Frequently Asked Questions

You can open an account with an initial investment of AUD 10,000 per Fund or set up a regular savings plan to gradually build up your investment. The minimum regular savings plan contribution is AUD 500 per month per Fund.

Your bank account will be debited on the first business day of each month. You’ll need an Australian bank account to set up a regular savings plan.

We have a different identification form for the main entity types (individual, company, or trust). Please visit our forms page to learn more. You can also find a list of documents on the back of the relevant Identification Form.

As you are providing copies of original documents, they’ll need to be certified. You’ll find a list showing who can certify them and how this should be done by reading our Getting your documents certified document, located in the ‘Forms and Documents’ section of the site.

Both the Allan Gray Australia Equity Fund and the Balanced Fund make distributions once a year at the end of the financial year.

The Allan Gray Australia Stable Fund typically makes a distribution at the end of each calendar quarter.

You can choose to:

• have your distribution paid in cash if you have an Australian bank account
• reinvest your distribution in the same Fund, or
• use a combination of the two options.

Yes, you will need to pay tax on the distribution and declare the taxable amounts you received as part of your annual tax return. From a tax perspective, your choice to reinvest the distribution is irrelevant.

Allan Gray Australia Equity Fund (Class A)

• ISIN: AU60ETL00600
• APIR: ETL0060AU

Allan Gray Australia Equity Fund (Class B)

• ISIN: AU60ETL03497
• APIR: ETL0349AU

Allan Gray Australia Balanced Fund

• ISIN: AU60ETL46546
• APIR: ETL4654AU

Allan Gray Australia Stable Fund

• ISIN: AU60ETL02739
• APIR: ETL0273AU

We have benchmarks to measure each Fund’s performance. Our aim is to deliver a better return than the benchmark over the long term.

The Allan Gray Australia Equity Fund’s benchmark is the S&P/ASX 300 Accumulation Index.

The Allan Gray Australia Stable Fund’s benchmark is the RBA cash rate.

The Allan Gray Australia Balanced Fund uses a custom benchmark, made up of:

• 36% S&P/ASX 300 Accumulation Index
• 24% S&P/ASX Australian Government Bond Index
• 24% MSCI World Index (net dividends reinvested) expressed in AUD; and
• 16% JPMorgan Global Government Bond Index expressed in AUD.

Yes, if you have multiple investments with us, you’ll have access to all of your holdings by simply logging in to your account. Here you can view information about your investment, including your account balance and transaction history, and access copies of your statements. You can also view your personal contact details, check your distribution instructions and view the bank account details we have on file for you.

Please contact us directly and we will give you your registration code to set up online access.  You will find our contact details on our “Contact Us” page.

You will need to complete and return the Additional Investment form, by downloading it from our ‘Forms & Documents’ page.

The following statements are available to all unitholders in our Funds.

• A transaction confirmation statement, showing a change in your investment (we provide this when you transact on your account or on your request).
• Periodic statements on your investments.
• Any half-yearly financial reports (we provide this on request).
• The annual audited accounts of the Fund for each period ending 30 June.
• Annual distribution, tax and confirmation of holdings statements for each period ending 30 June.

We will send you or your authorised representatives the above documents by email unless you instruct us otherwise.

You can also sign up to receive our monthly emails via our Insights page.  By doing this, you’ll also receive the latest Fund Fact Sheets, our Quarterly Commentaries and the latest views from our analysts.

The easiest way to update all of your account details is to complete and return the Change of Details form, located on our ‘Forms & Documents” page.

Yes, you can transfer some or all of your investment to another person or entity. Both parties will need to complete and sign the Transfer form available from the Forms & Documents page of this website. If you wish to keep your account open after the transfer, you must maintain a minimum balance of $10,000 per Fund.

If you are transferring your investment to someone who is not currently investing with Allan Gray Australia, they’ll need to follow the account opening process before the transfer is processed.

Before transferring an investment, you may want to consider getting professional advice, as there may be tax implications for you.

Minimum redemption amount

The minimum redemption amount is AUD 500 if you are redeeming via a monthly redemption plan. No minimum applies in other circumstances.

However, after your redemption is processed, you must always maintain a minimum investment balance of AUD 10,000.

Monthly redemption plan

With the monthly redemption plan, you can make regular redemptions of at least AUD 500 per month. This saves you the time and hassle of giving us an instruction each month.

To set up a regular redemption plan, you must have a minimum balance of AUD 25,000 and maintain a balance of AUD 10,000 after each redemption is made.

To make a redemption:

1. Read the important information about the minimum amounts.
2. Complete the Redemption form.
3. Email or post the instruction to us.

Regular redemptions cannot be paid out to an overseas bank account.

Yes, as long as you have a minimum balance of AUD 25,000 in your account at the start. The minimum monthly regular redemption amount is AUD 500 and payments can only be made to Australian bank accounts.

We can automatically suspend your regular redemption once your account balance reaches AUD 10,000.

Regular redemption plans are processed on the 22nd of each month. If the 22nd is not a business day, we will process your regular redemption plan on the preceding business day.

We pay regular redemption proceeds to your bank account on the third business day after the 22^nd of each month.

Generally, redemption proceeds should arrive in your bank account within four to seven business days after we have received your request. Payment to an overseas bank account may take longer. Please note that regular withdrawal plan bank accounts must be Australian.

You can withdraw from your investment at any time. There is no minimum redemption amount but you must maintain a minimum investment balance of AUD 10,000.

Payments can only be made to a bank account with the same name as your investment account.

Yes, you can (this excludes regular redemption plans). Keep in mind however, as payments are made in Australian dollars, the proceeds will be converted by your bank into the currency of your overseas bank account and overseas’ bank charges can erode the value of your investment.

If you are invested in your own name, this investment forms part of your estate, and will be dealt with according to the terms of your will or in accordance with the law if necessary.

Yes, you may switch between the Allan Gray Australia Equity Fund (Class A and Class B), the Stable Fund and the Balanced Fund at any time and pay no switching fees.

The only cost is the buy/sell spread because switch transactions have two components:

1. Sell units from your existing Fund.
2. Buy units in another Fund.

There is no buy/sell spread when switching between Class A and Class B of the Allan Gray Australia Equity Fund.

Please make sure your switch instruction takes into account the minimum balance requirement for each Fund. In other words, you must have AUD 10,000 in each Fund you hold after the switch has been processed.

There are two simple steps to switch:

1. Review the PDS, TMD and disclosure documents for the Fund that you wish to switch to.
2. Provide us with a completed and signed Switch Instruction form.

Before instructing a switch transaction, you may want to consider getting professional advice, as there could be tax or other implications for you.

Yes, if the value of the Fund and the benchmark is going down, a performance fee can still be charged if the value of the Fund has fallen less than the benchmark. This is because the Fund has still delivered a better return than the benchmark. Therefore, the level of costs in the Fund can vary.

The high-water mark is the highest return the Fund has achieved in comparison to the benchmark (net of management fees and costs) since the Fund was launched.

A performance fee is only charged when the Fund’s return in comparison to the benchmark reaches a new high. When this happens the high-water mark is reset at this level.

If the Fund subsequently loses value, and then increases again, the high-water mark ensures that performance fees are not charged for this value increase because this is only recovering previous losses.

Yes, the price which you receive when you transact in the Funds will include a spread. The spread covers the costs the Fund incurs in buying and selling investments for your transactions. This means that existing investors in the Funds do not incur any costs when new investors buy or sell units in the Fund.

The spread for the Allan Gray Australia Equity Fund is 0.20%. For the Allan Gray Australia Balanced Fund the spread is 0.20% and for the Allan Gray Australia Stable Fund the spread is 0.10%. The spread is lower for the Allan Gray Australia Stable Fund because a smaller portion of the Fund is invested in assets that incur transaction costs (such as brokerage associated with trading equities).

Allan Gray covers the portion of costs which are directly associated with running a fund. Standard costs to run a fund include fund administration, custody, registry and responsible entity fees.