Vasco Cash Enhanced Fund

Investments in the Fund are pooled with other Unitholders’ deposits and invested in a portfolio of bank deposits, term deposits, government securities and ASX listed floating rate notes or units in managed funds with similar investment restrictions.

When you invest in the Fund you are issued units at $1.00 each. Each unit represents an equal beneficial interest in the Fund (subject to unpaid accrued entitlements).

A unit entitles its holder to a proportionate share of the Fund’s income (net of fees and expenses). Your investment in the Fund is pooled with other Unitholders’ deposits and invested in a portfolio of bank deposits, term deposits and other short term fixed income securities that provide a relatively high level of security and liquidity. Investments may include units in managed funds with similar investment restrictions.

The Trustee may change the Fund’s range of investments and the level of investment in an asset class from time to time without notice. Currently, the Fund invests in:

• Cash Management Accounts;
• Short-term Term Deposits of 1-year duration or less;
• Macquarie Income Opportunities Fund;
• State Street Floating Rate Fund.

Distributions are calculated and accrued on a daily basis and are paid to all Unitholders monthly by way of direct credit or reinvestment in the Fund.

Generally, the income of the Fund consists of interest earned less fees and expenses of the Fund. In the unlikely event, accrued income is negative on redemption of Units, your redemption proceeds will be reduced by that amount.

To invest in the Fund simply deliver a correctly completed current Application Form together with your initial investment and appropriate identification documentation.

By completing the application form you agree to be bound by the terms and conditions, acknowledge that you have read the terms and conditions and information set out in the Information Memorandum and agree that we may not accept your application for units. 

All units are expected to be redeemed at a redemption price of $1.00.

Please note, however, that this is not a capital guarantee. The unit redemption price may fall below $1.00 in the event that there are losses on investments made by the Fund, or where accumulated fees and expenses exceed income over a particular distribution period.

Any redemption of funds from your account will be deemed to be a request to us to redeem that number of Units that will realise a sum equal to the amount of the redemption, subject to outstanding fees or charges, any income entitlement, and whether or not your balance will be reduced to nil or overdrawn.

That number of units will generally be deducted from your unit holding with effect from the day that Vasco is taken to process the redemption or transfer. You cannot make direct cash redemptions from the Fund. The total amount of your redemption proceeds may be adjusted downwards in the event that accrued income is negative.

Provided you have sufficient available balance, redemption proceeds will ordinarily be available within 3 Business Days provided your request is received by 11 am on a Business Day. Simply complete the Withdrawal Request Form available on the Trustee's website at www.vascofm.com. Withdrawals can be paid partially or in full, however, they can only be paid into your nominated bank account.

In the unlikely event that the Fund becomes illiquid, Unitholders will only be able to redeem Units if the Trustee makes an offer. If the Trustee does make an offer, Unitholders may only be able to redeem some of their units. There is no obligation for the Trustee to make such an offer.

This publication details the features, benefits, risks and general information about the Vasco Cash Enhanced Fund (Fund).

The trustee for the Fund is Vasco Custodians Pty Ltd ACN 644 232 539.

The Fund, at the date of this publication, is not required to be, and is not, registered as a managed investment scheme pursuant to section 601ED of the Corporations Act. This publication is not a product disclosure statement for the purposes of Part 7.9 of the Corporations Act.

The contents of this publication are not intended as financial product advice and have been prepared without taking into account your investment objectives, financial circumstances or particular needs. You should read the Information Memorandum (IM) for the Fund in full to consider whether an investment is appropriate for you. The IM for the Fund is available at www.vascofm.com.

Vasco Trustees only provides its services in respect of the Fund to wholesale investors, as defined in s761G of the Corporations Act.

Neither Vasco Trustees or any other party guarantees any income or capital return of the Fund. We strongly recommend that you seek your own professional financial and legal advice prior to any investment decisions.