Important Update

BT Super Trust PST – Investment Fund (APIR: BTA0502AU) Termination

The BT Super Trust PST – Investment Fund (APIR: BTA0502AU) (PST) will be terminated on 16 April 2021.

The BT Super Trust PST was closed to new investors in 2012 due to low demand from investors. In a recent review, the Trustee[1] noted that the fund’s small number of investors, and low funds under management has meant it has become unviable. As a result, a decision has been made that it’s in the best interests of investors for the fund to be terminated.

What does this mean for investors?

From 15 January 2021 any request for an application or withdrawal from the PST will be assessed on a case by case basis by the Trustee to ensure a price can be determined that is fair and reasonable for all unit holders. If this cannot be satisfied, then the Trustee of the PST may not be able to process your request. If you have arranged regular scheduled contributions to be made into your investment, they may be returned to you.

Payment of the proceeds of your investment holding will be made by the end of April 2021 and credited to the nominated bank account we have on file for your superannuation account. A separate notice confirming this payment will be sent to the registered unit holder.

A small proportion of your holdings may be withheld to meet outstanding tax payments. If there are residual amounts owed to you after any outstanding taxes are paid, we expect to pay these to you by October 2021.

We understand that this is an important change and encourage you to seek independent financial advice from your financial adviser and specific tax advice from a registered tax agent.

What do investors need to do?

To ensure that the proceeds of your investment are credited to your preferred bank account, and that you don’t miss out on important communications about your investment(s), please contact us if your bank account or mailing details have changed. To do this, you can write to us at the following address:

BT for Pendal Fund Services Limited

Attn: Corporate Accounts Team

GPO Box 2675

Sydney NSW 2001

Your letter should include the following details:

  • Your investor number: the C number found at the top of this letter
  • Your investment name: BT Super Trust – Investment Fund
  • What you would like to change e.g. your address or bank details
  • Authorised signature(s): for your account this is the nominated signatures held on your account, which were recorded at the time of your investment application (i.e. authorised signatories must sign either individually or any two jointly)
  • investment application (i.e. authorised signatories must sign either individually or any two jointly)

We’re here to help

We can also help if you need historical transaction information, to assist your financial adviser or tax agent to determine your taxation position (e.g. any likely capital gain impact) resulting from the termination.

If you have any questions about the PST termination, and your investment with us please call our Customer Relations team on 1800 813 886 between 8.00am and 6.00pm (Sydney time) Monday to Friday – We’d be happy to help.

[1] The Trustee of the Fund is BT Funds Management Limited (BTFM) ABN 63 002 916 458