Important disclosure notice

This notice from State Trustees Limited (State Trustees) relates to the following registered schemes of which State Trustees is the responsible entity:

  • Common Fund No. 3 (inveST Australian Equity Fund), ARSN 134 653 768
  • Common Fund No. 4 (inveST Diversified Income Fund), ARSN 134 653 482
  • Common Fund No. 5 (inveST Property Fund), ARSN 134 653 624
  • Common Fund No.11 (inveST International Equity Fund), ARSN 134 653 286
  • Common Fund No. 12 (inveST Balanced Fund), ARSN 134 653 857

For the purposes of this notice, the abovementioned five registered schemes are collectively referred to as the “inveST Funds”.

At a meeting of the board of directors of State Trustees held on Wednesday, 29 October 2014, the directors resolved (amongst other things) to approve that State Trustees take the necessary steps to bring about the inveST Funds being deemed no longer to be managed investment schemes for the purposes of the Corporations Act 2001 (Cth).

State Trustees has since taken the following steps:

  • State Trustees has changed its practice in relation to investment into the inveST Funds such that State Trustees will only permit new investments where State Trustees places the investment in the relevant inveST Fund within State Trustees’ own discretion (for example, where it is acting as attorney or trustee).
  • State Trustees has applied to the Australian Securities and Investments and Commission (ASIC), to have the inveST Funds de-registered as registered schemes.

By operation of s 20A of the State Trustees (State Owned Company) Act 1994 (Vic.), the Trustee Companies Act 1984 (Vic.) (TC Act) as in force immediately before the commencement of the Trustee Companies Legislation Amendment Act 2010 (Vic.) continues to apply with respect to State Trustees.  State Trustees has no current intention to cease to operate the inveST Funds as common funds within the meaning of Part VII of the TC Act as then in force.

State Trustees has lodged disclosure notices with ASIC in respect of the proposed deregistration.  Copies of the notices lodged with ASIC may be obtained from, or inspected at, any ASIC office.  You can also request a copy of the notices by calling us on 1800 636 203, during business hours Monday to Friday.   We will send you copies within five days of receiving your request.