJ
Australian Equity Focus
(No Hurdle)
Class CK
Australian Equity Focus
Class CL
Best-of Basket
Initial Investment Level 100.001 100.001 100.001
Initial exchange rate n/a n/a n/a
Hurdle 100.0% 110.0% 110.0%
Hurdle Investment Level 100.0 110.0 110.0
Performance Cap 30%2 65%2 Uncapped
Performance Cap Investment Level See tables below See tables below n/a

Fixed Distribution Classes - 5.5 year term

 Class CM
Aust. Equity
(No Hurdle)
Class CN
Aust. Equity
Class CO
Asian Equity
(No Hurdle)
Class CP
US Equity
Initial Investment Level 4,901.40 4,901.40 100.001 1,652.62
Initial exchange rate n/a n/a 0.9191 0.9191
Hurdle 100.0% 113.75% 100.0% 113.75%
Hurdle Investment Level 4,901.40 5,575.34 100.00 1,879.86
Performance Cap 50%3 Uncapped 80%3 95%3
Performance Cap Investment Level 7,352.10 n/a 180.00 3,222.61

Fixed Distribution Classes – Grimsey offer

 Class PMI1A
Professional Market Index
Class PMI1B
Professional Market Index
Class PMF1A
Professional Market Focus
Class PMF1B
Professional Market Focus
Initial Investment Level 4,901.40 4,901.40 100.001 100.001
Initial exchange rate n/a n/a n/a n/a
Hurdle 100.0% 100.0% 100.0% 100.0%
Hurdle Investment Level 4,901.40 4,901.40 100.00 100.00
Performance Cap 50%3 50%3 30%2 30%2
Performance Cap Investment Level 7,352.10 7,352.10 See tables below See tables below

1 Please see tables below for the Constituent Start Levels of the Reference Asset Constituents for Classes CJ, CK, CL, CO, PMF1A and PMF1B.

2 Classes CJ, CK, PMF1A and PMF1B 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 those classes.

3 Classes CM, CO, CP, PMI1A and PMI1B use a Term Performance Cap.

Fixed Distribution Classes – Investec offer

 Class IB
Investec Low Volatility US Equity
Class IC
Investec Low Volatility US Equity
Initial Investment Level 31.72 31.72
Initial exchange rate n/a n/a
Hurdle 110.0% 113.75%
Hurdle Investment Level 34.8920 36.0815
Performance Cap Uncapped Uncapped
Performance Cap Investment Level n/a n/a

Classes CJ, CK, PMF1A and PMF1B – Australian Equity Focus Basket 

Reference Asset ConstituentConstituent Start
Level
WeightConstituent Share Performance Cap Level
Classes CJ, PMF1A and PMF1BClass CK
AMC Amcor Ltd 10.80 5% 14.04 17.82
AMP AMP Ltd 4.41 5% 5.73 7.28
ANZ Aust and NZ Banking Group 28.64 5% 37.23 47.26
BHP BHP Billiton Ltd 31.83 5% 41.38 52.52
BXB Brambles Ltd 9.46 5% 12.30 15.61
CBA Commonwealth Bank Of Australia 70.35 5% 91.46 116.08
CSL CSL Ltd 65.96 5% 85.75 108.83
NAB National Australia Bank Ltd 29.45 5% 38.29 48.59
NCM Newcrest Mining Ltd 9.95 5% 12.94 16.42
ORG Origin Energy Ltd 12.73 5% 16.55 21.00
QBE QBE Insurance Group Ltd 16.57 5% 21.54 27.34
RIO Rio Tinto Ltd 52.39 5% 68.11 86.44
STO Santos Ltd 13.93 5% 18.11 22.98
SUN Suncorp Group Ltd 12.17 5% 15.82 20.08
TLS Telstra Corp Ltd 4.77 5% 6.20 7.87
WBC Westpac Banking Corp 29.04 5% 37.75 47.92
WDC Westfield Group 11.65 5% 15.15 19.22
WES Wesfarmers Ltd 39.28 5% 51.06 64.81
WOW Woolworths Ltd 33.20 5% 43.16 54.78
WPL Woodside Petroleum Ltd 36.75 5% 47.78 60.64
Class CL – Best-of Basket
Reference Asset ConstituentConstituent Start LevelASX Tilt WeightPIMCO Tilt Weight
S&P/ASX 200 Index 4,901.40 60% 20%
PIMCO GIS Total Return Bond Fund 24.10 20% 60%
Winton Global Alpha Fund 1.1436 20% 20%
Class CO – Asian Equity Basket
Reference Asset ConstituentWeightConstituent Start Level
Tracker Fund of Hong Kong 20% 21.45
Hang Seng H-Share Index ETF 20% 93.70
MSCI Taiwan Index 20% 286.14
MSCI Singapore Cash Index 20% 358.74
KOSPI 200 Index 20% 236.23

19 Jun 2013 - Distribution Period 3 Details for Classes AO and AP

The Annual Performance Caps to apply for Distribution Period 3 of Classes AO and AP are set out in the table below. Distribution Period 3 runs from 14 June 2013 to 13 June 2014.

Both caps remain at 17%. The exchange rate at the end of Distribution Period 2 for Class AP was 0.9517.

ClassAnnual performance cap for distribution period 3Reference asset level at start of distribution period 3Annual performance cap for distribution period 3 - index level
AO - Australian Equity (Variable Distribution Class) 17% 4,791.80 5,606.41
AP - US Equity (Variable Distribution Class) 17% 1,626.73 1,903.27

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.

2012

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 ConstituentConstituent Start LevelWeightConstituent 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 ClassesPDSSection
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 ConstituentConstituent Start LevelWeightConstituent 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 ClassLoanInterest 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 ConstituentConstituent 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 ConstituentConstituent Start LevelWeight
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 ConstituentConstituent Start LevelASX Tilt WeightPIMCO 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 ClassLoanInterest 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 ConstituentsCommodities SectorBloomberg 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 ConstituentConstituent Start LevelConstituent Share Performance Cap Level - Class BBConstituent Share Performance Cap Level - Class BCWeight
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).

2011

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 LevelInitial exchange rateHurdleHurdle Investment LevelShare 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 ConstituentConstituent Start LevelWeight
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 ConstituentConstituent Start LevelConstituent Share Performance Cap LevelWeight
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 ConstituentConstituent Start LevelWeight
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 ConstituentConstituent Start LevelConstituent Share Performance Cap LevelWeight
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 ConstituentConstituent Start LevelConstituent Share Performance Cap LevelWeight
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 ConstituentConstituent Start LevelConstituent Share Performance Cap LevelWeight
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 ConstituentConstituent Start LevelWeight
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 2Annual 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 ClassesPrevious Distribution DateNew 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."

2010

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.