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Listed below is information on recent withdrawal offers. We will post information and updates relating to withdrawal offers on this page.
Withdrawal offer six from ING's mortgages and Income Plus funds closed at 5:00pm (Sydney time) on 2 June 2010. Any withdrawal or switch out requests received by ING by 2 June 2010 will be processed within 21 days. Investors who submitted a request will be mailed a letter notifying them of the payment they have received.
Below are details of the withdrawal offer seven from ING's mortgages and Income Plus funds for clients invested in OneAnswer Investment Portfolio and other retail trusts. If you do not wish to withdraw or switch from ING's mortgages and Income Plus funds at this time, you do not need to take any action.
To participate in the withdrawal offer, you will need to:
1. Read the terms and conditions (71kb PDF) of the offer
2. Complete the relevant form, i.e. an offer-specific withdrawal form (79 kb PDF) or an offer-specific switch form (78kb PDF) during the offer period
3. Return the form to us, either by fax to 02 9234 8402 or forward to:
ING Funds Management Limited
GPO Box 2709
Sydney NSW 2001
Withdrawal offer seven will close at 5:00pm (Sydney time) on 2 September 2010.
If after reviewing the terms and conditions of the offer you require further information, please contact your financial adviser or call Customer Services on 1800 195 487 weekdays between 9am and 5pm (Sydney time).
If you do not wish to withdraw or switch from ING's mortgages and Income Plus funds at this time, you do not need to take any action.
If you wish to withdraw from or switch out of one of ING's mortgages or Income plus funds, you can submit the normal withdrawal or switch form for payment consideration. These are available from Forms & brochures.
Requests received by ING Australia after 5:00pm (Sydney time) on 2 March 2010 and by 5:00pm (Sydney time) on 2 June 2010.
Any requests received during the above period will be considered for payment after 2 June 2010. We aim to process all withdrawal and switch requests as soon as possible. This is dependent on the volume of requests received.
The actual amount paid to each member that requests to withdraw or switch out will depend on the value of all withdrawal and switch out requests received by ING Australia during the above period and the level of cash made available within a fund to meet the requests received. All withdrawal and switch out requests from a fund will receive the same proportion of their request, irrespective of when the request is received.
If we have received multiple withdrawal or switch out requests from you during the above withdrawal offer period, we will contact you to confirm which withdrawal or switch out request you wish to have considered for payment.
Requests received by ING Australia after 5:00pm (Sydney time) on 2 June 2010 and by 5:00pm (Sydney time) on 2 September 2010.
Any requests received during the above period will be considered for payment after 2 September 2010. We aim to process all withdrawal and switch requests as soon as possible. This is dependent on the volume of requests received.
The actual amount paid to each member that requests to withdraw or switch out will depend on the value of all withdrawal and switch out requests received by ING Australia during the above period and the level of cash made available within a fund to meet the requests received. All withdrawal and switch out requests from a fund will receive the same proportion of their request, irrespective of when the request is received.
If we have received multiple withdrawal or switch out requests from you during the above withdrawal offer period, we will contact you to confirm which withdrawal or switch out request you wish to have considered for payment.
Requests received by ING Australia after 2 September 2010.
Any requests received by ING Australia after 2 September 2010 will be considered for payment at a later date. We intend confirming what this later date will be on this website.
If you require further information, please contact your financial adviser or call Customer Services on 133 665 weekdays between 8am and 8pm (Sydney time).
Withdrawal offer six from Challenger Howard Mortgages closed at 5:00pm (Sydney time) on 14 June 2010. Any withdrawal or switch out requests received within this offer period will be processed within 21 days of the closing date. Investors who submit a request will be mailed a letter notifying them of the payment they have received.
Details of a future withdrawal offer will be made available on this website.
If you do not wish to withdraw or switch from Challenger Howard Mortgages at this time, you do not need to take any action.
If you wish to withdraw from or switch out of Challenger Howard Mortgages, you can submit the normal withdrawal or switch form for payment consideration. These are available from Forms & brochures.
Requests received by ING Australia between 24 March 2010 and 5:00pm (Sydney time) on 14 June 2010.
Any requests received between 24 March 2010 and by 5:00pm (Sydney time) on 14 June 2010 will be considered for payment after this date. We aim to process all requests as soon as possible. This is dependent on the volume of requests received.
The actual amount paid to each member that requests to withdraw or switch out will depend on the value of all withdrawal and switch out requests received by ING Australia between the above dates and the level of cash made available within a fund to meet the requests received. All withdrawal and switch out requests from a fund will receive the same proportion of their request, irrespective of when the request is received.
If we have received multiple withdrawal or switch out requests from you during the above withdrawal offer period, we will contact you to confirm which withdrawal or switch out request you wish to have considered for payment.
If you require further information, please contact your financial adviser or call Customer Services on 133 665 weekdays between 8am and 8pm (Sydney time).
Requests received by ING Australia after 14 June 2010.
Any requests received after 14 June 2010 will be considered for payment at a later date. We intend confirming what this later date will be on this website.
Update - April 2010
AMP Capital Investors (AMP Capital), the fund manager of the underlying fund, has made a special distribution to ING Australia which we will be passing on to investors in the AMP Capital Enhanced Yield fund (the Fund).
How much will investors receive?
AMP Capital has made a special distribution for the March quarter. They have paid approximately 4% in capital plus income of approximately 3-4% from the underlying fund. The amounts processed through OneAnswer accounts will be this amount less our provision for future liabilities including any applicable taxes, fees and expenses of the Fund.
How are investors being notified?
OneAnswer Investment Portfolio investors
OneAnswer Investment Portfolio clients have been paid the special distribution as part of the normal quarterly distribution process. The quarterly return was approximately 7.4%, equating to a cents per unit distribution of 6.006 cents. This payment was processed on 15 April 2010. Investors will receive their quarterly distribution statement at the end of April.
OneAnswer Personal Super and Pension members
OneAnswer Personal Super and Pension members’ special distribution from the Fund will be processed as a switch into the ING Cash fund. They will receive a confirmation of switch request along with a flyer notifying them of the special distribution. The flyer will also provide notice of new options available in relation to this special distribution and future special distributions from the Fund. We anticipate that payments will be made by the end of May. The final distribution amount is approximately 7.5% of account balances.
Please visit the Fund suspensions page for further details.
Please speak to your financial adviser for further information. Alternatively you can call Customer Services on 133 665, weekdays between 8am and 8pm (Sydney time).