Fill - Macquarie Investment Manager II (Australian National University)

Macquarie

Investment Manager II

IDPS Guide

Macquarie Wrap

This document is the Investor Directed Portfolio Service (IDPS) Guide for

Macquarie Investment Manager II (Investment Manager II), an IDPS operated by

Macquarie Investment Management Limited ABN 66 002 867 003 Australian

Financial Services Licence 237492 (MIML/we/us/our/the Operator).

MIML has appointed Bond Street Custodians Limited ABN 57 008 607 065

AFSL 237489 (BSCL) to hold your assets in custody. BSCL also liaises with

the product issuers of the managed investments that appear on the Investment

Menu. BSCL and MIML are both Macquarie Group entities. Macquarie Group

means Macquarie Group Limited and its related bodies corporate (as defined in

the Corporations Act 2001 (Cth) (Corporations Act)).

In deciding whether to acquire or continue to hold an investment, you should

consider this Guide. Applications can only be made on the application form

contained in the current IDPS Guide or online application. We may change any of

the terms and conditions in this Guide, including current fees and charges. Where

a change is materially adverse to investors, we will give investors notice as required

by law. Information that is not materially adverse is subject to change from time to

time and may be updated through the website macquarie.com.au/wrapofferdocs.

A paper copy of any updated information will be given, or an electronic copy will be

made available, free of charge upon request.

MIML is not an authorised deposit-taking institution for the purpose of the

Banking Act 1959 (Cth), and MIML’s obligations do not represent deposits or

liabilities of Macquarie Bank Limited ABN 46 008 583 542 AFSL 237502 (MBL).

MBL does not guarantee or otherwise provide assurance in respect of the

obligations of MIML.

Investments made through Investment Manager II, other than any holdings

in term deposits with MBL and the Macquarie Wrap Cash Account (Wrap

Cash Account), are not deposits with or other liabilities of MBL or of any

Macquarie Group company, and are subject to investment risk, including

possible delays in repayment and loss of income or principal invested.

Neither MBL, MIML nor any other member company of the Macquarie Group

guarantees the performance, the repayment of capital or any particular rate

of return of the investments purchased through Investment Manager II.

This offer is only available to people receiving this Guide (electronically or

otherwise) within Australia.

Investor Directed Portfolio Service Guide (IDPS)

issued by Macquarie Investment Management

Limited ABN 66 002 867 003 AFSL 237492.

DATE OF ISSUE: 23 November 2019

Contents

Smart administration solutions made simple ........02

How does Investment Manager II work? .............03

Features at a glance .............................................06

Opening and adding to your account ..................08

Understanding your investments ..........................10

About the service and custodian ..........................15

Fees and other costs ............................................18

Additional explanation of fees and costs ..............22

Transacting ...........................................................27

Reporting ..............................................................32

How do I withdraw? .............................................34

Taxation ................................................................36

Other information ..................................................38

Terms and conditions ...........................................40

Frequently asked questions ..................................44

Terminology used ................................................46

macquarie.com

A copy of this Guide is available from

macquarie.com.au/wrapofferdocs

To contact us, please call 1800 025 063.

Smart administration solutions made simple

What is a Wrap service?

A Wrap service draws all of your investments together around

a central cash flow account. This enables easy administration

of your account, as all buying, selling, reporting and

maintenance of investments held in your account occurs in

one place. Macquarie Wrap Solutions ABN 66 002 867 003

(Macquarie Wrap) offers Wrap services via a range of Wrap

products designed for investors who are looking for:

• access to a broad range of investment options

• consolidated reporting, and

• someone else to manage the paperwork related to

theiraccount.

You also benefit from online access to your account details

and tax-efficient features, all supported by Macquarie Wrap’s

leading-edge technology and deep technical know-how.

Investment Manager II

Investment Manager II is one of the Wrap products offered

through Macquarie Wrap.

Investment Manager II is operated by MIML. The Board of

MIML is comprised solely of independent directors.

Important information

This document (Guide) is an IDPS guide and aims to provide you with the information necessary to open and operate your

account once it is opened, as well as general information on the investment service.

The Investment Menu contains information about the Eligible Investments. It is available online at macquarie.com.au/investmenu

or can be provided to you on request free of charge.

This Guide should be read in conjunction with the Investment Menu and relevant Product Disclosure Statements (PDS) and

other disclosure documents of the Eligible Investments that you invest in. These documents are available from your adviser or

us free of charge.

This Guide, together with the Financial Services Guide for MIML, is available at macquarie.com.au/wrapofferdocs

If you are unable to access the online information, your adviser or MIML can provide the information in hard copy free of charge.

Companies named in this document have given and have not withdrawn their consent to statements by them, or statements

based on statements by them, in the form and context in which they appear.

The information contained in this Guide is general information only. We have not taken into account your objectives, financial

situation or needs. You should consider the appropriateness of the information in this Guide, taking into account your

objectives, financial situation and needs, before acting on any information in this Guide. You should obtain the relevant PDS

and other disclosure documents for the underlying investments that you may invest in before making any decision about

whether to acquire that investment through Investment Manager II.

MIML is a member of the Financial Services Council (FSC). FSC member companies must comply with standards set by the

association, which are primarily designed to inform investors.

How does Investment Manager II work?

Your and your adviser

Where you have an adviser linked to your account, they

should be your primary point of contact and any queries about

your account should be directed to them. When you open

your account and nominate an adviser to be linked to your

account, you authorise your adviser and their Associates to

give us instructions on your behalf as set out throughout this

Guide and you authorise us and our agents to rely on and act

on those instructions.

Your adviser can advise you on an investment strategy

which suits your risk profile and needs, and provide you

with information about the underlying investments (managed

investments including Separately Managed Accounts (SMAs),

Australian and international listed securities, domestic fixed

income securities and term deposits) that may be available

through your account.

With your authority, your adviser can buy and sell investments

within your account. Prior to investing, your adviser should

provide you with the relevant disclosure documents for these

investments or they are available from us on request. You should

carefully consider these disclosure documents before investing.

Your adviser is not authorised to withdraw money from

your account other than to transfer money to an account

nominated or as otherwise authorised by you.

Investment Manager II assists you and your adviser by minimising

the administration involved in managing your investments.

We do not provide you with advice which takes into account

your particular financial situation, needs or objectives.

If your adviser ceases to be licensed either temporarily or

permanently, we will remove the adviser from your account as

soon as practicable and cease to pay fees to the adviser.

Your adviser’s responsibilities

Where you have an adviser linked to your account, your

adviser may be responsible for, depending on the service

agreement you have with them, the following:

• advising you on which investment strategy and mix of

investments suit your risk profile and needs

• ensuring that you have all of the necessary information and

documentation to make informed investment decisions

• informing you of the potential risks involved with

investmentdecisions

• monitoring and giving you advice on your account

• establishing and maintaining your account online

• ensuring that you authorise all transactions

• acting on your instructions to us

• advising you if the balance in your Wrap Cash Account falls

below the minimum requirement

• providing you with reports on your account in addition to

our reporting, and

• providing you with a PDS and/or other disclosure

documents for managed investments (including SMAs),

Australian listed securities and term deposits offered, prior

to placing your investment instructions.

Registered to BPAY Pty Ltd ABN 69 079 137 518.

Macquarie Wrap Cash Account (Wrap Cash Account) is a deposit account provided by Macquarie Bank Limited ABN 46 008 583 542 AFSL237502.

Please refer to the Wrap Cash Account PIS for further details about the Wrap Cash Account available at macquarie.com.au/wrapofferdocs.

If you are opening a self-managed superannuation fund (SMSF) account.

Available for a sub-set of Eligible Investments only.

No capital gains tax assuming no change in beneficial ownership.

Wrap Cash

Account

Income

Invest

Australian

listed

securities

Managed

investments

(inc. SMAs)

Term

deposits

Domestic

fixed

income

International

listed

securities

Macquarie Wrap Cash Account (Wrap Cash Account) is a deposit account provided by Macquarie Bank Limited ABN 46 008 583 542 AFSL237502.

Please refer to the Wrap Cash Account PIS for further details about the Wrap Cash Account available at macquarie.com.au/TBC.

If you are opening a self-managed superannuation fund (SMSF) account.

Available for a sub-set of Eligible Investments only.

No capital gains tax assuming no change in beneficial ownership.

Registered to BPAY Pty Ltd ABN 69 079 137 518.

ATO

payments

Direct debits

Pension

payments

Adviser fees

Periodic

payments

Administration

fees

• Cheque, direct credit,

pay

or direct debit

• Super contributions

• Investment income

• Rental income

• Other income

Income deposits

• Managed investments

(excl. SMAs)

• Australian and international

listed securities

• Domestic fixed income

securities

Transfers-in

3,4

How does Investment Manager II work?

Changing advisers

In applying for and holding this product, we prefer you to have

an appropriately licensed adviser who is registered with us to

assist you with your account.

You must notify us if you change advisers or remove your

adviser. Your adviser may also instruct us to remove them as

the linked adviser on your account. You must also notify us, in

writing, of any new fees payable to your new adviser.

If your adviser is not registered with us, we will seek to assist

them in becoming registered.

Accounts with no adviser

Where you do not have an adviser linked to your account, you

will need to operate your account by dealing directly with us.

Investment and other instructions can be provided to us in

writing using the appropriate form.

If your adviser ceases to be licensed either temporarily or

permanently, we will remove the adviser from your account as

soon as practicable and cease to pay fees to the adviser.

Where this Guide contemplates something being done by an

adviser, where the context permits, it should also be read as

being done by you.

Your Wrap Cash Account

All cash transactions into or out of your account, including

deposits, payments, fees, charges and taxes are processed

through your Wrap Cash Account

. You can also deposit

directly into your Wrap Cash Account from different sources

using a variety of methods such as B

PAY

and electronic funds

transfer (EFT).

When opening your Investment Manager II account, we will

generally open a new Wrap Cash Account to be the central

cash flow account. If you have an existing Macquarie Cash

Management Account (CMA)

, you may elect to use this as the

central cash flow account of your Investment Manager II account.

This enables you to retain the same account number and operate

on the account as you always have done. If you elect this option,

your CMA will be converted to a Wrap Cash Account. If you do

not have a CMA or do not elect to use your existing CMA as

the central cash flow account for your Investment Manager II

account, we will open a new Wrap Cash Account.

Please note: The interest rate of your Wrap Cash

Account will generally be lower than that of the

prevailing CMA interest rate. While the interest rate of

the Wrap Cash Account is generally lower than the

CMA, the lower interest rate is a relevant factor in our

determination of the administration fee of Investment

Manager II, which is reduced while the Wrap Cash

Account interest rate remains lower than the CMA.

If you close your account at a future date and wish to retain

the Wrap Cash Account, you may elect to do so in your

account closure instructions to us. The Wrap Cash Account

will then be converted to a CMA (and the applicable CMA

interest rate will apply from this time).

Current interest rates are available online at

macquarie.com/au/personal/investments/macquarie-wrap

Your Wrap Cash Account will be used to:

• credit all cash investments and transfers

• buy investments

• receive income from investments

• receive proceeds from the sale of investments, and

• pay any fees, taxes and charges related to your account.

The Macquarie Wrap Cash Account (Wrap Cash Account) is a deposit account provided by Macquarie Bank Limited ABN 46 008 583 542

AFSL237502. Please refer to the Product Information Statement (PIS) available at macquarie.com.au/wrapofferdocs for further details about

the Wrap Cash Account.

The Macquarie Cash Management Account (CMA) is a deposit account provided by Macquarie Bank Limited ABN 46 008 583 542 AFSL 237502.

Please refer to the CMA Product Information Statement (PIS) for further details about the CMA available at macquarie.com.au/cma

How does Investment Manager II work?

Taking the ‘work’ out of paperwork

We process all investment transactions and manage corporate

actions on your behalf. In most cases, this is done according

to the instructions you provide to your adviser which are then

communicated to us.

This helps reduce the ongoing administrative work for

youradviser.

Corporate actions

We process corporate actions for both Australian and

international listed securities on your account according to

your instructions (where applicable), including:

• initial public offerings (floats)

• takeovers

• buy-backs

• share purchase plans

• rights (renounceable and non-renounceable), and

• share splits.

There may be circumstances where we may not process

corporate actions. Refer to the Transacting section in this

Guide for further details.

Transfer your existing investments into your account

You may transfer Australian and international listed securities

or managed investments (excluding SMAs) available on the

Investment Menu that you already own into your account

without having to sell them. Generally, there will be no capital

gains tax (CGT) liability as a consequence of the transfer.

Individual tax reporting

Your investment income and capital gains/losses are tracked

for you in any given year, making it easier to provide the

relevant details at tax time. You will not need to contact

different financial institutions for the details of your income

as a consolidated tax report for your account will be

availableonline.

Your investment instructions

Your account is held in your name and you make all the

investment decisions. If there is a corporate action, such as a

rights issue, we may contact your adviser with this information.

Your adviser can pass on your instructions to us to action.

Please refer to the About the service and custodian section in

this Guide for more information about the differences between

investing directly and investing via Investment Manager II.

Online reporting

To ensure the advice you receive is based on the latest

information, both you and your adviser can go online at any

time to view a consolidated picture of your account.

Outlined below are the main features of Investment Manager II. Further details are available in this Guide.

Feature Key information

Reporting

Online access Macquarie Online allows you to view details of your account, such as the overall value, asset

allocation and transaction history.

Statements Annual and quarterly statements for your account will be available online.

Group reporting Link multiple accounts to access a consolidated report.

Tax reporting A tax report for your account will be available online.

Investment options

Wrap Cash Account The central cash flow account for all the regular transactions into and out of your account.

Managed investments Over 500 professionally managed investments across a broad range of investment strategies and

styles. Some investment options are only available to wholesale investors, certain advisers, and

clients that have an adviser linked to their account.

SMAs Over 150 managed portfolios available through a number of SMA providers.

Australian listed securities A wide selection of eligible listed securities that can be transacted on the Australian Securities

Exchange (ASX).

International listed securities A wide selection of eligible international listed securities that can be transacted on

approvedexchanges.

Domestic fixed income A range of eligible domestic fixed income securities are available.

Term deposits A range of issuers, terms and rates are available.

Other eligible assets It may be possible to include other eligible assets in your account which do not fall into the

investment options described above.

Services

Margin lending You can borrow funds to increase the size of your investment account and use your account as

security for the loan.

Automated Investment Management Tools

Dollar cost averaging Regular monthly or quarterly investments from your Wrap Cash Account into managed investments.

Automatic cash management Manage the balance in your Wrap Cash Account through the automated buying and selling of

managed investments and SMAs.

Automatic rebalancing Rebalance the managed investments within your account to ensure that your account stays in line

with your investment strategy.

Investment/transaction minimums

Initial investment and

ongoingaccount balance

$10,000

Wrap Cash Account balance $1,000

Balance per term deposit $10,000

Balance per managed investment $250

Balance per SMA The minimum balance for each SMA is at the discretion of the SMA provider. For more information

regarding the minimum balance per SMA, please refer to the current SMA PDS and other

disclosure documents for the SMA available from your adviser or from us.

Managed investment transactions $100

Australian listed securities Balance and transactions are as required by the ASX, subject to a minimum tradeable value of $500.

International listed securities As required by the relevant foreign exchange (generally minimum $10,000).

Balance for domestic

fixedincome

As required by the issuer (generally $500,000).

Other eligible assets $5,000 (unless otherwise stated).

Features at a glance

Feature Key information

Additional investments

Cheque, direct credit or

PAYminimum

No minimum

Direct debit minimum No minimum

In-specie transfers Transfer your existing managed investments (excluding SMAs) or Australian and international listed

securities (which are currently available on the Investment Menu) into your account.

Withdrawals

Minimum withdrawal No minimum

Fees and other costs (for more information, refer to the Fees and other costs section)

Administration fees The fee paid to us for the general administration of your account.

Investment fees The fees charged by the product issuers for the managed investments, relevant SMAs and other

Eligible Investments held within your account.

Adviser fees You can negotiate the amount of fees (if any) your adviser will receive.

Other fees and costs Other fees and costs may apply to your account.

Transacting on your account

Online trading for your adviser With your authority, your adviser can buy and sell your investments online or through a

nominatedbroker.

Corporate actions If you hold listed securities, we generally allow you to participate in corporate actions such as share

purchase plans. Your adviser will lodge your instructions online on your behalf. Where you do not

have an adviser, your corporate action election instructions can be provided to us in writing.

Opening and adding to your account

Opening your account

To open your account, you or your adviser, on your behalf,

must complete the application form. You will be required to

confirm the details in the application form are correct and

that you wish to proceed with opening your account. You

can provide this confirmation electronically or by signing the

application form.

Additionally you must:

• have an adviser

• have online access, and

• nominate your current email address and mobile telephone

number for the purposes of receiving notices and

information about your account.

If you are an existing Macquarie Wrap investment account

holder, and you do not have an adviser linked to your existing

account(s), you are not required to have an adviser to open an

Investment Manager II account.

If you have an existing Macquarie CMA

in the same name

as your proposed Investment Manager II account (and this

account has not been linked previously to another Macquarie

Wrap Investment account), you may elect to convert your CMA

to a Wrap Cash Account

which will be your cash account

for this service. This enables you to retain the same account

number and operate on the account as you always have done.

Please note: The interest rate of the Wrap Cash

Account will generally be lower than that of the

prevailing CMA interest rate. If you do not have a CMA

or do not elect to use an existing CMA as the central

cash flow account for your account, we will open a

new Wrap Cash Account.

Before opening your account, please read the current Wrap

Cash Account Product Information Statement available at

macquarie.com.au/wrapofferdocs. A separate application

form for your Wrap Cash Account is not required as the

Investment Manager II application form will open both your

Investment Manager II account and your Wrap Cash Account.

When your account is opened, you will receive details

regarding your:

• Investment Manager II account

• Wrap Cash Account, and

• online access.

Who can open an Investment Manager II

account?

The following investors may be eligible to open an Investment

Manager II account:

• individuals over 18 years old

• joint account holders

• companies

• incorporated bodies (eg strata bodies corporate, trade

unions and some social or sporting associations)

• unincorporated bodies

• trustees, including trustees of self-managed superannuation

funds (SMSFs), and

• deceased estates.

You must ensure your email and mobile phone number remain

up to date. If any of your details change, including your

personal details, you are able to update these by notifying us

in writing. You and/or your adviser can also update some of

your personal details online. As your mobile phone number

is used for identification verification purposes, this cannot be

updated online.

Your first investment

Your first investment, comprising either a single or several

payments, must be at least $10,000.

Upon opening your account, your investments, excluding

those made by the transfer of existing assets, will be credited

to your Wrap Cash Account. With your authority, your adviser

should then purchase investments for you depending on the

arrangement you have with them.

You can invest into Investment Manager II by:

1. B

PAY

2. Direct debit

3. Direct credit

4. Cheque, or

5. Transferring-in existing assets.

There must be sufficient cash available in your Wrap Cash

Account to meet the minimum cash balance and fees, taxes

and other costs as set out in this Guide.

1. Transfer funds to your account using BPAY

BPAY is one of the easiest ways to transfer funds into

youraccount.

1. Access online/phone banking

If you do not have online or phone banking, contact

the financial institution holding the funds, which must

be a B

PAY payer, to sign up. Make sure the funds

you wish to transfer are available on the day of the

nominatedtransaction.

Please note: BPAY deposits take up to three

Business Days to clear.

2. Enter your customer reference number

When prompted, enter your customer reference number

(CRN) which is your Wrap Cash Account number.

3. Enter a biller code

Wrap Cash Account biller code: 667022

The Macquarie Cash Management Account is a deposit account provided by Macquarie Bank Limited ABN 46 008 583 542 AFSL 237502.

The Macquarie Wrap Cash Account is a deposit account provided by Macquarie Bank Limited ABN 46 008 583 542 AFSL 237502. Please refer to the

Product Information Statement available at macquarie.com.au/wrapofferdocs for further details about the Wrap Cash Account.

Opening and adding to your account

2. Direct debit

You can set up automatic regular deposits into your Wrap

Cash Account from external accounts in the same name by

completing the Direct debit request form available online or

from your adviser. We will debit an amount specified by you

from the financial institution nominated on the form at the

chosen frequency.

The amount will be deducted on a day of your choice and

credited to your Wrap Cash Account, generally on the second

Business Day following the deduction. You have a choice of

the following direct debit frequencies:

• once only at the time of the request

• weekly

• monthly

• quarterly

• half-yearly, or

• yearly.

To reduce or cancel your direct debit, you or your adviser can

simply contact us. Your direct debit will automatically cease if:

• your Wrap Cash Account is closed

• you do not make at least one successful direct debit in

every 12 month period, or

• three direct debits are rejected within a 12 month period.

We reserve the right to modify or cancel the direct debit at

any time; for example, where you have had three or more

dishonoured payments. We will notify you or your adviser.

3. Direct credit

You can transfer funds into your Wrap Cash Account from

other financial institutions. This differs from the direct debit

because you are giving instructions to your other financial

institution to credit funds from your external account, as

opposed to providing us instructions to debit from your

external account. Direct credits will generally be credited within

two Business Days of the transfer.

4. Cheque

You can deposit cheques at a Macquarie branch. All cheques

must be made payable to:

Macquarie Investment Manager II (full account name)

eg Macquarie Investment Manager II John Citizen

Cheques should be accompanied by either a new application

form or a deposit slip (available online) and be sent to us.

Cheques take approximately three Business Days to clear

and must be cleared before your selected investments can

bepurchased.

You can also deposit cheques at any participating National

Australia Bank (NAB) branch. We will usually credit your Wrap

Cash Account on the same Business Day, provided you lodge

your deposit at the counter on that day. Interest on the deposit

then accrues from that day.

NAB does not accept cash deposits or third-party cheques

on our behalf. Please do not use the Express Cheque Deposit

facility at NAB branches.

5. Transferring-in existing assets (in-specie transfer)

You may transfer into your account Australian and international

listed securities, domestic fixed income securities and

managed investments (excluding SMAs) as listed on our

Investment Menu that you already own.

Generally, the transfer will not result in a CGT event. Thisis

referred to as an in-specie transfer and can assist you

in consolidating your investments. We recommend that

you seek professional tax advice that will consider your

individualcircumstances.

You are unable to transfer term deposits into your account.

Dishonoured investments

If a direct debit or a cheque is dishonoured, you authorise

usto:

• pass on to you any fees associated with the dishonour

(these will be deducted from your Wrap Cash Account), and

• correct your account details to reflect the amount of the

investment that was dishonoured.

Understanding your investments

By investing through Investment Manager II you have access to an extensive

range of investments, including over 500 managed investments, SMAs,

Australian and international listed securities, domestic fixed income securities and

term deposits. Before investing, you should read any PDS and other disclosure

documents that are provided to you by your adviser or available from us.

A wide range of investment options

Not everyone’s investment needs are the same. That is why we

provide you with access to a wide variety of different investments.

A copy of the Investment Menu, which contains details on the

managed investments, SMAs, term deposits, and international

listed securities, is available from your adviser or us free of

charge on request or online at macquarie.com.au/investmenu.

You should read the PDS and other disclosure documents

associated with the managed investments, including SMAs,

you are considering. Due to the number of Australian listed

securities available to be traded and the frequency of updates,

we do not include each individual Australian listed security on the

Investment Menu. Please contact your adviser or us to confirm if

a particular security is available.

Eligible Investments

Managed investment schemes (managed investments)

Also referred to as managed funds, Investment Manager II

offers access to over 500 managed investments offered by a

variety of leading professional investment managers providing

access to a broad range of asset classes. The managed

investments available are generally wholesale funds, where

the management fees may be cheaper than the retail fees you

would pay if you invested in each managed investment directly.

Some managed investments are only available to wholesale

investors, certain advisers and investors that have an adviser

linked to their account. This may mean that some managed

investments currently available on our Investment Menu may not

be able to be accessed through your adviser or you where you

do not have an adviser linked to your account. Please contact

your adviser or us to confirm if a particular investment is available.

SMAs

A type of managed investment scheme, SMAs offered through

Investment Manager II allow you and your adviser to access

model portfolios provided by a range of investment managers.

SMAs provide the benefits of investing in traditional managed

investments with full transparency and beneficial ownership of

the underlying investments you are holding.

When you hold securities through SMAs, your tax position

is your own, so all income, credits and realised gains flow

directly to you without being affected by the actions of other

investors. For more information on the tax consequences

of SMAs, please refer to the PDS and other disclosure

documents of the relevant SMA.

Australian listed securities

A wide selection of eligible listed securities that can be

transacted on the ASX including ordinary shares, property

trusts, exchange traded funds and listed investment companies.

International listed securities

A wide selection of eligible international listed securities traded

on approved exchanges.

Domestic fixed income securities

A range of domestic fixed income securities are available to

be traded through an approved fixed income broker. Investors

are required to comply with minimum holdings and trade

requirements. Please contact your adviser or us if you require

further information on eligible securities and any other trading

rules or restrictions.

Term deposits

A range of issuers, terms and rates are available.

Other eligible assets

From time to time, we may approve other types of assets

for inclusion on the Investment Menu that do not fall into the

above categories.

Other personal assets

It may be possible to include in your portfolio reporting other

assets which are not Eligible Investment options. Your adviser

can provide us with details of these assets so that we can

include them in some of the reports available to you.

Although these assets will be added to some of your reports,

these investments will remain directly held by you and their

ongoing management and administration will remain with you

and your adviser.

Eligible investment selection process

Before we add to the Investment Menu, the investment is

subject to a number of suitability criteria. The criteria and

timing of the assessment varies across the different Eligible

Investments. The full suite of Eligible Investments is referred

to as the Investment Menu. The Investment Menu is updated

regularly, generally on a monthly basis.

Conversely, where matters are brought to our attention that

require an Eligible Investment on the Investment Menu to

be reassessed, we may close an investment option to new

investments where we deem this the most appropriate course

of action. Where this occurs and you hold the investment, we

will communicate this to you directly or via your adviser.

Understanding your investments

In adding or removing an Eligible Investment to or from the

Investment Menu, we do not take any responsibility for any

movement in asset price or costs as they relate to delays

in admitting or removing the investment nor do we make

any representations as to the suitability of the investment

either generally or for your personal circumstances.

Managed investments, SMAs, domestic fixed income

securities and term deposits

When adding or removing a managed investment, SMA,

domestic fixed income security or term deposit option to or

from the Investment Menu, the following criteria are considered.

1. Operational fit: this includes the availability of pricing and

performance data, the tax treatment and the ability of the

product issuer to integrate with our systems and whether

the asset can be easily traded.

2. Client demand: to meet the changing needs of clients,

the demand for investment products is assessed.

Other considerations may include any other factors that may

result in the investment not being manageable through our

existing processes.

Australian listed securities

Requests to add Australian listed securities are generally

considered based on the following criteria:

1. Operational fit: this includes whether the asset can be

easily traded, and the tax treatment, and

2. Whether the security is classified as a ‘fully paid

ordinary’ share: where this is not the case, additional

consideration may be required such as securities that are

paid in instalments and securities that may be classified

as a form of derivative.

International listed securities

Requests to add international listed securities to the Investment

Menu are generally considered based on the following criteria.

1. Approved exchange: we interface with a number of

international securities exchanges and details of these

exchanges are available from the Investment Menu from

your adviser or online.

2. Fully paid ordinary or common stock:

theseinvestments must be classified as ‘fully paid’ or

common stock by the approved exchange.

3. Market Capitalisation: to be approved for purchases,

the securities must have a minimum $500,000,000

marketcapitalisation.

Selecting your investments

Prior to investing, your adviser should provide you with

relevant disclosure documents for the investments that will

form your account. You should carefully read and understand

these disclosure documents before investing.

As the PDS for each investment may be updated or replaced

from time to time, your adviser should provide you with the most

recent PDS and other disclosure documents for each managed

investment you are considering prior to acting on your investment

instructions, unless you have already received the PDS and other

disclosure documents which are current on that date.

If you do not have an adviser, you should obtain the relevant

PDS and other disclosure documents (which are available

online) and will need to read and confirm you have read these

prior to us acting on your investment instructions.

The PDS and other disclosure documents for each managed

investment have been prepared by the relevant underlying

product issuer. These documents contain more detailed

information about the strategies and objectives, the manager

and the administration of the managed investment.

Margin lending – borrowing to increase the

amount you invest

Margin lending (also known as gearing) allows you to borrow

against your existing investments. Alternatively, instalment

gearing enables you to borrow against your regular savings.

Margin lending means you can increase the amount of money

you can invest.

However, margin lending is a high risk product that is suitable

for experienced investors only.

We work closely with our approved margin lenders to provide

enhanced online portfolio reporting to you and your adviser.

We will also provide details of your portfolio to your lender.

Your adviser can provide additional information on the margin

lending products (including fees and charges), as well as

how these products operate in conjunction with Investment

Manager II. Your adviser can also provide the necessary loan

application documents for the margin lender. You should

ensure that you carefully read and understand the margin

lender’s PDS and other disclosure documents, including the

risks, for a margin loan before you invest.

What are the risks?

In an investment context, risk is the possibility of not meeting

your financial objectives.

If the value of your investment is expected to change (up

or down) significantly over time, this is considered a volatile

or more risky investment. Investments that offer the highest

returns generally also carry the highest level of risk.

All investments involve some element of risk. Given the risks

of different asset classes over the long-term, investors could

generally expect share and property investments to generate

the highest average return with the most volatility. Fixed

interest and cash investments could be expected to produce

lower average returns, but with lower volatility. Periods of

extended volatility in both financial markets and the Australian

dollar may result in some long-term asset class returns varying

from what may generally be expected.

The level of risk associated with your account will depend in

part on the investment strategy you and your adviser adopt.

You need to consider the specific risks of the investments you

choose, which are included in the PDS and other disclosure

documents in addition to the risks described in this Guide.

How does diversification help reduce risk?

An important way to help manage the risks discussed above

is to ensure that the investment strategy chosen by you

and your adviser includes investments that are diversified

across a range of features. Diversification can be achieved

in various ways, including investing in various asset classes,

market sectors, geographical regions and investment

managers. As well as the risks, you should also consider how

Understanding your investments

It is important to be aware that investment risks may be able

to be managed or reduced, but they cannot be eliminated

completely. Details of some general and specific risks that

investors should consider when investing through Investment

Manager II are outlined in the General investment risks and

Specific investment risks tables.

There are other risks that may affect the performance

of investments. No assurance or guarantee as to future

profitability, return of capital or performance of the investments

can be provided by MIML, MBL, nor any other Macquarie

Group company or any of the product issuers (except where

stated). For more comprehensive details of the risks you may

be exposed to, you need to consider this Guide, the PDSs

and other disclosure documents of the underlying investments

you are considering.

Where you have an adviser, you should discuss these risks

with them prior to investing.

investing through Investment Manager II fits into your overall

investmentportfolio.

Diversification of your investment portfolio can be used as part

of your overall portfolio risk management to limit your exposure

to loss or underperformance of any one investment, product

issuer or asset class. A lack of diversification (arising from

investing a large proportion of your portfolio in the same asset

or type of investment) can increase the risk of losses and may

lead to a reduction in the amount of your savings.

Investment risks

In considering the associated risks when investing through

Investment Manager II, the risks you should be aware of can

be grouped into two broad categories:

• general investment risks: which arise from participating as

an investor in financial markets, and

• specific investment risks: are risks that stem from the

specific investment or product, such as changes to the

relevant management, operations or business environment.

General investment risks

Risk Description

Market A change in the price of shares (or other listed securities) in which you or your chosen managed investments have

invested may result in a loss of principal or large fluctuations in the unit prices. Factors that drive changes in share

prices may include changing profitability of, and confidence in, companies, industries/sectors, economic cycles,

volume of shares on issue, investor demand levels, business confidence and government and central bank policies.

Exposure to this risk may be reduced by investing in a range of investments outside of the affected market(s).

Please refer to the How does diversification help to reduce risk? section for further information.

Volatility Generally, the higher the potential return for the investment, the higher the risk, and the greater the chance of

substantial fluctuation in returns (including the possibility of losses) that may occur over time (especially over shorter

periods of time). Equity markets may experience sharp declines and become more volatile, at times to very high

levels. Investing in such volatile conditions implies a greater level of risk than an investment in more stable markets.

Inflation Your investments may not keep pace with inflation. Broadly, this means prices may increase by more than the value

of your investments. If this eventuates, you would not be able to buy as much with the value of your investments in

the future as you could now.

Interest rate Changes in interest rates may adversely affect the value of certain investments. An increase in interest rates may

lead to a reduction in the value of a fixed interest investment, and vice versa. This risk is usually greater for fixed

interest investments that have longer maturities.

Default Where money has been borrowed, there is the risk that the borrower (or product issuer) will not pay the interest

and/or repay the principal owing. For borrowers or issuers with lower credit ratings, this risk is generally higher.

Country The risk that political, economic or social developments may adversely affect the return on an investment in the

relevant country. Examples include political instability, recession and war. Exposure to country risk may be higher in

relation to investments in emerging markets or developing countries.

Issuer The risk that the product issuer may not achieve its performance objective or does not produce returns that

compare favourably against its peers.

Counterparty The risk of loss to your investment due to the failure of a party involved in any transaction to meet their obligations.

Counterparties can include brokers for exchange traded derivatives, structured investment counterparties, fixed

interest investment issuers and term deposit issuers.

Legal and

regulatory

Changes in laws or their interpretation, including taxation and corporate regulatory laws, practice and policy could

have a negative impact on your investment.

Investment

objective

Investment objective risk is the risk that your choice of investments will not meet your objectives. One measure of

an investment’s risk is how much the returns vary from period to period. The greater the variance in returns, the

more likely returns will differ from those expected over a given time period.

Understanding your investments

Specific investment risks

Risk Description

Liquidity Certain investments may be difficult to purchase or sell, preventing their conversion to cash or being rebalanced

within a timely period and at a fair price. Choosing an investment that has low liquidity or is not priced on a daily

basis may affect the timeframe within which we can process any future request from you to withdraw part or all of

your account. Additionally, some investments may, without prior notice, suspend or restrict further withdrawal of

funds. It is important that you understand this consequence before you select this type of investment. Please refer

to the How do I withdraw? section for further information.

While an investment may be liquid at the time of purchase, there is a risk that the investment may become illiquid

at a point in the future. Refer to the underlying PDS and other disclosure documents for each investment option for

further details on the investment’s liquidity.

For term deposits, liquidity risk is the risk of not being able to access your investment in a term deposit prior to the

maturity date. There are restrictions on breaking a term deposit held in your account, and these are outlined in the

How do I withdraw? section.

Concentration Concentration risk is the risk that poor performance of a single investment or group of investments significantly

affects your account’s return. Diversification across relevant investment features can reduce the impact of such

extremes in performance. For example, a term deposit is not diversified across a range of cash and fixed interest

investments. It is a concentrated investment in a single asset, being a deposit with a single issuer. Consequently,

making such a concentrated investment gives greater exposure to the underperformance or failure of that single

asset or issuer. You should also consider the concentration risk of being exposed to deposit takers as well as

holding shares and other investment products issued by that entity. Concentration risk can also arise from holding

a range of investment products (even though these may have diverse features) where they are issued by the same

particular legal entity or group.

Fund (managed

investment)

This is the risk that a fund could terminate, the fees and expenses could change, or key investment manager

staff could change. There is also the risk that investing in a fund may give less favourable results than investing

directly in the assets in which a fund invests because of the income and capital gains accrued in the fund and the

consequences of investment and withdrawal by other investors.

Currency Currency risk is the risk that fluctuations in exchange rates between the Australian dollar and foreign currencies may

cause the value of Eligible Investments to decline significantly. Product issuers may choose to mitigate the impact

of currency movement by ‘hedging’ all or part of the investment’s exposure to foreign currencies; however, there is

no guarantee this will occur.

Derivative Product issuers may use leveraged instruments, such as exchange traded futures contracts, to obtain or reduce

market exposure. Derivatives, such as futures and options are leveraged instruments whose value is derived from

actual underlying assets. These instruments are used to obtain or reduce market exposures. As derivatives can

provide leveraged exposure, gains or losses can be greater than the gains or losses on unleveraged positions.

Geared

investment

options

Product issuers may borrow money to increase the total amount invested, which increases the volatility of

investment returns. This is known as gearing.

Gearing an investment option could increase long-term returns. However, if the asset value were to fall, gearing may

result in substantial negative returns, as gearing magnifies both gains and losses. In the event of a significant fall in

the asset value, the value of a geared investment could fall to less than the total value of borrowings, rendering the

investment worthless. This emphasises that gearing is a strategy for high risk investors. An increase in interest rates

may also negatively impact returns. There is also a risk that the product issuer may not be able to refinance its

borrowings at commercially reasonable rates or at all and may be forced to sell assets. Gearing may not be suitable

for all investors. We recommend you discuss the suitability of geared investments with an adviser.

Divergence to Net

Tangible Assets

The risk that a listed investment option may trade at a price that is different to the value of the underlying

investments that the investment option invests in; ie the Net Tangible Assets (NTA). This risk is present in Listed

Investment Companies and Listed Investment Trusts and may affect your ability to redeem shares/units in these

assets at a price that accurately reflects the value of the underlying holdings. These securities may trade at a

premium above or at a discount below the NTA which in turn may also affect the expected risk/return profile.

Note, although this can also occur in Exchange Traded Funds and Exchange Traded Managed Funds, deviation of

the trading price from the underlying portfolio value is expected to be minor for these investments given the use of

market makers and authorised participants.

For details of other risks specific to SMAs, please refer to the current PDS and other disclosure documents for these schemes

available from your adviser or from us.

Understanding your investments

Non-investment risks

As with any service that uses technology, there is some

risk that our administration system’s hardware and software

may fail, causing a delay in the processing and reporting on

your account. We have sought to address this risk and the

risks associated with other unforeseen circumstances in our

business resilience plans and risk management framework.

This includes processes to back up our computer systems

and regular reviews of our systems and control procedures

including an external, independent audit on an annual basis.

Even so, we do not accept responsibility where such failures

are outside of our control.

There is also risk associated with our reliance on information

provided by product issuers and other external service

providers. We address this risk by having service agreements

in place with third parties. If they notify us of any errors, we

will correct the errors promptly after we are notified and to the

extent that correcting the error is reasonably within our control.

If the changes are material, they will be communicated to you

and/or your adviser.

The Custody Service

The operation of the custody service provided to you is set

out in the Custody Deed and is described in this Guide. Bond

Street Custodians Limited (BSCL) is our agent for the purpose

of providing the custody service to you. All investments

in Investment Manager II must be transacted through the

custody service. BSCL has all rights to disclosure in relation

to the assets. However, you have the right to elect to receive

copies of all communications sent to holders of accessible

investments. We will provide these communications to you as

soon as practicable, upon request. The obligations on us and

BSCL in providing the custody service to you are set out in

the Custody Deed, which is available online or a copy of which

can be provided to you on request free of charge.

Operator

MIML is the Operator of the IDPS. Our obligations as operator

include (but are not limited to):

• choosing the investment options available to investors

• overseeing that the service operates in accordance with its

Custody Deed, and

• reporting regularly to you.

How is investing through Investment Manager II

different to investing directly?

Your rights

It is important to recognise that acquiring interests in

underlying investments through Investment Manager II are

not identical to holding these investments in your own right.

Please note the following differences:

• the custodian, BSCL or its delegate, will be the legal owner

of the assets rather than you

• you do not become the direct unit or interest holder in the

managed investments you have selected for your account.

The registered unit holder will be BSCL as our agent for

you. As such, BSCL may exercise the rights of a unit holder

or member or decline to exercise them in accordance with

the arrangements specified in the Custody Deed

• cooling-off rights will not apply. These rights are usually

available to direct retail investors under s1019B of the

Corporations Act. These rights generally allow you to return

your investment within a period of 14 days of acquiring the

investment and receive a refund

• certain rights and obligations available to, or owing by,

the legal owner of an asset are exercisable by us as the

Operator, rather than by you. For example, there may be

differences in relation to:

• withdrawal rights (see below under Withdrawal rights for

further information)

• transaction processing and unit pricing may differ

• when you make an initial or additional investment in an

underlying investment, there is a risk that you may not

have considered the most recent PDS and other disclosure

documents for the underlying investment, or that you may

not have been made aware of recent material changes or

significant events affecting that investment

• you can access managed investments, generally with

wholesale fees, which can be significantly cheaper than the

retail fees you would pay if you invested in each managed

investment directly

• you will not receive correspondence (such as statements)

from the Eligible Investments

• as BSCL holds your assets in custody, you are not the

registered holder, and are unable to participate in regular

or ad hoc meetings (such as annual general meetings for

listed companies) nor do you have any voting rights (refer to

the Voting policy section for further information)

• for term deposits, your investment will be pooled with the

funds of other investors who wish to invest for the same

term as you. As a result, some of the features and functions

that may be described in the term deposit offer documents

may not be available to you

• for exchange traded securities in your account, BSCL will:

• instruct Clearing House Electronic Subregister System

(CHESS) to settle your transactions in line with market

practice, and

• control your holdings on CHESS in line with the business

rules of the relevant exchange

• instructions to brokers are made on behalf of the custodian

and not in your own right

• international listed securities in your account will be held

in custody for you by the custodian or its delegate(s), who

will settle your transactions in line with market practice. You

will be required to meet the minimum parcel and trading

requirements of the international listed security/exchange

• domestic fixed income securities in your account will be held

in custody for you by the custodian or its delegate(s), who

will settle your transactions in line with market practice. You

will be required to meet the minimum parcel and trading

requirements of the issuer or approved fixed income broker

• you will not receive notices or correspondence from share

registries regarding your listed securities holdings (such as

corporate action notifications)

• where a corporate action occurs and results in a

compulsory acquisition, you will not have the right to object.

About the service and custodian

The Operator, custodian and Investment Manager II are regulated by the

Australian Securities and Investments Commission (ASIC) under the Corporations

Act 2001 (Cth).

About the service and custodian

Client monies

MIML and BSCL operate pooled bank accounts that are held

in trust (Trust Accounts) to receive and make payments in

relation to your account. The Trust Accounts are operated

in accordance with the Client Money Rules as set out in the

Corporations Act. The monies paid into the Trust Accounts

in connection with your account are not used to meet any

obligations other that those incurred in respect of your account.

The Trust Accounts operate in the following way:

• each Trust account is a bank account held with an

Australian deposit-taking institution (including MBL) or an

approved foreign bank

• payments out of a Trust Account will only be made in the

following circumstances:

• making payment to your Wrap Cash Account or

toanother Trust account

• making payments to settle transactions instructed

by you or your nominated adviser or in accordance

with any other directions received from you or your

nominatedadviser

• paying MIML or BSCL any monies that you owe them

• paying brokerage and other proper charges, and

• making a payment that is otherwise authorised by law

• any interest earned on funds paid into in a Trust Account is

retained by MIML or BSCL, as the case may be, and not

returned to individual clients.

Withdrawal rights

As BSCL is the registered holder of accessible investments, it

is the direct investor and holds all relevant withdrawal rights.

These withdrawal rights may differ from investing directly due

to BSCL’s wholesale client status and depending on whether

BSCL was provided with a PDS or other disclosure document

for the purposes of investing on your behalf.

Please note that withdrawal rights for an accessible investment

may not be available if the relevant PDS or disclosure

document becomes defective before issue of the investment.

Because BSCL will be the registered owner (and you are

investing indirectly), the product issuer would not be required

to return the investment to you or provide you with other

options such as notification of an option to withdraw under

s724 (for disclosure documents) or s1016E (for PDSs) of the

Corporations Act.

Withdrawal rights may also be affected where redemptions

are offered on a scaled-back basis, for example, where the

investment is ‘illiquid’. As your investments may be pooled

with other investors, the amount you could be entitled to may

be distributed pro-rata with the other investors resulting in an

amount less than would be the case if the investment was

held individually.

Voting policy

Where BSCL receives notice of meetings or resolutions that

relate to Eligible Investments, we do not proactively make this

information available to you or your adviser.

We maintain a voting policy under which we do not offer voting

rights, however there are limited circumstances when we may:

• allow client instructions to be made via proxy in writing, and/or

• actively solicit your voting instruction.

These circumstances include:

• fulfilling our obligations under applicable law

• where the investors are ‘key management personnel’ as

defined by the Corporations Act

• investors who hold a material interest in the investment that

could reasonably be expected to impact the outcome of

aresolution.

Where such matters are brought to our attention:

• we will endeavour to provide you with the material that

would have been sent to you if you were a direct investor

• we will not permit you to act as a corporate representative

on behalf of BSCL – instead we will accept your written

voting instructions so that BSCL can endeavour to lodge

these via proxy

• we may require confirmation in writing from the relevant

company secretary or other representative to confirm your

eligibility to participate in some or all of the resolutions.

Where this confirmation is sought, we will not pass on your

instructions until this has been provided

• we do not accept any responsibility for acting on your

instructions (including where such an instruction may

contravene the law or any regulation)

• any instruction to vote must be received at least three

Business Days prior to the registry cut-off time

A standing instruction for future resolutions cannot be provided –

we must receive direction for each voting opportunity as it arises.

BSCL, as custodian for the service, generally does not vote on

company or scheme resolutions and other corporate actions.

A copy of our voting policy is available free of charge onrequest.

Related party arrangements

Custodian and Authorised Broker

We have appointed BSCL to hold your investments in custody.

BSCL also liaises with the product issuers of your investment

options. BSCL, MIML and MBL are Macquarie Group entities.

Your adviser can effect Australian listed security transactions

through the Authorised Broker, which may be a Macquarie

Group entity.

Related party issues

The Macquarie Group is a global provider of banking, financial

advisory, investment and funds management services.

Except in relation to the interest rate paid by MBL on the Wrap

Cash Account (see the Your Wrap Cash Account section

under How does Investment Manager II work? in this Guide),

the arrangements between Macquarie Group entities are on

arm’s length terms. We will monitor and review counterparty

arrangements with related parties to ensure they are carried

out efficiently and properly.

About the service and custodian

The Macquarie Group acts on behalf of institutional, corporate

and retail clients and counterparties around the world. MIML,

as the Operator of the IDPS, generally has no control over

these activities. As a result, from time to time, underlying

investments offered through the IDPS may be restricted,

for example due to regulatory constraints applicable to the

Macquarie Group, and/or its internal policies designed to

comply with such constraints.

In certain circumstances, statutory or internal Macquarie

Group imposed restrictions may preclude the acquisition or

disposal of securities through the IDPS.

When we act on your investment instructions, we may deal

with other Macquarie Group companies. These companies

may receive benefits and may also be dealing as principal or

dealing on behalf of other accounts which are under the group

management of the Macquarie Group. Where we invest in

accordance with your instructions, we must deal with the other

party to the investment transaction at arm’s length terms.

Managing conflicts of interest

As Macquarie is a financial institution that participates in

both the domestic and international markets, both real and

perceived conflicts of interest may arise when adding to or

removing from the Investment Menu. For example, MIML acts

as the responsible entity for a number of Eligible Investments

on our Investment Menu.

Macquarie has systems and protocols in place to identify conflicts

of interest and a framework, including policies, for managing

conflicts. Any potential conflicts that may arise in the investment

selection process for Eligible Investments on the Investment

Menu or as a result of related party transactions are handled in

accordance with this conflicts management framework.

Information from underlying investments

BSCL holds the investments in your account and receives all

communication from the issuers of the investments in your

account. You can request a copy of these communications

and, where possible, we will provide them to you directly

or your adviser directly or through our website, as soon

aspracticable.

Keeping you informed

You may request an up-to-date copy of the IDPS Guide for

Investment Manager II at any time from your adviser or us free

of charge. Where applicable, you should read the relevant PDS

and other disclosure documents prior to investing.

As PDSs and disclosure documents may be updated or

replaced from time to time, your adviser should provide you

with the most recent PDS or other disclosure documents

for each investment you are considering. The PDS or other

disclosure documents for each investment are prepared by the

relevant product issuer. These documents contain information

about the product issuer and the management and

administration of the investment. The most recent versions

of these documents are available online or from your adviser.

Information that is not materially adverse is subject to change

from time to time and may be updated through the website

macquarie.com.au/wrapofferdocs. A paper copy of any

updated information is available free of charge upon request.

If an event occurs about which we have not yet informed

you, but which we believe is an important consideration

when making additional investments or switches within your

account, we may be unable to immediately comply with any

investment instructions we receive from you. In this event, we

will forward you the relevant information and will only execute

your instructions when we believe you have received all the

necessary information.

Complaints

Macquarie has policies in place to help properly consider and

manage any complaints within 45 days of their receipt.

If your complaint is about:

• the financial advice you received or your investment

selection/strategy, we recommend you discuss this

complaint with your adviser or refer to the complaints

section of your adviser’s financial services guide

• the investments in your account, you will be able to raise

your complaint directly with the issuer of that investment.

Macquarie can assist you with this, or

• the Investment Manager II Service itself, you may wish to

contact our Complaints Manager by phone, or in writing to

The Complaints Manager

Macquarie Wrap

GPO Box 4045

Sydney NSW 2001

Telephone: 1800 899 485

Email: complaints@macquarie.com

If you are not satisfied with our handling of a matter, you

can request your complaint to be reviewed free of charge by

contacting either the Macquarie Customer Advocate or the

Australian Financial Complaints Authority (AFCA) an external

dispute resolution scheme, of which Macquarie is a member.

The Customer Advocate’s role is to review the reasonableness

and fairness of the outcome of your complaint.

You may contact our Customer Advocate as follows:

The Customer Advocate

Macquarie Bank Limited

GPO Box 4294

Sydney NSW 1164

Telephone: 1800 898 307

Email: customeradvocate@macquarie.com

If you are not satisfied with our response after 45 days, you

can lodge a complaint with AFCA. AFCA provides independent

financial services complaint resolution.

You can contact AFCA as follows, quoting membership

number 10635:

Australian Financial Complaints Authority

GPO Box 3

Melbourne VIC 3001

Telephone: 1800 931 678 (free call)

Email: info@afca.org.au

Website: www.afca.org.au

Fees and other 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. You may be able to negotiate to pay lower contribution fees and management

costs where applicable. Ask MIML 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 funds fee calculator to help you

check out different fee options.

Contribution fees are not applicable to this product. You cannot negotiate to pay lower management costs. However, the fees and costs

payable to your adviser can be negotiated with them. Refer to the Additional explanation of fees and costs section for further information on

these fees and costs.

This document shows fees and other costs that you may be charged. These

fees and costs may be deducted from your money, from the returns on your

investment or from the assets of Investment Manager II as a whole. Taxes are set

out in another part of this document.

You should read all the information about fees and costs because it is important to understand their impact on your investment.

The fees and other costs for each investment option made available through Investment Manager II are set out in the relevant PDS

and other disclosure documents for each investment option.

Macquarie Investment Manager II

Type of fee or cost Amount How and when paid

Fees when your money moves in or out of the product

Establishment fee

The fee to open your

investment

Nil Not applicable

Contribution fee

The fee on each amount

contributed to your

investment

Nil Not applicable

Withdrawal fee

The fee on each amount

you take out of your

investment

Nil Not applicable

Exit fee

The fee to close your

investment

Nil Not applicable

Fees and other costs

Macquarie Investment Manager II

Type of fee or cost Amount

How and when paid

Management costs

The fees and costs for managing your investment. The amount you pay for specific investment options is set out in the PDS and

other disclosure documents for the relevant investment option.

Administration fee

payable to us for

managing your investment.

Each investment holding balance Administration fee

On the first $50,000 0.49% pa

Amounts above $50,000 0.10% pa

A minimum administration fee (across your total account)

of $33 per month applies.

The administration fee is calculated monthly

on the daily closing balance of your account,

excluding the Wrap Cash Account and other

personal assets.

This fee is applied to the value of each managed

investment, SMA, Australian and international listed

security, domestic fixed income security, term

deposit, or other eligible assets in your account.

The administration fees are paid by a deduction

from your holding in the Wrap Cash Account,

generally in the first week of the month after the

fees accrue or upon closure of your account.

Refer to the Wrap Cash Account Product

Information Statement for information on other

fees payable on your Wrap Cash Account.

Administration fee

payable to us for

international listed

securities and domestic

fixed income securities.

An additional fee you pay

for holding international

listed securities and

domestic fixed income

securities in your account.

A $25 per month administration fee will apply if you

choose to invest in either international listed securities

and/or domestic fixed income securities.

Calculated on the last day of the month if an

account holds either international listed securities

or domestic fixed income securities. The

administration fee is charged from the Wrap

Cash Account monthly in arrears.

Sub-custody fees for international listed securities

and domestic fixed income securities. An additional fee

you pay for holding international listed securities and

domestic fixed income securities in your account.

International listed securities:

Account balance Fee

On the first $500,000 0.25% pa

Over $500,000 to $1,000,000 0.10% pa

Amounts above $1,000,000 0.05% pa

Domestic fixed income securities:

0.05% pa of the value of any domestic fixed income

securities within your account.

Calculated monthly, based on the daily closing

value of your account’s international listed

securities and domestic fixed income securities.

The sub-custody fee will be charged from your

Wrap Cash Account generally in the first week of

the month after the fees accrue or upon closure

of your account.

Investment costs

payable to the product

issuers of the managed

investments (including

SMAs)

The investment costs range from 0.00% to 6.82% pa

of the asset value of the managed investment or SMA.

This equates to $0.00 to $68.20 per $1,000 invested.

These investment costs are not charged by

the Operator of Investment Manager II. They

are indirect costs payable to the product issuer

of each managed investment and SMA. The

amounts shown here are estimates of the fees

that will be charged by the product issuers of the

managed investments available and are generally

reflected in the unit price of each managed

investment.

Refer to the relevant PDS and

other disclosure documents for each managed

investment and SMA for details on how and when

these fees are charged.

The administration fee rates applying to the account tiers and any fees in dollar amounts may be increased each year to the Consumer Price Index

(CPI), taking into account the movements in the CPI since the service inception date, 23 November 2019, or the last recalculation. Any increase will not

be greater than the percentage change in the CPI since the service inception date of 23 November 2019 or the last recalculation. The administration

costs of each level apply to the portion of the account in the respective tier.

These amounts show the lowest and highest investment costs across the entire Investment Menu and may not be applicable to you. Where

applicable, performance related fees have been included in the range shown. They are estimates only and are based on information provided by

the product issuers for a previous financial year. They are subject to change at any time at the discretion of the product issuer.

In the case of SMAs a portion of this fee is a direct fee deducted from the cash holding within the SMA.

Fees and other costs

Macquarie Investment Manager II

Type of fee or cost Amount

How and when paid

Service fees

Switching fee

The fees for changing investment options.

Payable to us for

transactions on any

Eligible Investment

andparticipating in

corporate actions.

Nil Not applicable

Payable to us on non-

automated transactions

on international listed

securities, domestic fixed

income securities and

participating in international

corporate actions.

$50.00 Payable per transaction. Calculated at the time

of each transaction based upon the number of

transactions and debited from your Wrap Cash

Account, generally in the first week of the month

after the fees were accrued or upon closure of

your account.

The administration fee rates applying to the account tiers and any fees in dollar amounts may be increased each year to the Consumer Price

Index (CPI), taking into account the movements in the CPI since the service inception date, 23 November 2019, or the last recalculation.

Any increase will not be greater than the percentage change in the CPI since the service inception date of 23 November 2019 or the last

recalculation. The administration costs of each level apply to the portion of the account in the respective tier.

See Additional explanation of fees and costs for information on adviser fees and special request fees.

Fees and other costs

A “balanced investment option” is defined as an investment option in which the ratio of investment in growth assets, such as shares or property,

to investment in defensive assets, such as cash or bonds, is as close as practicable to 70:30.

Vanguard is a trademark of The Vanguard Group Inc.

Management costs include Goods and Services Tax GST (after any adjustment for a Reduced Input Tax Credit (RITC)) and, in this example, are

the sum of the administration fee (0.49% for the first $50,000 per investment holding) and the Vanguard Growth Index Fund investment cost

(0.29%pa) based on the value.

Excludes net estimated transactional and operational costs of 0.04% pa.

The administration fee is calculated monthly on the daily closing balance of your account, excluding the Wrap Cash Account and other

personal assets. The rate shown here applies up to a balance of $50,000 per investment holding, over which the rate reduces. Based upon the

prescribed balance of $50,000, the minimum administration fee of $33 per month ($396 per annum) would apply. For more information on the

administration fees, please refer to the Fees and other costs table.

Except where noted, fees will be debited from your Wrap Cash Account, generally in the first week of the month after the fees were accrued or

upon closure of your account.

Incidental fees

You may incur incidental fees resulting from certain requests or transactions on your account. These fees, inclusive of the net effect

of GST, are outlined below and are payable to MIML. Incidental fees also apply to your Wrap Cash Account. Please refer to the

Macquarie Wrap Cash Account Product Information Statement for further details.

Incidental fees Amount

Failed trade fee: If you have insufficient available cash in your Wrap Cash Account to

pay for a purchase or if you instruct us to sell assets that are not held in your account.

$36.00 per day until settlement or cancellation

(the relevant exchange may also charge a fee).

Other services: Additional fees may be charged for any other services we perform on

your account.

$100 per hour. For example, where investments

require cost base information to be adjusted, we

will charge to make these changes.

In-specie transfer out fee: Generally there is no fee payable on closing your

investment. However, if you request an in-specie transfer of assets out of your

account, then an asset transfer fee will apply.

$20 per asset transferred out (applies to

all investments that are permitted to be

transferred out).

Example of annual fees and costs

Example of annual fees and costs for a balanced investment option or other investment option

This table gives an example of how the fees and costs in the Vanguard Growth Index Fund

investment option for this product

can affect your investment over a 1 year period. You should use this table to compare this product with other products offered

by managed investment schemes.

Example – Vanguard

Growth Index Fund

Balance of $50,000 with a contribution

of$5,000 during the year

Contribution fee Nil For every additional $5,000 you put in, you

will be charged $0.

PLUS Management

costs

$396 + 0.29% pa

(Administration fee the higher of 0.49% pa or $396

peryear deducted monthly directly from your

WrapCash Account + investment costs of 0.29% pa

deducted indirectly)

And, for every $50,000 you have in the

Vanguard Growth Index Fund, you will be

charged $541 each year (which is made up

of the investment cost of $145 plus either

the tiered administration fee of 0.49% or the

minimum administration fee of $396 per year

–whichever is higher, in this case $396).

EQUALS Cost of

Vanguard Growth Index

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 fees of $541.

What it costs you will depend on the

investment you choose and the fees

younegotiate.

Additional fees may apply and if you leave the Vanguard Growth Index Fund, you may also be charged exit fees of $0, and a

buy/sell spread. The buy/sell spread for the Vanguard Growth Index Fund is estimated to be 0.09% ($45.00 for every $50,000

you withdraw).

To understand all the fees and costs payable, including those which apply to the Eligible Investments that you hold, you

should look at both this Guide and the PDS and other disclosure documents for the relevant Eligible Investments.

Additional explanation of fees and costs

General information about fees and costs

The total fees and charges you pay will include the costs of

this service as well as the cost of any Eligible Investments

you choose. It is important that you understand the fees and

costs of any Eligible Investment you choose, and that those

fees and costs are in addition to the fees charged by us

for the service, together with transaction and account costs

incurred on your behalf. The costs of the Eligible Investments

you choose will generally be set out in the PDS and other

disclosure documents for the Eligible Investments you select.

Except where noted, fees will be debited from the Wrap Cash

Account, generally in the first week of the month after the

fees were accrued or upon the closure of your account. If you

have insufficient available cash in your Wrap Cash Account,

we reserve the right to sell down your holdings to top up the

Wrap Cash Account to the required minimum and deduct

outstanding fees. For further information, please refer to the

Transacting section.

Increases or alterations in the fees and costs

We reserve the right to increase the fees and costs outlined in

this Guide, and to charge for other miscellaneous services. We

will give you notice, as required by law, if any fees or charges

increase or if any new fees or charges are introduced.

Further details about fees

Fees applicable during a month

Fees commence accruing on your account following your

first investment or the successful receipt of any assets you’ve

transferred into your account via in-specie transfer.

The monthly fee (including the minimum administration fee) will

apply irrespective of the size of your initial deposit, even if it is

below the minimum balance.

The fees set up on your account as at the end of a given

month (or on or before the day when your account is closed)

will be the fees applicable for that month (or part thereof if the

account is opened or closed within that month). For example,

if you change a fee amount mid-month, the fee collected for

that month will be based on the new fee.

Where we receive notice that the adviser on your account has

changed during the month, the new adviser will receive all fees

applicable for that month, based on the fees applicable at the

end of the month.

Changes in valuations

In some instances, the value of your account on a date in the

past may be updated. Examples of when this may occur are

where a product issuer corrects a unit price error or where an

incorrect price was provided to us and we correct the error.

In these circumstances there will be no recalculation of any

fees already charged to your account.

Changing or removing your adviser

In some instances, your adviser’s dealer may negotiate an

arrangement whereby a rebate of the standard administration

fees shown in the Fees and other costs table is applied. In

such cases, we will pass on this rebate to you in the form of a

reduced administration fee.

If you choose to change your adviser who is linked to your

account or your adviser chooses to change their dealer, this

may result in a change to this rebate. This could lead to an

increase or decrease in the net administration fees paid,

depending on the rebates applicable to you under each adviser

and/or dealer.

Where you remove the adviser and/or dealer on your account,

this may result in the removal of an applicable rebate, which

could lead to an increase in the net administration fees paid to

the standard rates disclosed in the Fees and other costs table.

You may wish to consider the impact this may have on your

account when making any adviser and/or dealer changes.

Broker handling fees

Some corporate actions pay handling fees. In those events, the

Authorised Broker is appointed as your broker for the purpose

of handling the action, and may retain any applicable handling

fees. The Authorised Broker may pay those fees onto your

broker or adviser where entitled and claimed within specified

timeframes. These fees are not an additional cost to you.

The fees shown in the Fees and other costs section and this Additional explanation

of fees and costs section are inclusive of the net effect of Goods and Services Tax

(GST) unless expressly stated otherwise. We may be able to claim a reduced input

tax credit (RITC) of up to 75 per cent of the GST paid on some of these fees. This

may include fees for certain brokerage services, investment portfolio management,

administrative functions and custodial services. We may also be able to claim an

RITC of 55 per cent of the GST paid on some of the other fees charged. Where

we are able to claim an RITC, we will pass the benefit of this on to you.

Additional explanation of fees and costs

About adviser fees

You can negotiate with your adviser the fees that will be payable for the advice services to be provided to you. You must specify

the agreed fee amounts in the application form or subsequent written communications to us. If no amounts are specified, these

fees will be nil.

By completing and submitting the application form or signing other communications to us from your adviser, you authorise us

to debit your Wrap Cash Account with the amounts described. Either MIML or BSCL will hold these amounts in a pooled bank

account that is held in trust until we pay the agreed fees to your adviser. Any interest earned on the amounts held in the trust

account will be retained by MIML or BSCL, as the case may be.

There are no maximum adviser fees, however, we are able to reject the amount of adviser fees if we believe they are unreasonable.

The types of advice fee for personal advice that may be agreed with your adviser are set out in the table below.

Type of fee Amount How and when paid

Initial advice fee You and your adviser may

negotiate the amount of the initial

advice fee (if any) that your adviser

will be paid.

This is a one-off dollar-based fee payable to your adviser, debited from the

Wrap Cash Account, generally in the first week of the month after the fees

were accrued or upon closure of your account.

Transaction fees

payable to your

adviser

You and your adviser may

negotiate the amount of the adviser

transaction fee (if any) that your

adviser will be paid.

This fee is payable to your adviser and calculated at the time of each

buy transaction based upon the number of buy transactions and/or the

value of each buy transaction and debited from the Wrap Cash Account,

generally in the first week of the month after the fees were accrued or

upon closure of your account.

Brokerage costs

payable to your

nominated broker

If you have agreed for brokerage

to be paid, it will be paid to your

nominated broker when buying and

selling Australian listed securities.

Brokerage is calculated by your nominated broker and payable at the time

of each transaction. Brokerage will be added to the cost or deducted from

the proceeds of each transaction.

Other adviser fees

payable to your

adviser

Adviser fees

are negotiated

between you and your adviser and

can be made up of the following:

• adviser service fee, and

• adviser ad hoc service fee.

Adviser service fee: a percentage and/or dollar-based ongoing monthly

fee. If percentage-based, it will be calculated on the daily closing balance

of your account.

Adviser ad hoc service fee: a one-off, dollar-based fee. Calculated and

charged as per the agreement with your adviser.

Adviser service and adviser ad hoc services fees are debited from the

Wrap Cash Account, generally in the first week of the month after the fees

were accrued or upon closure of your account.

Adviser service fees

Depending on what is agreed with your adviser, the adviser

service fee may be structured in one of the following ways:

1. tiered structure, specifying a percentage to apply at

different account values

2. flat percentage structure, specifying a percentage to apply

to the total value of your account

3. flat dollar structure, specifying a flat (fixed) dollar amount,or

4. flat dollar structure together with either a tiered structure

or a flat percentage structure.

If percentage-based, the relevant fee will be calculated on

the daily closing balance of your account excluding the Wrap

Cash Account unless you and your adviser negotiate if the fee

applies on the balance of your Wrap Cash Account.

Fee indexation

You and your adviser may also agree to set increases to your

ongoing adviser service fees, with the increase taking effect

each year at the 12 month anniversary of the instruction being

received, by either:

• a flat percentage, or

• the CPI.

Where you have agreed with your adviser to index your

ongoing adviser service fees to the CPI, this will be calculated

by annualising the CPI All Groups Eight Capital Cities index

between 1 April and 31 March each July. The use of this CPI

measure is current as at the time this document is issued, but

may be subject to change where the CPI measure significantly

differs from historical levels.

Initial advice fee

This may only be structured as a one-off dollar based fee.

Adviser ad hoc service fee

This fee may only be structured as a one-off dollar based fee.

Adviser transaction fee

You can agree to a specific adviser transaction fee with your

adviser for non-automated transactions. Adviser transaction

fees for non-automated transactions can be structured

as either a fixed dollar amount per buy transaction or as

a percentage of the value of buy transactions made by

your adviser. Adviser transaction fees are not available for

automated transactions (dollar cost averaging, automatic

rebalancing and autocash management).

We may be able to claim an RITC of up to 75 per cent of the GST paid on some of these fees. Where we are able to claim an RITC, we will

pass the benefit of this on to you.

Additional explanation of fees and costs

Fees when your adviser changes

Your adviser service fee arrangements may change or cease

where, for example:

• you change your adviser to a new adviser who is licensed

to/under a different dealer group

• your adviser’s dealer changes

• you cease to have an adviser, or

• you do not renew an ongoing fee arrangement with your

adviser or adviser’s dealer.

Where such an event occurs, it is important that you inform

us of the event and any changes to the fee arrangement with

your adviser. Otherwise, we may stop paying the adviser

service fees under the existing fee arrangement. Where we are

not informed that the adviser arrangement has ceased, the

adviser service fees may continue to be paid.

Any fees accrued for a month will be paid to the adviser who

is linked to the account at the end of the month.

In some circumstances, we may be informed of a change of

adviser and/or dealer group through your existing adviser’s

dealer group. Where this occurs, existing adviser service

fee arrangements may be maintained if you continue to be

provided advice services.

Changing or removing the adviser and/or dealer may change

the administration fees payable by you. Refer to Changing or

removing your adviser for more details.

Adviser service fees upon death

In the event of your death, existing adviser service fees will

cease to be charged (excluding joint accounts where adviser

service fees will continue until we receive a new fee instruction

from the surviving party).

If adviser service fees are to be charged on the account, the

executors or administrators of your estate will be required to

enter into a new fee arrangement with an adviser and provide

the relevant fee instructions to us.

Managed Investment fees

As part of or in addition to the investment fees payable to

product issuers outlined in the PDS and other disclosure

documents, product issuers of managed investments may

charge the following fees.

Performance related fees

Investment costs payable to the product issuers (set out in

the table of Fees and other costs) include an estimate of

performance related fees payable for the relevant managed

investments. You may incur performance related fees as a

consequence of investing in the various managed investments.

These fees are generally included in the unit price and/or

distributions and are not debited directly from your account.

The current performance related fees (and the method of

charging them) that apply to each managed investment

should be set out in the relevant PDS and other disclosure

documents available online or from your adviser. Performance

related fees will change from time to time in accordance with

the rules specified by the individual product issuers.

Buy/sell spreads

You may incur buy/sell spreads as a consequence of buying and

selling managed investments. Buy/sell spreads are an allowance

for transaction expenses, such as brokerage, so that individual

investors in managed investments more equitably share the costs

associated with buying and selling the underlying investments.

Buy/sell spreads apply at the time of each transaction and are

charged by the individual product issuers in one of two ways:

• by reducing the particular managed investment’s

performance (unit price), or

• by adjusting the application and/or withdrawal price.

The current buy/sell spreads (and the method of charging

them) that apply to each managed investment must be set

out in the PDS and other disclosure documents issued by

each product issuer. Generally, these amounts can vary from

0.00 per cent to 2.50 per cent (for example, between $0

and $25.00 per $1,000). These are estimates only, based on

information provided by the product issuers of the available

managed investments.

Buy/sell spreads may change from time to time in accordance

with the rules specified by the individual product issuers. Buy/sell

spreads are charged directly by the product issuer, no portion

is retained by us. Buy/sell spreads are additional costs that you

incur only if you transact in managed investments.

Managed investment transactional and

operationalcosts

You may incur transactional and operational costs for the

managed investments that you hold. These are indirect fees

and costs payable to the product issuer of each managed

investment which are generally reflected in the unit price of

each managed investment. Refer to the relevant PDS and

other disclosure documents for each managed investment and

SMA for details on the applicable transactional and operational

costs and how and when these costs are incurred.

Goods and Services Tax (GST)

GST will apply to the fees and expenses charged by MIML. It

will also apply to the fees charged by your adviser and the fees

and expenses charged by product issuers of the investments

which you select. We may be able to claim a Reduced Input

Tax Credit (RITC) of up to 75 per cent of the GST paid on

some of these fees. This may include fees for certain brokerage

services, investment account management, administrative

functions and custodial services. We may also be able to claim

a RITC of 55 per cent of the GST paid on some of the other

fees charged. Where we are able to claim a RITC, we will

pass the benefit of this on to you. However, from time to time,

changes to the nature of those fees may mean that we are no

longer able to claim RITCs in respect of certain costs. If that

happens, we will need to pass on the full GST amount to you.

The fees shown in the Fees and other costs section and the

Additional explanation of fees and costs section in this Guide

are inclusive of the net effect of GST unless expressly stated

otherwise. Fees charged by others take into account any RITC

that MIML is therefore able to claim. When MIML has claimed

a portion of the GST as a credit, you will not be entitled to

claim any GST credits in relation to that acquisition. You

should read all of the information about fees and costs, as it is

important to understand their impact on your account.

Additional explanation of fees and costs

Tax

For a broad outline of the taxes that may apply and

tax consequences of your account, please refer to the

Taxationsection.

Brokerage on listed security transactions

Your Authorised Broker may charge brokerage on the purchase

and sale of Australian and international listed securities.

Brokerage is calculated and payable at the time of each

transaction and will be added to the cost, or deducted from

the proceeds, of the transaction.

When you open your account, the Authorised Broker is

automatically nominated as the online broker authorised to

purchase and sell Australian and approved international listed

securities on your account. This is an online execution-only

service and, with your authority, your adviser places these trades.

Brokerage will apply on all Australian listed security

transactions placed online through the Authorised Broker

at a rate of 0.12 per cent of the amount transacted up to a

maximum brokerage charge of $100. A minimum brokerage

charge of $30 applies to each online transaction. For example,

for a trade of $100,000, the Authorised Broker will receive a

maximum amount of $100. If a trade is partially filled and then

amended, each amendment that is filled will be treated as a

new transaction when calculating brokerage.

Please refer to the Authorised Broker’s Financial Services

Guide, available from your adviser, for more details on

brokerage rates for online trades.

If you trade Australian listed securities through an alternative

approved broker, you and your adviser will negotiate the

brokerage costs directly with your nominated broker. You

should contact these brokers for information on the fees and

costs applicable for their service. Brokerage costs are paid

directly to your nominated broker.

For international listed securities, brokerage will apply at

the rate of 0.15 per cent of the value of the trade, together

with any out-of-pocket expenses (such as local market and

government charges) incurred.

Brokerage on domestic fixed income securities will be set by the

eligible fixed income broker. Brokerage costs are additional costs

that you incur only if you transact in Australian and international

listed securities and domestic fixed income securities. For further

information, please speak to your adviser or contact us.

For brokerage charges on listed security transactions within an

SMA, please refer to the PDS or other disclosure documents

for the SMA available from your adviser or from us.

Payments made to or received from other parties

Where permitted by law, we may receive a product access

payment from product issuers which is typically up to $30,000

but no more than $200,000 per product issuer per annum.

For each investment option on our Investment Menu we may

also receive up to $10,000 per annum. In some instances, if

an investment option requires additional administration by us,

these amounts may be increased to $23,000 per annum.

Some product issuers may pay us rebates where this is permitted

by law. The exact payment is negotiated with each product

issuer. These payments come from each product issuer’s own

resources. Where we receive these payments, they are passed

on in full to you where you have an active account with a holding

in the relevant product at the time the payment is being passed on

to you. The amount we pass on to you will be a pro-rata amount

in proportion to your holdings against all other holdings in the

relevant product at the time of processing the payment to you.

Separate to any fees which you may agree with your adviser

as set out in this Guide, your adviser may receive benefits

provided by us at no extra cost to you. We reserve the right

to decide whether or not we will make these benefits available

if permitted by law and will cease to do so if required by law.

Where applicable, you may negotiate with your adviser to

rebate some benefits.

Where permitted by law, we may also draw on our own resources

to provide benefits such as technical support or training and

education benefits to licensed broking and financial advisory firms.

Please refer to the Wrap Cash Account Product Information

Statement available online macquarie.com.au/wrapofferdocs

for information on any benefits payable by MBL in relation to

your Wrap Cash Account. MBL reserves the right to decide

whether or not it will make these payments and will cease to

make such payments if required by law.

We maintain records in relation to other forms of remuneration

that are provided to advisers and/or financial services licensees,

in accordance with applicable requirements. If you would like to

review these records, please contact your adviser.

General advice

We rely on your adviser to provide you with personal financial

product advice. Any general advice we provide in this

document is free of charge.

Additional example of annual fees and costs

The following example of ongoing charges (including the

average of the investment costs charged by the product

issuers within each asset class shown as at the date this

Guide was issued) is provided as a guide for investing through

Investment Manager II. It does not necessarily reflect the actual

cost of investing through Investment Manager II and should not

be taken as a guarantee of future charges.

The Wrap Cash Account does not include any significant

administration costs. The Wrap Cash Account interest rate is

net of fees and costs.

In general, the fees charged on your account will be

influencedby:

• the investment costs of the managed investment(s) you

invest in (if applicable)

• the size of your investment holdings,

• the number of transactions on your account, and

• the size of your total account.

The fee examples outlined are calculated by adding the

average of the investment costs charged by the product

issuers within each asset class shown as at the date this Guide

was issued to the administration fees which we charge (based

on the stated assumptions).

Please note: The adviser fee example below is for

illustration purposes only. Actual adviser fees will be

agreed by you and your adviser and will be stated on your

application form or other written communication to us.

Additional explanation of fees and costs

Example: $300,000 account

The following example uses an account invested for 12 months consisting of:

• an average daily balance of $5,000 in the Wrap Cash Account

• a managed investment with an average daily balance of $95,000

• one Australian listed security, one international listed security and one SMA, each with an average daily balance of $50,000

• one term deposit, valued at $50,000

• four non-automated transactions during one full year (with a listed security purchased through the Authorised Broker

), and

• no additional adviser transaction fees.

Initial advice fee

If you agree with your adviser to an initial advice fee of $2,000, the total initial advice fee you will pay upon opening your

account will be as follows:

Initial advice fee $2,000 + 10% GST $2,200

Administration fees and management costs

Administration fee (MIML) Managed investment (eg Vanguard Growth Index Fund) $50,000 x 0.49%

$45,000 x 0.10%

$245.00

$45.00

Australian listed security $50,000 x 0.49% $245.00

SMA $50,000 x 0.49% $245.00

International listed security $50,000 x 0.49% $245.00

Term deposit $50,000 x 0.49% $245.00

International listed security $25 x 12 $300.00

Investment management

costs (product issuers)

Managed investment (eg Vanguard Growth Index Fund) $95,000 x 0.29%

$275.50

Australian listed security $50,000 x 0.00% $0.00

SMA $50,000 x 0.69% $345.00

International listed security $50,000 x 0.00% $0.00

Term deposit $50,000 x 0.00% $0.00

Sub-custody fee for

international listed securities

International listed security $50,000 x 0.25% $125.00

Switching fee (MIML) International listed security $50 x 1 $50.00

Total annual management costs and service fees 0.79% $2,365.50

Adviser service fee

If you agree with your adviser to an annual advice service fee of $1,200 (excluding GST), the total annual adviser service fee

will be as follows:

Adviser service fee $1,200 + 10% GST

$1,320

The example does not include brokerage costs that are payable on listed securities transactions through the Authorised Broker which is

calculated using the value of the trade.

Excludes net estimated transactional and operational costs of 0.04% pa.

Transacting

Your investment instructions

Where you have an adviser linked to your account, your

adviser will carry out your investment instructions on your

behalf online. You will generally provide investment instructions

to your adviser according to the agreement you have with

them. If you cannot contact your adviser (or do not have one

linked to your account), you must give us written and signed

instructions, provided that you have received the relevant PDS

and other disclosure documents for these investments. These

instructions can be sent electronically, subject to the Electronic

instruction service requirements.

Subject to your adviser arrangement, instructions will be

acted on and effected as soon as practicable but there is no

obligation to do so by any particular time, nor any obligation

to enquire whether they are genuine or proper. In certain

circumstances your assets can be realised without obtaining

your instructions, with the proceeds paid to your Wrap Cash

Account, for example, if your managed investment holding has

dropped below the minimum requirement. You are responsible

for any associated fees.

We will act on all instructions from your adviser or directly from

you except in limited circumstances, including if:

• we suspect that you or your adviser are in breach of the

terms of this Guide

• the authenticity of the instruction is in doubt

• your instructions are unclear

• following the instructions is contrary to the law or

relevantpolicy

• you do not have sufficient available cash in your Wrap Cash

Account to carry out the instruction

• either your account and/or your Wrap Cash Account would fall

below the minimum balance if the instructions were carried out

• you do not have sufficient investment holdings for us to

carry out the instruction

• acting on them would be impracticable or would breach

relevant market practice, or

• where your instructions require pre-approval by a margin

lender where you have a margin loan attached to

youraccount.

Your Wrap Cash Account

Your Wrap Cash Account will be used to:

• credit all cash investments and transfers

• fund investment purchases

• receive proceeds from investments that are sold

• receive income from investments, and

• pay any fees, taxes and charges related to your account.

You authorise us to debit your Wrap Cash Account with all

fees and taxes relating to your account and to pay fees and

charges to the person or entity entitled to them (including us

and our associates). We can suspend services to you if they

remain unpaid.

Holding sufficient cash

Before transacting on your account, you must have sufficient

available cash in your Wrap Cash Account. If you sell assets

within your account, the proceeds cannot be used for another

transaction or withdrawal until settlement occurs and the

proceeds are cleared in your Wrap Cash Account. If you

transact on your account with insufficient available cash, the

transaction will be rejected. Where a transaction is rejected for

a listed security, you may be charged a failed trade fee.

If there is insufficient available cash in your Wrap Cash

Account to meet any fees and/or costs, or if the available cash

in your Wrap Cash Account drops below $500, we reserve the

right to sell down your investment holdings to meet the fees

and/or costs and replenish your Wrap Cash Account to the

minimum balance of $1,000.

In these circumstances, money will be drawn from the

following investments, starting with the highest balance,

generally in the following order:

• daily transacting managed investments

• SMAs

• non-daily transacting managed investment(s)

• Australian listed securities

• international listed securities

• term deposits

• other Eligible Investments.

Any transaction instructions and/or automated plans to buy

assets will fail where they will result in your available cash

balance falling below the minimum balance requirement.

If you close your account at a future date and wish to

retain the Wrap Cash Account, you may elect to do so in

your account closure instructions to us and the Wrap Cash

Account will be converted to a CMA (and the applicable CMA

interest rate will apply from this time).

Managed investments and SMAs

Your adviser (on your behalf) should submit instructions

online to buy, sell or switch managed investments (including

SMAs). Product issuers have different rules relating to when

applications and redemptions will be accepted and processed.

Details of these rules and turnaround times can be found in

the PDS and other disclosure documents for each managed

investment and SMA.

If you cannot contact your adviser (or do not have an adviser

linked to your account), you must give us written and signed

instructions, provided that you have received the relevant PDS

and other disclosure documents for these investments.

Managed investments may also seek unit holder approval

for actions. Under some circumstances, we may seek your

approval/rejection of the proposal.

Transacting

Application

An application is the term used to describe the purchase of

units in a managed investment when the investment is being

funded from your Wrap Cash Account.

Payment for your managed investment purchases will be

deducted from your Wrap Cash Account on the day that

we apply for units in the managed investments. We will

process instructions as quickly as possible, depending on the

application process of each product issuer.

The unit price that you receive for managed investments is

determined by the product issuer. Where transaction requests

are placed online by your adviser prior to 12.00 noon Sydney

time on a Business Day, we will generally send instructions

to the product issuer on the same day. Where transaction

requests are placed online by your adviser after 12.00

noon Sydney time, these will generally be sent the following

Business Day. Where you do not have an adviser, we will act

on your instructions as soon as possible following receipt but

can not guarantee we will do so by any particular time.

Where managed investments have minimum investment

requirements, or the product issuer does not calculate a unit

price daily, it may take longer to process your instructions.

Redemption

A redemption is the term used to describe the sale of units

or other interests in a managed investment. Redemption

proceeds are credited to your Wrap Cash Account.

Redemption proceeds from a sale cannot be used to process

a withdrawal from your Wrap Cash Account until settlement

occurs and the money is cleared in your Wrap Cash Account.

Redemptions may also give rise to a CGT event. Please refer

to your adviser for further details.

Switching between managed investments

A switch is the term used to describe the redemption of a

managed investment (or multiple managed investments) and,

instead of the proceeds being directed to your Wrap Cash

Account, the funds are directed straight to another managed

investment (or multiple managed investments).

The minimum amount that can be switched between

managed investments is $100. If we receive an instruction to

switch (or redeem) an amount that will result in less than $250

remaining invested in a particular managed investment, we

may process that instruction as a full redemption from that

managed investment.

Where your adviser places an order for a full redemption from

one managed investment with the proceeds being switched

into more than one managed investment, we will convert the

buy dollar amounts to a percentage of the sale order. Once

the sale proceeds are received, reciprocal buy orders are

created and sent to market.

Switching between managed investments may also give rise to

a CGT event. Please refer to your adviser for further details.

Managed investments that do not transact daily

Some managed investments do not process applications or

redemptions on a daily basis. If you instruct us to apply for or

redeem a non-daily transacting investment or another illiquid

investment, we will process this transaction in accordance

with the product issuer’s timetable. In some cases, this could

be three months or more after we receive your instructions

and extended delays may be experienced. Please refer to the

relevant PDS and other disclosure documents or your adviser

for further information.

Australian listed securities

Your adviser (on your behalf) may buy and sell Australian

listed securities online via the Authorised Broker. We will use

the available cash in your Wrap Cash Account to settle any

purchases of Australian listed securities. We will withdraw cash

to pay for the purchase on the same day, or within one day of

being notified by your broker of the trade.

You may be charged a failed trade fee if you do not have

sufficient available cash in your Wrap Cash Account to

perform a trade and you are not contra trading (refer to the

Contra trading section). Any proceeds from the sale of eligible

Australian listed securities should be available in your account

the next Business Day after settlement.

All online orders placed to buy or sell Australian listed

securities will be conducted on an at ‘market-to-limit’ basis.

Orders can also be placed ‘at-limit’. This enables your buy or

sell orders to be placed at a specific price. An ‘at-limit’ buy

order will only execute at the limit price or lower, while a sell

order will only execute at the limit price or higher. ‘Market-to-

limit’ orders may only be partially filled at the prevailing market

price at the time the order is placed.

If you would like your order to be fully executed at ‘market-

to-limit’ in accordance with available price/volumes, your

adviser will be responsible for amending your initial order. In

the event that the whole, or part, of your order is filled prior to

its amendment or cancellation, you will be liable to settle the

whole or partially filled order.

A single order may consist of more than one transaction. For

example, if an order is partially filled and then amended, each

amendment that is filled is a new transaction.

You and your adviser are unable to trade on a conditional or

deferred settlement basis.

Offline trading is available through a nominated broker from

our list of approved brokers, which is available from your

adviser or us.

If you wish to nominate a broker, the broker must be

nominated on the application form or subsequent notification

to us. If you wish to change or nominate a new broker, you

should contact your adviser.

Trade confirmations are not provided for Australian listed

securities transactions when trading via the Authorised Broker.

Physical settlement of underlying assets

Conversion or settlement into the physical underlying assets

of an investment you hold cannot be administered on the

platform. Such investments include, but are not limited to:

• CHESS Depository Interests

• Exchange Traded Funds

• Exchange Traded Commodities

• Exchange Traded Certificates.

Transacting

Contra trading

Contra trading describes the sale and purchase of Australian

listed securities on the same day. The sale proceeds will be used

to cover the costs of the Australian listed securities purchased

on the same day. Contra trading is only available offline through

an eligible external broker. That is, your adviser (on your behalf)

is unable to do this online. When there are insufficient funds after

offsetting sales and purchases, we will draw the shortfall from

your Wrap Cash Account. Contra trading may also give rise to a

CGT event. Please refer to your adviser for further details.

Corporate actions

We refer to corporate actions as any event that brings material

change to a company and affects its stakeholders such as

shareholders. Typically, corporate actions relate to shares in

companies and interests in some managed investments. These

may affect the capital structure of the security, or the number

or type of securities held on your behalf. These types of actions

can be mandatory, such as share reconstructions, or voluntary,

such as entitlement offers and share purchase plans.

We will generally seek instructions from you on your preferred

course of action for a corporate action. We may refuse to act

on your instructions if to do so would result in the acquisition of

an asset not on the Investment Menu or where inconsistent with

our other duties under the law (for example, if the governing

documents of the service or the general law forbids it).

Where it is available, we will endeavour to provide relevant

information to your adviser about corporate actions impacting

your account through the corporate actions calendar, viewable

by your adviser online. Your adviser must use the corporate

actions calendar to check for any corporate action information

that may be relevant to your account or require your action.

When a corporate action occurs and we ask you for

instructions, we must be given those instructions at least three

Business Days prior to the published closing date of the action

(the cut-off date), unless we specify otherwise. For the issuance

of new securities, we must generally be given instructions eight

Business Days prior to the published close date.

The online instruction is final and no changes are able to be

made to this instruction. By submitting the online instruction you

and your financial adviser confirm you have read and understood

all documents issued in relation to the corporate action.

If a corporate action requires payment, you must ensure your

Wrap Cash Account has sufficient funds to complete the

transaction. If you do not have sufficient cleared funds available

in the Wrap Cash Account at the time your instructions are

received by us and retain sufficient cleared funds in your Wrap

Cash Account until such time as we process the relevant

transaction, the transaction will not be processed and we have

no liability in relation to the corporate action.

Where notice is received after the applicable cut-off date, or

you have insufficient funds available at the time of processing,

you may not be able to participate in the corporate action, and

we are not liable to you for any potential loss of opportunity

arising in those circumstances.

If you do not have an adviser, you are responsible for

monitoring upcoming corporate action events. If you would

like to participate, you must contact us at least eight Business

Days before the published closing date of the action.

Generally, you will not be able to vote at shareholder meetings

or participate in bonus share plans (offered on some securities,

enabling security holders to elect to receive fully paid bonus

shares instead of cash dividends) on investments held in

youraccount.

In certain circumstances, we may take a variety of actions

to remove or avoid taking assets which do not fit within the

investment options or strategies that we offer. These actions

might include not processing a corporate action, disposing of

an asset before or after the corporate action and transferring

the asset to be held directly by you.

Convertible financial products and physical

settlement of underlying assets

Some financial products are ‘convertible’ in that they change

into, or are replaced by, a different ‘underlying’ financial

product. Where the underlying assets of an investment you

hold cannot be administered on the platform, the conversion of

the investment into the underlying asset will not be allowed or

the new asset will need to be transferred out of the account.

International listed securities

All international listed securities trading is conducted online

by the Authorised Broker through your adviser. Investors

that choose to invest in these securities may be required to

complete additional forms, as required by the laws of the

foreign jurisdiction, to avoid additional tax being levied on

income derived from these investments. Where required, you

will be asked to provide these forms before any trades in these

securities can proceed.

Trading of international listed securities are generally

conducted on the basis that it is an ‘At Limit’ order.

‘At Market’ orders are able to be submitted where the

international exchange is able to support them. Where ‘At

Market’ orders are not supported, the order will be converted

to an ‘At Limit’ order opposite best price.

Please note: when buying and selling international

listed securities, the expiration date will always be

today only. Unfilled or partially filled orders will expire by

the end of the foreign exchange trading day.

Partially completed orders

If an ‘At Market’ order is only partially filled, the remainder of

the order will be amended to an ‘At Limit’ order, with the limit

being the market price at which the partial execution was

completed. Your adviser must monitor the order to ensure the

market price does not move outside of the limit or they must

amend their initial ‘At Market’ order online.

Odd lot orders

An odd lot is an order amount for a security that is outside

the normal unit of trading for that security. Some exchanges

do not support the trading of odd lots. If an odd lot purchase

of units in an international listed security is placed on such

an exchange the order will automatically round-off to the

nearest normal unit of trading for that security. Through certain

corporate actions, additional units of a security can be allotted

to an existing security holding leading to an odd lot holding.

If a sale order of the odd lot is placed, we will endeavour to

work with the broker to conduct the trade, however, there may

be additional costs and/or delays to the settlement of the odd

lot holding. Where there are additional costs incurred, these

will be reflected in the trade price.

Transacting

Domestic fixed income securities

Domestic fixed income securities are traded through an

approved fixed income broker. Minimum trade amounts vary

between institutions but are generally $500,000.

Term deposits

Your adviser (on your behalf) can make applications for term

deposits online.

The minimum term deposit application is $10,000 per deposit.

We will purchase term deposits on each Business Day (or as

permitted by the relevant issuer) and we will draw the funds

from your Wrap Cash Account on the day our application is

made to the issuer of the term deposit. The details of these

dates are available from your adviser, or from us.

On maturity of the term deposit, the amount invested (your

principal) and interest earned will be credited into your Wrap

Cash Account.

The time it will take for these funds to be available in your Wrap

Cash Account will depend on when we receive the funds from

the term deposit issuer and the time it takes for the proceeds

to be cleared in your Wrap Cash Account. For further details,

please refer to the offer document for the particular term deposit.

The interest rate applicable will be the advertised rate on the

day the term deposit closes to applications. The advertised

rate is available from your adviser or from us. Interest on term

deposits can be:

• paid into your Wrap Cash Account upon maturity, or

• reinvested, along with the principal, into another termdeposit.

Rolling over a term deposit

Through your adviser, you may elect to rollover a term deposit

to a new term deposit for the same term from the same issuer.

You can roll over either the principal or the principal plus any

interest earned on the maturing term deposit. If a rollover

election is not made, the default maturity election is Cash out,

ie the principal and any interest earned will be credited to your

Wrap Cash Account.

Please note: Once a rollover election is made for a

term deposit, it will remain in place until your adviser

makes a new maturity election. For example, where

a maturity election of Rollover Principal Only is made,

the term deposit will continue to rollover the principal

investment amount into the next available like-for-like

term deposit until that maturity election is changed.

Importantly, where you wish to rollover a term deposit, the

proceeds from the maturing term deposit are first credited

to your Wrap Cash Account and then invested in the next

available term deposit. We recommend you or your adviser

check your Wrap Cash Account balance prior to maturity

of the term deposit to ensure that you do not fall below an

available cash balance of $1,000 (which could occur, for

example, if any fees were deducted from your Wrap Cash

Account at the point the term deposit proceeds were credited

to your Wrap Cash Account, prior to the term deposit rolling).

If your Wrap Cash Account balance falls below the minimum

level, or if processing the rollover will bring the available Wrap

Cash Account balance below $1,000, the rollover may not

proceed and, the funds will remain in your Wrap Cash Account.

Your adviser is able to update your rollover election

instructions one Business Day prior to maturity (up until

9.00pm Sydney time).

Other Eligible Investments

As with other investments on the Investment Menu,

transactions in other Eligible Investments are made via your

adviser. For further information, please consult the current

Investment Menu or contact your adviser. You should carefully

consider the applicable PDS and other disclosure documents

for the underlying investment before investing.

Disclosure documents

You should read the relevant PDS or other disclosure

documents prior to investing in any of the Eligible Investments.

As the PDS for each investment may be updated or replaced

from time to time, your adviser should provide you with the

most recent PDS for each managed investment you are

considering prior to acting on your investment instructions.

If you do not have an adviser, you should obtain the relevant

PDS or other disclosure documents (which are available online)

and will need to read and confirm you have read these prior to

us acting on your investment instructions.

The PDS for each managed investment has been prepared

by the relevant underlying product issuer. These documents

contain more detailed information about the strategies

and objectives, the manager and the administration of

the investment option. The most recent versions of these

documents are available from your adviser or online.

Material events

If a material event occurs which we believe is an important

consideration when making additional contributions to, or

switches within, your account and which we have not yet

informed you about, we may be unable to comply with your

instructions immediately. We will be required to forward

you the relevant information and will only switch or invest

in the investment option when we believe you have the

necessaryinformation.

Automated investment management tools

A number of automated tools are available to assist you and

your adviser to manage your account. These tools are available

for selected managed investments only and are established

and maintained online, by your adviser. Where you do not have

an adviser, you can provide us with the relevant instructions in

writing. The income reinvestment plans are only available for

selected managed investments and listed securities.

Under the automated tools, you may acquire additional units in

managed investments without having been given a current PDS

or other disclosure documents in relation to those investments.

Your adviser can provide you with the current disclosure

documents, or they can be obtained online.

Investments through these automated tools will continue to be

made until cancelled or until the arrangement is terminated for

any reason.

Any transaction instructions and/or automated plans to buy

assets will fail where they will result in your available cash

balance falling below the $1,000 minimum balance requirement.

Transacting

Automatic cash management

To help you manage your Wrap Cash Account balance, you

and your adviser can select a minimum and/or maximum

target cash balance. This can be either specific dollar amounts

or a percentage of your account. If your Wrap Cash Account

balance exceeds your specified maximum and your account

has been open for more than one month, we will automatically

invest the additional balance according to your instructions. If

your Wrap Cash Account balance falls below your minimum

target, we will redeem some of your investments and top up

your Wrap Cash Account balance.

This feature is not available for Australian and international

listed securities, term deposits or managed funds that do not

price daily.

You can also set an investment limit so that application

orders which exceed the maximum investment limit will not

be automatically executed. These application orders will be

automatically cancelled unless they are authorised by your

adviser by the 28th of the month (or, if the 28th is a weekend

or public holiday in Sydney, the last Business Day prior).

The automatic cash management process is run on or around

the 20th of each month (this date may change without prior

notice to you).

Automatic rebalancing

You and your adviser can request us to regularly rebalance

the managed investments in your account according to

benchmarks you have established for particular assets. This

means that regardless of each investment’s performance, your

account will generally be in line with the investment strategy

you have agreed with your adviser.

You can choose to rebalance the managed investments within

your account either:

• quarterly

• half-yearly, or

• annually.

This feature is not available for Australian and international

listed securities, term deposits, SMAs or managed funds that

do not price daily.

Automatic rebalancing will occur on or around the 24th of the

month (this date may change without prior notice to you). After

your first automatic rebalancing transaction, you can instruct

your adviser to rebalance your account on demand.

Dollar cost averaging

Dollar cost averaging allows you to make regular investments

from your Wrap Cash Account into your managed investments

(not including SMAs).

You can choose to run dollar cost averaging either monthly or

quarterly. You simply decide upon a start and finish date (at least

six monthly or four quarterly investments must be made), the

amount and into which managed investments you would like

to make your investments. A minimum transaction of $250 per

month/quarter and $50 per managed investment applies. Dollar

cost averaging transactions will occur on or around the 16th of

the month (this date may change without prior notice to you).

You acknowledge that:

• under dollar cost averaging you may acquire units in

managed investments without having been given a current

PDS or other disclosure document in relation to the relevant

investment. These can be obtained through your financial

adviser or are available online, and

• investments made through dollar cost averaging will

continue to be made until you instruct us otherwise or we

notify you that we are discontinuing dollar cost averaging as

a feature.

This feature is not available for Australian and international listed

securities, term deposits, SMA or managed investments that do

not price daily.

Income from your investments: reinvestment plans

You can elect for the distributions or dividends from your

investments to be reinvested into those investments or to be

paid into your Wrap Cash Account. On your instructions, your

adviser should make this election online. Where you do not have

an adviser, you can provide us with these instructions in writing.

Cash payments and/or the reinvestment of distributions or

dividends may not be available for some investments. For further

information, please refer to your adviser or the relevant PDS and

other disclosure documents for the underlying investments.

Where you or your adviser have nominated for distributions

to be used to acquire new units in an investment, the cash

will be reinvested in the relevant investment generally on the

same Business Day or the following Business Day after the

distributions are paid to your Wrap Cash Account. The unit

price at which distributions are reinvested may differ from

the price that would apply if you participated directly in the

reinvestment plan. For further information, please refer to your

adviser or the relevant PDS and other disclosure documents

for the underlying investments.

Distributions and dividends will only be credited to your

account once the amounts and any necessary information

have been received by us.

Where you instruct us to reinvest income from your investments,

the reinvestment may be made where you do not have a copy

of the current PDS or other disclosure document for those

investments. Where you have an adviser linked to your account,

your adviser can provide you with the current PDS or other

disclosure documents, or they are available online.

Dividend bonus share plans (also known as dividend

substitution plans) are not administered in the service.

Ongoing reporting and information

Statements

We will prepare a detailed statement on the value of your

account, and any transactions that have taken place as part of

your annual statement for the 12 months to 30 June.

Statements are available online. You should check the entries

on each statement carefully and promptly report any error or

unauthorised transaction to us. If you have any queries on

transactions included in your statement, please contact us.

Independent audit and review reports

You can access the independent audit and review reports

on the Investment Manager II’s annual statements online at

macquarie.com.au/wraptax

Tax reporting

Your tax report will be prepared following the end of the

financial year and will provide details regarding your assessable

income (including dividends, distributions and realised capital

gains/losses on assets held within your account) and expenses

for the 12 months to 30 June.

Your tax report will be available online.

Should you open a margin lending account in conjunction with

your account, details of interest payments may be included on

your tax report.

Online access to your account

You can access your account online using Macquarie Online

available at online.macquarie.com.au. We will automatically

issue you with a Macquarie ID and password at the time you

establish your account.

Your online access allows you to:

• view transactions conducted since opening your account

• view your account balance, asset allocation and the latest

available market value of your investments

• view details of income you have received from your

investments and your Wrap Cash Account

• view details of the fees and taxes incurred on your account

• view your individual account details

• view your realised and unrealised gains and losses

• access your annual statement and tax report

• receive confirmations and other notices, and

• view market information.

Online information is generally updated daily with data as at

the close of the previous Business Day.

Keeping your details secure

At all times you should keep your account and Macquarie

Online login details secure. You should not disclose these

details to anyone else.

If you lose or suspect your account or Macquarie Online login

details have been compromised or used by a third party,

you should call us immediately. Failure to do so may result

in a third party having unauthorised access to your account,

including your personal details. Unauthorised access could

result in a loss of your money due to fraud or other activity that

has not been authorised by you.

Electronic notices

Where permitted by law, you agree that we can give

you all notices, statements, documents, information and

other communications in connection with your account

electronically,by:

• emailing them to your nominated email address or

sending them through SMS to your last known mobile

telephonenumber

• making them available online at a location notified to you, or

• any other way agreed with you.

Where we make information available online, you agree that we

may notify you of this fact and the location by email or SMS.

You agree to check your emails and SMS messages regularly.

You agree to notify us as soon as possible with any changes

to your contact details including but not limited to your

nominated email address and mobile telephone number.

Reports available to your adviser

Where you have an adviser linked to your account, they will

have access to your statements, and a comprehensive range

of reports and data on your account to enable them to track

your investments and other important information regarding

youraccount.

In addition, you agree that your adviser may also authorise their

Associates to access your account details, balance, transaction

history and personal information to help in the administration of

your account. Please refer to the Privacy Statement section for

further details regarding the sharing of your information.

Reporting on a group of accounts

We offer you the opportunity to link your account, for reporting

purposes, to other accounts offered by us, provided that they

are held by your spouse or other family members and they

have given you authority to view their accounts. Where this

authority has been provided, you and your adviser will be able

to access reports that show a grouped portfolio valuation and

asset allocation.

You can also provide your authority for others to view

youraccount.

Reporting

One of the benefits of Investment Manager II is consolidated reporting. Adetailed

and up-to-date picture of your account is available online, which makes

managing your account easier.

Reporting

Third party access

You can grant your accountant, self-managed super fund

administrator or other financial representative secure access to

view and download information and reports for your account,

normally only visible to you and your adviser.

With direct access to your account, your financial

representative will have the information at their fingertips to

complete your end of year accounting paperwork.

Reporting on the value of your account

The value of your account is the aggregate net value of your

investments, including your Wrap Cash Account, after the

deduction of accrued fees, taxes and charges. The information

below is a guide on how different investments are valued and

what will be reported.

Please note: Accrued fees and taxes are not reflected

in your portfolio valuation.

Managed investments

When you invest in managed investments, the number of units

allocated to you depends on that product’s unit price and the

amount you invest. Each managed investment will generally

have a different unit price set by the product issuer. The unit

price that you receive is determined by the product issuer,

and generally reflects the value of the managed investment’s

assets after deducting the product issuer’s fees, expenses and

transaction costs.

The value of your managed investments will be the number of

units held by you multiplied by the redemption unit price set by

the product issuer. Further details are available in the PDS and

other disclosure documents for each managed investment.

Please note: Accrued managed investment

distributions will not be reported on your account after

they have been declared by the product issuer and will

only be credited and reported once received by us.

Australian listed securities

Australian listed securities are generally valued at the most

recent price available which can either be their last available

closing price on the ASX or, where possible, can be as regular

as a 20 minute delay via Macquarie Online while the market is

open. If no trades have occurred for a security during the day,

the last traded price will be used.

International listed securities

International listed securities are valued at the last available

close price on the relevant exchange, converted to Australian

dollars using the London 4.00 pm close exchange rate. The

value of international shares will be shown on statements and

online in Australian dollars.

Domestic fixed income securities

Domestic fixed income securities will be valued using the

closing bid market price for the day the prices are received.

The Wrap Cash Account and term deposits

The Wrap Cash Account and term deposits are cash deposits

that earn interest based on the balance of the deposit. Interest

is paid monthly on the Wrap Cash Account and generally on

maturity for term deposits.

The value of a term deposit is determined by the amount

initially invested and the accrued interest. As the accrued

interest is not reported to us by the term deposit issuer, this will

not be reported on your account until it is paid by the issuer.

Other Eligible Investments

Information about other Eligible Investments will be included

in the reports from us or your adviser. Pricing for other Eligible

Investments varies depending on the type of asset and how

it is structured or administered through the platform. As these

circumstances may vary, please contact your adviser, or us,

for further information.

Illiquid investments

Where you hold illiquid investments, we generally value these

assets at the last trading price until new pricing information

becomes available. If these investments have not traded for

an extended period, the eventual value realised for these

investments may be substantially different to the value displayed.

We will seek to continue to report on illiquid investments. In

accordance with our valuation policies, we may change the

method by which we value an illiquid investment and report

the most accurate value for the asset.

Changes in methods for valuing assets

At our discretion, we may change the method by which we

value an asset. For example, if a method becomes available

which more accurately reflects the fair value of the assets, we

may select to use this method. If we believe a particular asset is

not fairly valued using the standard methods described above,

we may report what we believe to be a more accurate value.

You can request a withdrawal from your account at any time.

Investment Manager II offers a range of withdrawal methods:

• Electronic Funds Transfer (via the phone or internet)

• Bank cheque (fees apply)

• B

PAY

• Adviser Initiated Payments

• in-specie transfer out of your investments (fees apply), or

• any combination of the above (fees apply).

Please refer to the Wrap Cash Account Product Information

Statement for further details on withdrawals.

Where you have an adviser linked to your account, your

adviser can facilitate withdrawals by the following methods:

• Electronic Funds Transfer – your adviser can authorise a

funds transfer via the internet to a bank account that you

have previously authorised to be linked to your account

• Adviser Initiated Payments – this is an electronic banking

service that enables your adviser to initiate and complete

payments from your account with your consent via the use

of a secure code we send to you which must be provided to

your adviser verbally before the withdrawal can be processed.

Minimum total account balance

Over the life of your account, you must maintain an overall

minimum account balance of $10,000 (this minimum balance

includes your Wrap Cash Account balance).

If you have insufficient available cash in your Wrap Cash

Account to meet your required withdrawal, you can sell

investments with the resulting proceeds being credited to

your Wrap Cash Account. The proceeds cannot be used to

process a withdrawal until settlement occurs and the money is

cleared in your Wrap Cash Account.

You can make a withdrawal from your account using the

methods listed above or by completing a withdrawal form,

available from your adviser or us.

On the withdrawal form you will need to:

• confirm your name, account number and the withdrawal

amount, and

• include the details of the Australian bank or building society

account into which your withdrawal is to be transferred (if

different from an account you have previously nominated on

your application form or in writing).

As we need to verify your signature, you cannot email or give

these instructions to your adviser. Signed instructions can be

sent to us as an email attachment, subject to the Electronic

instruction service requirements. Where we do not have your

signature on file, we may request a certified copy of a form

of photo identification that captures your signature in order to

verify your instructions.

Your adviser cannot request a withdrawal for you unless the

destination account is already authorised as a linked account

or authorised by you via Adviser Initiated Payments. For further

details, please refer to the Other information section in this Guide.

All withdrawals will be processed by Electronic Funds Transfer,

unless requested otherwise. You can also request withdrawals

by bank cheque. Additional fees will apply.

If there is sufficient available cash in your Wrap Cash Account,

withdrawals will generally be processed on the Business

Day we receive your request. Proceeds will generally be

available at the destination account the following Business

Day. Withdrawal processing may take longer in certain

circumstances; for example, when the proceeds are credited

to some building societies.

Closing your account

You can request to close your account at any time by

following these steps:

1. Confirm that there are no outstanding dividends,

distributions, corporate actions, fees, term deposits still to

mature, or unsettled transactions.

2. Confirm all automated plans (automatic cash

management, automatic rebalancing, dollar cost averaging

and/or direct debits) have been cancelled. Where you

have requested your account to be closed and we have

not received notification regarding your automated plans,

we may close those plans on your behalf.

3. Ensure your holdings are sold and the proceeds are

cleared in your Wrap Cash Account or provide us with

the necessary documents to in-specie transfer out assets

that are permitted to be transferred out of your account.

Please note: that if you request an in-specie transfer of

assets out of your account, then an asset transfer fee will

apply. When selling your holdings, you and/or your adviser

should also take into consideration any purchases that

may not have finalised as a result of an automated plan.

4. Notify us that you wish to close your account, using the

following guidelines:

• notification must be in writing (to allow us to verify your

signature), you cannot email or give these instructions

verbally to your adviser.

Your signed instructions can be sent as an email

attachment to us, subject to the Electronic instruction

service requirements, and

• your signed instruction must include:

• your account name and number, and

• the details of an Australian financial institution account

into which you would like us to credit the proceeds.

Where we do not have your signature on file, we may request

a certified copy of a form of photo identification that captures

your signature in order to verify your instructions.

Online access to your accounts may be removed following the

closure of your account.

How do I withdraw?

Important information

We may not be able to complete your instructions to transfer

your assets or close your account if there are any outstanding:

• dividends and distributions: if you request that your

account be closed while dividends and distributions remain

outstanding, you may incur fees for us to redirect those

amounts to you. Processing of income is generally finalised

within five Business Days following the receipt of the

dividend or distribution and any necessary information by us

• corporate actions: check with your adviser or us that there

are no outstanding corporate actions on your account

• transactions: check with your adviser or us that there are

no outstanding transactions on your account

• fees: any outstanding fees will be deducted before closure

of youraccount

• illiquid investments: where you hold illiquid investments,

including term deposits, we may not be able to action

your request until the term deposit matures or illiquid

investments are able to be redeemed.

Managed investments

As managed investments purchased through Investment

Manager II generally require large minimum investments, it

may not be possible to transfer holdings in-specie directly

to you if you choose to close your account. However, it may

be possible to transfer your holdings in-specie to another

administration service and we will endeavour to do so upon

your written instruction.

SMAs

When you redeem your SMA investment, you can elect to

have assets sold and the proceeds paid to your Wrap Cash

Account or assets transferred to you (as allowable under law

or under the terms of the SMA and/or the underlying SMA

investments), or a combination of both.

Australian and international listed securities

You can generally retain your listed securities if you close your

account. At your request, we will in-specie transfer these

investments to you where possible.

Term deposits

As term deposit applications are pooled and invested together,

there is a limited ability to obtain funds before maturity. In

some cases, 31 days’ notice is required and term deposit

issuers may reduce interest or charge penalties for accessing

funds prior to maturity.

You should always consider the relevant term deposit issuer’s

disclosure document for details of any restrictions, delays or

break fees that may apply. Term deposits are not able to be

transferred in-specie.

Other Eligible Investments

You may be able to transfer in-specie transfer other Eligible

Investments to your name if you close your account. As the

circumstances will vary depending on the type of asset, you

should discuss this further with your adviser.

Your Wrap Cash Account

If you close your account, you can generally elect to retain

your Wrap Cash Account. You may elect to do so in your

account closure instructions to us and the Wrap Cash

Account will be converted to a CMA (and the applicable CMA

interest rate will apply from this time).

Please note that we do not give tax advice. Given the complex

and changeable nature of Australian and international tax and

social security systems, and the fact that different investors

have different tax and social security circumstances, we

recommend you seek professional tax and social security

advice prior to investing.

This summary is based on our understanding of Australian tax

laws effective as at the date of this Guide. Any of these may

change in the future without notice. Further changes in tax laws

or their interpretation or associated administrative practices

could affect the tax treatment of investors. The following

section outlines the general kinds of taxes which may apply.

Stamp duty

Stamp duty may be payable when you buy, sell or transfer

investments. The duty implications vary between state

jurisdictions; however, Australian listed securities are generally

exempt. Stamp duty, where payable, will be debited from your

Wrap Cash Account at the time of transfer or shortly after. We

recommend that you keep sufficient cash in your Wrap Cash

Account to ensure duty can be paid and to avoid delays in

in-specie transfers. It is your responsibility to keep abreast of

any relevant changes that may impact you.

Collecting your Tax File Number (TFN), Australian

Business Number (ABN) or exemption

The collection of your TFN is authorised, and its use and

disclosure strictly regulated by tax laws and the Privacy

Act 1988 (Cth). You do not have to provide your TFN, and

declining to do so is not an offence. If you do not quote your

TFN (including all TFNs for joint accounts), ABN or provide an

exemption reason, tax may be withheld from any applicable

income received in respect of your account at the highest

marginal tax rate (plus Medicare levy) before it is paid to you.

You may quote your entity’s ABN as an alternative to its TFN

if you are opening this account for purposes related to that

entity’s business. An Australian Company Number (ACN)

cannot be quoted in lieu of a TFN or ABN. If only an ACN is

provided, we will deduct withholding tax at the top marginal

rate plus Medicare levy.

For more information about the use of TFNs, please contact

the Australian Taxation Office (ATO).

Non-residents for tax purposes

If you are not an Australian resident for tax purposes, non-

resident withholding tax may be withheld from applicable

Australian sourced taxable income.

Investments that derive income that is taxable outside

of Australia

Some investments available through Investment Manager II

may pay tax in an overseas jurisdiction. Investors who choose

to invest in these securities may be required to complete

additional forms as required by the laws of the foreign

jurisdiction to avoid additional tax being levied on income

derived from these investments.

Goods and Service tax (GST) invoices

Valid tax invoices for GST purposes are available through

youradviser.

Capital gains calculations

Where you have purchased or sold an investment holding on

different dates, you are deemed to have purchased or sold

this asset in ‘parcels’. There are three methods available to

calculate capital gains or losses on these ‘parcels’.

These methods are:

• First In First Out (FIFO): under this method, the first parcel

purchased will be deemed to be the first parcel sold. This is

the default which will apply should neither of the following

two methods be chosen, on your behalf, by your adviser.

• Minimum gain/Maximum loss: under this method, the

open parcel that will generate the lowest capital gain or

maximum capital loss will be deemed to be the parcel sold.

• Specific parcel selection: under this method, your

adviser has the ability to select, on your behalf, specific

parcels relating to investments that have been sold during

the current financial year in order to calculate your CGT

position. There are certain circumstances in which parcel

selection will not be available.

Buying and selling investments and receiving income is likely to have

taxationconsequences.

Taxation

Foreign Account Tax Compliance Act (FATCA)

and Common Reporting Standard (CRS)

Foreign Account Tax Compliance Act (FATCA)

FATCA is a United States (US) tax legislation that assists the US

Internal Revenue Service (IRS) to identify and collect tax from

US residents for tax purposes that invest in certain financial

accounts through non-US entities. If you are a US resident

for tax purposes, you should note that MIML is a ‘Foreign

Financial Institution’ under FATCA. MIML intends to comply

with its FATCA obligations, as determined by either the FATCA

regulations or any inter-governmental agreement (IGA) entered

into by Australia and the US for the purposes of implementing

FATCA and any Australian laws and regulations relating to the

IGA. Australia has entered into an IGA with the US. Under these

obligations, MIML will have to obtain and disclose information

about certain investors to the ATO or IRS. In order for MIML to

comply with its obligations, we will also request that you provide

certain information about yourself, including your US Taxpayer

Identification Number (TIN) (if applicable).

Common Reporting Standard (CRS)

The Common Reporting Standard (CRS) is the single global

standard for the collection, reporting and exchange of financial

account information on foreign tax residents. Australia has

signed the OECD Multilateral Competent Authority Agreement

on Automatic Exchange of Financial Account Information. This

agreement enables CRS information to be exchanged between

jurisdictions’ tax authorities where relevant legislation has

been adopted. The Australian CRS legislation took effect from

1July 2017. From this date, MIML is required to collect certain

information about foreign tax residents to provide it to the

ATO. The ATO may pass this information onto tax authorities in

other jurisdictions who have adopted the CRS. The first reports

were due to the ATO by 31July2018, containing information

for the period from 1July2017 to 31December 2017. The

CRS reports are required to be lodged for each calendar year

thereafter. The CRS requirements are similar to those which

exist under FATCA, however, there are a greater number of

countries in respect of which the ATO may provide information

to the respective tax authorities.

Are your fees and charges tax deductible?

The administration fees you pay for your Investment ManagerII

account, and ongoing fees paid to your adviser or adviser

firm, may be tax deductible in the financial year in which they

are incurred. For specific information on what is and is not tax

deductible, please contact your professional tax adviser.

Operating your account

Outlined in this section are a number of operational details

applicable to your account.

Changing details

If any of your details change, including your personal details,

you are able to update these by notifying us in writing. You and/

or your adviser can also update some of your personal details

online. As your mobile phone number is used for identification

verification purposes, this cannot be updated online.

Electronic instruction service

Under the electronic instruction service, we will accept

account instructions, including withdrawal requests, sent in the

form of an email attachment.

Telephone recording policy

You should be aware that we may record all of our telephone

conversations with you and/or your adviser relating to your

account. By applying for an account, you consent to the

recording of our telephone conversations with you and/or

your adviser and its use (or any transcript of the recording)

in any proceedings that may be commenced in connection

with your account. You acknowledge that we are not obliged

to maintain copies of such recordings or transcripts for your

benefit. When calling, please let us know if you do not want

your conversation recorded. The application form includes an

acknowledgement to this effect.

No cooling-off period

BSCL or its delegate, the registered owner of accessible

investments, is a wholesale investor and therefore generally

not entitled to any cooling-off rights when investing in units

of managed investments. These rights are usually available to

direct retail investors under s1019B of the Corporations Act.

These rights generally allow you to return your investment

within a period of 14 days of acquiring the investment and

receive a refund. As you are an indirect investor, you are not

entitled to any cooling-off rights.

Accounts with no ongoing balance

If we have opened your account and no investments are

made within three months, we reserve the right to close your

account. Before doing so, we may contact your adviser (or

you, if your account no longer has an adviser).

Standing instructions in relation to class actions

You will generally be able to participate in class actions for

Australian listed securities and managed investments only. If

however, for any particular class action you do not wish to

participate, you must opt out by contacting your adviser and

we must receive those instructions at least three Business

Days prior to the published closing date of the action.

If you close your account prior to the conclusion of the

classaction:

• we will make reasonable efforts to forward the proceeds

to you in the manner specified on your final withdrawal or

account closure request

• where we have not been able to contact you, you may not

receive the benefit of any class action proceeds and we

reserve the right to deal with these proceeds in any manner

permitted under applicable law

• where we are unable to lodge funds with a relevant

unclaimed monies scheme, we may donate the benefit of

any class action proceeds to charity.

If your account was closed prior to the announcement of a

class action that relates to assets you held in your account,

you will not be eligible to participate.

Illiquid Investments

We will seek to continue to report on illiquid investments. In

accordance with our valuation policies, we may change the

method by which we value an illiquid investment and report

the most accurate value for the asset.

The ability to transact on illiquid investments will often be

restricted due to forces beyond our control. In these events,

we will generally work with you and/or your adviser to identify

an alternative method of transacting on these assets.

Investment decisions

All investment decisions are taken to have been made in

Australia. If you are going to be overseas for any period of

time, you must make arrangements to appoint an attorney

in Australia to work with your adviser and make investment

decisions on your behalf. If it comes to our attention that

you have not appointed an attorney, we reserve the right to

suspend all transactions on your account.

Joint accounts

If you open an account with more than one account holder,

you are liable jointly and individually for fees and costs on the

account. All joint account holders must sign the application

form to set up the account operating instructions. For example,

‘any one of us to sign’ or ‘all of us to sign’. Please note if you

choose ‘all of us to sign’, some online withdrawal methods

may not be available as they can only be operated by two or

more people. Should you wish to alter the account operating

instructions in the future, you will need to notify us in writing, in

accordance with the signing instructions of your account.

We may accept a cheque into a joint account which is payable

to any one or more of the joint account holders. If there is a

dispute about the signing authority, we reserve the right to

permit operation on the account only when all joint account

holders have signed the instruction. If an account is held in

joint names and one account holder dies, the credit balance in

the account will be treated as owing to the surviving account

holder (joint tenancy).

Deceased estates

Where you own your account as an individual, in the event we

are notified of your death:

• existing adviser service fees and adviser transaction fees

will cease (this excludes accounts that are held in joint

names, company or trust) unless we are provided with

information clearly demonstrating that services are being

provided in accordance with instructions from the legal

personal representative

• we will continue to deduct applicable administration

fees until the account is closed by your legal personal

representative or any other person who we recognise

Other information

as having a claim to your account, eg an executor or

administrator appointed to manage your estate, and

• your investments will continue to be invested in accordance

with the most recently selected investment strategy,

including transactions that may be triggered by automated

plans, until we receive other instructions from a properly

authorised person.

When an account is held in joint names and one account

holder dies, the credit balance in the account will be treated as

owing to the surviving account holder.

Working with Macquarie Bank Limited

When we invest, we may deal with MBL or its associated

companies. These companies may receive benefits and may also

be dealing as principal or dealing on behalf of other accounts

which are under the group management of the Macquarie Group.

Where we invest money of the service we will deal with the other

party to the investment transaction at arm’s length terms.

Fees paid to other parties

We have appointed BSCL to hold the service’s assets. We

may pay BSCL a fee. This fee is not an additional fee to you,

itis paid out of the administration fee.

Privacy Statement

We may collect, hold, use and disclose personal information

about you to process your application, administer and manage

the products and services sought by and provided to you,

monitor, audit and evaluate those products and services,

model and test data, communicate with you and deal with any

complaints or enquiries.

We collect and record personal information through our

interactions with you and your nominated adviser(s), including

by telephone, email or online. We may also collect personal

information from public sources and third parties including

information brokers, Government departments or agencies

and our service providers. Without this information, we may

not be able to process your application or provide you with an

appropriate level of service.

We are required or authorised to collect your personal

information under various laws including Anti-Money

Laundering and Counter-Terrorism Financing Act 2006 (Cth),

Superannuation Industry (Supervision) Act 1993 (Cth), Taxation

Administration Act 1953 (Cth), Income Tax Assessment

Act 1936 (Cth), Income Tax Assessment Act 1997 (Cth),

Corporations Act 2001 (Cth), Life Insurance Act 1995 (Cth),

Insurance Contracts Act 1984 (Cth) and Foreign Account Tax

Compliance Act (US), Common Reporting Standard and any

similar law of any country, and any related laws designed to

implement those laws in Australia.

Where you provide us with personal information about

someone else, you must first ensure that you have obtained

their consent to provide their personal information to us based

on this Privacy Statement.

Disclosure of your information

We may exchange your personal information with other

companies in the Macquarie Group as well as service

providers, which are described further in our Privacy Policy.

We may at your or your adviser’s request:

• provide your adviser and their Associates with access

to your account details, balance, transaction history and

personal information (Data), and

• share an electronic copy of your Data with third party service

providers used by you or your adviser in support of their

operations including accountants, consultants, technology

platform owner/operators or others (Third Parties).

Some of these people may be situated outside of Australia.

It’s important that you understand we have no direct control

over, or responsibility for, how your adviser, their Associates

or Third Parties will use, disclose or protect your Data. If you

have questions about this, we recommend that you speak

with youradviser.

We may suspend or terminate access to or sharing of your

Data we directly provide to a person for any reasonable

cause without notice. Your historical Data may continue to be

accessed by your adviser and their Associates. If you’d like us

to stop any direct access to Data we provide to your adviser

or their Associates, or stop sharing your Data with any Third

Parties who we share it with directly, please contact us.

We may also disclose personal information to regulatory

authorities (eg tax authorities in Australia and overseas

such as the ATO (Australia)) in connection with their lawful

information requests or to meet our legal obligations in any

relevant jurisdiction. The third parties with whom we exchange

personal information may operate outside of Australia (this

includes locations in the Philippines, India and the United

States of America) and the countries specified in our Privacy

Policy. Where this occurs, we take steps to protect your

information against misuse or loss.

Marketing

We and other companies in the Macquarie Group may use

your personal information to contact you on an ongoing basis

by telephone, electronic messages (like email), online and

other means to offer you products or services that may be of

interest to you, including offers of banking, financial, advisory,

investment, insurance and funds management services, unless

you change your marketing preferences by telephoning us as

set out below or visiting macquarie.com/optout-bfs

Your rights and further details

Under the Privacy Act, you may request access to your

personal information that we hold. You can contact us to

make such a request or for any other reason relating to the

privacy of your personal information by telephoning us on

1800 025 063 or emailing privacy@macquarie.com. Please

mark communications to the attention of our Privacy Officer.

You may also request a copy of our Privacy Policy, which

contains further details about our handling of personal

information, including how you may access or update your

personal information and how we deal with your concerns.

ThePrivacy Policy can also be found via

macquarie.com/au/about/disclosures/privacy-and-cookies

Investment Manager II is provided to you on these terms and conditions, the provisions of the Custody Deed and the information

set out in the IDPS Guide (the Guide) which describe the service and its operation. Collectively these provisions form the terms and

conditions of our Agreement with you (the Agreement).

1. This Agreement

1. Investment Manager II is only made available to persons

who are accepted by us as clients of Investment

ManagerII. We will only consider applications from

persons who satisfy the criteria for opening an Investment

Manager II account, as described in the Guide.

2. To be a client and use Investment Manager II you must:

a. open a Macquarie Wrap Cash Account (Wrap Cash

Account) as the central cash flow account

b. use an Adviser to open your account (unless you

are an existing Macquarie Wrap investment account

holder, and you do not have an adviser linked to your

existingaccount(s))

c. have a personal mobile telephone and provide us with

your personal mobile telephone number which we may

use to contact you about your account, and

d. have online access and nominate your personal email

address to which we may send you notices about

youraccount.

3. By applying for Investment Manager II, you agree to comply

with the terms of this Agreement. You will be notified that

you have been accepted as a client and an account will be

opened for you as provided for in this Guide.

4. You warrant that if you are entering into this Agreement

as a trustee of a trust, then:

a. the trust is valid and enforceable and you are the

validly appointed trustee

b. you have the power under the trust to enter into and

perform the obligations under this Agreement

c. you also enter into this Agreement in your personal

capacity, and

d. our rights under this Agreement have priority over the

interest of beneficiaries of the trust.

5. You agree that, in accordance with the Custody Deed,

we may appoint a person to act as our agent or

delegate as a custodian to hold your assets.

2. Responsibility and liability

We are responsible to you for the provision of Investment

Manager II services and will, at all times, exercise our duties

under this Agreement honestly and with reasonable care and

diligence. We are not liable to you for anything that is not our

fault or is beyond our control.

1. You are responsible for:

a. keeping your Codes confidential and secure, and

Terms and conditions

Macquarie Investment Manager II (Investment Manager II ) is an Investor Directed

Portfolio Service (IDPS) offered by Macquarie Investment Management Limited

ABN 66 002 867 003 AFSL 237492.

b. the payment of fees and costs for the maintenance

of your account and your transactions made through

Investment Manager II.

2. You acknowledge that:

a. all actions taken using your Code will be taken to be

authorised by you

b. where the value of your assets held through Investment

Manager II is not sufficient to satisfy your liability to us,

you will pay promptly all fees and charges in relation to

your account. Your liability to us is not limited to the value

of your account, and

c. we may record all of our telephone conversations

with you relating to your account. By submitting the

application form, you consent to the recording of our

telephone conversations with you.

3. Your Adviser, their Associates and

ThirdParties

1. The arrangements between you and your Adviser (including

their Associates) and you and any Third Parties are separate

from your arrangements with us under this Agreement.

2. The responsibilities of your Adviser and their Associates in

relation to your use of Investment Manager II are set out

elsewhere in this Guide. For the responsibilities of any other

Third Party you should carefully consider the agreements you

and/or your Adviser havewiththem.

4. Electronic notices and information

1. You agree that we may give you all notices, information

and other communications in connection with your

account electronically, by:

a. emailing them to your nominated email address or

sending them through SMS to your last known mobile

telephone number,

b. making them available online at a location notified to

you, or

c. any other way agreed with you.

2. Where we make information available online, you agree

that we may notify you of this fact and the location by

email or SMS or any other way agreed with you. You agree

to check your emails and SMS messages regularly.

3. You agree to ensure your contact details are kept up to

date and that you will notify us as soon as possible, in one

or more of the ways set out in the Guide, with any changes

to your contact details including but not limited to your

nominated email address and mobile telephonenumber.

Terms and conditions

4. You agree to obtain information concerning your

transactions and holdings through Investment ManagerII

electronically through Macquarie Online in lieu of receiving

a quarterly report and any other reports, statements or

information as permitted by law.

5. Online services

We agree to allow access to and use of Macquarie Online on

the conditions of use below:

1. You accept these conditions of use each time Macquarie

Online is used by you or appointed Third Parties.

2. You agree:

a. to use Macquarie Online for legitimate purposes

b. not to interfere with or damage (or attempt to interfere

with or damage) any Code, data or software associated

with Macquarie Online

c. that anything associated with or available through

Macquarie Online belongs to us or other third persons

and is protected by intellectual property rights and

agree not to access, download or otherwise use such

things other than as expressly permitted by these

conditions of use. You accept full responsibility and

agree to reimburse us for any expense, loss or liability

reasonably incurred as a result of any unauthorised use

by you of such things, and

d. to keep confidential and secure any information or data

obtained at any time by using Macquarie Online.

3. You will promptly notify us if:

a. you suspect that any person has gained access

to your Codes or is using your Codes without your

authorisation, or

b. you are aware that you have breached any of these

conditions of use, or

c. it is suspected that the security of your Codes,

computer or mobile device have been breached or

have become lost or stolen, or

d. there are any unauthorised transactions on

youraccount.

4. We will:

a. assume that any user (whether that be you or a

Third Party) has your authority each time Macquarie

Online is used with the applicable Codes in respect of

your account unless you have given us notice to the

contrary, and

b. subject to clause 9 (Your instructions), act on

properly received instructions in respect of any

transaction effected via Macquarie Online using the

applicableCodes.

5. We will confirm the receipt of instructions to transact

(although not the transaction itself) on receipt

ofinstructions.

6. You accept responsibility for and agree to reimburse us

for any expense, loss or liability (howsoever characterised)

we incur as a result of the misuse of Macquarie Online in

conjunction with your Codes, other than any expenses,

losses and liabilities incurred after you have given us notice

under clause 3 or where the expense, loss or liability is

caused by the fraud or negligence of us or our employees.

7. Anything associated with or available through Macquarie

Online belongs to us or other third persons and is

protected by intellectual property rights. You agree not

to access, download or otherwise use such things other

than as expressly permitted by these conditions of use.

You accept responsibility for and agree to reimburse us

for any expense, loss or liability incurred as a result of

any unauthorised use by you of such things.

8. We will use reasonable efforts to provide (but do not

warrant that we will provide):

a. access to Macquarie Online at all reasonable times,and

b. reliable data and information, to the extent that it is

within its control. We take no responsibility for the

reliability of data and information outside our control.

9. To the extent permitted by law, we exclude liability or

otherwise limit our liability to the cost of resupply of the

Macquarie Onlineservices for:

a. any delay, interruption or unavailability of Macquarie

Online or otherwise acting on your instructions, and

b. any inaccuracy or incompleteness of data where that

data has been provided to us by a third party or is

otherwise outside our reasonable control.

10. We reserve the right to:

a. change any of these conditions of use at any time by

giving you 30 days’ notice of material changes and

reasonable notice of any other changes, and

b. suspend or terminate use of Macquarie Online at any

time for misuse of the services or where it is otherwise

reasonable for us to do so.

11. You may:

a. end use of this service at any time by giving us

written notice, or

b. request us to cancel the authority of a Third Party to

access your account(s) using the service at any time.

We may require written confirmation of this request.

12. Your right to use Macquarie Online is personal to you

and cannot be assigned or transferred.

6. Third Party online access authority

Where you or your adviser appoint a Third Party to access and

use Macquarie Online on your behalf:

1. You authorise the Third Party to view the information of

your account on Macquarie Online, and if you indicate

in the relevant appointment, deduct fees, transact and

otherwise operate your account on your behalf.

2. You will notify us promptly if:

a. you suspect the Third Party is using the access

without your authorisation, or

b. you believe the Third Party is breaching any of these

conditions of use or the terms of their appointment.

3. You acknowledge that unless otherwise specified, the

Third Party is appointed by you and is not our agent,

and that accordingly, where we have acted properly,

without negligence or fraud, you:

a. accept responsibility and agree to reimburse

us for any expense, loss or liability (howsoever

characterised) incurred as a result of the Third Party

misusing Macquarie Online, and

Terms and conditions

b. release us from claims and liabilities in connection with any

misuse of Macquarie Online by a Third Party.

4. Where you give authority to a Third Party, you must specify

whether or not the appointment is in respect of an individual,

a group of individuals, or the business as a whole. Subject to

clause 9 (Your instructions) we will act on instructions provided

the proper Codes have been used.

5. The authority of a Third Party takes effect on the date

that we amend our records to note the appointment

and continues until you cancel it by telling us in writing.

Cancellation also takes effect on the date that we amend

our records to note the change.

7. Foreign tax residency information –(FATCA)

and Common Reporting Standard (CRS)

1. You must not knowingly do anything to put us in breachof:

• sections 1471 to 1474 of the US Internal Revenue Code

of 1986 (commonly known as FATCA), any associated

regulations or official guidance, any agreement with the US

Internal Revenue Service relating to FATCA, any Australian

laws, regulations or official guidance relating to an

intergovernmental agreement between the United States

and Australia in connection with FATCA (FATCA Laws) or

our internal policies and procedures, or

• our obligations in relation to the Common Reporting

Standard under the Taxation Administration Act 1953 (Cth)

(commonly known as CRS), any associated regulations

or official guidance, the OECD Multilateral Competent

Authority Agreement on Automatic Exchange of Account

Information or any Australian laws, regulations or official

guidance in connection with CRS (CRS Laws) or our

internal policies and procedures.

2. You agree to provide to us all the information or assistance

we may request at any time (whether as part of the

application process or otherwise) to ensure that we are able

to comply with our obligations under the FATCA Laws, CRS

Laws or our internal policies and procedures.

3. If requested, you must provide additional information and

assistance and comply with all reasonable requests to

facilitate our compliance with our obligations under the FATCA

Laws, CRS Laws or our internal policies andprocedures.

4. You acknowledge that we are subject to the FATCA Laws,

CRS Laws and our internal policies and procedures. In

making an application, you consent to us disclosing in

connection with the FATCA Laws, CRS Laws or our internal

policies and procedures any of your Personal Information

(as defined in the Privacy Act).

5. We retain the right to withhold our products and services

from you that we decide, in our sole discretion, we do not

wish to provide, including where information has not been

provided as required, to comply with FATCA Laws, CRS

Laws or our internal policies and procedures.

8. Direct Debit Request Service Agreement

The direct debit service is an optional service which allows you

to set up regular investments into your account from accounts

operated by certain other approved financial institutions which

permit the processing of direct debits. Your use of the direct

debit service is subject to the following terms and conditions:

1. The account held by your nominated financial institution

must be in the same name or names as your account.

2. Where the due date for a debit does not fall on a Business

Day, your nominated financial institution may vary the timing

of the direct debit. If you are uncertain as to when a debit

will be processed, you should ask your financial institution.

3. You must allow two Business Days for funds invested via

the direct debit service to be cleared.

4. Third parties authorised to transact on your account

cannot set up a direct debit on your behalf, but are

allowed to reduce or cancel the existing regular direct

debit on your behalf.

5. You must notify us immediately if you know or suspect

any unauthorised transactions have occurred in relation

to your direct debits. You should also notify your other

financial institution as soon as possible.

6. You must notify us immediately, and confirm that notice

in writing as soon as is possible, if you believe that

there has been an error in debiting your account. If

we conclude as a result of our investigations that your

account has been incorrectly debited, we will respond

to your query by adjusting your account accordingly.

We will also notify you of the amount by which your

account has been adjusted. If we conclude as a result of

our investigations that your account has been correctly

debited we will respond to your query by providing

reasons and evidence of this finding.

7. You must ensure that there are sufficient cleared funds

in your nominated account(s) to honour the direct

debitrequest.

8. You must ensure that the authorisation given to debit

your nominated account is identical to the account

signing instructions held by the financial institution where

your nominated account is held.

9. Your nominated financial institution(s) may decide the

order of priority of payment by it of any monies.

10. Your nominated financial institution(s) may at any time

terminate this request by notifying you or us in writing.

11. We may, by 14 Business Days’ prior notice in writing to

you, vary the timing of future debits, or any of the terms

of this clause.

12. You can modify or defer your use of the direct debit

service at any time by contacting us. Your request will

normally be processed within seven days.

13. You can stop a particular debit or cancel your direct debit

at any time by contacting us with seven days’ notice. You

can also contact your nominated financial institution.

14. When your account (including your Wrap Cash Account)

is closed, all regular deposits under the direct debit

service will cease.

15. Your use of the direct debit service may be automatically

cancelled if three consecutive direct debit payments are

dishonoured due to insufficient funds in your nominated

account. If this occurs, we will notify you that your use

of the service has been cancelled. We will also charge to

your account the cost of any dishonour costs.

16. You acknowledge that we may be required to reveal

details of your direct debit request to our service

providers to assist with the checking of any incorrect or

wrongful debits to your nominated account. In all other

circumstances, we will keep all information relating to

your direct debit arrangements private and confidential

unless otherwise required by law.

Terms and conditions

17. You authorise the external financial institution(s)

nominated on the Direct debit form to confirm the BSB,

account number and account name to us if required.

18. Direct debit requests through the Bulk Electronic Clearing

System (BECS) are not available on all accounts. You

should check your account details against a recent

statement. If you are uncertain about these matters, you

should contact your nominated financialinstitution.

19. The provider of your nominated bank account may

charge you fees if your direct debit request dishonours.

9. Your instructions

1. This Guide and the Custody Deed describe the process

and requirements for acting on your instructions.

Instructions from you or any Third Party will be acted on

except in limited circumstances, including if:

a. we suspect that you or your Third Party appointee are

in breach of the terms of this Agreement

b. the authenticity of the instruction is in doubt

c. your instructions are unclear

d. following the instructions is contrary to our Agreement

with you or the law

e. you do not have a sufficient cleared cash balance in

your Wrap Cash Account to carry out the instruction

f. your account would fall below the minimum balance if

the instructions were carried out

g. you do not have sufficient balance in managed

investments, Australian or international securities or

other investments for us to carry out the instruction, or

h. acting on them would be impracticable or would breach

relevant market practice.

2. Notwithstanding any other provision in this Agreement:

a. where an investment held on your behalf is subsequently

excluded from the Investment Menu, you authorise us

to realise the investment and deposit the proceeds into

your Wrap Cash Account, unless we cannot do so, in

which case we may transfer the assets, and

b. where we offset instructions from some clients to buy

investments against instructions to sell investments

(netting-off), you authorise us to keep any savings in

transaction costs that result from netting-off, and

c. where we hold or receive an investment which relates

to, or is to be divided between, you and one or more

investors and we reasonably believe that the investment

is not divisible, you authorise us to hold your interest

in the investment as tenants in common with other

investors, in such shares or proportions as are reflected

in our records.

3. Electronic instruction service:

a. Under the electronic instruction service, subject to

clause 9 (Your instructions) we will generally accept

account instructions, including withdrawal requests,

sent in the form of an email attachment featuring or

appearing to feature your proper signatures or those

of your Third Parties.

b. By providing instructions in this way you acknowledge

there is an increased risk of fraud and that you release

us from, and agree to reimburse us for any losses and

liabilities arising from any payment or action we (acting

reasonably) make provided we have acted without

fraud and negligence.

c. You also agree that neither you nor anyone claiming

through you has any claim against the Macquarie Group

of companies in relation to these payments or actions.

4. You give us instructions through your nominated Adviser.

Your Adviser should ask you to complete a transaction

authorisation and will then electronically instruct us to carry

out your authorised investment instructions. In carrying out

this activity your Adviser will be acting as your agent.

10. Applicable law

This Agreement is subject to the laws of New South Wales

and you and we agree to submit to the jurisdiction of the

courts of New South Wales.

11. Anti-Money Laundering and Counter-

Terrorism Financing Act 2006 (AML/CTF Act)

By opening this account:

1. You must not knowingly do anything to put us in breach

of the Anti-Money Laundering and Counter-Terrorism

Financing Act 2006, rules and other subordinate

instruments (AML/CTF Laws) and/or our internal policies

and procedures. You will notify us if you are aware of

anything that would put us in breach of AML/CTF Laws.

2. If requested, you must provide additional information

and assistance and comply with all reasonable requests

to facilitate our compliance with AML/CTF Laws, an

equivalent law in an overseas jurisdiction and/or our

internal policies and procedures.

3. You undertake that you are not aware and have no

reason to suspect that:

a. any money used to fund the investment is derived

from or related to money laundering, terrorism

financing or similar activities (Illegal Activities), or

b. the proceeds of investment made in connection with

this product will fund Illegal Activities.

4. You acknowledge that we are subject to AML/ CTF

Laws and/or its internal policies and procedures. In

making an application, you consent to us disclosing

in connection with AML/CTF Laws and/or our internal

policies and procedures any of your Personal Information

(as defined in the Privacy Act 1988 (Cth)) we have.

5. You acknowledge that in certain circumstances we may

be obliged to freeze or block an account where it is

used in connection with Illegal Activities or suspected

Illegal Activities. Freezing or blocking can arise as a

result of the account monitoring that is required by AML/

CTF Laws and/or its internal policies and procedures.

If we freeze or block your account because we believe

on a reasonable basis that we are required to do so in

order to comply with AML/CTF Laws and/or our internal

policies and procedures, we are not liable to you for

any consequences or losses whatsoever and you agree

to indemnify us if we are found liable to a third party in

connection with the freezing or blocking of your account.

6. You acknowledge that we retain the right not to provide

services/issue products to any applicant that we decide,

in our sole discretion, that we do not wish to supply.

Questions Answer

When will I receive confirmation of my

account being opened?

We will open your account once we have received all of the completed documentation.

You will receive a welcome communication, a Macquarie ID for Macquarie Online and a

password after your account has been opened.

Can I view my account online? Yes. Macquarie Online at online.macquarie.com.au provides you with access to your

account online anytime. From there you can access a variety of account information,

including reports on your investment values, transactions, income and expenses. You can

also access your periodic statements and tax report.

How do I change my contact details? If your contact details change, you or your adviser may update your contact details online

or by completing a Change of account details form, available online or from your adviser.

Because your mobile phone number is used for security identification verification purposes it

cannot be updated online.

How do I change the fees I authorise to

be deducted from my account?

You can change the fees that you authorise to be deducted from your account by

completing a Change of account fees form, available online or from your adviser.

What happens if I change my adviser? Your Investment Manager II account has been designed for investors who have advisers to

assist them with personal advice in respect of their investments. You may change advisers

at any time by giving us written notice of the change, provided the new adviser is already

registered with us.

If your adviser is not registered with us, we will seek to assist them in becoming registered.

If you do not have an adviser, you will not be able to transact on your account online. In

this circumstance we will accept written instructions from you to place transactions on your

account. Please be aware of the delay in processing your written instruction as opposed

to an adviser placing your transactions online. This may have a material effect on your

investment particularly during market fluctuations and higher than usual processing volumes.

It may also mean that you may no longer have the ability to purchase additional units in

certain managed investments you hold that your adviser was able to access. If you choose

to continue to operate your account without an adviser, you may be adversely affected. The

applicable fees and costs (excluding adviser fees) will be deducted from your account until

such time as you close your account.

If you wish to close your account, please refer to Closing your account in the section

Howdo I withdraw? in this Guide.

Our policy on treating clients without registered advisers is available upon request free

ofcharge.

Where can I see Macquarie’s

PrivacyStatement?

Our Privacy Statement is set out in this Guide – refer to the Other information section.

Frequently asked questions

Questions Answer

If I have a complaint, what do I do? If you have a complaint:

• contact your adviser and discuss your enquiry or complaint with them

• if you are not satisfied with the result, you may telephone us on 1800 025 063, or

• it may then be necessary to write to us. You can write to us at:

The Complaints Manager

Macquarie Wrap

GPO Box 4045

Sydney NSW 2001

Telephone: 1800 899 485

Email: complaints@macquarie.com

We will ordinarily respond to your written enquiry or complaint as soon as possible but

within45 days of receipt.

If you are not satisfied with our handling of a matter, you can request your complaint to

be reviewed free of charge by contacting either the Macquarie Customer Advocate or

Australian Financial Complaints Authority (AFCA), an external dispute resolution scheme, of

which Macquarie is a member.

The Customer Advocate’s role is to review the reasonableness and fairness of the outcome

of your complaint.

You may contact our Customer Advocate as follows:

The Customer Advocate

Macquarie Bank Limited

GPO Box 4294

Sydney NSW 1164

Telephone: 1800 898 307

Email: customeradvocate@macquarie.com

If you are not satisfied with our response after 45 days, you can lodge a complaint with

AFCA. AFCA provides independent financial services complaint resolution.

You can contact AFCA as follows, quoting membership number 10635:

Australian Financial Complaints Authority

GPO Box 3

Melbourne VIC 3001

Telephone: 1800 931 678 (free call)

Email: info@afca.org.au

Website: www.afca.org.au

How does the Australian Government’s

guarantee on bank deposits apply to

my account?

Please contact us or your adviser if you would like information on how the Federal

Government’s Financial Claims Scheme may apply to other deposits within the service.

Does the service deal or transact with

related parties?

Yes. In providing the service, Macquarie Group entities are involved in providing some

Investment Menu options, transaction and custodial services. How we manage these

relationships is set out in the Related party arrangements section in this Guide.

Where can I locate the

InvestmentMenu?

The Investment Menu is available at macquarie.com.au/investmenu

Some of the terms used within this IDPS Guide have a specific meaning as set out below.

Account Your Investment Manager II account.

Adviser The licensed financial planner or financial planning business who you have nominated as your adviser

and who is registered to use Investment Manager II.

Application form The application form that must be completed and you must provide acknowledgement before

opening an Investment Manager II account.

Associates Anyone working in or for your Adviser or their organisation.

ATO Australian Taxation Office.

Australian listed securities Listed securities or other listed investments which are available on the ASX or such other exchanges

as are approved from time to time and which have been subject to our menu selection process.

Australian Securities Exchange,

ASX

Australia's primary securities exchange or market which facilitates trading in a range of

financialinstruments.

Authorised Broker The Macquarie Group entity that is authorised from time to time to provide brokerage services.

Available cash The amount of cash accessible in the Wrap Cash Account for transacting and withdrawals, after

taking into account outstanding orders, fees and the minimum cash requirement.

Business Day A day, in Sydney, that is not:

• a Saturday or Sunday

• a public, bank or special holiday, or

• 27 to 31 December inclusive.

Macquarie Wrap Cash Account,

Wrap Cash Account

The central cash flow account of your Investment Manager II account, the Macquarie Wrap Cash

Account provided by Macquarie Bank Limited ABN 46 008 583 542 AFSL 237502.

Client, you or your The person named in the application form accepted by us and includes successors, executors,

administrators, substitutes and assigns of such person, and also includes any person using

Macquarie Online in conjunction with your codes with your authorisation.

Code Any of the security, access or login codes and any other passwords or personalised means of

access, (including the Macquarie ID, user identifications and PINs) to access Macquarie Online either

directly or through other devices or portals.

Custodian, BSCL Bond Street Custodians Limited ABN 57 008 607 065 AFSL 237489.

Custody Deed The Deed Poll dated 21 June 1999 (as amended from time to time) governing the custody service

provided to you for Investment Manager II.

Dealer, Dealer group The legal entity or organisation that your adviser represents in the provision of financial product

advice to you.

Delegate BSCL may, at its discretion, appoint and use the services of agents or sub-custodians to assist us in

their custodial duties.

Eligible Investments The investment options you and/or your adviser may select from the Investment Menu available

through Investment Manager II.

Fees and charges The fees and charges detailed in this Guide.

Guide This Guide being the Investor Directed Portfolio Service guide for Macquarie Investment Manager II.

IDPS An Investor Directed Portfolio Service as described in ASIC Class Order 13/763.

IDPS Class Order Class Order 13/763 issued by ASIC and as varied or supplemented by ASIC from time to time.

Illiquid investment Broadly, an investment that is difficult to be purchased or sold without:

• minimum delay, and/or

• having a significant adverse impact on the realisable value of the investment.

International listed securities Fully paid or ordinary stock available on approved exchanges.

Investment Manager II,

wrapaccount

The Macquarie Investment Manager II IDPS operated by MIML.

Investment Menu The Investment Menu outlines all Eligible Investments made available as investment options you and/

or your adviser may select.

Limit order Orders may be filled at the prevailing bid price (for sales) when that price is equal to, or greater than

the limit price, or the order may be filled at the prevailing offer price (for purchases) when that price is

equal to, or less than the limit price.

Terminology used

Macquarie Refers to Macquarie Group Limited, Macquarie Bank Limited, Macquarie Investment Management

Limited, Macquarie Equities Limited and each other member of the Macquarie Group, their

employees and agents as the context permits.

Macquarie Bank, MBL,

theBank

Macquarie Bank Limited ABN 46 008 583 542 AFSL 237502.

Macquarie Investment

Management Limited, MIML,

we, us, our

Macquarie Investment Management Limited ABN 66 002 867 003 AFSL 237492. The Operator and

distributor of Investment Manager II.

Macquarie Online The facility offered and maintained by Macquarie by which Clients, Advisers and their Associates,

and Third Party users are able to access Macquarie software containing client data, and to transact

from a remote location, including by way of telephone and internet. This facility includes associated

data, information and software owned by or licensed to Macquarie.

Macquarie Wrap Macquarie Wrap Solutions ABN 66 002 867 003, a business of MIML, which offers Wrap services

via a range of Wrap products including Investment Manager II.

Market-to-Limit order Orders are placed at the prevailing best bid (for sales) or best offer (for purchases) price and may

only be partially filled at the prevailing market price at the time the order is entered, depending on the

volume of securities available or buyer demand in the market at that time.

The Operator Any person who contracts with clients to provide a function as part of an IDPS is treated as an

Operator. MIML is the Operator of Investment Manager II.

Other personal assets Assets other than approved securities in respect of which a recording service only is provided

through Investment Manager II.

PDS A Product Disclosure Statement (PDS) is a document, or several documents, that contain information

about a financial product including any significant benefits and risks, the cost of the financial product

and the fees and charges that the financial product issuer may receive.

Portfolio Your portfolio with Investment Manager II and refers to the assets held by BSCL and other assets

recorded as part of your account.

Separately Managed Account,

SMA

A type of managed investment scheme that is not unitised and allows you and your adviser to

access a portfolio of investments professionally managed according to a defined investment strategy.

Third Party Your Adviser and any other party (whether an individual or a company), that you or your adviser

authorise to view and/or operate your account online, and includes the staff, or other representatives

of any of theabove.

Financial Services Guide

Macquarie Investment Management Limited

About this document

Financial Services Guide

Macquarie Investment Management Limited

This FSG should assist you in deciding whether to use any

of our products or services. If you choose to use any of our

products and services you may also receive other documents,

such as a disclosure document or Product Disclosure

Statement (PDS) about those products or services, which you

should read carefully.

A PDS is a document (or group of documents) that describes

a financial product. A PDS (or other disclosure document)

contains important information to assist you to make a

decision about the product it describes. You should receive

and review the PDS (or other disclosure document) produced

by us before you make an investment decision about our

products andservices.

macquarie.com

Information about Macquarie Investment Management Limited

MIML is part of the Macquarie Group of companies and

is associated with other Macquarie entities that issue

financialproducts.

Members of the Macquarie Group (including MIML) or their

associates, officers or employees (Macquarie Members) may

have interests in particular financial products by acting in various

roles including as investment banker, underwriter or dealer,

holder of principal positions, broker, lender or adviser in respect

of that financial product.

In addition, Macquarie Members may buy or sell the financial

products as principal or agent and may receive fees, brokerage

or other remuneration for acting in the various capacities set

outabove.

MIML is a Responsible Entity for Managed Investment Schemes

(including managed accounts), the operator of the Macquarie

Wrap Investor Directed Portfolio Service and Trustee for

Macquarie Superannuation Plan RSE R1004496, Macquarie

ADF Superannuation Fund RSE R1004502, and Definitive

Superannuation Plan RSE R1072839.

The Macquarie Members that MIML is associated with include:

• Macquarie Equities Limited ABN 41 002 574 923 (MEL)

• Macquarie Bank Limited ABN 46 008 583 542 (MBL)

• Macquarie Financial Products Management Limited

ABN 38 095 135 694 (MFPM)

• Macquarie Mortgages Pty Limited

ABN 23 057 760 175 (MMPL)

• Macquarie Life Limited ABN 56 003 963 773 (MLL)

• Macquarie Securities (Australia) Limited

ABN 58 002 832 126 (MSAL)

• Bond Street Custodians Ltd ABN 57 008 607 065

AFSL 237489 (BSCL)

• Macquarie Investment Management Australia Limited

ABN 55 092 552 611 (MIMAL)

• Macquarie Investment Management Global Limited

ABN 90 086 159 060 (MIMGL).

This Financial Services Guide (FSG) is an important

document in which we, Macquarie Investment Management

Limited ABN66002867003, AFSL 237492 (referred to

throughout this FSG as MIML, we, us, our) outline:

• who we are and how we can be contacted

• what services and types of products we are authorised to

provide to you

• how we (and any other relevant parties) are remunerated

• potential conflicts of interest

• how complaints are dealt with.

Financial Services Guide

Macquarie Investment Management Limited

Our financial products and services

MIML is authorised to offer a range of financial products and

services. The types of services which we provide and the

products to which those services relate include:

• dealing in a broad range of financial products, including:

• deposit and payment products

• derivatives

• foreign exchange contracts

• debentures, stocks or bonds issued or proposed to be

issued by a government

• life products (including investment life insurance products

and life risk insurance products)

• interests in managed investment schemes, including

investor directed portfolio services (IDPS)

• securities

• superannuation

• managed investment warrants

• operating registered managed investment schemes, which

hold financial assets and derivatives

• providing custodial or depository services in relation to an

investor directed portfolio service.

You can usually give us instructions via your nominated

representative (for example, your adviser) by telephone, mail,

email, or online. There may be special instruction arrangements

for some products and services, details of which will be

explained in the relevant PDS or other disclosure documents.

How to contact us

You can contact us by:

1. speaking to your nominated representative (for example,

youradviser)

2. calling us on 1800 899 485

3. online at online.macquarie.com.au

4. writing to us at:

Macquarie Wrap

GPO Box 4045

Sydney NSW 2001.

How we are paid

We may charge fees for services and products we provide.

These fees may be charged in various ways, including:

• asset based fees

• administration fees

• brokerage on trades

• subscription or service fees

• management fees

• other benefits that are paid with your consent.

If you invest in a product we provide or we deal in a financial

product for you, where permitted by law, MIML will receive

remuneration in relation to your investment in that product, which

may be based on the value of your holdings. This remuneration

may include upfront fees, administration and management fees

and costs (which includes transaction and ongoing costs where

applicable), and brokerage. In some situations exit fees, account

fees and transaction fees may apply.

The remuneration we will receive for the products we offer will

be set out in the PDS (or other disclosure documents) for that

particular product. Any financial product advice provided by us

will be general advice only and is free of charge.

When we advise you about products offered by another

member of Macquarie Group and you acquire that product, then

that member may receive remuneration. We may also receive

remuneration or other benefits where permitted by law.

You will be issued with a tax invoice for any fees payable for the

services we provide.

We maintain a register that details any material alternative forms

of remuneration that we pay to distributors of our products, or

receive from providers of products that are available through us.

The register is publicly available and you can obtain a copy by

contacting us.

If you would like further information regarding the remuneration

we receive, you can request this by contacting us.

Remuneration or other benefits received by

Macquariestaff

Our employees and directors receive salaries, bonuses, and

other remuneration and benefits from us where permitted by law.

How we pay people who refer business to us

If, subject to law, we pay a fee or give a benefit in relation to a

referral, we will make a separate disclosure to you.

How we pay people who offer our products and services

You may receive advice in relation to the products and services

we offer from financial advisers who are not part of the

Macquarie Group.

Where permitted by law, these advisers may receive remuneration

or other benefits from us which are paid from the fees you pay

when investing in our products.

We may also pay your adviser advice fees which you have

agreed with them. In certain circumstances, your adviser is

required to issue you with an annual Fee Disclosure Statement,

which will show:

• the advice fees paid

• the services your adviser provided, and

• the services that you were entitled to receive.

Your adviser is also required to tell you about remuneration and

other benefits they receive from us in the Statement of Advice

(SoA) they must give to you when providing personal advice.

Your privacy

At Macquarie, the privacy of your personal information is important

to us. Any personal information we collect will be handled in

accordance with our Privacy Policy. Our Privacy Policy details how

we comply with the requirements of the Privacy Act 1988 (Cth) in

the handling of your personal information.

If you would like a copy of the information we hold, please do

not hesitate to contact us.

Financial Services Guide

Macquarie Investment Management Limited

Compensation arrangements

Macquarie Group Limited, on behalf of MIML holds a professional

indemnity insurance policy which satisfies the regulatory

requirements for compensation arrangements under section 912B

of the Corporations Act 2001 (Cth). Subject to the terms and

conditions, the arrangements provide cover for civil liability resulting

from third party claims concerning the professional services

provided by MIML and its employees and representatives.

This insurance arrangement continues to provide coverage for

past employees and representatives in respect of professional

services performed while engaged by MIML.

How we handle complaints

We are committed to providing our clients with premium

products and services. If you’re unhappy with our products or

our service, we would like you to tell us about it and let us know

how you think we can fix it.

If you have a complaint about the service provided to you,

please contact:

• your nominated representative (for example, your adviser) or

• Client Services on 1800 899 485.

Alternatively, if you prefer to submit a written complaint, please

do so to:

The Complaints Manager

Macquarie Wrap GPO Box 4045

Sydney NSW 2001.

We will assess your complaint and advise you of the outcome,

either by telephone or in writing.

On the occasion when our clients are not satisfied with our

handling of a matter, they have the option to request their

complaint to be reviewed free of charge by either the Customer

Advocate or contact an external dispute resolution scheme.

The Customer Advocate’s role, should you decide to pursue

this avenue, is to review the reasonableness and fairness of the

outcome of your complaint.

You may contact our Customer Advocate via the following:

The Customer Advocate

Macquarie Bank Limited

GPO Box 4294

Sydney NSW 1164

Telephone: 1800 898 307

Email: customeradvocate@macquarie.com

MIML is a member of the Australian Financial Complaints

Authority (AFCA). You may lodge a complaint with the AFCA if:

• your complaint relates to the Macquarie Wrap investment

platform and you are not satisfied with our response after

45days, or

• your complaint relates to a Macquarie superannuation product

and you are not satisfied with our response after 90 days.

AFCA provides fair and independent financial services complaint

resolution that is free to consumers.

You can contact AFCA via the following, quoting membership

number 10635:

Australian Financial Complaints Authority

GPO Box 3, Melbourne VIC 3001

Telephone: 1800 931 678 (free call)

Email: info@afca.org.au

Website: www.afca.org.au

Macquarie Investment Management Limited (ABN 66 002 867 003) AFS Licence No: 237492.

Preparation date: 20 June 2019. The commencement date of the Macquarie Investment Management Limited AFS Licence is 1 March 2004.

MW471 BFS0684 10/19

How to complete an application

Investment Manager II

The application form will guide you through the questions that

are applicable to you.

Please note that for some account types we require additional

documentation. The Account types and application requirements

table that follows will advise you of any additional requirements.

When you complete the application form, please

• use a black pen

• write in capital letters

• answer all mandatory sections

• provide additional documentation where required

• sign the Declaration and Signature section, and

• send the original completed form to us.

If you make an error, please do not use correction fluid.

Instead, please cross out your error and sign next to

your amendments in full.

General guidelines

To open an account all investors must have an adviser, online

access, and have and nominate their email address and mobile

telephone number for the purposes of receiving notices and

information about their account.

You must ensure your email and mobile phone number remain up

to date. If your details change, you must update these online or let

us know as soon as possible by contacting us.

Completed application forms

Completed application forms and supporting documentation

should be sent to us at:

Macquarie Wrap

GPO Box 4045

Sydney NSW 2001

Residential and mailing addresses

Please note that we are required to collect a residential address

(or office address, where applicable) for the account holder(s).

How to complete an application

Investment Manager II

macquarie.com

If your mailing address is care of a Third Party such as your

adviser, please be aware that all correspondence will be

sent to this address, including your online access code(s)

andpasswords.

Three or more applicants

For applications with three or more applicants, please attach

a separate completed application form(s) with additional

applicant’s details.

Signing under power of attorney

If you are signing under power of attorney, please

provideidentification (eg driver’s licence) with an attached

original certified copy of the power of attorney and specimen

signature(s) of the attorney(s) if not displayed in the document.

Who should sign the application form?

Please refer to Account types and application

requirementstable.

What if we can’t open your Investment Manager II

accountimmediately?

We will endeavour to open your Investment Manager II account

as soon as possible. In some circumstances, for example, where

mandatory questions are not completed or additional documents

required are not supplied, we will not be able to open your account

until such time as this information is provided or completed. If

we are not able to open your Investment Manager II account

immediately, any money received will be held in a non- interest

bearing trust account with an authorised deposit taking institution.

The trust account is currently a deposit account held with MBL.

If we are not able to open your Investment Manager II account

within a period of one month starting from the day on which

we receive your money (or if this is not reasonably practicable,

by the end of such longer period as is reasonable in the

circumstances), we will return the money to the sender.

How to complete an application

Investment Manager II

Identification forms

The Account types and application requirements table provides

an overview of the Identification Forms required for the different

account types available to be opened via Investment Manager II.

Anti-Money Laundering/Counter-Terrorism Financing Act

2006 (AML/CTF Act)

In December 2006, the Australian Government introduced the

AML/CTF Act which requires reporting entities such as Macquarie

Group Limited (Macquarie) to conduct client identification and

verification checks. Macquarie is required to collect and verify

‘Know Your Customer’ (KYC) information which may vary by

investor type. In some instances, we may be required to conduct

enhanced due diligence before being able to proceed with your

application.

When do I need to provide identification?

You must supply an identification form and/or supporting

documentation unless you are an active account holder who

has already supplied an identification form. This also applies

to individuals who are authorised Third Party signatories on

youraccount.

Why do I need to provide identification?

The AML/CTF Act and Macquarie internal policies and

procedures require the collection and verification of specific

information from clients.

What identification form should I use and what do I need

toprovide?

This will depend on the type of account you are opening and

whether or not you are being identified through an authorised

financial adviser or directly investing withMacquarie.

Foreign tax residency information – CRS and FATCA

Under the Common Reporting Standard (CRS) and Foreign

Account Tax Compliance Act (FATCA), we are required to

collect certain information from you to identify if you are a tax

resident of a country other than Australia. If you are a foreign tax

resident, we will provide this information to the ATO, who may

pass this information on to tax authorities in other countries. Our

collection and sharing of this information is done in accordance

with our Privacy Policy. Refer to the Taxation section in this

Guide for further information.

Identification through an authorised financial adviser

An authorised financial adviser is an adviser who has held an

Australian Financial Services Licence (AFSL), or has provided

financial services as a representative on behalf of an AFSL

holder, for two or more continuous years.

If you are being identified by your financial adviser, then your

adviser will need to:

• complete the relevant FSC Identification form for the

type of account you are opening (see the Account types

and application requirements table for details of the form

you will need to complete). The Individuals and Sole

TradersIdentification form is in the back of this Guide.

Allother FSCIdentification forms are available from

macquarie.com.au/idforms

• verify certain identification documents, such as your passport

or driver’s licence. Each form has different requirements

which are specified on the form

• send a copy of the completed form to us with your

application form.

Please note: You will need to supply original or certified

copies

of your proof of identification documents to the

person who is verifying your identification.

We only require the FSC Identification form. Please do not send

us copies of identification when verification of your information is

being completed by a financial adviser.

Can you be identified without an adviser?

Yes. In the event that you are not able to be identified by your

financial adviser, you may be able to be identified by a checking

officer at a Macquarie office or at Australia Post. Further details

on the required forms, supporting identification documentation,

and process can be obtained by using our website

macquarie.com.au/idforms and following thelinks.

Please note: You will need to supply original or certified

copies

of your proof of identification documents.

What is a certified copy?

A certified copy is a copy of the original documentation which

has been signed as a true and correct copy by one of the

authorised persons listed below. The authorised person should

also print their name and position and, if possible, affix an official

stamp and date. For AML purposes, the date of the certification

must be no more than 6 months old at the time oflodgement.

Authorised persons are:

• an officer with, or authorised representative of, a holder of an

AFSL, having two or more continuous years of service with

one or more licensees

• a finance company officer with three or more continuous years

of service with one or more finance companies

• an officer with two or more continuous years of service with

one or more financial institutions

• a permanent employee of the Australian Postal Corporation

• with two or more years of continuous service who is

employed in an office supplying postal services to thepublic

• an agent of the Australian Postal Corporation who is in charge

of an office supplying postal services to the public

• a Justice of the Peace

• a person who is enrolled on the roll of the Supreme Court of

a State or Territory, or the High Court of Australia, as a legal

practitioner (however described)

• a judge of a court

• a magistrate

• chief executive officer of a court

• an Australian police officer

• an Australian consular officer or an Australian diplomatic officer

(within the meaning of the Consular Fees Act 1955)

• a member of the Institute of Chartered Accountants in

Australia, CPA Australia or the Institute of Public Accountants

with two or more years of continuous membership

• a notary public, or

• persons prescribed under the Statutory Declarations

Regulations 1993 (such as nurses, pharmacists).

The date of certification must be no more than 12 months old at the time of verification.

How to complete an application

Investment Manager II

Account types and application requirements

The table below lists the various types of applicants and any documentation required to support the application.

Each signatory on the account must provide an Individuals and sole trader identification form. This is not required for signatories

who have already provided this form.

Foreign documentation

Where any document relied on as part of the procedure is in a language that is not English, it must be accompanied by an English

translation prepared by an accredited translator.

Applicant type

Whose name must

the account be in?

Who accepts

electronically or signs?

Identification form(s) and additional

documentationrequired

✓

Individual Applicant The individual The individual

Individuals and sole traders identification form

If Attorney(s) – if you are signing under power of attorney,

please also provide a certified copy of the power of attorney

Joint Applicants Each individual

investor

All investors

Individuals and sole traders identification form

If Attorney(s) – if you are signing under power of attorney,

please also provide a certified copy of the power of attorney

Sole Trader The individual and the

business name

The sole trader

Individuals and sole traders identification form

Certified copy of registration of business name

Formal trust for a

child/minor (under

18 years of age)

The trustees of the

trust

All trustees

Unregulated Trust Identification Form

Certified copy/extract of the trust deed, showing the

trust name, trustee(s) names, trustee(s) signatures with

witness’signatures

Deceased Estate The executors of the

estate (as trustees for

the trust)

The executor

Individuals and sole traders identification form

Certified copy of the grant of probate or letters

ofadministration

Incorporated

Entities

The company • Two officers (eg

directors or a director

and secretary), or

• As required by the

constitution/rules of

thecompany, or

• One director (for a sole

director company)

Australian Company Identification form OR

Foreign Company Identification form

Certified copy of Certificate of Incorporation

Non Corporate

Trusts (including

superannuation

funds)

The trustees of the

trust

All trustees Regulated Trust Identification form OR

Unregulated Trust Identification form

Certified copy/extract of the trust deed, showing the

trust name, trustee(s) names, trustee(s) signatures with

witness’signatures

Corporate

Trusts (including

superannuation

funds)

The Corporate Trustee • Two directors, or

• Sole director, or

• Director and company

secretary (as required

by the constitution/rules

of the company)

Regulated Trust Identification form OR

Unregulated Trust Identification form

Australian Company Identification form OR

Foreign Company Identification form

Certified copy/extract of the trust deed, showing the

trust name, trustee(s) names, trustee(s) signatures with

witness’signatures

Partnerships and

Partners

The principals of the

partnership

The partners

Partnership identification form

Certified copy/extract of the partnership agreement,

showing the names of the partners

If you are not using the FSC Identification forms, you may be required to provide additional identification documentation. Please refer to macquarie.com.au/idforms for

further information. We reserve the right to vary these requirements.

How to complete an application

Investment Manager II

MW474 10/19

Applicant type

Whose name must

the account be in?

Who accepts

electronically or signs?

Identification form(s) and additional

documentationrequired

✓

Associations

Incorporated or

Unincorporated

• The name of the

incorporate body, or

• Officers on behalf of

the unincorporated

body

Appointed officers

• Applications must

be completed

under common

seal and witnessed

by two officers

(for incorporated

associations)

• All officers must specify

their title

Association identification form

Copy of signed meeting minutes showing which officers

can open and operate on the account

Registered

Co-operatives

The name of

the Registered

Co-operative

Appointed officers

• Applications must

be completed

under common seal

and witnessed by

twoofficers

• All officers must specify

their title

Co-operative identification form

Government Body The name of the

Government Body

Appointed officers

Government body identification form

For foreign government bodies, information about

beneficial ownership/control should also be provided

If you are not using the FSC Identification forms, you may be required to provide additional identification documentation. Please refer to macquarie.com.au/idforms

for further information. We reserve the right to vary these requirements.

Please ensure all relevant attachments are included.

Please take a moment to review this list to assist in the timely processing of your Macquarie Investment Manager II

applicationform.

We suggest that you check each section in the list below to assist you in successfully completing this application form.

The following sections (A–B, 1–4, 7 and 13) are MANDATORY

✔

Mandatory sections

Section A: Financial adviser details

Section B: Margin Lender approval (if applicable)

Section 1: Margin Lender details

Section 2: Cash Account details

Section 3: Applicant details

Section 3: Mobile number

Section 3: Email address

Section 4: Purpose of this investment account

Section 7: Your opening balance

Section 13: Declaration and signatures

The following sections (5, 6 and 8–12) are OPTIONAL

✔

Optional sections

Section 5: Account mailing address

Section 6: Account signing instructions

Section 8: Wrap Cash Account interest payments

Section 9: Nominated bank account details

Section 10: Broker details

Section 11: Direct debit request

Section 12: Adviser service fee

To invest in international listed securities, you must complete the International listed securities registration form.

Investment Manager II checklist

macquarie.com.au

This page has been left blank intentionally.

Do not use this form unless it is attached to or accompanying the IDPS Guide dated 23 November 2019.

Before you complete this form:

• refer to the How to complete an application section and the Account types and application requirements table in the IDPS Guide for assistance

• if there is not enough room on the application form (eg a joint account between three parties), please complete the relevant pages from a

second application form (including the Declaration and signatures pages) and attach them to the back of this application form.

To invest in international listed securities, you must also complete the International listed securities registration form.

Investment Manager II

Application form

Macquarie Investment Management Limited ABN 66 002 867 003 AFSL 237492.

Macquarie Bank Limited ABN 46 008 583 542 AFSL 237 502.

Financial adviser use only

You must be a registered ﬁnancial adviser to use this service.

Please note: we cannot process this application if the dealer code and adviser code are incomplete.

Dealer name:

Dealer code:

Adviser name:

Adviser code:

For more information regarding this application form please contact my assistant/support staff

Assistant/support name:

Contact number: Email:

By completing this section, you agree to be the agent of the client, in accordance with the disclosure in this Guide.

To be completed by the margin lender if you are opening an account with a Margin Loan

Margin Lender name:

Client Margin Loan number:

Margin Lender nominated account details

BSB:

–

Account number:

Account name:

We conﬁrm that a Margin Lending application form has been received and approved for the client(s) listed in section 3 and authorise

MIML to open an Investment Manager II account with the approved Margin Lender holding mortgage over the portfolio.

Signature 1

Date:

Name:

Signature 2

Date:

Name:

Approved Margin Lender use only

macquarie.com.au

Investment Manager II application form

4 of 16

Margin lending (mandatory)

Is this account to be linked to a Margin Loan?

No u go to section 2

Yes. You will not be able to convert an existing Macquarie Cash Management Account (CMA) to a Macquarie Wrap Cash

Account (Wrap Cash Account). If you select “yes” and you are a guarantor, please provide the name of the borrower below.

The approved Margin Lender is:

This account is to be linked as Borrower Guarantor, name of borrower:

If the account is being opened as Guarantor u go to section 3

Cash Account details (mandatory)

Do you have an existing Macquarie Cash Management Account (CMA) that you wish to convert to a Macquarie Wrap

Cash Account and use as the central cash ﬂow account?

If you are opening your account with a Margin Loan, you cannot convert an existing CMA to a Wrap Cash Account – please select no.

No. We will open a new Wrap Cash Account as your central cash ﬂow account.

Yes. Please provide your account number (BSB not required):

• Your existing CMA that you wish to convert to a Wrap Cash Account must be in the same name as your new account.

• If your adviser has opened a “pro-forma” CMA and you have not signed an application form, all mandatory sections must still

becompleted.

• We will convert the pro-forma CMA to a Wrap Cash Account upon processing your application form.

• Please note: that where an existing CMA or proforma CMA is converted to a Wrap Cash Account a lower interest rate than

that offered by the CMA will generally apply. Please refer to Your Cash Account in the IDPS Guide for further information.

• There will be no change to the account number nor operation of your account.

• Where a CMA has previously been used as a central cash ﬂow account/cash hub, it cannot be re-used and a new Wrap Cash

Account will be opened.

Applicant details (mandatory)

Account type

Individual u complete 3A, then go to 4

Joint u complete 3A and 3B, then go to 4

Company, incorporated association, incorporated body u complete 3A, 3B and 3C, then go to 4

Trust or other entity u complete 3A, 3B, 3C (where applicable). Complete trust or other entity details in 3D, then go to 4

3A Applicant 1

Title:

Full given name(s):

Surname:

Date of birth:

Any other name known by:

Gender:

Male

Female

Is the individual a business owner?

Yes. Please conﬁrm industry, trading name and ACN/ABN:

No. Please conﬁrm occupation and industry:

Investment Manager II application form

5 of 16

Residential address

Street name and number:

Suburb:

State:

Postcode:

Country:

Contact details

Work phone number:

Home phone number:

Mobile number*:

Email*:

Are you an Australian resident for tax purposes?

Yes No, please specify your country of tax residence, and note that you cannot provide an Australian TFN on this form.

PLEASE NOTE: Effective 1 January 2021, a US TIN must be provided if you are a US Speciﬁed Person. This is a mandatory

requirement and a TIN exemption reason will no longer be accepted. The account cannot be opened without a US TIN.

Tax File Number OR exemption details (if applicable):

Are you a tax resident of another country? No Yes, please specify below

Country:

TIN

If no TIN, list reason A, B or C:

If there are more countries, provide details on a separate sheet and tick this box

Reason A: The country of tax residency does not issue TINs to tax residents

Reason B: The individual has not been issued with a TIN

Reason C: The country of tax residency does not require the TIN to be disclosed

Please refer to the Ta xation section in this Guide for details on TFN collection.

For joint accounts, withholding tax will be deducted unless all account holders are Australian residents for tax purposes and

have provided their TFNs.

Electronic access

Do you have an existing Macquarie ID?

No Yes, please specify your Macquarie ID:

Email address for BPAY

and PayAnyone transactions:

As above Other, email address:

We will provide you with a Macquarie ID and online access to your account through online.macquarie.com.au. Online access

allows you to view your account, access statements and reports, and make BPAY

and Pay Anyone payments online. If you do

not check a box, a new Macquarie ID will be issued to you.

3B Applicant 2

Title:

Full given name(s):

Surname:

Date of birth:

Any other name known by:

Gender:

Male

Female

Is the individual a business owner?

Yes. Please conﬁrm industry, trading name and ACN/ABN:

No. Please conﬁrm occupation and industry:

Residential address

Street name and number:

Suburb:

State:

Postcode:

Country:

Applicant details (mandatory)

* These fields are mandatory for security purposes. Your email and mobile number must be your own and be accessed regularly by you.

If you are a US Specified Person, it is a mandatory requirement to provide a US TIN and a TIN exemption reason will not be accepted.

Registered to Bpay Pty Ltd ABN 69 079 137 518.

Investment Manager II application form

6 of 16

Contact details

Work phone number:

Home phone number:

Mobile number*:

Email*:

Are you an Australian resident for tax purposes?

Yes No, please specify your country of tax residence, and note that you cannot provide an Australian TFN on this form

PLEASE NOTE: Effective 1 January 2021, a US TIN must be provided if you are a US Speciﬁed Person. This is a mandatory

requirement and a TIN exemption reason will no longer be accepted. The account cannot be opened without a US TIN.

Tax File Number OR exemption details (if applicable):

Are you a tax resident of another country? No Yes, please specify below

Country:

TIN

If no TIN, list reason A, B or C:

If there are more countries, provide details on a separate sheet and tick this box

Reason A: The country of tax residency does not issue TINs to tax residents

Reason B: The individual has not been issued with a TIN

Reason C: The country of tax residency does not require the TIN to be disclosed

Please refer to the Taxation section of the IDPS Guide for details on TFN collection.

For joint accounts, withholding tax will be deducted unless all account holders are Australian residents for tax purposes and

have provided their TFNs.

Electronic access

Do you have an existing Macquarie ID?

No Yes, please specify your Macquarie ID:

Email address for BPAY

and PayAnyone transactions:

As above Other, email address:

We will provide you with a Macquarie ID and online access to your account through online.macquarie.com.au. Online access

allows you to view your account, access statements and reports and make BPAY

and Pay Anyone payments online. If you do

not check a box, a new Macquarie ID will be issued to you.

3C Company, incorporated association or incorporated body

If the entity is a trustee, please also complete section 3D.

Name of entity:

What is the nature of the activities undertaken by the entity?

ACN (where applicable):

You must provide an ACN if an ABN or Tax File Number is not provided below. If only an ACN is provided, you will be charged

withholding tax at the highest marginal rate plus Medicare levy.

Principal place of office (cannot be a PO Box)

Street name and number:

Suburb:

State:

Postcode:

Country:

It is important that you provide the TFN of the account holder entity (ie. company, incorporated association or incorporated body)

and not of the individual. If you are an individual person, please refer to section 3A and 3B above.

ABN, Tax File Number OR exemption details (if applicable):

An ACN cannot be quoted in lieu of a TFN/ABN. If you do not provide us with an ABN or a TFN, you will be charged withholding

tax at the highest marginal rate plus Medicare levy.

Applicant details (continued)

* These fields are mandatory for security purposes. Your email and mobile number must be your own and be accessed regularly by you.

If you are a US Specified Person, it is a mandatory requirement to provide a US TIN and a TIN exemption reason will not be accepted.

Registered to Bpay Pty Ltd ABN 69 079 137 518.

Investment Manager II application form

7 of 16

Applicant details (continued)

Is the entity a tax resident of a country other than Australia?

No Yes, please provide the entities' country of tax residence and tax identiﬁcation number (TIN) or equivalent below.

Ifthe entity is a tax resident of more than one other country, please list all relevant countries below.

A TIN is the number assigned by each country for the purposes of administering tax laws. This is the equivalent of a Tax File

Number in Australia or an Employer Identification Number in the US. If a TIN is not provided, please list one of the three reasons

specified (A, B or C) for not providing a TIN.

PLEASE NOTE: Effective 1 January 2021, a US TIN must be provided if the entity is a US Speciﬁed Person. This is a mandatory

requirement and a TIN exemption reason will no longer be accepted. The account cannot be opened without a US TIN.

Country 1 Country 2 Country 3

Country

TIN (if no TIN, list reason A, B or C)

Country

TIN (if no TIN, list reason A, B or C)

Country

TIN (if no TIN, list reason A, B or C)

Reason A: The country of tax residency does not issue TINs to tax residents

Reason B: The entity has not been issued with a TIN

Reason C: The country of tax residency does not require the TIN to be disclosed

Please cross this box if there are more countries, provide details on a separate sheet.

3D Trust or other entity

Please provide the name of the self managed super fund, trust, deceased estate, business or unincorporated association.

If you are unsure of the correct name, please refer to the Account types and application requirements table in the IDPS Guide.

Trustees must complete sections 3A, 3B and 3C as applicable and provide appropriate documentation.

Name of trust or entity:

What is the nature of the activities undertaken by the trust or entity?

Fund or trust ABN/ACN:

It is important that you provide the TFN of the account holder entity (ie. trust, or other entity) and not of the individual trustee. If you

are a trustee, please refer to section 3A and 3B above.

Tax File Number OR exemption details (if applicable):

Please select one of these account types: Trust Partnership Self managed super fund

Other:

Is the entity a tax resident of a country other than Australia?

No Yes, please provide the entities' country of tax residence and tax identiﬁcation number (TIN) or equivalent below.

Ifthe entity is a tax resident of more than one other country, please list all relevant countries below.

A TIN is the number assigned by each country for the purposes of administering tax laws. This is the equivalent of a Tax File

Number in Australia or an Employer Identification Number in the US. If a TIN is not provided, please list one of the three reasons

specified (A, B or C) for not providing a TIN.

PLEASE NOTE: Effective 1 January 2021, a US TIN must be provided if the entity is a US Speciﬁed Person. This is a mandatory

requirement and a TIN exemption reason will no longer be accepted. The account cannot be opened without a US TIN.

Country 1 Country 2 Country 3

Country

TIN (if no TIN, list reason A, B or C)

Country

TIN (if no TIN, list reason A, B or C)

Country

TIN (if no TIN, list reason A, B or C)

Reason A: The country of tax residency does not issue TINs to tax residents

Reason B: The entity has not been issued with a TIN

Reason C: The country of tax residency does not require the TIN to be disclosed

Please cross this box if there are more countries, provide details on a separate sheet.

Investment Manager II application form

8 of 16

What is the purpose of this investment? (mandatory)

Savings Growth Income Retirement Business Account

Other, please specify:

Please ensure that you have completed all of the mandatory sections (1 – 4) on the previous pages and that your adviser and the

approved Margin Lender (where applicable) have completed sections A and B. You may wish to complete the optional sections

below (please refer to the checklist or proceed to sections 7 and 13).

Account signing instructions

A. Joint accounts: Any one of us to sign All of us to sign

Other (if more than two applicants):

Please note: If you do not check a box above, all future written instructions must be executed in the same

way as this application form (unless instructed otherwise in writing). Eg, if the account is opened in joint

names, both individuals will need to sign any written instruction.

B. Company, incorporated association or body

These accounts must be signed by two officers (eg two directors, a director and secretary or two office holders), or as

required by the constitution or rules of the company or body, or signed by one director for a sole director company.

Any one of us to sign All of us to sign Other:

Where signed under Corporate Power of Attorney, a certified copy of this document must also be provided with the

application form. Please ensure your director details have been completed in section 3.

Please note: If you do not check a box above, all future written instructions must be executed in the same

way as this application form (unless instructed otherwise in writing).

Account mailing address (if different from your residential or

principal place of ofﬁce address)

This address will receive all correspondence in relation to your account. If this section is not completed, all mail will be

sent to the residential address of Applicant 1 or the principal place of ofﬁce address as applicable.

Attention or c/o:

Street name and number (or PO Box):

Suburb:

State:

Postcode:

Country:

Is this address care of a Third Party? No Yes

Third party examples include your financial adviser, stockbroker, accountant or self managed super fund administrator.

Investment Manager II application form

9 of 16

Wrap Cash Account interest payments

Nominated bank account details

Broker details

Your adviser should be able to buy and sell Australian listed securities online by using the Authorised Broker. Please

refer to the “Authorised broker list”, available from your adviser, for the broker code(s).

If you wish to nominate additional authorised brokers to trade on your account, please list the institution(s) here.

Broker name:

Broker code:

Broker name: Broker code:

Where would you like your Wrap Cash Account interest paid?

Paid into my Wrap Cash Account Paid into my other Macquarie account or an account with another Australian ﬁnancial

institution indicated in section 9 below

Please nominate your Australian ﬁnancial institution details for withdrawals and the payment of your Wrap Cash Account interest

(ifapplicable). This account will automatically become a nominated account for funds transfers out of your Wrap Cash Account.

Australian ﬁnancial institution name:

BSB:

–

Account number:

Account name:

Please note: Any amendments to this section must be signed in full by the applicant(s).

Your opening balance (mandatory)

How much is your initial investment? $

What is the source of funds for this account? Superannuation contributions Commission Inheritance Savings

Investment Normal course of business Asset sale Other:

Please indicate how the opening balance will be provided:

Cheque (attached to this application form). Incorrect cheque payee details may result in delays in banking or rejection of the

cheque. Please ensure your cheques are made payable to: Macquarie Investment Manager II (full account name)

Direct debit, please complete section 11

In-specie transfer of assets

Funds transfer by internet/phone (eg Bpay

)

Transferring from your existing Wrap Cash Account, please specify account number:

Amount you wish to transfer: Full balance, and close account Partial amount of $

If transferring from your existing CMA, you will be authorising us to transfer this amount from your speciﬁed CMA into your

Wrap Cash Account. We will close your existing CMA if transferring the full balance.

Convert my existing CMA as per section 2

Investment Manager II application form

10 of 16

Complete this section if you wish to set up a one-off and/or a regular deposit into your Wrap Cash Account.

A. One-off deposit – specify a one-off deposit amount if this is going to be different from your ongoing direct debit.

To be processed:

Immediately

Speciﬁc date:

B. Regular deposit

To be processed:

Weekly Day of week:

Monthly Start date:

Quarterly Start month:

Debited at the end of the nominated month.

Half yearly Start month:

Debited at the end of the nominated month.

Yearly Start date:

Debited at the end of the nominated month.

End date:

If you do not specify an end date, the direct debit will continue until we receive further notice from you or the direct debit is

terminated for reasons set out in this Guide.

C. Account to be debited

You cannot nominate a Third Party account. The account must be in the same name as your account.

Australian ﬁnancial institution name:

BSB:

–

Account number:

Account name:

Please attach an account statement that is less than six months old, for the account you are debiting.

D. Declaration

You authorise Macquarie Bank Limited (MBL) ABN 46 085 835 542 AFSL No. 237502 (User ID 362941) (MBL) under

the terms and conditions speciﬁed in this IDPS Guide, until further notice from you, to debit the nominated account with

any amount which MIML or MBL may debit or charge you in connection with your Macquarie Wrap Cash Account direct

debit(s), through the BECS (Bulk Electronic Clearing System).

To be signed by ALL nominated account holders (not Third Party authorised signatories). Please note that

electronic or digital signatures will not be accepted.

Signature 1

Date:

Title:

Name:

If a company officer, your corporate title:

Signature 2

Date:

Title:

Name:

If a company officer, your corporate title:

u If you wish to amend or cancel your direct debit facility, please complete the Direct debit request form.

Direct debit request

Investment Manager II application form

11 of 16

Adviser service fee details

Fees on cash

Fees can be charged on cash where the dealer has previously agreed with MIML to have this option available.

Check this box if the adviser service fees are to include your Wrap Cash Account balance

Adviser service fee details

Any amendments to this section must be signed in full by the applicant(s).

We will apply GST net of the effect of any reduced input tax credit (RITC) to the base fee rate set by your adviser.

By completing this section, you authorise the payment to your adviser of the amounts set out below.

Initial advice fee (ex-GST): $

(speciﬁc dollar amount only)

Ongoing adviser service fee: The adviser service fee is an annual fee, calculated on the daily closing balance of your account

and deducted monthly.

Choose one of the following:

• (a) or (b) or (c)

• (a) and (c)

• (b) and (c)

OR …and Australianlisted

securities, domestic

xed income securities

and international

listedsecurities

(ex-GST) % pa

On all

investments

(ex-GST)

% pa

on managed

investments

(including SMAs)

and term deposits

(ex-GST) % pa…

(a) Tiered fee (ex-GST) (percentage of your account value)

From To

$ 0.00

$ $

$ 999,999,999.99

(b) Flat fee (ex-GST) (percentage of your account value)

(c)

Flat fee (ex-GST) (speciﬁc dollar fee per annum)

Ongoing adviser service fees annual indexation (this will only apply to flat fee – specific dollar fee per annum)

Consumer Price Index (CPI)

OR Flat percentage

Adviser transaction fee (online purchases only)

per transaction OR

% of the transaction value (ex-GST)

Investment Manager II application form

12 of 16

Declaration and signatures

This application accompanies the Investment Manager II IDPS Guide, dated 23 November 2019, which contains information about

investing through Investment Manager II and should be read in conjunction with the Macquarie Wrap Cash Account Product

Information Statement (PIS) and any supplementary disclosures and governing terms before applying for an Investment ManagerII

account. The IDPS Guide is issued by Macquarie Investment Management Limited ABN66002867003 AFSL237492.

Each signatory on the account must provide an Individual and Sole Traders Identiﬁcation Form. This is required for

all signatories unless the signatory has an active account with Macquarie and has already supplied an Identiﬁcation Form.

• Please note that company accounts generally require two signatories. See Account types and application requirements

table in the IDPS Guide.

• Please ensure that sections A–B, 1–4, 7 and 13 have all been completed before signing the declaration. We cannot

open your account unless all mandatory sections have been completed.

The following conditions apply if you have applied for Margin Lending in conjunction with your Investment Manager II account

You have applied for a Margin Loan from an approved Margin Lender. You would like the Margin Lender to set up an Investment

Manager II account in respect of your loan. You understand that your Investment Manager II account (including the Macquarie Wrap

Cash Account) will be in the name of and may only be operated by the Margin Lender (or its custodian) or by your adviser within

guidelines established by the Margin Lender. You understand that your loan is governed by the loan agreement with the Margin

Lender. The terms and conditions governing your Margin Loan are contained in the loan agreement with the Margin Lender. You

authorise the Margin Lender to supply Macquarie with information in respect of your loan for the purposes of administering your

Investment Manager II account. You authorise Macquarie to supply the Margin Lender with information in respect of your account

for the purposes of administering your Investment Manager II account. You have read and understood the conditions of tax ﬁle

number collection, personal information consents and telephone recording policy in the IDPS Guide. If in due course you discharge

the Margin Loan and wish to continue to have your Investment Manager II account, the Margin Lender will instruct Macquarie

to change the account name to you. If this occurs, you agree to be bound by the terms, conditions and requirements of the

Investment Manager II IDPS Guide.

The following conditions apply for all applications

You conﬁrm that this application was signed in Australia. You agree to be bound by the terms, conditions and requirements

of the Investment Manager II agreement, which includes the IDPS Guide. You conﬁrm that you have received the current offer

document and any supplementary material for the Macquarie Wrap Cash Account, and any investments chosen and a written

recommendation where required. You agree to be bound by the terms of the offer document and any supplementary material.

You conﬁrm you have read the Financial Services Guide for Macquarie Investment Management Limited and Macquarie Bank

Limited. You have read and understood the conditions of tax ﬁle number collection, personal information consents and telephone

recording policy in the IDPS Guide. You acknowledge that all investment decisions must take place in Australia and declare that if

you are going to be overseas for any period of time, you will appoint a Power of Attorney in Australia to consult with your ﬁnancial

adviser to make investment decisions on your behalf.

You should read the IDPS Guide attached to this application form, the PDS and other disclosure documents for each

investment which you have chosen before signing this application form.

Investments made through Investment Manager II, other than any holdings in term deposits with Macquarie Bank Limited and the

Macquarie Wrap Cash Account (Wrap Cash Account), are not deposits with or other liabilities of Macquarie Bank Limited or of

any Macquarie Group company, and are subject to investment risk, including possible delays in repayment and loss of income or

principal invested. Neither Macquarie Bank Limited, MIML nor any other member company of the Macquarie Group guarantees the

performance, the repayment of capital or any particular rate of return of the investments purchased through Investment Manager II.

You conﬁrm that the information provided by you in this application form, or to your ﬁnancial adviser, to enable Macquarie to

comply with:

• the US Foreign Account Tax Compliance Act, any associated regulations or ofﬁcial guidance, any agreement with the US

Internal Revenue Service relating to FATCA, any related laws, regulations or ofﬁcial guidance designed to implement those laws

in Australia, or our internal policies and procedures, and

• the Common Reporting Standard under the Taxation Administration Act 1953 (Cth) (CRS), the OECD Multilateral Competent

Authority Agreement on Automatic Exchange of Account Information, any Australian laws, regulations or ofﬁcial guidance in

connection with CRS, or our internal policies and procedures is correct and, where relevant, reﬂects your tax status for the

purposes of FATCA and CRS. You will promptly notify Macquarie and provide Macquarie with any changes to the information

provided by you in connection with FATCA and CRS and, on request, with any further information which is necessary or

desirable for Macquarie to comply with any obligations it may have in connection with FATCA and CRS.

By signing this form, you agree that your adviser is your agent in accordance with the disclosure in the IDPS Guide.

You acknowledge that, by investing through Investment Manager II, you do not have access to some of the rights and entitlements

that would otherwise be available to you as a retail investor if you invested in the underlying ﬁnancial products directly.

Investment Manager II application form

13 of 16

If you have not done so already, review the Investment Manager II checklist above to ensure there

are no delays in opening your account.

Please upload the completed application and all accompanying documents to Macquarie

Request Centre. You can access this through Adviser Online. Alternatively, please return

via email to wrapsolutions@macquarie.com or send them to Macquarie Wrap, GPO Box

4045, Sydney NSW 2001.

Speciﬁcally you understand that this includes not having the same rights as direct retail investors or not having access to:

• cooling-off rights (outlined in the How is investing in Investment Manager II different to investing directly? section of the

IDPSGuide)

• withdrawal rights (outlined in the How is investing in Investment Manager II different to investing directly? section of the

IDPSGuide)

• voting rights (outlined in the Voting Policy section of the IDPS Guide), and

• certain functionalities on the platform if you do not have an adviser registered with Macquarie Wrap (outlined in the Frequently

asked questions section of the IDPS Guide).

You acknowledge that you can change your marketing preferences by telephoning Macquarie on 1800 025 063 or

visiting macquarie.com.au/optout-bfs

By signing below, you agree to the Terms and Conditions and Privacy Statement which describes the handling of your personal

information, including direct marketing. You also conﬁrm that your electronic contact details provided on this form are correct and

you consent to us sending you notices and information relating to your account electronically as set out in the IDPS Guide and

Terms and Conditions. You agree to notify us as soon as possible of any changes to these contact details.

For investors signing under power of attorney

If you are signing under power of attorney, you conﬁrm that you have no notice of the revocation of the power of attorney.

For investors accessing the IDPS Guide online

You have personally received the electronic IDPS Guide or a paper printout of the electronic IDPS Guide accompanied by or

attached to this application form before or at the same time as you received this application form.

Please note that electronic or digital signatures will not be accepted.

Signature 1

Date:

Title:

Name:

If a company officer, your corporate title:

Signature 2

Date:

Title:

Name:

If a company officer, your corporate title:

Declaration and signatures (continued)

This page has been left blank intentionally.

Investment Manager II application form

15 of 16

IDENTIFICATION FORM

INDIVIDUALS & SOLE TRADERS

19 May 2017 version – Refer to FSC/FPA GUIDANCE - MANAGING AML/CTF AND FATCA/CRS CUSTOMER IDENTIFICATION OBLIGATIONS for conditions of use

1/2

GUIDE TO COMPLETING THIS FORM

o Complete one form for each individual. Complete all applicable sections of this form in BLOCK LETTERS.

o Tax information must be collected from the individual

o Contact your licensee if you have any queries.

SECTION 1: PERSONAL DETAILS

Surname

Date of Birth

dd/mm/yyyy

Full Given Name(s)

Residential Address (PO Box is NOT acceptable)

Street

Suburb

State Postcode Country

COMPLETE THIS PART IF INDIVIDUAL IS A SOLE TRADER

Full Business Name (if any) ABN (if any)

Principal Place of Business (if any) (PO Box is NOT acceptable)

Street

Suburb

State Postcode Country

SECTION 2: TAX INFORMATION

Tax Residency rules differ by country. Whether an individual is tax resident of a particular country is often (but not always) based on the amount of time a person

spends in a country, the location of a person’s residence or place of work. For the US, tax residency can be as a result of citizenship or residency.

Please answer both

tax residency questions:

Is the individual a tax resident of Australia? Yes No

Is the individual a tax resident of another Country? Yes No

If the individual is a tax resident of a country other than Australia, please provide their tax identification number (TIN) or equivalent below. If

they are a tax resident of more than one other country, please list all relevant countries below.

A TIN is the number assigned by each country for the purposes of administering tax laws. This is the equivalent of a Tax File Number in Australia or a Social

Security Number in the US. If a TIN is not provided, please list one of the three reasons specified (A, B or C) for not providing a TIN.

1. Country TIN If no TIN, list reason A, B or C

2. Country TIN If no TIN, list reason A, B or C

3. Country TIN If no TIN, list reason A, B or C

If there are more countries, provide details on a separate sheet and tick this box.



Reason A The country of tax residency does not issue TINs to tax residents

Reason B The individual has not been issued with a TIN

Reason C The country of tax residency does not require the TIN to be disclosed

Investment Manager II application form

16 of 16

IDENTIFICATION FORM INDIVIDUALS & SOLE TRADERS

19 May 2017 version – Refer to FSC/FPA GUIDANCE - MANAGING AML/CTF AND FATCA/CRS CUSTOMER IDENTIFICATION OBLIGATIONS for conditions of use

2/2

SECTION 3: VERIFICATION PROCEDURE

Verify the

individual’s

full name; and

EITHER

their date of birth or residential address.

o Complete Part I (or if the individual does not own a document from Part I, then complete either Part II or III.)

o Contact your licensee if the individual is unable to provide the required documents.

PART I – ACCEPTABLE PRIMARY PHOTOGRAPHIC ID DOCUMENTS

Tick 

Select ONE valid option from this section only



Australian State / Territory driver’s licence containing a photograph of the person



Australian passport (a passport that has expired within the preceding 2 years is acceptable)



Card issued under a State or Territory for the purpose of proving a person’s age containing a photograph of the person



Foreign passport or similar travel document containing a photograph and the signature of the person*

PART II – ACCEPTABLE SECONDARY ID DOCUMENTS –

should only be completed if the individual does not own a document from Part I

Tick 

Select ONE valid option from this section



Australian birth certificate



Australian citizenship certificate



Pension card issued by Department of Human Services (previously known as Centrelink)

Tick



AND ONE valid option from this section



A document issued by the Commonwealth or a State or Territory within the preceding 12 months that records the provision of financial

benefits to the individual and which contains the individual’s name and residential address



A document issued by the Australian Taxation Office within the preceding 12 months that records a debt payable by the individual to the

Commonwealth (or by the Commonwealth to the individual), which contains the individual’s name and residential address. Block out the TFN

before scanning, copying or storing this document.



A document issued by a local government body or utilities provider within the preceding 3 months which records the provision of services to

that address or to that person (the document must contain the individual’s name and residential address)



If under the age of 18, a notice that: was issued to the individual by a school principal within the preceding 3 months; and contains the name

and residential address; and records the period of time that the individual attended that school

PART III – ACCEPTABLE FOREIGN PHOTOGRAPHIC ID DOCUMENTS – should only be completed if the individual does not own a document from Part I

Tick 

Select ONE valid option from this section only



Foreign driver's licence that contains a photograph of the person in whose name it issued and the individual’s date of birth*



National ID card issued by a foreign government containing a photograph and a signature of the person in whose name the card was issued*

*Documents that are written in a language that is not English must be accompanied by an English translation prepared by an accredited translator.

IMPORTANT NOTE:



Either attach a legible certified copy of the ID documentation used to verify the individual (and any required translation) OR



Alternatively, if agreed between your licensee and the product issuer, complete the Record of Verification Procedure section below and

DO NOT attach copies of the ID Documents

SECTION 4: RECORD OF VERIFICATION PROCEDURE

ID DOCUMENT DETAILS Document 1 Document 2 (if required)

Verified From

 Original  Certified Copy  Original  Certified Copy

Document Issuer

Issue Date

Expiry Date

Document Number

Accredited English Translation

 N/A  Sighted  N/A  Sighted

By completing and signing this Record of Verification Procedure I declare that:

an identity verification procedure has been completed in accordance with the AML/CTF Rules, in the capacity of an AFSL holder or their authorised

representative and

the tax information provided is reasonable considering the documentation provided.

AFS Licensee Name AFSL No.

Representative/ Employee Name Phone No.

Signature

Date

Verification

Completed

BFS0213 IM2 12/20

IDENTIFICATION FORM INDIVIDUALS & SOLE TRADERS

19 May 2017 version – Refer to FSC/FPA GUIDANCE - MANAGING AML/CTF AND FATCA/CRS CUSTOMER IDENTIFICATION OBLIGATIONS for conditions of use

2/2

SECTION 3: VERIFICATION PROCEDURE

Verify the

individual’s

full name; and

EITHER

their date of birth or residential address.

o Complete Part I (or if the individual does not own a document from Part I, then complete either Part II or III.)

o Contact your licensee if the individual is unable to provide the required documents.

PART I – ACCEPTABLE PRIMARY PHOTOGRAPHIC ID DOCUMENTS

Tick 

Select ONE valid option from this section only



Australian State / Territory driver’s licence containing a photograph of the person



Australian passport (a passport that has expired within the preceding 2 years is acceptable)



Card issued under a State or Territory for the purpose of proving a person’s age containing a photograph of the person



Foreign passport or similar travel document containing a photograph and the signature of the person*

PART II – ACCEPTABLE SECONDARY ID DOCUMENTS –

should only be completed if the individual does not own a document from Part I

Tick 

Select ONE valid option from this section



Australian birth certificate



Australian citizenship certificate



Pension card issued by Department of Human Services (previously known as Centrelink)

Tick 

AND ONE valid option from this section



A document issued by the Commonwealth or a State or Territory within the preceding 12 months that records the provision of financial

benefits to the individual and which contains the individual’s name and residential address



A document issued by the Australian Taxation Office within the preceding 12 months that records a debt payable by the individual to the

Commonwealth (or by the Commonwealth to the individual), which contains the individual’s name and residential address. Block out the TFN

before scanning, copying or storing this document.



A document issued by a local government body or utilities provider within the preceding 3 months which records the provision of services to

that address or to that person (the document must contain the individual’s name and residential address)



If under the age of 18, a notice that: was issued to the individual by a school principal within the preceding 3 months; and contains the name

and residential address; and records the period of time that the individual attended that school

PART III – ACCEPTABLE FOREIGN PHOTOGRAPHIC ID DOCUMENTS – should only be completed if the individual does not own a document from Part I

Tick 

Select ONE valid option from this section only



Foreign driver's licence that contains a photograph of the person in whose name it issued and the individual’s date of birth*



National ID card issued by a foreign government containing a photograph and a signature of the person in whose name the card was issued*

*Documents that are written in a language that is not English must be accompanied by an English translation prepared by an accredited translator.

IMPORTANT NOTE:

 Either attach a legible certified copy of the ID documentation used to verify the individual (and any required translation) OR

 Alternatively, if agreed between your licensee

and the product issuer, complete the Record of Verification Procedure section below and

DO NOT attach copies of the ID Documents

SECTION 4: RECORD OF VERIFICATION PROCEDURE

ID DOCUMENT DETAILS Document 1 Document 2 (if required)

Verified From

 Original  Certified Copy  Original  Certified Copy

Document Issuer

Issue Date

Expiry Date

Document Number

Accredited English Translation

 N/A  Sighted  N/A  Sighted

By completing and signing this Record of Verification

Procedure I declare that:

an identity verification procedure has been completed in accordance with the AML/CTF Rules, in the capacity of an AFSL holder or their authorised

representative and

the tax information provided is reasonable considering the documentation provided.

AFS Licensee Name AFSL No.

Representative/ Employee Name Phone No.

Signature

Date

Verification

Completed

Terminology used

MW474 11/19

To contact Macquarie, nancial advisers please call

1800 025 063.

Existing investors, where you have an adviser,

they should be your main point of contact for your

account, so if you have any queries about your

account, please talk to your nancial adviser.

Macquarie can also be contacted at Macquarie Wrap

GPO Box 4045 Sydney NSW 2001 or by visiting the

Macquarie Online at online.macquarie.com.au

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