All Star IAM Australian Share Fund

Transcription

1 Product Disclosure Statement All Star IAM Australian Share Fund ARSN Read this This Product Disclosure Statement ( PDS ) provides a summary of significant information and contains a number of references to important information, each of which forms part of the PDS, including the information set out in the All Star IAM Australian Share Fund Reference Guide. You should consider the information before making a decision about the All Star IAM Australian Share Fund (the Fund ). The information in this PDS is general information only and doesn t take into account your personal financial situation or needs. You should consult a licensed financial adviser to obtain financial advice that is tailored to suit your personal circumstances. We consent to the use of this PDS by IDPS operators, masterfunds, wraps or similar platform products (referred to as IDPS) who include the Fund on their investment menus. Equity Trustees Limited ( Equity Trustees, EQT, us, we, our, and Responsible Entity ) is the Responsible Entity for the Fund. Ventura Investment Management Limited ( Ventura ) is the investment manager for the Fund. References to you in this PDS is generally a reference to a unit holder in the Fund, except where the context requires or where it is intended to refer to an indirect investor investing through an IDPS. Information in this PDS may change from time to time. Updated information that is not materially adverse may be provided on All Star s website at or by contacting All Star. A paper copy of the updated information will be provided without charge on request. EQT reserves the right to change any terms and conditions set out in this PDS. The offer or invitation to subscribe for units in the Fund under this PDS is only available to persons receiving this PDS in Australia. This PDS does not constitute a direct or indirect offer of securities in the US or to any US Person as defined in Regulation S under the US Securities Act of 1933 as amended ( US Securities Act ). EQT may vary its position and offers may be accepted on merit at EQT s discretion. The units in the Fund have not been, and will not be, registered under the US Securities Act unless otherwise approved by EQT and may not be offered or sold in the US to, or for, the account of any US Person (as defined) except in a transaction that is exempt from the registration requirements of the US Securities Act and applicable US state securities laws. Contact details If you have any questions or would like more information about All Star Funds phone fax mail GPO Box 1406 Melbourne, Victoria 3001 web Issued by Equity Trustees Limited ABN , AFS Licence No July 2014

2 Contents Page 1. About Equity Trustees Limited 2 2. How the All Star IAM Australian Share Fund works 3 3. Benefits of investing in the All Star IAM Australian Share Fund 4 4. Risks of managed investment schemes 4 5. How we invest your money 5 6. Fees and costs 6 7. How managed investment schemes are taxed 7 8. How to apply 8 1. About Equity Trustees Limited EQT, a company listed on the Australian Securities Exchange, is the Fund s Responsible Entity and issuer of this PDS. Established as a trustee and executorial service provider by a special act of the Victorian Parliament in 1888, today EQT is a dynamic financial services institution which will continue to grow the breadth and quality of products and services on offer. EQT s responsibilities and obligations as the Fund s Responsible Entity are governed by the Fund s constitution (Constitution), the Corporations Act and general trust law. As Responsible Entity, EQT is solely responsible for the management of the Fund. EQT has delegated the investment management functions to Ventura Investment Management Ltd which will make investment decisions in relation to the Fund. Ventura Investment Management Ltd Ventura Investment Management Ltd ABN , AFS Licence No ( Ventura ) has been managing client portfolios in Australia for more than 10 years. Ventura is owned by Centrepoint Alliance Limited, a diversified financial services company listed on the Australian Securities Exchange. Ventura s investment philosophy for the All Star funds focuses on delivering strong, sustainable returns through the appointment of high quality specialist investment managers. These independent managers are exclusively available to retail investors through the All Star funds, including the All Star IAM Australian Share Fund. The specialist investment manager decides the investments it will make in accordance with the performance objectives and risk management guidelines agreed with Ventura under an investment management agreement. Ventura reviews the specialist investment manager on an ongoing basis to ensure they are performing to investment expectations and managing the investments of the Fund according to the agreed processes. Independent Asset Management Pty Limited The specialist investment manager appointed for the All Star IAM Australian Share Fund is Independent Asset Management Pty Limited ABN , AFSL ( IAM ). IAM is a focused boutique Australian share manager established in 2001 by Mr Greg Matthews. Having joined the investment industry in 1979, Matthews is an Australian share market veteran with a formidable track record. After years of leading teams at large institutions, Matthews has set up a focused Australian equities boutique working with a highly experienced team of specialist analysts and fund managers. The bulk of the IAM team has been together for 10 years and is currently managing approximately $2 billion of investments. Much to its credit, IAM intends to fortify and maintain its boutique culture by capping funds under management at $3 billion. IAM aims to generate consistent top quartile returns by an active stock selection process through the whole investment cycle, which takes into account a macro economic view as well as a number of additional factors such as value, growth and earnings surprises. IAM do not limit themselves to a specific style of investment management, preferring to invest in stocks with opportunities based on valuations or earnings potential. IAM believes that equity markets tend towards efficiency, however they exhibit periods of inefficiency which create investment opportunities. IAM does not closely align the Fund to the standard share index. This may give investors a very different outcome to funds which closely reflect the index. All Star IAM Australian Share Fund Page 2

3 You should read the important information about your interests, changing your regular investment or withdrawal plan, freezes on withdrawals, anti-money laundering requirements, privacy, unit value, the rights of EQT, the retirement of EQT and fax service conditions ( the Important Information ) before making a decision. Go to and refer to the Reference Guide. The material relating to the Important Information may change between the time when you read this PDS and the day when you acquire the product. 2. How the All Star IAM Australian Share Fund works Managed Investments The All Star IAM Australian Share Fund is a managed investment scheme. When you invest your money in a managed investment scheme, your money is pooled together with other people s money. We use this pool of money to buy investments and manage them on behalf of all scheme members. This means that, through the managed investment scheme, you may access certain investments that you would not otherwise be able to access, your transaction costs may be reduced, and you have access to the knowledge of our independent investment manager through their investment decisions concerning the Fund. However, we, rather than you, have day to day control over the operation of the Fund. Your interests So that you know what your interest in the All Star IAM Australian Share Fund is worth, the total value of the assets in the scheme (which are normally valued each business day) is divided into units. We will quote you a price for each unit and will keep a record of the number of units you have bought. The price of units will change from time to time as the market value of assets in the Fund rises or falls. We will be able to provide you with information about the current unit price to help you decide whether to sell your units or buy more. You can get started with a minimum investment of $20,000, or $10,000 where you will be contributing to the regular investment plan. You can increase your investment at any time by buying more units in the Fund with a minimum of $5,000 or for the regular investment plan, $250 each month. Generally, you can decrease your investment by selling some or all of your units, although in certain circumstances (such as a freeze on withdrawals) you may have to wait for a period of time before you can reduce your investment. The minimum amount you can reduce your investment by is $5,000, unless you are withdrawing all of your investment. You can also set up a regular withdrawal plan from the Fund each month for $250 or more. Regular withdrawal payments will usually be made within five business days after the 15th business day of the month into your nominated bank account. We reserve the right to vary or waive the above minimum amounts. If investing through an IDPS, other minimums may apply and you can only increase and decrease your investment in accordance with the IDPS terms and conditions. Properly completed requests for applications or withdrawals received by us before 3.00pm Melbourne time on a business day will normally take effect that day. Withdrawals are usually processed within five working days. Distributions Income is distributed half-yearly to investors within 30 days after the end of June and December. In special circumstances, such as where there is a large withdrawal during a distribution period, we may change distribution periods by notice to investors. Depending on your selection, your distributions will be paid directly to your nominated account or reinvested. The unit price for reinvestment will be the price applying on the last business day of the distribution period, adjusted for distributions. There are no transaction costs for income reinvestment. If you do not make a selection or distributions cannot be paid into your account, distributions will be reinvested (less any bank charges), until you advise us otherwise. The income of the Fund is paid to investors in proportion to the number of units held by the investor on the last day of a distribution period. As distributions are part of the unit price, the unit price normally falls following a distribution. Investors who acquire units just before a distribution may receive some of their investment back immediately as income or investors who dispose of units just before a distribution may effectively turn income into capital. Holding of Fund assets the Custodian EQT has appointed National Australia Bank Limited ABN ( NAB or Custodian ) as the custodian of the assets and administrator of the Fund. The Custodian s role is limited to holding the assets of the Fund as agent of the Responsible Entity. The Custodian has no supervisory role for the operation of the Fund and is not responsible for protecting your interests. The Custodian has no liability or responsibility to you for any act done or omission made in accordance with the terms of the Custody Agreement. The Custodian makes no statement in this PDS and has not authorised or caused the issue of it. NAB has given and not withdrawn its written consent to be named in this PDS. All Star IAM Australian Share Fund Page 3

4 Other than money deposited in the custodian s account, investments of the Fund do not represent investments in, deposits with or other liabilities of, NAB or any other member of the NAB group of companies ( NAB Group ). Neither NAB, nor any other member of NAB Group, in any way stands behind the capital value, nor do they guarantee the performance of the investment or the underlying assets of the Fund, or provide a guarantee or assurance in respect of the obligations of EQT, Ventura or its related entities. 3. Benefits of investing in the All Star IAM Australian Share Fund Investing in the All Star IAM Australian Share Fund offers you a range of features and benefits: Independent oversight - investment manager appointment and monitoring. Services to make investing easier we will send you a confirmation of investment or withdrawal plus regular statements to keep you up to date with your account, including an annual taxation statement (if investing through an IDPS they will provide you with this information). Dedicated client service you can access our All Star Client Service Centre by calling Monday to Friday between 9.00am and 5.30pm Sydney time (excluding NSW public holidays). Online information - you can obtain general information online about the Fund, including past performance, at including audited annual financial reports. Investor protection - your rights are set out under the Constitution which established the Fund as well as under the Corporations Act. EQT has a compliance plan used to monitor compliance with the Corporations Act and the Constitution. The compliance plan and fund accounts are lodged with ASIC and independently audited each year. Details of this Fund, including what assets it invests in, are set out later in this PDS in Section 5, How we invest your money. You should read the important information about the rights of investors before making a decision. Go to and refer to the Reference Guide. The material relating to the rights of investors may change between the time when you read this PDS and the day when you acquire the product. 4. Risks of managed investment schemes Investment risks All investments have some level of risk. Different strategies may carry different levels of risk, depending on the assets that make up the strategy. Managed investment schemes can invest in a range of asset classes for example, cash, bonds, equities and property. The likely investment return, and the level of risk of losing money, is different for each investment option depending on the underlying assets. Those assets with potentially the highest return (such as equities), may also have the highest long-term risk of losing money on a shorter term view. The following significant risks apply to this investment: The level of returns may vary and future returns may differ from past returns. The value of investments will vary in line with movement in the value of the Fund s assets. Changes in the price of shares held for the Fund may result in a loss to the Fund. Many factors drive share prices, including profits made by companies and industries, economic cycles, volume of trading, investor demand, business confidence and government and central bank policies. If Fund investments are difficult to buy or sell, this can prevent the sale of an investment or the rebalancing of the Fund in a timely fashion and at a fair price. If the Fund is required to liquidate assets to settle withdrawals, there is a risk that liquidation may be made on unfavourable terms, subjecting the Fund to loss. The specialist investment manager may not achieve returns comparable to its peers or the specialist investment manager may be changed by Ventura. The Fund could be terminated or the Fund s rules could change. When considering investing in a managed investment scheme, it is important to understand that: returns are not guaranteed and you may lose some of your money. laws affecting your investment in a managed investment scheme may change in the future. The appropriate level of risk for you will depend on a range of factors including your age, investment time frame, where other parts of your wealth are invested and how comfortable you are with the possibility of losing some of your money in some years. Your financial adviser can help you understand investment risk and help you design an investment strategy that is right for you. All Star IAM Australian Share Fund Page 4

5 You should read the important information about switching and the extent to which environmental and ethical considerations are taken into account when we invest ( the Important Information ) before making a decision. Go to and refer to the Reference Guide. The material relating to the Important Information may change between the time when you read this PDS and the day when you acquire the product. 5. How we invest your money You should consider the likely investment return, risk and your investment timeframe when choosing an investment. The table below shows a summary of the Fund s investment profile. DESCRIPTION OF INVESTMENT OPTION TYPE OF INVESTOR FOR WHOM SUITABLE MIX OF ASSET CLASS/TYPE INVESTMENT RETURN OBJECTIVE The Fund invests predominantly in shares and unit trusts listed or about to be listed on the Australian Securities Exchange ( ASX ). Investors seeking share-like returns who have a long investment horizon. Investors must be willing to accept the possibility of negative returns over the short to medium term. Asset Class Range% Australian securities Cash 0-10 To aim to provide a total return, before costs and tax, 3% higher than the Fund s benchmark of the S&P/ASX 200 Accumulation Index on a rolling 3 year basis. MINIMUM SUGGESTED TIME FRAME RISK LEVEL Suggested minimum investment timeframe is 5 years. The Fund is expected to have a high return volatility. Changes to the investment option and other matters We have the right to close or terminate the Fund and change the Fund s investment objective, asset classes and asset allocation ranges, investment manager(s) and investment approach, without prior notice to you. We will inform investors of any material change to the Fund s details. Please see All Star s website for any update, as well as for information on the current investment managers and their styles. 6. Fees and costs DID YOU KNOW? Small differences in both investment performance and fees and costs can have a substantial impact on your long term returns. For example, total annual fees and costs of 2% of your account balance rather than 1% could reduce your final return by up to 20% over a 30 year period (for example, reduce it from $100,000 to $80,000). You should consider whether features such as superior investment performance or the provision of better member services justify higher fees and costs. Your employer may be able to negotiate to pay lower administration fees. Ask the Fund or your financial adviser. TO FIND OUT MORE If you would like to find out more, or see the impact of the fees based on your own circumstances, the Australian Securities and Investments Commission (ASIC) website (www. moneysmart.gov.au) has a managed investment fee calculator to help you check out different fee options. All Star IAM Australian Share Fund Page 5

6 Fees and costs This table shows fees and other costs that you may be charged in the Fund and can be used to compare costs between different managed investment schemes. These fees and costs may be deducted from your money, from the returns on your investment or from the Fund assets as a whole. Details about taxes are set out in a later part of this PDS in Section 7, How managed investment schemes are taxed. You should read all of the information about fees and costs because it is important to understand their impact on your investment. TYPE OF FEE OR COST AMOUNT Fees when your money moves in or out of the Fund Establishment fee Contribution fee Withdrawal fee Exit fee Management costs Nil Nil Nil Nil You should read the important information about management costs, performance fees, financial adviser remuneration, maximum management costs, abnormal expenses and wholesale investors ( the Important Information ) before making a decision. Go to and refer to the Reference Guide. The material relating to the Important Information may change between the time when you read this PDS and the day when you acquire the product. The fees and costs for managing your investment 0.99% of the net Fund value of your investment per year (inclusive of the net effects of GST) is the current estimated management costs (also known as the ICR ) for managing your investment. The investment manager fees are included in these costs and are not an additional cost to investors. This amount may vary from time to time and it is calculated on a historical basis. Performance fees may be paid to an underlying investment manager to achieve superior performance. If applicable, the performance fee is accrued in the unit price. This fee is included in the Fund s ICR and is not a separate fee payable by you. A performance fee of 23.83% p.a. will be payable if the Fund s performance exceeds the Fund s benchmark, the S&P/ASX 200 Accumulation Index plus investment management fees. The performance fee is calculated on this excess return and is accrued daily in the unit price and paid quarterly. If there is a period of underperformance to the benchmark, the accrued performance fee is frozen at its current level. The performance fee will not then accrue again until the value of the underperformance has been recouped back to the amount the performance fee was frozen at (the high water mark ). Performance fees are based on realised and unrealised gains. That means that a performance fee may be paid on unrealised gains that may never subsequently be realised. Transaction costs When you invest or withdraw from the Fund we deduct transaction costs applicable to cover the costs of buying or selling the Fund s assets. Transaction costs are an additional cost to investors. Transaction costs are retained by the Fund and are not paid to the Responsible Entity or investment manager. The estimated cost is 0.25% of the amount you invest and 0.25% of the amount you withdraw. Fee changes Keep in mind that the amount of transaction or management costs may change without investor consent, except if required by the Corporations Act. We will if possible give you at least 30 days prior notice of any material increase in the management fees. Updated transaction and management costs can be viewed online at All Star s website. How fees and costs are charged to you Fees and costs can be paid directly from your investment or deducted from investment returns. All Star IAM Australian Share Fund Page 6

7 Example of annual fees and costs for the Fund The following table gives an example of how the fees and other costs for this managed investment product can affect your investment over a 1 year period. You should use this table to compare this product with other similar managed investment products. BALANCE OF $50,000 WITH A CONTRIBUTION OF $5,000 DURING THE YEAR Contribution fees Nil For every $5,000 you put in, you will be charged nil. PLUS Management costs 0.99% p.a. inclusive of the net effects of GST And, for every $50,000 you have in the Fund you will be charged $495 a year. EQUALS Cost of Fund If you had an investment of $50,000 at the beginning of the year and you put in an additional $5,000 during that year, you would be charged a fee $495* What it costs you will depend on the fees you negotiate. * This example assumes the $5,000 contribution occurs at the end of the year and so management costs are calculated using the $50,000 balance only. This example does not include performance fees. The Responsible Entity does not consider there is any reasonable basis on which it may estimate performance fees. To estimate for performance fees would involve speculation about the future performance of the Fund against its performance hurdle. The Responsible Entity therefore considers that to estimate for performance fees may potentially be misleading. * An example of the impact of possible different levels of performance fees is shown in the Reference Guide in Section 6, Fees and Costs under the heading Performance fees. Fees paid to a financial adviser If you have a financial adviser, you may also have to pay other fees to your adviser. See the Statement of Advice given to you by your adviser. A service charge may be separately negotiated with your financial adviser and deducted from your investment at your request. These payments are separate from the management costs referred to in this PDS. 7. How managed investment schemes are taxed Warning: Investing in a registered managed investment scheme (such as the Fund) is likely to have tax consequences. You are strongly advised to seek your own professional tax advice about the applicable Australian tax (including income tax, GST and duty) consequences and, if appropriate, foreign tax consequences which may apply to you based on your particular circumstances before investing in the Fund. The Fund is an Australian resident for tax purposes and does not pay tax on behalf of its members. Australian resident investors are assessed for tax on any income and capital gains generated by the Fund. All Star IAM Australian Share Fund Page 7

8 8. How to apply 1. Read this PDS together with the Reference Guide. 2. Complete the Application available on or by calling For IDPS investors, you should consult your IDPS operator about investing. 3. You can then start to make regular and/or ad hoc payments into your account. A cooling-off period applies. We will return your money to you and no fees will apply (but the refund may be adjusted to reflect any change in unit prices, positively or negatively, and there may be some tax payable) if you cancel your account in writing. The 14 day cooling-off period commences on the earlier of you receiving confirmation from us that your investment has been accepted or five business days after the day on which units were issued to you. For IDPS investors, you should consult your IDPS operator about any cooling off rights you may have. Complaints If you are not completely satisfied with any aspect of our services regarding management of the Fund, please contact us. EQT Client Services Equity Trustees Limited GPO Box 2307 Melbourne Vic 3001 Telephone Fax equity@eqt.com.au Website EQT seeks to resolve potential and actual complaints over the management of the Fund to the satisfaction of investors. If an investor wishes to lodge a formal complaint please write to: Compliance Team Equity Trustees Limited GPO Box 2307 Melbourne Vic compliance@eqt.com.au Phone EQT will seek to resolve any complaint and will respond within 14 days of receiving the letter. If we are unable to resolve your complaint, you may be able to seek assistance from FOS: Financial Ombudsman Service (FOS) GPO Box 3 Melbourne Vic 3001 Telephone Fax info@fos.org.au Please include the EQT FOS membership number with your enquiry: FOS is an independent body that can assist you if EQT cannot. In order for a complaint to be considered by FOS, the claim must be less than $280,000 (unless EQT and you agree otherwise in writing).ergtrg If you are investing through an IDPS, then enquiries and complaints should be directed to the operator of the IDPS, not EQT. All Star s contact details are on the front cover. All Star IAM Australian Share Fund Page 8

9 All Star Funds Application Form Application Form All Star IAM Australian Share Fund All Star Maple-Brown Abbott Listed Property Fund IAM Small Companies Fund If completing by hand, use a black or blue pen and print within the boxes in BLOCK LETTERS Use ticks in boxes where applicable The applicant must complete, print and sign this form Keep a photocopy of your completed Application Form for your records Please ensure all relevant sections are complete before submitting this form This application form is part of the Product Disclosure Statement dated 1 July 2014 ('PDS') and the relating to units in the All Star funds issued by Equity Trustees Limited (ABN , AFSL ). The PDS contains information about investing in the Fund. You should read the PDS before applying for units in the Fund. A person who gives another person access to the Application Form must at the same time and by the same means give the other person access to the PDS. EQT will provide you with a copy of the PDS, Reference Guide and the Application Form on request without charge (If you make an error while completing your application form, do not use correction fluid. Cross out your mistakes and initial your changes). US Persons: This offer is not open to any US Person. Please refer to the Product Disclosure Statement for further information. Section 1 Introduction Are you an existing All Star investor? YES my details are: Investor Number Account Name Contact Telephone Number (Including Country Code) Now go to section 8. NO only complete the sections relevant to you, as indicated below: Select One Account Type Sections to Complete Identification Requirement Groups to Complete Individual(s) 1,2,7,8, 9 (optional),10,11 Group A Partnership(s) 1,3,7,8,9 (optional),10,11 Group A & B Trust/Superannuation fund with an individual trustee Trust/Superannuation fund with a corporate trustee 1,2,4,7,8,9 (optional),10,11 Group C or D, & E 1,4,5,7,8,9 (optional),10,11 Group C or D, & E Company 1,5,7,8,9 (optional),10,11 Group F or G And complete these if you would like to appoint a power of attorney or agent Power of attorney or agent Section 6 Group H Financial Adviser Section 7 Group H Contacting the Fund Investor Services Post your completed application to: All Star Client Services on All Star Funds Registry Services GPO Box 1406, Melborne, VIC 3001, Australia All Star Funds Application Form 1 January 2016 Page 1 of 16

10 AML/Identification Requirements The AML/CTF Act requires the Responsible Entity to adopt and maintain an anti-money laundering and counter-terrorism financing ('AML/CTF') compliance program. The AML/CTF compliance program includes ongoing customer due diligence, which may require the Responsible Entity to collect further information. Identification documentation provided must be in the name of the Applicant. Non-English language documents must be translated by an accredited translator. Applications made without providing this information cannot be processed until all the necessary information has been provided. If you are unable to provide the identification documents described please call All Star Client Services on These documents should be provided as a CERTIFIED COPY of the original. GROUP A Individuals Each individual investor, individual trustee, partner or individual agent must provide one of the following: A current Australian driver s licence (or foreign equivalent) that includes a photo An Australian passport A current passport (or similar) issued by a foreign government or the United Nations (UN) (or an agency of the UN) that provides your signature An identity card issued by a State or Territory Government that includes a photo GROUP B Partnerships Provide one of the following: A certified copy or certified extract of the partnership agreement A certified copy or certified extract of minutes of a partnership meeting A notice issued by the Australian Taxation Office ( ATO ) within the last 12 months An original or certified copy of a certificate of registration of business name issued by a government agency in Australia Group A verification requirements for each partner and beneficial owner of the Partnership GROUP C Registered Managed Investment Scheme, Regulated Superannuation Fund (including self- managed) or Government Superannuation Fund Provide one of the following: A copy of the company search on the ATO database A copy of the company search of the relevant regulator s website A copy or relevant extract of the legislation establishing the government superannuation fund sourced from a government website GROUP D Other Trusts Provide one of the following: A certified copy or certified extract of the Trust Deed Signed meeting minutes showing the full name of the trust Annual report or audited financial statements A certified copy of a notice issued by the ATO within the previous 12 months Group A verification requirements for each beneficial owner of the trust GROUP E Trustees If you are an Individual Trustee please provide the identification documents listed under Group A If you are a Corporate Trustee please provide the identification documents listed under Group F or G. If you are a combination of both please complete for one trustee from each investor type listed under Group A and F or G GROUP F Australian Companies Provide one of the following: A certified copy of the Certificate of Registration or Licence A copy of a company search on the ASIC database A copy of information regarding the company / trustee s licence or other information held by the relevant Commonwealth, State or Territory regulatory body All of above must clearly show the company s full name and type (i.e. public or private). Group A verification requirements for each beneficial owner (senior managing official and shareholder) listed in Section 5.4 of the application. GROUP G Non-Australian Companies Provide one of the following: A certified copy of the company s Certificate of Registration or incorporation (issued by ASIC or equivalent in the domestic jurisdiction) showing the company s registration number A certified copy of the company s articles of association or constitution A copy of a company search on the ASIC database or relevant foreign registration body All of above must clearly show the company s full name and type (i.e. public or private). Group A verification requirements for each beneficial owner (senior managing official and shareholder) listed in Section 5.4 of the application. GROUP H Agents All Star Funds Application Form 1 January 2016 Page 2 of 16

11 If you are an Individual Agent please provide the identification documents listed under Group A If you are a Corporate Agent please provide the identification documents listed under Group F or G Important Information Additional information required under the Anti-Money Under the AML/CTF Act and FATCA, the Responsible Entity is Laundering and Counter-Terrorism Financing Act 2006 and the prohibited from processing your application until all of the information Foreign Account Tax Compliance Act. and supporting documentation requested in this form has been In accordance with the Anti-Money Laundering and Counter- received. In most cases, the information that you provide in this form Terrorism Financing Act 2006 (the AML/CTF Act ) and the Foreign will satisfy the AML/CTF Act & FATCA. However, in some instances Account Tax Compliance Act (the FATCA ) the Responsible Entity is the Responsible Entity may contact you to request further information. required to collect additional information about you. The Responsible It may also be necessary for the Responsible Entity to collect Entity may also ask you to provide certified copies of certain information (including sensitive information) about you from third identification documents along with the Application Form. parties in order to meet its obligations under the AML/CTF Act and FATCA. Declarations When you complete this Application Form you make the following declarations: I/We have read the PDS to which this Application Form applies and agree to be bound by the terms and conditions of the PDS and the Constitution of the Fund in which I/we have chosen to invest. I/We acknowledge that EQT is not responsible for the delays in receipt of monies caused by the postal service or the applicant s bank. If I/we have provided an address, I/we consent to receive ongoing investor information including PDS information, confirmations of transactions and additional information as applicable via . I/We hereby consent to the transfer of any of my/our personal information to external third parties including but not limited to fund administrators, fund investment manager(s) and related bodies corporate who are located outside Australia for the purpose of administering the products and services which I/we have engaged the services of EQT or its related bodies corporate and to foreign government agencies (if necessary). I/We hereby acknowledge and agree that EQT have outlined in the PDS provided to me/us how and where I/we can obtain a copy of the EQT Group Privacy Statement. I/we hereby confirm that the personal information that I/we have provided to EQT is correct and current in every detail, and should these details change, I/we shall promptly advise EQT in writing of the change(s). If I/we lodge a fax application request, I/we acknowledge and agree to release, discharge and agree to indemnify EQT from and against any and all losses, liabilities, actions, proceedings, account claims and demands arising from any fax application. I/We have received and accepted this offer in Australia. I/We acknowledge that EQT does not guarantee the repayment of capital or the performance of the Fund or any particular rate of return from the Fund. I/We acknowledge that an investment in the Fund is not a deposit with or liability of EQT and is subject to investment risk including possible delays in repayment and loss of income or capital invested. If I/we have completed and lodged the relevant sections on authorised representatives/agents on the Application Form then I/we agree to release, discharge and agree to indemnify EQT from and against any and all losses, liabilities, actions, proceedings, account claims and demands arising from EQT acting on the instructions of my/our authorised representatives, agents and/or nominees. By signing this Application Form, I/we acknowledge that I/we have read and understood the PDS I/We have considered our personal circumstances and, where appropriate, obtained investment and / or taxation advice. If this is a joint application each of us agrees that our investment is held as joint tenants. I/We acknowledge that I am/we are 18 years of age or over and I am/we are eligible to hold units in the Fund in which I/we have chosen to invest. I/We acknowledge and agree that where the Responsible Entity, in its sole discretion, determines that: o o I/we are ineligible to hold units in a Fund or have provided misleading information in my/our Application Form; or I/we owe any amounts to EQT, then I/we appoint the Responsible Entity as my/our agent to submit a withdrawal request on my/our behalf in respect of all or part of my/our units, as the case requires, in the Fund. I/We agree to provide further information or personal details to the Responsible Entity if required to meet its obligations under anti-money laundering and counter-terrorism legislation and acknowledge that processing of my/our application may be delayed and will be processed at the unit price applicable for the Business Day as at which all required information has been received and verified. I/We hereby declare that I/we are not a US Person as defined in the PDS. Terms and conditions for collection of Tax File Numbers (TFN) and Australian Business Numbers (ABN) Collection of TFN and ABN information is authorised and its use and disclosure strictly regulated by tax laws and the Privacy Act. Investors must only provide an ABN instead of a TFN when the investment is made in the course of their enterprise. You are not obliged to provide either your TFN or ABN, but if you do not provide either or claim an exemption we are required to deduct tax from your distribution at the highest marginal tax rate plus Medicare levy to meet Australian taxation law requirements. For more information about the use of TFNs for investments, contact the enquiries section of your local branch of the ATO. Once provided, your TFN will be applied automatically to any future investments in the Fund where formal application procedures are not required (e.g. distribution reinvestments), unless you indicate, at any time, that you do not wish to quote a TFN for a particular investment. Exempt investors should attach a copy of the certificate of exemption. For super funds or trusts list only the applicable ABN or TFN for the super fund or trust. When you sign this Application Form you declare that you have read and agree to the declarations above. All Star Funds Application Form 1 January 2016 Page 3 of 16

12 Section 2 Individual(s) or Individual Trustee(s) Complete this section if you are investing in your own name or as an individual trustee. For AML requirements please refer to page Type of investor Tick one box only and complete the specified parts of this section. Individual complete 2.2 Sole Trader complete 2.2 and 2.4 Jointly with another individual(s) complete 2.2, Individual trustee for an individual complete 2.2, 2.3 and and 2.5 (if there is more than one individual trustee) Individual trustee for a trust complete 2.2 and 2.3 (also complete section 4) 2.2 Investor 1 Title Given Name(s) Surname Telephone Number (Including Country Code) (daytime) Date of Birth (DDMMYY) Tax File Number (TFN) or exemption code Reason for TFN Exemption Street Address (not a PO Box) Unit Number Street Number Street Name Suburb State Post Code Country of Birth Are you a foreign resident for tax purposes? No Yes, please advise country of residence Do you hold dual citizenship? No Yes, please advise which countries 2.3 Investor 2 Title Given Name(s) Surname Telephone Number (Including Country Code) (daytime) Date of Birth (DDMMYY) Tax File Number (TFN) or exemption code Reason for TFN Exemption Street Address (not a PO Box) Unit Number Street Number Street Name Suburb State Post Code Country of Birth Are you a foreign resident for tax purposes? No Yes, please advise country of residence Do you hold dual citizenship? No Yes, please advise which countries All Star Funds Application Form 1 January 2016 Page 4 of 16

13 2.4 Sole Trader Details Business Name (if applicable, in full) Australian Business Number (ABN) (if obtained)* Street Address Suburb State Postcode Country 2.5 Signing Authority Please tick to indicate signing requirements for future instructions (e.g. withdrawals, change of account details, etc.) Only one investor required to sign All investors must sign * See page 3 of the Application Form for terms and conditions relating to the collection of TFNs and ABNs Section 3 Partnerships Complete this section if you are investing for a partnership or as a partner. For AML requirements please refer to page General Information Full Name of Partnership Registered Business Names of Partnership (if any) Country where Partnership is established Tax File Number (TFN) or exemption code Reason for TFN Exemption 3.2 Type of Partnership Is the partnership regulated by a professional association? Yes, please provide details Name of Association Membership Details No, provide number of partners Partner 1 Title Given Name (s) Surname Telephone Number (including Country Code) (daytime) Date of Birth (DDMMYY) Unit Street Number Street Name Suburb State Postcode Country Country of Birth Partner 2 Title Given Name (s) Surname Telephone Number (including Country Code) (daytime) Date of Birth (DDMMYY) Unit Street Number Street Name Suburb State Postcode Country Country of Birth All Star Funds Application Form 1 January 2016 Page 5 of 16

14 Section 4 Trust / Superannuation Fund Complete this section if you are investing for a trust or superannuation fund. For AML requirements please refer to page General Information Full Name of Trust or Superannuation Fund Full Name of Business (if any) Country where Trust established Tax File Number (TFN) or exemption code Reason for TFN Exemption 4.2 Trustee Details How many trustees are there? Individual - at least one trustee must complete Section 2 of this form Company - at least one trustee must complete Section 5 of this form Combination - at least one trustee from each investor type must complete the relevant section of this form 4.3 Type of Trust Registered Managed Investment Scheme Australian Registered Scheme Number (ARSN) Regulated Trust (including self managed superannuation funds) Name of Regulator (e.g. ASIC, APRA, ATO) Registration/License Details Australian Business Number (ABN)* Other Trust (also complete section 4.4) Please Describe 4.4 Beneficiaries Complete Section 4.4 and 4.5 only if you ticked Other Trust in 4.3 Does the Trust Deed name beneficiaries? Yes, how many? Provide the full name of each beneficiary: (If more than 8, please provide as an attachment) No, describe the class of beneficiary: (e.g. the name of the family group, class of unit holders, the charitable purpose of charity name) * See page 3 of the Application Form for terms and conditions relating to the collection of TFNs and ABNs. 4.5 Beneficial Owners Please provide the Full Name of any beneficial owner of the trust. A Beneficial owner of a trust is any individual who has a 25% or more interest in the trust or controls the trust. This includes the appointor of the trust (who holds the power to appoint or remove the trustees of the trust), the settlor of any trust over $10,000 upon establishment, and beneficiaries with at least a 25% interest in the trust. All beneficial owners will need to provide AML verification documents as per page 2. Please provide beneficial owners as an attachment if there is insufficient space below: All Star Funds Application Form 1 January 2016 Page 6 of 16

15 Section 5 Company / Corporate Trustee Complete this section if you are investing for a company or where a company is acting as a trustee. For AML requirements please refer to page Company Type Australian Listed Public Company complete 5.2 Australian Proprietary Company or non-listed public company complete 5.2 and 5.4 Foreign Company complete all sections 5.2 Company Details Company Name ACN/ABN (if registered in Australia) Tax File Number (TFN) or exemption code Reason for TFN Exemption Given Name(s) of Contact Person Registered Street Address (Not PO Box) Suburb State Post Code Country Principal place of business in Australia Note for non-australian companies: you must provide a local agent name and address if you do not have a principal place of business in Australia. Tick if the same as above, otherwise provide: Registered Street Address (Not PO Box) Suburb State Post Code 5.3 Additional Details for non-australian Company Tick if the company is registered with ASIC Australian Registered Body Number (ARBN) Tick if the company is registered with a regulatory body Name of Regulatory Body Company Identification Number Issued (if any) Registered Company Address (Not PO Box) Suburb State Post Code Country 5.4 Beneficial owner a. Managing Officials: All proprietary or non-listed public domestic companies and foreign companies must provide the full name of each senior managing official/s of the company (such as the managing director or directors who are authorised to sign on the company s behalf): If there are more than 4 directors please provide as an attachment. b. Shareholders: All proprietary or non-listed public domestic companies and foreign companies must provide details of each shareholder who owns directly, jointly or beneficially at least 25% of the company s issued capital. Shareholder 1 Full Name Registered Street Address (Not PO Box) Suburb State Post Code Country All Star Funds Application Form 1 January 2016 Page 7 of 16

16 Shareholder 2 Full Name Registered Street Address (Not PO Box) Suburb State Post Code Country If there are more than 2 shareholders that each have at least 25% of the company s issued capital, provide as an attachment. * See page 2 of the Application Form for terms and conditions relating to the collection of TFNs and ABNs. Section 6 Authorised representative or agent Complete this section if you are completing this Application Form as an agent under a direct authority such as a Power of Attorney. You must also complete the section relevant to the investor/applicant that you are acting on behalf of. For AML requirements please refer to page Appointment of Power of Attorney I would like to appoint an authorised representative to operate on this account OR I am an agent under Power of Attorney or the investor s legal or nominated representative - complete 6.2 Full name of authorised representative / agent Title of role held with applicant Signature 6.2 Power of Attorney Documentation You must attach a valid Power of Attorney. The document is an original or certified copy The document is signed by the applicant / investor The document is current and complete The document permits the attorney / agent (you) to transact on behalf of the applicant / investor Section 7 Financial adviser By completing this section you nominate the named adviser as your financial adviser for the purposes of your investment in the Fund. You also consent to give your financial adviser / authorised representative / agent access to your account information unless you indicate otherwise by ticking the box below. For AML requirements please refer to page Financial adviser I am a financial adviser completing this application form as an authorised representative or agent. Name of Adviser AFSL Number Dealer Group Name of Advisory Firm Postal Address Suburb State Post Code Country Address of Advisory Firm (required) Address of Adviser Business Telephone Facsimile 7.2 Financial Adviser Declaration I/We hereby declare that I/we are not a US Person as defined in the PDS I/We hereby declare that the investor is not a US Person as defined in the PDS I have completed an appropriate customer identification procedure (CID) on this investor which meets the AML/CTF Act. AND EITHER I have attached the relevant CID documents OR All Star Funds Application Form 1 January 2016 Page 8 of 16