MYNORTH INVESTMENT - INVESTOR DIRECTED PORTFOLIO SERVICE GUIDE - NORTH ONLINE
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MyNorth® Investment Investor directed portfolio service guide Issue Number 5, 23 January 2021 ® Registered trademark of NMMT Limted ABN 42 058 835 573 AFS Licence No. 234653 To be read in conjunction with MyNorth Investment Guarantee Product disclosure statement
MyNorth® Investment
Supplementary investor directed portfolio service guide
This is a supplementary investor directed portfolio service (SIDPS) guide to the MyNorth Investment Investor Directed Portfolio
Service Guide (IDPS Guide), issue number 5, dated 23 January 2021. This SIDPS guide should be read together with that document.
Page reference: 7
Title reference: At a glance
Instructions: Replace the Fees and costs table with the following:
Fees and costs (i)(ii)
Account fee $91 pa per MyNorth Investment account.
Except for accounts with a guarantee that commenced prior to
28 November 2020 where the account fee is waived.
Cash account investment fee 0.45% pa to be applied to the balance of your cash account.
Administration fee 0.00 % to 0.56% pa of your account balance, depending on your
total portfolio value and your choice of investment options. The
maximum administration fee (inclusive of account fee if
applicable) you can incur across all MyNorth Super, MyNorth
Pension and MyNorth Investment accounts held by you is $2,400
pa.
Brokerage fees The fees associated with purchasing or selling listed securities.
Charged at 0.11% of the total of each listed security purchase
or sale subject to a minimum of $34.
If you use a panel broker (third-party broker), a settlement fee
of $10.25 applies in addition to any brokerage fees. For a list of
approved panel brokers and their terms and conditions refer to
North Online.
In specie Transfer fee Not applicable for transfers in; and
$50 for each asset transferred out.
Underlying fees and costs for investment options These fees and costs apply to the investment options selected
by you and your financial adviser. You can find an up-to-date
list of the underlying investment option fees and costs reflecting
the underlying investment option’s PDS disclosure on North
Online or in the MyNorth investment options document. For
detailed information about the underlying fees and costs
associated with any particular investment option you should
refer to the relevant PDS for that investment option.
(i) All fees are inclusive of GST, less any reduced input tax credits (RITC) where relevant.
(ii) Refer to the fees and other costs section below for more information.
Issue date: 01 July 2021
® Registered trademark of NMMT Limited ABN 42 058 835 573.
This document is issued by NMMT Limited (NMMT) ABN 42 058 835 573, AFS Licence No. 234653, a member of the AMP group.
NMMT is the legal entity operating MyNorth Investment.Page reference: 14
Title reference: Earnings on your cash account
Instructions: Add the following sentence at the end of the section.
Please refer to North Online for the Cash account performance report.
Page reference: 18
Title reference: Asset transfers (in Specie)
Instructions: Replace the In specie in section with the following:
In specie in
Some assets you hold outside of your MyNorth Investment account may be transferred in specie into your account if certain
conditions are met, including:
– the assets must be available in the MyNorth investment options document, including listed securities.
– the other holder (fund manager or platform) allows in specie transfers out.
There is no in specie transfer fee for transferring assets into your account. Stamp duty may apply. For more information on the in
specie transfer fee, please refer to the fees and other costs section of the IDPS.
Page reference: 22
Title reference: Fees and other costs
Instructions: Replace the Fees and Costs table with the following:
MyNorth Investment
Type of fee or cost Amount How and when paid
Fees when your money moves in or out of your account
Establishment fee Nil Not applicable
The fee to open your
investment
Contribution fee(i) The fee Nil Not applicable
on each amount
contributed to your
investment
Withdrawal fee Nil Not applicable
The fee on each amount
you take out of your
investment
Exit fee Nil Not applicable
The fee to close your
investment
2MyNorth Investment
Management costs
The fees and costs for The administration fee is calculated by
Total portfolio Investment menu
managing your multiplying the proportion of your account
value(iii)
investment(ii) value in each investment menu by the
$
administration fee rate applicable to your
Core Select Choice total opening portfolio value on the day of
the fee deduction and is deducted from your
(% pa) (% pa) (% pa) cash account monthly from the date that
your account commenced.
0 to 149,999 0.00 0.20 0.56
150,000 to 0.00 0.20 0.40
249,999
250,000 to 0.00 0.20 0.28
399,999
400,000 to 0.00 0.20 0.23
599,999
600,000 to 0.00 0.20 0.21
749,999
750,000 plus 0.00 0.17 0.20
Plus 0.45% pa of the balance of your cash account. The cash account investment fee is deducted
from interest paid from the underlying
investments on a monthly basis prior to the
declaration of the crediting rate for the cash
account.
Plus $7.58 per month The account fee is deducted from your cash
account monthly from the date that your
account commenced.
Plus, if you have selected a Guarantee: The ongoing guarantee fee is calculated and
deducted from your cash account monthly
1.25% to 1.95% pa ongoing, depending on the term
commencing one month from when the
and optional features you select.(iv)
guarantee commenced.
It's based on the opening protected balance
on the day the fee is applied.
Service fees(v)
Brokerage fee 0.11% of the total of each listed security purchase or Brokerage fees are deducted from your cash
The fee for buying or selling sale subject to a minimum fee of $34. If you use a account at the time the trade is settled or, if
panel broker, the brokerage fees are negotiated and you use a panel broker, the day your broker
listed securities
a settlement fee of $10.25 applies. sends us your trade information.
Switching fee Nil. However, underlying buy/sell costs(vi) may apply. Not applicable.
The fee for changing
investment options
Telegraphic transfer fee $9 per withdrawal if you have requested a telegraphic The telegraphic transfer fee is deducted from
transfer. your cash account at the time of the
withdrawal.
In specie transfer fee Not applicable for asset transfers in; and $50 for each In specie transfer fees are deducted from your
asset for in specie transfers out. cash account at the time of the transfer.
Stamp duty may also apply.
(i) You may agree to pay client advice fees to your financial adviser for financial advice. Refer to client advice fees section within the fees and
other costs section for further details.
(ii) Underlying management costs may also apply. Refer to 'underlying fees and costs of investment options' section for more information.
(iii) Total portfolio value includes all accounts held by you in MyNorth Super and Pension and MyNorth Investment as well as North Personal
Super and Pension and North Investment. Refer to benefit from multiple accounts for further detail.
(iv) Refer to the MyNorth Investment Guarantee PDS for further information.
(v) Other service fees, such as client advice fees may also apply. Refer to 'other service fees' section within the fees and other costs section for
more information.
(vi) Refer to 'underlying fees and costs of investment options' within the fees and costs section for more information.
3Page reference: 23
Title reference: Additional explanation of fees and costs
Instructions: Replace the Account fee and administration fee section with the following:
Account fee and administration fee
The account fee, together with the administration fee, covers the costs associated with the establishment and administration of
your MyNorth account, including any distribution costs and other fees and expenses paid to related parties and service providers.
The administration fee is calculated according to the fees and costs table in this Supplementary IDPS guide. The total administration
fees, including the account fee, charged on your account will not exceed $2,400 pa.
These fees are generally not negotiable by you. From time to time, these fees may be negotiated by your financial adviser. The
nature of these variations is dependent on the arrangement between us and your adviser. As a result, we may vary your fees by
rebating part of the administration fee charged by us, these rebates will be paid to your cash account once or on a monthly basis,
depending on the nature of the rebate.
Alternatively, we may choose to provide you with a reduced administration fee rate applicable to your investments. The administration
fee deducted monthly will be determined based on these rates.
We may cease these arrangements at our discretion. In the event any such arrangements are ceased, your fees will revert to the
rates disclosed in the fees and other costs section of this IDPS Guide.
Page reference: 23
Title reference: Additional explanation of fees and costs
Instructions: Replace the Individual fee aggregation section with the following:
Individual Fee Aggregation
We automatically combine the notional balances of up to six of your MyNorth accounts to determine the administration feee rate.
The account types include MyNorth Super, MyNorth Pension and MyNorth Investment, North Personal Super, North Personal
Pension and North Investment accounts. The total administration fees (inclusive of account fee if applicable) charged across an
individual's MyNorth accounts will not exceed $2,400 pa.
Page reference: 23
Title reference: Additional explanation of fees and costs
Instructions: Replace the Family Fee Capping section with the following:
Family Fee Capping
The total administration fees (inclusive of account fee if applicable) charged across a family group's MyNorth accounts will not
exceed $3,300 pa.
Page reference: 23
Title reference: Other service fees
Instructions: Replace the In specie transfer fees section with the following:
In specie transfer fees
There is no in specie transfer fee for transferring assets into your account. When transferring assets out of your account, in specie
transfer fees will apply and are an additional cost to you.
For in specie out, a transfer fee of $50 per asset applies to each managed fund or listed security you request to transfer out. This
fee will be deducted from your cash account at the time the units being transferred are removed from your account. If there are
insufficient funds in your cash account some of the assets may be sold to fund these costs.
4Contact us
phone 1800 667 841
web northonline.com.au
email north@amp.com.au
mail North Service Centre
GPO Box 2915
MELBOURNE VIC 3001
26826 07/21Important information about MyNorth Investment
This Investor directed portfolio service guide (IDPS Guide) is Changes to this IDPS Guide
issued by NMMT Limited (NMMT) Australian Business Number Information in this IDPS Guide may change from time to time.
(ABN) 42 058 835 573, Australian Financial Service licence If the change is not significant or material it may be updated on:
number (AFS License No.) 234653, a member of the AMP group.
NMMT is the legal entity operating MyNorth Investment. – northonline.com.au/mynorth
How your IDPS guide works You can print the IDPS Guide from this website or obtain a free
copy by contacting your financial adviser or the North Service
This IDPS Guide is an important document which explains Centre on 1800 667 841.
how MyNorth Investment works. You should obtain and read an
If we make an increase to fees (other than by indexation) we will
up-to-date copy of this IDPS Guide together with the MyNorth
give you written notice at least 30 days prior.
Investment Guarantee Product Disclosure Statement
(PDS), before you make a decision to invest through MyNorth Selecting investment options
Investment. You can access the latest version of this IDPS
Guide and MyNorth Investment Guarantee PDS free of charge Before you make a decision to invest in the investment options
via North Online, contacting your financial adviser or contacting offered through MyNorth Investment, you should read
the North Service Centre at north@amp.com.au or on 1800 667 the relevant disclosure documents for your chosen investments
841. (where applicable). Your financial adviser has access to the
up-to-date versions of the PDS.
If you have received this document electronically, you can also
request a free paper copy. No interests through MyNorth The investment options offered through MyNorth Investment
Investment will be issued on the basis of this document when are subject to investment risk, including possible delays in
it is no longer current. repayment, loss of income and capital invested. Apart from a
benefit arising out of a guarantee issued by National Mutual
AMP Life Limited (AMP Life) ABN 84 079 300 379 AFS License No. Funds Management Limited (NMFM) ABN 32 006 787 720 AFS
233671 is the issuer of AMP Elevate Insurance, which is made Licence No. 234652 and supported by an undertaking from AMP
available through MyNorth Investment. Group Holdings Limited ABN 88 079 804 676, neither NMMT,
NMMT and NMFM are wholly owned subsidiaries of AMP nor any other member of the AMP group or the investment
Limited. managers or fund managers, stands behind or guarantees the
repayment of capital, the payment of income or the performance
NMMT, acting in a separate capacity to that of MyNorth of the investment options.
Investment operator, is also the responsible entity of MyNorth
Managed Portfolios ARSN 624 544 136, a registered managed Apart from the interest investors may hold or have held through
investment scheme that is an accessible investment through their cash account, an investment acquired using MyNorth
MyNorth Investment. Investment is not a deposit or liability with the AMP Bank Limited
(ABN 15 081 596 009, AFSL 234517) (AMP Bank), any other
The information contained in this IDPS Guide is general member of the AMP group or any of the investment managers.
information only and does not take into account your individual NMMT is not a bank and AMP Bank does not guarantee or
objectives, financial situation or needs. Before acting on the otherwise provide assurance in respect of the obligations of
information in this IDPS Guide, you should consider the NMMT.
appropriateness of this information regarding your individual
objectives, financial situation or needs, and should consult a
financial adviser prior to investing through MyNorth Investment.
This document should not be construed as an offer to invest
in MyNorth Investment in any jurisdiction other than Australia,
and is not available to anyone receiving this IDPS Guide outside
of Australia. No company in the AMP group supports or
guarantees the obligations of NMMT and no other company in
the AMP group is responsible for any statements or information
contained in this IDPS Guide.
We reserve the right to change the terms and conditions in this
IDPS Guide subject to regulatory requirements.
We may accept or refuse (without reason) any application
in MyNorth Investment.
3Throughout this IDPS Guide
References to: To be read as: References to: To be read as:
AMP AMP Limited (ABN 49 079 354 519) and its Portfolio Your investments held through MyNorth IDPS
subsidiaries, including NMMT Limited (ABN 42
058 835 573 AFS License No. 234653) Public holiday A day other than a weekend on which financial
institutions in Melbourne are generally closed for
AMP Life AMP Life Limited- issuer of AMP Elevate normal trading
insurance
Scheme Your interest and asset holdings in MyNorth
Anniversary year A 12-month period commencing on the day portfolio Managed Portfolios that is managed in line with a
your account is opened and each corresponding managed portfolio you have selected. A separate
12-month period thereafter interest and Scheme Portfolio is held in respect of
each managed portfolio in relation to which you
Business day A day other than a Saturday, Sunday or national choose to invest
public holiday
Custodian and NMMT Limited ABN 42 058 835 573 AFS License
Read all relevant documents
Operator No. 234653 – member of the AMP Group Visit northonline.com.au/mynorth to download a copy of the
following documents. Alternatively, a printed copy can be
Guarantee MyNorth Investment Guarantee (also referred
obtained free of charge by contacting the North Service Centre
to as the MyNorth Guarantee in this IDPS Guide)
at north@amp.com.au or on 1800 667 841.
is an investment feature available to clients of
MyNorth Investment and is described in the MyNorth Investment Guarantee PDS
MyNorth Investment Guarantee PDS
Provides specific information regarding MyNorth’s Guarantee
Investor, you A client of MyNorth Investment options.
Managed portfolio A notional portfolio of assets managed in MyNorth Managed Portfolios PDS
accordance with a particular investment
Provides specific information regarding MyNorth Managed
strategy, as described in the MyNorth Managed
Portfolios and the available managed portfolios.
Portfolios PDS
MyNorth Investment Options
MyNorth MyNorth Investment Investor Directed Portfolio
IDPS/MyNorth Service operated by NMMT Provides a list of investment options available through MyNorth
Investment Investment.
MyNorth MyNorth Investment Guarantee Product You can obtain the underlying investment options' PDS for free
Investment Disclosure Statement issued by NMFM by:
Guarantee PDS
– visiting North Online
MyNorth A list of investment options available through – contacting the North Service Centre on 1800 667 841, or
Investment Options MyNorth IDPS – visiting the fund manager's website.
MyNorth Managed The product disclosure statement for MyNorth Also consider
Portfolios PDS Managed Portfolios ARSN 624 544 136, a
registered managed investment scheme of AMP Elevate Insurance PDS
which NMMT Limited is the responsible entity, Explains the insurance benefits available on AMP Elevate
and which is an accessible investment available
insurance including:
through MyNorth Investment. The MyNorth
Managed Portfolio PDS is issued by NMMT – Life Insurance
Limited – Additional optional insurance benefits (including Total and
NMMT, we, our, us NMMT Limited (the operator of this IDPS)
Permanent Disability (TPD))
– Income Insurance, and
North, North Online northonline.com.au – Trauma Insurance.
4Contents
At a glance 6
Welcome to MyNorth Investment 9
MyNorth Investment 11
The cash account 13
Investing in MyNorth Investment 15
What risks apply to investing? 20
Fees and other costs 21
Insurance through MyNorth Investment 29
How your benefit will be paid upon death 30
Further information you need to know 31
Obtaining our financial services guide 35
5At a glance
Minimum transactions
Minimum initial investment $2,000(i)
Minimum additional investment No minimum(i)
Minimum regular savings plan $10 per fortnight, month, quarter, half-year, yearly
Minimum account balance $2,000
Minimum ad hoc withdrawal No minimum
Minimum switch $100(ii)
Minimum rebalance $1,000(ii)
Minimum cash account sweep Automatic buy: $500(ii)
Automatic sell: $100(ii)
(i) A minimum initial guaranteed investment amount and a minimum protected balance of $20 thousand applies to guarantee investment options. A maximum
investment of $10 million applies to MyNorth IDPS accounts and a maximum Protected balance of $2 million across all of your MyNorth Super, Pension and Investment
accounts applies when investing in MyNorth Guarantees. Amounts higher than the maximums will be considered. Your financial adviser can assist in requesting
this approval.
(ii) These transactions are subject to a trade minimum of $650 per listed security held.
Product features
Regular savings plan Additional investments can be made to your investment account via direct debit from your bank account
fortnightly, monthly, quarterly, half-yearly or yearly.
Regular withdrawal plan Paid directly to your bank account fortnightly, monthly, quarterly, half-yearly or yearly—the minimum ongoing
amount is $250 per payment.
Cash account A flexible working cash account that allows you to specify the minimum and target amount to be held in your
cash account.
Income Income distributions, dividends and interest for each investment option where applicable will be credited to
your cash account or paid via the cash account to your bank account. Exceptions may apply. A dividend
reinvestment plan (where available) may be nominated for listed securities. Refer to income within the investing
in MyNorth investment section of this IDPS Guide for more details.
Investment switching You can switch all or part of your portfolio between the full range of investment options available at any time.
There is no limit on the number of switches you can make each year. For MyNorth Guarantees, switching
restrictions may apply, please refer to your MyNorth Investment Guarantee PDS for further information.
Investment instructions You can arrange automatic buying and selling of investment options via your cash account. You can also specify
instructions to rebalance your investments. Accounts with a guarantee will have investment options sold in
proportion to your account balance.
BPAY®, EFT and ad hoc direct debit Additional investments can be made to your investment account using direct debit via North Online. You can
also use an EFT or BPAY facility provided by your bank.
Dollar cost averaging Allows you to invest a set dollar amount into the market at regular intervals.
Fast payment We may advance payment of partial withdrawals up to 80% of your account value without awaiting sale proceeds
from the investment options. Restrictions may apply.
® Registered to BPAY Pty Ltd ABN 69 079 137 518
6Investment options
MyNorth Investment with a Guarantee
Investment options MyNorth offers you the option to choose your investments from the following three A subset of
investment menus: managed funds.
1. Core menu – offers a range of active and index funds.
2. Select menu – offers a range of diversified multi-manager investment options
offering access to specialist fund managers in each asset class, access to term
deposits and a selected range of managed portfolios.
3. Choice menu – offers an extensive list of multi-manager and single manager funds,
managed portfolios, listed securities on the ASX and selected Australian real estate
investment trusts (AREITs), exchange traded funds (ETFs) and exchange traded
commodities (ETCs), listed investment companies (LICs) and listed investment trusts
(LITs).
Refer to the MyNorth investment options document for full details, which can be obtained
from your financial adviser, northonline.com.au/mynorth or you can obtain a free copy
by contacting the North Service Centre on 1800 667 841.
Insurance
Available cover – Life Insurance
– Total and permanent disability (TPD) insurance
– Income Insurance, and
– Trauma Insurance.
Note: The insurance options are issued by AMP Life via a separate PDS. Your AMP Elevate insurance PDS should be considered when deciding whether
to acquire that product. The current provider's AMP Elevate insurance PDS is available from your financial adviser, northonline.com.au/mynorth or
by contacting the North Service Centre on 1800 667 841.
Fees and costs(i)(ii)
Account fee $91 pa and $0 for MyNorth Investment accounts with a guarantee that commenced prior to 28 November
2020.
Cash account investment fee 0.45% pa to be applied to the balance of your cash account.
Administration fee 0.00% to 0.56% pa of your account balance, depending on your total portfolio value and your choice of investment
options. The maximum administration fee (inclusive of account fee if applicable) you can incur across all
MyNorth Super, MyNorth Pension and MyNorth Investment accounts held by you is $2,800 pa.
Brokerage fees The fees associated with purchasing or selling listed securities.
Charged at 0.11% of the total of each listed security purchase or sale subject to a minimum fee of $34.
If you use a panel broker (third-party broker), a settlement fee of $10.25 applies in addition to any brokerage
fees. For a list of approved panel brokers and their terms and conditions refer to North Online.
In specie Transfer fee $25.63 per listed security, ETF, ETC or AREIT for transfers in; and
$100 for each asset transferred out.
Underlying fees and costs for These fees and costs apply to the investment options selected by you and your financial adviser. You can find
investment options an up-to-date list of the underlying investment option fees and costs reflecting the underlying investment
option's PDS disclosure on North Online or in the MyNorth investment options document. For detailed
information about the underlying fees and costs associated with any particular investment option you
should refer to the relevant PDS for that investment option.
(i) All fees are inclusive of GST, less any reduced input tax credits (RITC) where relevant.
(ii) Refer to the fees and other costs section below for more information.
7Client advice fees(i)(ii)
Fees you can agree to pay your financial adviser for financial advice provided to you
Client advice fee – initial A fee paid from your account to your financial adviser for initial financial advice.
This may include initial, plan preparation and research and advice
implementation.
Client advice fee – ad hoc A fee paid from your account to your financial adviser for additional financial Up to $5,125 pa plus 2.51%pa
advice. subject to your portfolio
balance.
Client advice fee – ongoing An ongoing fee paid from your account to your financial adviser for ongoing
financial advice.
Client advice fee – listed An ongoing dollar or percentage-based fee paid from your account to your
financial adviser for financial advice for trading listed securities.
securities
Client advice fee – contributions A fee paid from your account to your financial adviser for financial advice on Up to 4.10% of each
initial and/or future investments. investment.
(i) All fees are inclusive of GST, less any reduced input tax credits (RITC) where relevant.
(ii) Refer to client advice fees within the fees and other costs section below for more information.
Reporting
Online access All communications are issued via North Online and can be accessed through the online Statements &
Correspondence section or communicated via 'News & announcements'.
Annual statement An annual statement will be available on North Online and will also be mailed to you each year. It will detail
your account balance, include a statement of transactions, and an account performance summary.
Annual tax statement An annual tax statement will be available via North Online to assist with the completion of your annual tax
return.
Annual audit report An annual report will be available via North Online that includes information on the management and financial
position of MyNorth Investment from 30 September.
Client review report A Client review report will be available online detailing your portfolio balance, asset allocation, transaction
summary and insurance details.
8Welcome to MyNorth Investment
MyNorth Investment is an Investor directed portfolio service Transacting on your account
(IDPS), or more commonly known as a wrap service. This means Financial adviser access
your transactional, custodial and reporting services are contained
within a single administration platform on North Online. Transactions on your MyNorth Investment account are
completed by your financial adviser using North Online.
MyNorth Investment offers solutions for your savings, trust,
company and self-managed super fund needs. You can also Your financial adviser should obtain your authorisation (consent)
attach insurance to your account to provide you with life, TPD, for each transaction they perform on your account. This
trauma and income insurance cover. authorisation will be obtained by your financial adviser during
the advice process and is retained by them as evidence that you
With a huge range of investments to choose from, you can put have authorised each transaction they perform. We'll act upon
your portfolio together with your financial adviser to help you any instruction (except changes to bank account details) received
realise your goals. from your financial adviser in relation to your account.
MyNorth Guarantee Changes to bank account details are excluded for security
MyNorth Investment is also available with a range of guarantees. purposes.
Our guarantees can protect and grow your retirement savings. Your financial adviser can use North Online to:
You can read more about these guarantees in MyNorth
Investment Guarantee PDS. – open new accounts on your behalf
– add additional or new investments
Bringing your strategy to life – switch investments
Together with your financial adviser, you'll agree on a financial – complete transfers
strategy to achieve your retirement goals. MyNorth Investment – submit withdrawal requests
seeks to bring that strategy to life by providing a single access – trade shares
point for a range of investment options across major asset – produce ad hoc reports to monitor the performance of your
classes. account, and
Your account on North Online – view communications and statements online.
Your MyNorth account is operated through North Online Any transactions made on your account will be confirmed to you
at northonline.com.au. through North Online.
North Online allows you and your financial adviser to review, In certain circumstances you may enter into an arrangement
transact and report on your MyNorth account. with your financial adviser allowing them to transact on your
account on your behalf without the need for each transaction
You can log onto North Online at any time to see how your to be authorised by you. This is known as a Managed
investments are performing and make a range of transactions. Discretionary Account (MDA). To offer an MDA arrangement
All communications from us will be sent to you via North Online your financial adviser must be appropriately licensed to operate
and available to view in the Statements & Correspondence an MDA. For further information about how to set up an MDA,
section, or communicated via ‘News & announcements’. Your please contact your financial adviser.
annual statement will be sent to you via post. Investor access
MyNorth is an online product so it's important that you have You can log on to North Online at any time to see how your
internet access to use the services offered and receive investments are performing.
information about your accounts.
You can use North Online to:
You will require internet access to use and maintain your
account. – view your account details and transactions
– view your communications via the Statements &
Once you become a member of MyNorth Investment, you will
Correspondence section
receive a welcome letter or email with your user ID which can
be used to access North Online. You'll also receive a separate – monitor the performance of your investments
letter or email with your temporary password. The first time you – check the progress of your transactions, and
log in to North Online you will be required to accept the terms – update your personal details (including banking details).
and conditions and change your password. North Online also provides the option for your financial adviser
to change your North Online access to allow you to complete a
broader range of transactions. You should discuss this option
with your financial adviser.
9My AMP Keeping track of your investments
In addition to accessing your account on North Online, you can Annual statement
view your AMP consolidated details at My AMP.
At the end of each financial year, we'll send you an annual
My AMP gives you fast, easy and secure online access to your statement via the statements & correspondence section in North
banking, super, insurance and investments. Keep an eye on your Online, which will include:
account and review your AMP investments whenever you want
and generate a Portfolio Report from the commencement of – your account balance as at 30 June
your MyNorth Investment account. You can also include any – a statement of transactions, and
external accounts and assets for reporting purposes. – an account performance summary.
Register for your online account at amp.com.au. Annual tax report
The AMP app Once each financial year has come to an end and all income
distributions and their associated tax details have been received,
It’s the first app in Australia where you can access your banking, we'll provide a report that shows your tax information for the
insurance, investments and super accounts—all from one place. year to help you to complete your tax return. This report will be
The AMP app helps you get things done, like accessing your AMP made available to you through the statements &
Bank accounts to make payments or getting help to start correspondence section in North Online.
consolidating your super. This report is also sent to the Australian Taxation Office (ATO)
Get started in three easy steps: by the end of October each year.
1. Have your MyAMP (super/insurance/investments) login Annual audit report
details handy. We'll send you an annual audit report via the statements &
2. Download the app from the Apple App Store or Google Play. correspondence section in North Online, with information current
3. Follow the setup instructions and you’re good to go. as at 30 June of that year.
Available from the Apple1 App Store and Google Play2. Client review report
You can run and download a client review report (a
comprehensive summary report on your account) from North
Online at any time.
1 Apple is a trademark of Apple Inc.
2 Google Play is a trademark of Google Inc.
10MyNorth Investment
How to make an investment Starting a regular savings plan
You can make an investment into your MyNorth Investment A regular savings plan is an easy and convenient way to build
account at any time on North Online by direct debit. your investments.
Alternatively you can use your bank's online banking facilities to You can select from a fortnightly, monthly, quarterly, half-yearly
EFT or BPAY your investment. or yearly frequency, through direct debit for your contribution,
and the minimum amount per investment for all frequencies is
You can also make your initial or additional investments by
$10.
cheque. All cheques should be attached to a deposit advice
created on North Online and made out to ‘North’. You will need to nominate the date on which amounts are
withdrawn from your nominated bank account, between the
Forward the cheque along with the deposit advice to:
1st and 28th of the month or the last day of the month. Regular
North Service Centre savings plan investments will generally be receipted into your
GPO Box 2915 cash account that day.
MELBOURNE VIC 3001
If a regular savings plan payment falls on a weekend or
For assistance, visit North Online or contact the North Service Melbourne public holiday, we'll initiate the payment on the
Centre on 1800 667 841. following business day.
How to use EFT and BPAY through your banking facilities Regular savings plan investments will continue until we receive
any changes or a cancellation of the facility. You can make any
EFT BPAY changes or cancel your regular savings plan at any time via North
Online.
1. Log onto your online 1. Log onto your online Each time you make additional investments it is important you
banking facility banking facility
have the most recent PDS for your investment options and are
2. Enter account name 2. Enter BPAY biller code –
aware of materially adverse changes or significant events relating
(Investor first name and 38778
to the investment options you have selected.
surname) 3. Enter BPAY reference
3. Enter BSB number – 033 number – this is your 8 If you have a regular savings plan you should be aware that
806 digit MyNorth account accessible investments may be acquired for you through your
4. Enter bank account number (Note: do not MyNorth Investment account without you having been given
number – this is your 8 include the Y) the current PDS for the selected investment option(s).
digit MyNorth account Plus 7
number (Note: do not You can access the most up-to-date PDS provided to us by the
include the Y) relevant fund manager for the investment options you have
Plus 7 selected by accessing North Online
at northonline.com.au/mynorth.
Example Example
Automatically increasing your regular savings plan
An investment for John Smith An investment for John Smith
Over time, inflation reduces the real value of your investments.
BSB: 033 806 BIller code: 38778
Account number: 123456787 BPay reference: 123456787 To help you keep pace with inflation you can choose to have your
regular savings plan amount automatically increased, or indexed,
Note: Any investments processed via North Online will provide an each year.
account number or BPAY reference number with the final digit of
9. You can choose from two methods:
– a fixed percentage (up to 7% per annum)—applied on your
account anniversary each year, or
– CPI—applied on your account anniversary each year using
the most recently published CPI figure.
You may change or cancel this facility at any time via North
Online.
11Margin lending Fast payment
Margin lending involves borrowing money to increase your The fast payment of funds is available for partial withdrawals
investment. As a MyNorth IDPS investor you may be able to apply only, up to a maximum of 80% of your account balance. We
for a margin loan through a number of margin lenders. reserve the right to reduce the percentage. We will aim to
automatically advance the payment of your funds without
If you’ve agreed to a margin loan with your lender, some
awaiting sale proceeds from underlying investments.
restrictions may apply to your MyNorth Investment account,
including making withdrawals or switching investment options. If you are requesting a full cash withdrawal, you can request for
Please speak to your margin lender directly for information on a Fast Track withdrawal by contacting us. This will enable you
these restrictions or to make a withdrawal. to receive 80% of your funds within two business days of your
request being completed (including all requirements) by the
Increasing your investments through borrowing has the potential
North Service Centre. The remainder of the funds will be released
to increase your investment returns, but it can also increase your
after all other assets have been sold and the proceeds have been
risk. Therefore it’s important to seek the advice of a financial
confirmed to cash.
adviser before borrowing to invest.
During this period your cash account balance may fall below
Withdrawals zero. Refer to negative cash account balance within the the cash
Withdrawals (partial and full) can be made at any time. You can account section for more information on the effect of your cash
make a partial withdrawal from your MyNorth Investment account balance becoming negative.
(subject to trade minimums as defined in the At a glance section Telegraphic Transfer
of this IDPS guide), provided you maintain an account value of
at least $2,000. A Telegraphic Transfer (TT) is a fast electronic transfer to a
nominated bank account where the funds may be cleared in the
When you withdraw your funds, we'll ask you to supply copies recipient’s bank account within two hours of the payment being
of certain proof of identity documents, for example a copy of made. All overseas bank transfers are completed by TT. A $9
your driver’s licence or passport. charge applies per TT. The receiving bank may also charge an
You can select from which individual investment options you additional fee for this facility.
wish to sell down from or alternatively you can select to sell
Regular withdrawals
down your investment options according to your automatic sell
instructions. Where you have not provided us with sell You can choose to receive a regular withdrawal fortnightly,
instructions, we will sell your investments proportionately. monthly, quarterly, half-yearly or yearly.
Withdrawals from your account are normally processed within Whichever frequency you choose, you will need to nominate the
30 days of us receiving all of the necessary information. Some date you wish to receive your payment as any day of the month
investments have redemption restrictions imposed by the between the 1st and the 28th or the last day of the month.
underlying fund manager that prevent us from paying the full If your regular payment date does not fall on a business day, we
benefit within this period. will make that payment on the preceding business day.
However, time frames may vary depending on the time taken Where you have selected to receive income distributions as part
by fund managers to complete processing of sale transactions. of your regular withdrawals plan, you will receive distributions
A withdrawal may also be delayed if an existing buy or sell from managed funds and the cash account that have
instruction has not been confirmed. Refer to the underlying accumulated since your last regular payment.
investment options' PDS for further information relating to
withdrawal conditions associated with the underlying Automatically increasing your regular withdrawal
investment options. Over time, the purchasing power of your money is reduced by
If you nominate to sell part of your holdings in any managed inflation.
investment fund or listed security (via a partial withdrawal or To help keep pace with inflation you can choose to automatically
as part of a sell instruction) and the withdrawal amount exceeds index your regular withdrawal payment amount each year.
90% of the current asset value, the sale will be converted from
a dollar-based to a unit-based sale using the latest market unit You can choose from two methods:
price held at the time of sale. This may result in a different – a fixed percentage (up to 7% per annum)—applied on 1
withdrawal amount from your original request due to variations July, or
in unit prices. Withdrawal periods vary between fund managers
– CPI—applied on 1 July each year using the most recently
and can be found in the underlying investment options' PDS.
published CPI figure.
For example, if you held 1,000 units in an investment option
You may change or cancel this facility at any time via North
valued at $2 per unit (1,000 units x $2 = $2,000) and you
Online.
nominated to sell $1,900, we would automatically convert the
sale to a unit based sale of 950 units (950 units x $2 = $1,900).
Withdrawal payments will be made by direct credit to a bank
account held in your name that you nominate.
12The cash account
Your cash account The diagram below illustrates how this works;
The MyNorth Investment account uses a cash account that
operates as a hub through which all of your transactions will
pass. Your investments, withdrawals and transfers (unless these
are transferred in specie) will be made via your cash account.
The cash account is used for essential functions, some of which
are below.
Specifying your Minimum cash balance
Your Minimum cash balance is a specific dollar amount and can
be adjusted at any time, a default of $0 will apply where no
Managing your cash account balance selection is made.
Your cash account balance may fluctuate as funds flow into and Specifying your Target cash balance
out of your account. To help you automatically manage your
cash balance, you have the flexibility of specifying a Minimum Your Target cash balance can be set as;
and a Target (or maximum) cash balance to create your cash – a specified dollar amount or
range. While your cash balance remains within the cash range – a percentage of your total account balance which will be
we will not take any action, if your cash balance goes outside of calculated as follows;
this range the following will occur;
Target cash balance = (Account balance X Target cash percentage)
– If your balance goes above the target1 then we will use the + Minimum cash balance.
excess cash to automatically buy investments based on
Where no selection is made, a default Target cash balance of 5% X
your automatic buy instructions. Refer to Automatic buy
Account balance plus the Minimum will apply. Your Target cash
instructions section under the Investment options section
balance can be adjusted at any time.
of the IDPS guide.
– If your balance goes below the minimum1 then we’ll sell
your investments based on your automatic sell instructions
and top your cash balance back up to the target.2 Refer
to Automatic sell instructions section under the Investment
options section of the IDPS guide.
1 Transaction trade minimums must be met for automatic buy and sells to occur as per at glance section.
2 In the event that your account balance is below your specified dollar target, we will not be able to top up your cash to the full target amount.
13Cash account sweeps portfolios where such amounts are not reinvested into your
Scheme Portfolio – see Part 2 of the MyNorth Managed
When we will buy Portfolio PDS – Managed portfolio menu for details);
When the balance of your cash account exceeds your Target cash – pay any fees, expenses, taxes and or charges in relation to
balance by $500, the excess cash will be invested as per your your investment in MyNorth Managed Portfolios.
investment instructions. In order for the cash account sweep to You provide us with standing instructions (which you agree not
take place, the excess cash must meet the transaction trade to vary) to facilitate your investment in MyNorth Managed
minimums as defined in the At a glance section of this IDPS Portfolios and use your cash account in this way. The standing
Guide. instructions you give to us are set out in the MyNorth Platform
When we will sell account details – authorisation form that you complete.
If the balance of your cash account falls below your Minimum Refer to the MyNorth Managed Portfolios PDS for further
cash balance, we will sell your assets as per your investment information about the use of your cash account when an interest
instructions to bring your cash account back to your Target cash in MyNorth Managed Portfolios is held for you through MyNorth
balance. In order for the cash account sweep to take place, Investment.
transaction trade minimums must be met. Where you have not Negative cash account balance
provided us with adequate investment instructions we will sell
your managed funds proportionately. Should your cash account balance become negative at any time,
interest will be charged on the negative amount at the same
Where you hold listed securities, the sweep must result in a trade rate as the interest paid on positive cash account balances.
amount of at least your specified shares trade minimum, per
listed security, for the sweep to occur. The default shares trade Events that may cause your cash account balance to become
minimum is $650 per listed security. Where this minimum is not negative include payments such as taxes, fees, insurance
met, we will not sell your assets and your cash account balance premiums, withdrawals or if you are switching between
will remain below your Minimum cash balance. investment options.
Term deposits will not be sold to bring your cash account balance When your cash account balance goes into negative, we will sell
back to your Target cash balance. your investments as per your automatic sell instructions to bring
your cash account balance back to your Target cash balance.
Earnings on your cash account Where you haven't provided us with automatic sell instructions,
Funds held in your cash account are pooled with the cash balance we will sell your investments proportionately. However, if you
of other investors and will be invested in: only hold illiquid investment options,guaranteed investments,
listed securities and/or term deposits, these assets won't be sold
– a trading bank account with Westpac Banking Corporation, down proportionately and your cash account will remain
and negative.
– a trading bank account with AMP Bank Limited.
For more information please refer to Automatic sell instructions
We reserve the right to change or to alter the investment strategy the Investing in MyNorth Investment section.
of the cash account at any time without prior notice.
When your money will be invested
Any balance held in your cash account will accrue interest
calculated daily. Interest accrued will be allocated to the cash Your investment will generally be credited to your cash account
account, effective the first day following the end of each month on the business day it is received. Any balance held in your cash
or, if you close your account before the end of a month, prior to account will accrue interest at the current cash account crediting
payment being made. rate on the daily balance from that date until your funds are
invested according to your investment instructions.
Your cash account and MyNorth Managed Portfolios
Your investment instructions are forwarded to the underlying
Generally, your cash account will be used for the purposes of fund manager, term deposit provider and Australian Securities
settling all transactions in relation to your Scheme Portfolio(s), Exchange (ASX) on a daily basis. The effective date of your
including: investment will be the date applied by each individual fund
manager or term deposit provider. Ad hoc instructions to trade
– settling transactions relating to the assets held as part of
listed securities will normally be forwarded to the ASX when
your Scheme Portfolio when it is rebalanced. This includes:
they are received.
– receiving net proceeds from a disposal of assets
(disposal proceeds), and reinvesting those amounts
to acquire other assets as part of your Scheme
Portfolio; and
– making additional investments in circumstances
where a rebalance involves a disposal of certain assets
and a corresponding acquisition of substitute assets
at the same time, and market movements result in
the proceeds from the asset disposal being less than
the costs of the asset acquisition (the amount of the
additional investment from your cash account in these
circumstances will be equal to the difference between
the relevant disposal proceeds and acquisition costs);
– receiving income from underlying assets, and reinvesting
these amounts (except in relation to those managed
14Investing in MyNorth Investment
Investment options Investment instructions
MyNorth Investment offers you a wide range of investment When your financial adviser completes your application to
options to choose from, including low-cost active and index open MyNorth Investment account, you are required to provide
funds, to an extensive list of managed funds, managed portfolios, your automatic buy instructions. You can also arrange to provide
term deposits and direct shares. As an investor you will have the ongoing investment instructions, including:
option to choose your investments from the following three
– automatic buy instructions
investment menus:
– automatic sell instructions
– Core menu – offers MyNorth Retirement Fund, MyNorth – rebalance profile, and
Dynamic Balanced Fund and a range of MyNorth Index – dollar cost averaging.
options
Restrictions may apply to the investment options chosen. Refer
– Select menu – offers a range of diversified multi-manager
to Removing or closing investment options within the Investing
investment options, goals based and single sector options,
in MyNorth Investment section in this IDPS guide for more
access to specialist fund managers in each asset class and
information.
access to cash options like term deposits, and a selected
range of managed portfolios Automatic buy instructions
– Choice menu – offers an extensive list of multi-manager Investments that take your cash account balance above your
and single manager funds, managed portfolios, listed Target cash balance will be invested according to your automatic
securities on the ASX and selected Australian real estate buy instructions.
investment trusts (AREITs), exchange traded funds (ETFs)
and exchange traded commodities (ETCs), listed investment You can nominate the following options for your automatic buy
companies (LICs) and listed investment trusts (LITs). instructions:
Eligible investment selection process – Invest as per buy profile
– Invest as per buy profile (excluding listed securities)
The investment options are subject to ongoing review and due
– Leave excess funds in cash
diligence, overseen by an investment committee. This is
performed against a number of investment and client related Your automatic buy profile can include managed funds, managed
criteria as well as risk considerations. These are aimed at portfolios and listed securities and must be specified as
assessing the ongoing suitability of the option for clients, and percentages.
include but are not limited to factors relating to the fund If any of your investment options are sold in full and you don't
manager (investment process, resourcing and support, update your automatic buy profile, funds may continue to be
implementation, and performance), and others specific to the invested into that option.
investment option such as relative risk, costs and tax, market
risk, liquidity risk, operational risk and credit risk. All investment Accounts without automatic buy instructions will have any
options are subject to the same review criteria, including excess cash remain invested in your cash account.
investment options offered by related parties.
From time to time, we'll add or remove investment options based
upon the above investment, client and risk considerations. We
recommend you consult your financial adviser before selecting
the specific investment options for your investment strategy.
NMMT is not responsible for the performance of underlying
investment options.
For more information on the investment options available, refer
to the MyNorth Investment options document on
northonline.com.au/mynorth or contact the North Service Centre
on 1800 667 841 for a copy.
15Automatic sell instructions Switching between investment options
Payments such as taxes, fees, insurance premiums and Switching involves the selling of an investment option and the
withdrawals may cause your cash account balance to fall below purchase of another. Both the purchase and sale are conducted
your nominated Minimum cash balance. If this happens, we'll at the same time, which may result in your cash account
sell down your investments according to the automatic sell becoming negative for a short period of time. Importantly, you
instructions that you have nominated. are still invested for the day(s) your cash account is negative.
You can nominate the following options: Your instructions for a switch are specified in dollars, subject to
trade minimums as described in the at a glance section.
– Divest as per sell down profile
– Divest as per sell down order If the dollar amount of an investment to be sold is greater than
– Pro rata across managed funds only (default option) 90% of your holding, the sell instructions will be converted from
dollar-based to unit-based using the latest unit price we hold.
Your automatic sell profile/order can include managed funds, This may result in the dollar amount purchased being different
managed portfolios and listed securities. to the dollar amount sold or the percentage switched being
If there are insufficient funds in an investment option to sell different to the dollar amount specified.
using your automatic sell instructions, then the required amount Redemptions
will be sold proportionally across your managed funds. Sells are
generally processed as a dollar amount to match your automatic Redemption periods vary between fund managers. Some fund
sell instructions. If the percentage amount for any investment managers can complete redemptions within a short time frame
option that is required to be sold is greater than 90%, the sale however there are fund managers that can take a considerable
will be converted from a dollar-based amount to a unit-based amount of time to complete a redemption. Please consider the
sale using the latest unit price we hold. This may result in the impact of your investments with longer redemption periods
percentage sold being different to the percentage you specified. when being used in sell or rebalance profiles.
If you don't have automatic sell instructions, your investments Listed securities
will be sold down proportionally.
MyNorth allows you to invest in all securities listed on the
Listed securities and term deposits won't be sold proportionally Australian Securities Exchange (ASX) and other securities as
and may cause your cash account to become negative. listed in the MyNorth investment options document available
at northonline.com.au/mynorth.
Rebalance profile
All orders placed through North Online are converted to a limit
Over time, the value of your underlying investments will
price as per ASX requirements. Please refer to the ASX for more
fluctuate. If you invest in more than one underlying investment
information.
option, this variation is likely to cause your percentage of holdings
to vary from your initial investment profile. The auto-rebalance To invest in listed securities through MyNorth, your financial
facility rebalances your investment options back to your adviser will need to request a Holder Identification Number (HIN)
rebalance profile, in accordance with your standing instructions. through North Online, which is unique to your account.
You can nominate a rebalance profile when you set up your Corporate actions
account and modify it through North Online. Your profile can
From time to time, there may be corporate actions associated
include managed funds and listed securities and must be
with listed securities. Examples of corporate actions include, but
specified in percentages.
are not limited to, rights issues, share splits, buy-backs and initial
The auto-rebalancing feature gives you the option to rebalance public offers.
quarterly, half-yearly or yearly on a selected date. The rebalancing
We will not participate in a corporate action without your
will only occur on your nominated rebalance date if the total of
instructions. In some circumstances, we may not be able to
the buy transaction or sell transaction to rebalance back to your
facilitate participation in a corporate action for operational or
profile meets the trade minimums as described in the At a glance
other reasons.
section. If the rebalance does not meet the trade minimums, the
rebalance will be skipped. In addition, any pending buy and sell We will notify your financial adviser of any approved corporate
transactions must be completed prior to the account being actions and ask them to contact you, to provide instructions on
rebalanced. your behalf. We will act on those instructions as provided to us
by your financial adviser. If your financial adviser has provided
The next rebalancing date will be scheduled based on the
you with transaction access for trading securities, you will be
nominated rebalance date according to the rebalance frequency
able to give us your instructions directly through North Online.
you have specified.
Please see our Proxy Voting Policy available free of charge
Dollar cost averaging on www.amp.com.au for more information on how corporate
Dollar cost averaging (DCA) is the process of investing a set dollar actions including IPOs may be treated.
amount into the market over regular intervals. The aim of this
Term deposits
approach is to reduce the risks associated with trying to choose
the right time to buy. DCA is subject to a minimum instalment You can invest in term deposits with a range of providers. Please
of $500. refer to the MyNorth Investment options document for a full
The benefits of DCA vary depending on the type of investment list of providers.
and market conditions. You should seek advice from your
financial adviser on how DCA may suit your individual
circumstances.
16You can also read
