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Macquarie Flexi 100 Trust


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About

Flexi allows investors to borrow to gain enhanced exposure to a range of domestic and international growth opportunities, with 100% protection of their loan principal amount.

Investors, including self-managed super funds (SMSFs)3, have the flexibility to ‘Walk-Away’ without incurring additional costs should their circumstances or market conditions change.4

How Flexi 100 works – watch the new video


Click here to download the Flexi flyer to learn more.

Information Booklet

Benefits & risks

Key benefits

  • Select from a range of market exposures, fixed distributions and investment terms offered throughout the year
  • Ability to exit with no costs via the ‘Walk-Away’ feature4
  • ATO Product Ruling provides certainty over interest deductibility5,6 
  • 100% borrowing at a fixed interest rate with no margin calls
  • 100% protection of the borrowed principal amount1
  • Upfront certainty of the investment’s holding cost over the term
  • Invest from as little as $25,000 with the flexibility to allocate between Classes upfront
  • Self managed super fund (SMSF) compliant.3

Risks

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

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

Walk-Away

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

How to Walk-Away

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

Please note Walk-Away requests cannot be withdrawn.

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

September 2015 Offer (Class EH)

WALK-AWAY DATE1NOTIFICATION DATE1UNIT VALUATION DATE
Last business day in December 15 November Early December
Last business day in March 15 February Early March
Last business day in June 15 May Early June
Second last business day in September 15 August Late September

For Class EH, if you exercise the Walk-Away feature of your Investment Loan on or before 15 September 2016 the value of your Units will be $1.00. From 16 September 2016 the Unit value will reflect the market value of the Investment Linked Swap Arrangements as at the date of valuation. Please refer to Section 3.6 of the Product Disclosure Statement dated 18 September 2013, and the September 2015 Offer Terms

June 2015 Offer (Class DT – DX, DY, EA)

WALK-AWAY DATE1NOTIFICATION DATE1UNIT VALUATION DATE
Last business day in September 15 August Early September
Last business day in December 15 November Early December
Last business day in March 15 February Early March
Second last business day in June 15 May Early June

For Classes DT – DX, DY and EA, if you exercise the Walk-Away feature of your Investment Loan on or before 30 June 2016 the value of your Units will be $1.00. From 1 July 2016 the Unit value will reflect the market value of the Investment Linked Swap Arrangements as at the date of valuation. Please refer to Section 3.6 of the Product Disclosure Statement dated 18 September 2013 (for Classes DT – DX) or Section 3.6 of the Information Memorandum (for Class DY and EA) dated 3 April 2015, and the June 2015 Offer Terms.

June 2015 Offer (Class EB – ED, EF – EG)

WALK-AWAY DATE1NOTIFICATION DATE1UNIT VALUATION DATE
Last business day in September 15 August Early September
Last business day in December 15 November Early December
Last business day in March 15 February Early March
Second last business day in June 15 May Late June

For Classes EB – ED and EF – EG, if you exercise the Walk-Away feature of your Investment Loan on or before 15 June 2016 the value of your Units will be $1.00. From 16 June 2016 the Unit value will reflect the market value of the Investment Linked Swap Arrangements as at the date of valuation. Please refer to Section 3.6 of the Product Disclosure Statement dated 18 September 2013, and the June 2015 Offer Terms

June 2015 Offer Class EE

WALK-AWAY DATE1NOTIFICATION DATE1UNIT VALUATION DATE
Last business day in September 15 August Early September
Last business day in December 15 November Early December
Last business day in March 15 February Early March

For Class EE, if you exercise the Walk-Away feature of your Investment Loan on or before 31 May 2016 the value of your Units will be $1.00. Please refer to Section 3.6 of the Product Disclosure Statement dated 18 September 2013, and the June 2015 Offer Terms.

June 2009 Offer (Class A – C Units)

Walk-Away date1Notification Date1Unit valuation date
Last business day in September 15 August Early September
Last business day in December 15 November Early December
Last business day in March 15 February Early March
Last business day in June 15 May Early June

November 2009 Offer (Class E – G Units)

Walk-Away date1Notification Date1Unit valuation date
Last business day in September 15 August Early September
Second last business day in November 15 October Early November
Last business day in March 15 February Early March
Last business day in June 15 May Early June

June 2010 Offer (Class H – R Units)

Walk-Away date1Notification Date1Unit valuation date
Last business day in September 15 August Early September
Last business day in December 15 November Early December
Last business day in March 15 February Early March
Second last business day in June 15 May Early June

November 2010 Offer (Class U – AA Units)

Walk-Away date1Notification Date1Unit valuation date
Last business day in September 15 August Early September
Second last business day in November 15 October Early November
Last business day in March 15 February Early March
Last business day in June 15 May Early June
For Classes U-Z, if you exercise the Walk-Away feature of your Investment Loan on or before 30 November 2011 the value of your Units will be $1.00. From 1 December 2011 the Unit value will reflect the market value of the Investment Linked Swap Arrangements as at the date of valuation. Please refer to Section 2.6 of Part I of the Product Disclosure Statement dated 13 September 2010 and the November 2010 Offer Terms for further details.

March 2011 Offer (Class AD – AF Units)

Walk-Away date1Notification Date1Unit valuation date
Last business day in September 15 August Early September
Last business day in December 15 November Early December
Second last business day in March 15 February Early March
Last business day in June 15 May Early June
For Classes AD-AF, if you exercise the Walk-Away feature of your Investment Loan on or before 30 March 2012 the value of your Units will be $1.00. From 1 April 2012 the Unit value will reflect the market value of the Investment Linked Swap Arrangements as at the date of valuation. Please refer to Section 2.6 of Part I of the Product Disclosure Statement dated 13 September 2010 and, if applicable, the Supplementary Product Disclosure Statement dated 9 March 2011, and the March 2011 Offer Terms for further details.

June 2011 Offer (Class AI – AR Units)

Walk-Away date1Notification Date1Unit valuation date
Last business day in September 15 August Early September
Last business day in December 15 November Early December
Last business day in March 15 February Early March
Second last business day in June 15 May Early June
For Classes AI-AN and Class AR, if you exercise the Walk-Away feature of your Investment Loan on or before 30 June 2012 the value of your Units will be $1.00. From 1 July 2011 the Unit value will reflect the market value of the Investment Linked Swap Arrangements as at the date of valuation. Please refer to Section 2.6 of Part I of the Product Disclosure Statement dated 13 September 2010 and, if applicable, the Supplementary Product Disclosure Statement dated 6 April 2011, and the June 2011 Offer Terms.

November 2011 Offer (Class AS– AV Units)

Walk-Away date1Notification Date1Unit valuation date
Last business day in September 15 August Early September
Second last business day in November 15 October Early November
Last business day in March 15 February Early March
Last business day in June 15 May Early June
For Classes AS-AV, if you exercise the Walk-Away feature of your Investment Loan on or before 30 November 2012 the value of your Units will be $1.00. From 1 December 2012 the Unit value will reflect the market value of the Investment Linked Swap Arrangements as at the date of valuation. Please refer to Section 3.6 of Part I of the Product Disclosure Statement dated 14 September 2011, and the November 2011 Offer Terms.

March 2012 Offer (Class AZ – BC Units)

Walk-Away date1Notification Date1Unit valuation date
Last business day in June 15 May Early June
Last business day in September 15 August Early September
Last business day in December 15 November Early December
Last business day in March 15 February Early March
For Classes AZ-BC, if you exercise the Walk-Away feature of your Investment Loan on or before 31 March 2013 the value of your Units will be $1.00. From 1 April 2013 the Unit value will reflect the market value of the Investment Linked Swap Arrangements as at the date of valuation. Please refer to Section 3.6 of Part I of the Product Disclosure Statement dated 14 September 2011, and the March 2012 Offer Terms.

June 2012 Offer (Class BF – BT Units)

Classes BF – BN, BS – BT

Walk-Away date1Notification Date1Unit valuation date
Last business day in September 15 August Early September
Last business day in December 15 November Early December
Last business day in March 15 February Early March
Second last business day in June 15 May Early June

Class BO

Walk-Away date1Notification Date1Unit valuation date
Last business day in September 15 August On or before 29 September
Last business day in December 15 November On or before 30 December
Last business day in March 15 February On or before 30 March
Second last business day in June 15 May On or before 28 June

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

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

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

September 2012 Offer (Class BU – BW Units)

Walk-Away date1Notification Date1Unit valuation date
Last business day in December 15 November Early December
Last business day in March 15 February Early March
Last business day in June 15 May Early June
Second last business day in September 15 August Early September
For Classes BU-BW, if you exercise the Walk-Away feature of your Investment Loan on or before 30 September 2013 the value of your Units will be $1.00. From 1 October 2013 the Unit value will reflect the market value of the Investment Linked Swap Arrangements as at the date of valuation. Please refer to Section 3.6 of Part I of the Product Disclosure Statement dated 14 September 2011, and the September 2012 Offer Terms.

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

Walk-Away date1Notification Date1Unit valuation date
Last business day in March 15 February Early March
Last business day in June 15 May Early June
Last business day in September 15 August Early September
Second last business day in November 15 October Early November
For Classes BX-BY and CA, if you exercise the Walk-Away feature of your Investment Loan on or before 30 November 2013 the value of your Units will be $1.00. From 1 December 2013 the Unit value will reflect the market value of the Investment Linked Swap Arrangements as at the date of valuation. Please refer to Section 3.6 of Part I of the Product Disclosure Statement dated 14 September 2011, and the November 2012 Offer Terms.

June 2013 Offer (Class CJ – CP, PMI1A, PMI1B, PMF1A, PMF1B and IB – IC Units)

Walk-Away date1Notification Date1Unit valuation date
Last business day in September 15 August Early September
Last business day in December 15 November Early December
Last business day in March 15 February Early March
Second last business day in June 15 May Early June
For Classes PMI1A, PMF1A, CJ – CP and IB – IC, if you exercise the Walk-Away feature of your Investment Loan on or before 30 June 2014 the value of your Units will be $1.00. From 1 July 2014 the Unit value will reflect the market value of the Investment Linked Swap Arrangements as at the date of valuation. For Classes PMI1B and PMF1B, if you exercise the Walk-Away feature of your Investment Loan on or before 1 July 2014 the value of your Units will be $1.00. From 2 July 2014 the Unit value will reflect the market value of the Investment Linked Swap Arrangements as at the date of valuation. Please refer to Section 3.6 of Part I of the Product Disclosure Statement dated 14 September 2011, and the June 2013 Offer Terms.

June 2013 Offer (Class CS Units)

Walk-Away date1Notification Date1Unit valuation date
Last business day in September 15 August On or before 30 September
Last business day in December 15 November On or before 30 December
Last business day in March 15 February On or before 30 March
Second last business day in June 15 May On or before 28 June
For Class CS, if you exercise the Walk-Away feature of your Investment Loan on or before 15 June 2014 the value of your Units will be $1.00. From 16 June 2014 the Unit value will reflect the market value of the Investment Linked Swap Arrangements as at the date of valuation. Please refer to Section 3.6 of Part I of the Product Disclosure Statement dated 14 September 2011, and the Class CS Offer Terms.

June 2013 Offer (Class CU Units)

Walk-Away date1Notification Date1Unit valuation date
16 September 15 August For all Walk-Away Dates: Business day prior to relevant Walk-Away Date (or earlier)
16 December 15 November
16 March 15 February
16 May 15 April
For Class CU, if you exercise the Walk-Away feature of your Investment Loan on or before 6 May 2014 the value of your Units will be $1.00. From 7 May 2014 the Unit value will reflect the market value of the Investment Linked Swap Arrangements as at the date of valuation. Please refer to Section 3.6 of Part I of the Product Disclosure Statement dated 14 September 2011, and the Class CU Offer Terms.

November 2013 Offer (Class CY DB)

Walk-Away date1Notification Date1Unit valuation date
Second last business day in November 15 October Early November
Last business day in March 15 February Early March
Last business day in June 15 May Early June
Last business day in September 15 August Early September
For Classes CY-DB, if you exercise the Walk-Away feature of your Investment Loan on or before 30 November 2014 the value of your Units will be $1.00. From 1 December 2014 the Unit value will reflect the market value of the Investment Linked Swap Arrangements as at the date of valuation. Please refer to Section 3.6 of the Product Disclosure Statement dated 18 September 2013, and the November 2013 Offer Terms.

June 2014 Offer (Class DC)

Walk-Away date1Notification Date1Unit valuation date
Last business day in September 15 August Early September
Last business day in December 15 November Early December
Last business day in March 15 February Early March
For Class DC, if you exercise the Walk-Away feature of your Investment Loan on or before 29 May 2015 the value of your Units will be $1.00. Please refer to Section 3.6 of the Product Disclosure Statement dated 18 September 2013, and the June 2014 Offer Terms.

June 2014 Offer (Class PMF2 – PIP1, DF – DL, DM – DN)

Walk-Away date1Notification Date1Unit valuation date
Last business day in September 15 August Early September
Last business day in December 15 November Early December
Last business day in March 15 February Early March
Second last business day in June 15 May Early June
For Classes PMF2 – PIP1, DF – DL, and DM – DN, if you exercise the Walk-Away feature of your Investment Loan on or before 30 June 2015 the value of your Units will be $1.00. From 1 July 2015 the Unit value will reflect the market value of the Investment Linked Swap Arrangements as at the date of valuation. Please refer to Section 3.6 of the Product Disclosure Statement dated 18 September 2013, and the June 2014 Offer Terms.

November 2014 Offer (Class DO-DP, DS)

Walk-Away date1Notification Date1Unit valuation date
Second last business day in November 15 October Early November
Last business day in March 15 February Early March
Last business day in June 15 May Early June
Last business day in September 15 August Early September
For Classes DO-DP and DS, if you exercise the Walk-Away feature of your Investment Loan on or before 30 November 2015 the value of your Units will be $1.00. From 1 December 2015 the Unit value will reflect the market value of the Investment Linked Swap Arrangements as at the date of valuation. Please refer to Section 3.6 of the Product Disclosure Statement dated 18 September 2013, and the November 2014 Offer Terms.

 

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

Product Ruling

The Australian Taxation Office has issued Product Rulings covering many classes of Flexi. A Product Ruling can provide certainty around particular tax consequences for investors who meet its requirements.5 For example, past Flexi Product Rulings have confirmed that:

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

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

Download the latest Product Ruling (PR 2013/16).

Indicative valuation

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

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

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

Past performance is not a reliable indicator of future performance.

Please click here to view the performance information.