Geared Equities Investment Web Update

This Web Update updates information in the Bell Geared Equities Investment Product Brochure dated 11 November 2019 (the Brochure). This document must be read together with the Brochure and any updated information on our website at www.bellpottercapital.com.au. To obtain a copy of the Brochure, you should contact Bell Potter Capital on 1800 787 233.

Important Information (inside front cover)

In section ‘GEI brochure’, the first paragraph is replaced with:

This brochure has been prepared by Bell Potter Capital Limited ABN 54 085 797 735 AFSL 360457 (Bell Potter Capital), the lender for Bell Geared Equities Investment (GEI). The information in this brochure is current as at August 2019. GEI is not offered to borrowers residing outside of Australia. The GEI Target Market Determination (TMD) are available free of charge at www.bellpottercapital.com.au or by contacting Bell Potter Capital on 1800 787 233. Previous versions of a TMD are available by calling 1800 787 233.

Section 2.0: Investment options

In section 2.2.2, the third paragraph is replaced with the following:

The product disclosure statement for each MIS on the Investment Menu is available by visiting the relevant issuer website. Please ensure that you have read the relevant product disclosure statement prior to making an investment decision to invest in an MIS. A copy of the Investment Trust product disclosure statement is available on the GEI website at www.bellpottercapital.com.au or alternatively contact your Account Manager on 1800 787 233 to obtain a copy. The Investment Trust TMD is available free of charge at www.bellpottercapital.com.au or by contacting Bell Potter Capital on 1800 787 233. Previous versions of the TMD are available by calling 1800 787 233.

Section 2.2.3 is replaced with the following:

Bell Potter Capital may unwind your Facility early if you do not submit a Securities Selection Form within 30 days of your loan being approved, however if you have:

  • had your loan approved in June
  • elected to prepay interest in advance for the first year, and
  • not submitted your Securities Selection Form in sufficient time for your GEI Securities to be acquired before the end of June,

then your loan will be drawn down and the proceeds will be invested in an approved Investment Trust at that time. The loan proceeds will remain there until you submit your Securities Selection Form or until your GEI Securities are able to be acquired. The Investment Trust product disclosure statement will be made available on the GEI website at www.bellpottercapital.com.au or alternatively contact your Account Manager on 1800 787 233 to obtain a copy. You can also obtain a copy of the Investment Trust Target Market Determination by calling Bell Potter Capital on 1800 061 327 or by visiting www.bellpottercapital.com.au. If we still have not received your completed Securities Selection Form 30 days after the loan proceeds are drawn down and invested in the Investment Trust we may unwind your GEI Facility. Please see section 3.4.5 – ‘Prepaying your Interest’ for further information.

Section 3.0: Loan and interest details

In section 3.4.2, the third paragraph is replaced with the following:

You will be notified of changes to your interest rate either in writing (including electronically) or via an update to our website (www.bellpottercapital.com.au) on or before the changes take effect.

Section 5.0: Risks

The first paragraph is replaced with the following:

The risks set out below should be considered before you make any decision in relation to borrowing under a GEI Facility and making an investment in GEI Securities. However this outline is not a comprehensive summary of all of the risks or other relevant considerations relating to GEI. In particular, if you are considering an investment in an MIS, please ensure that you download and read the product disclosure statement for the MIS, which is available at www.bellpottercapital.com.au (for the Investment Trust) or otherwise by visiting the relevant issuer website.

Section 6.0: What happens at the end of my GEI Facility?

In section 6.1, the second paragraph is replaced as follows:

As each GEI Security is treated individually, Bell Potter Capital will not offset the losses from one GEI Security in your portfolio against the gains referable to another GEI Security in your portfolio when exercising its rights under the Mortgage. The Loan Amount referable to each GEI Security in your portfolio (or GEI Security Loan Amount) will be displayed on your Loan Statements and online via BPC Online (www.bellpottercapital.com.au).

Section 8.0: Fees and expenses

In section 8.2.1, the paragraph is replaced as follows:

Where you choose to include MISs in your GEI portfolio, you should be aware that the MIS may charge additional fees and expenses such as management fees. Any additional fees and expenses charged will affect the performance of your GEI investment. You should ensure that you are aware of any additional fees and costs charged by an MIS into which you choose to invest. This information is available in the product disclosure statement for the relevant MIS, which is available at www.bellpottercapital.com.au (for the Investment Trust) or otherwise by visiting the relevant issuer website.

Section 12.0 Additional information

Section 12.3 is replaced as follows:

Bell Potter Capital welcomes feedback and values complaints. We are committed to providing high quality services and products so if you are dissatisfied, please let us know.

Lodging a Complaint

You can lodge a complaint by doing one of the following:

By phone:
Contact your Account Manager on 1800 787 233

By email:
BPC@bellpotter.com.au

By post to:
Head of Products
Bell Potter Capital Ltd
GPO Box 4718
MELBOURNE VIC 3001

What happens once you have lodged a complaint?

We will acknowledge receipt of your complaint, normally by the next business day, and we aim to resolve your complaint as quickly as possible.  More detailed information about our Internal Dispute Resolution policy is available at www.bellpottercapital.com.au.

What if the issue is not resolved?

If you are not happy with our response, you can lodge your complaint with the Australian Financial Complaints Authority (AFCA). AFCA is the external dispute resolution scheme established by the Commonwealth Government to provide independent financial services complaint resolution that is free to consumers.

AFCA’s contact details

Australian Financial Complaints Authority

Website:
www.afca.org.au

By Phone:
1800 931 678 (free call)

By Email:
info@afca.org.au

By Post:
Australian Financial Complaints Authority
GPO Box 3
MELBOURNE VIC 3001