20 June 2012
All simple managed investments must convert their offer documents to the new shorter form PDS regime by 22 June 2012; hedge funds, however, have been exempt (Corporations Amendment (No.5) Regulations 2012).
This will impact the following Bennelong funds:
Bennelong Kardinia Absolute Return Fund and the Bennelong Long Short Equity Fund have been deemed to be ‘hedge funds' and are therefore excluded from the regime.
The current, long form PDSs will be non-compliant from this date. In other words, as of the 22 June 2012, only the new short form PDSs and accompanying Additional Information Booklets and Applications Forms can be used.
The new documents will be made available on our website 22 June.