Gamma is offering a Managed Discretionary Account (MDA) Service and is regulated by ASIC. It is exempt from the managed investment and product disclosure provisions of the Corporations Act. The Gamma Managed Accounts Service is not an interest in a registered Managed Investment Scheme.

Investment Administration Services Pty Limited (IAS) (ABN: 86 109 199 108, AFSL 248316) is the operator and custodian of the Managed Account Service. Gamma Asset Management Pty Ltd (ABN 83 150 762 182) (Gamma) is the investment manager for the Service. Gamma may appoint external investment managers to assist it to manage investments in the service. Gamma is a Corporate Authorised Representative of Gamma Wealth Group Pty Ltd (ABN: 56 134 682 330, AFSL 334040).

Assets held via a custodian is a very common practice. A custodian allows for the safety of the assets being held on behalf of the investor. As an example some of these may include shares, property trusts, managed funds, public offer and industry super funds. In addition to holding securities securely, custodians also offer a range of administration services including transaction, settlement of purchases, collection of dividends, interest payments and tax reporting.

The appointed sub-custodian is HSBC Bank Australia Limited (HSBC) (ABN 48006 434 162, AFSL 232595). In all cases assets held by HSBC for IAS/Gamma are kept separate from any assets belonging to HSBC.

As part the Service the investor is the beneficial owner of the assets even though the assets are held by HSBC in its capacity as sub-custodian, and cash holdings deposited with ANZ.

Cash holdings in each of your Portfolios and any cash held in the Cash Portfolio are deposited with Australian and New Zealand Banking Group (ANZ). IAS will not withdraw your money except where instructed by you including an authorization by you in accordance with the terms and conditions in the Managed Account Contract.

In addition, as per the custody agreement, no securities lending is permitted and could not incur without written agreement to do so.

Reconciliation of assets and cash (both holdings and transactions) occur daily between the holdings at HSBC and ANZ, and the internal records of the Gamma Managed Account Service (IAS Registry database). The reconciliation process forms part of the annual GS007 Management Controls Report which are externally audited. A copy of the latest audit verification letters and GS007 Management Controls are available upon request.

The management fees vary according the investment mandate outlined in the Investment Options document. For example: The Gamma Australian Equities Conviction Portfolio has a management expense ratio of 1.05% (Inclusive of GST) and the Gamma Conservative Income Portfolio has a management expense ratio of 0.4725% (Inclusive of GST). In some instances, performance fees may apply above benchmarks and subject to a high watermark. All costs are outlined in writing prior to engaging in the Service.

Gamma holds its own financial services license (AFSL 334040) which means we are not beholden to other larger financial institutions. We are genuinely free to pursue whatever is in our client’s best interests, and we pride ourselves in having long term relationships with our clients. Directors and key people are shareholders in the firm and the focus is on personalised client service.


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