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21:43
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Originally posted by dynofish
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Hi jm...the following is a copy of a footnote in a relevant section of the fact sheet on the Australian Super site..."All investments in the AustralianSuper Member Direct investment option, including listed securities, Term Deposit/s and cash will be registered in the name of JP Morgan Nominees Australia Limited, as custodian, for AustralianSuper Pty Ltd as trustee of AustralianSuper. Consequently, members do not directly own the investment in their own name which prevents them from being able to participate in certain corporate actions such as Voting at Annual General and Extraordinary Meetings and Class Actions. "" A corporate action is an action taken by a publicly listed company relating to its securities. Frequently, corporate actions provide investors with different options so that each investor can elect the option they believe is best suited to their personal circumstances (an ‘elective’ corporate action). Other corporate actions simply occur (these are called ‘mandatory’ corporate actions). Direct investment option is affected by an elective corporate action, AustralianSuper allows you to make an election in relation to that action. email with any actions that you need to take. You will need to make your election through the platform before the cut-off date. The dates pertaining to the corporate action that you are provided may differ from any dates you see within the prospectus or other platforms. by members who have elected to participate in the corporate action and, through the custodian, submits as a single application to the company/registry. This can lead to differences in the way the platform may allocate any entitlements that AustralianSuper receives through the corporate action compared to the treatment for a single individual investor outlined under the terms of the corporate action and contained in the prospectus/ booklet accompanying the offer. An example of this can occur when the corporate action is scaled back due to high levels of investor demand. "
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Hey Dyno,
(20min delay)