An Income Fund is a managed fund whose goal is to provide an income from investments.
A managed fund is a form of collective investment that pools money from many investors and invests their money in stocks, bonds, short-term money market securities, and/or other securities such as Mortgages. The objectives of the Income Funds are to provide a relatively low risk investment together with a competitive return of income.
Tasmanian Perpetual Trustees has four Funds (Select Term Fund, Fixed Term Fund, Long Term Fund and Select Mortgage Fund) invested in first Mortgages predominately over Tasmanian rural, commercial and residential real estate and also in short to medium term money market type securities and mortgage backed securities. The Tasmanian Perpetual Trustees Income Plus Fund is predominately invested in high yield debt and fixed interest.
The Income Funds commenced in 1977 with the Fixed Term Fund being offered to the public for the first time. Tasmanian Perpetual Trustees has been helping investors and borrowers achieve their business and financial goals through the Income Funds for nearly 30 years – another real case of Tasmanians helping Tasmanians to achieve their goals.
Fixed Term Fund
- Initial term of 6 months and thereafter 7 days notice of withdrawal
- Minimum investment of $5,000
- No account keeping fees
- Interest calculated daily and paid quarterly
- Highly competitive rate of return
- Deposit any time via BPAY
- Direct Credit Facility
Long Term Fund
- Initial term of 9 months and thereafter 7 days notice of withdrawal
- Minimum investment of $5,000
- No account keeping fees
- Interest calculated daily and paid quarterly
- Highly competitive rate of return
- Deposit any time via BPAY
- Direct Credit Facility
Select Mortgage Fund
- Initial term of 12 months and thereafter 7 days notice of withdrawal
- Minimum investment of $25,000
- No account keeping fees
- Interest calculated daily and paid quarterly
- Deposit any time via BPAY
- Direct Credit Facility
Income Plus Fund
- No establishment or contribution fees
- No termination fees
- Monthly distributions
- Minimum investment $1,000
- BPAY deposits
- Redemptions can be made in person, by fax or by phone
- Invests in the Mercer Income Plus Fund
- Diversification across asset classes and investment managers
- Facilitates access to a wholesale product via a retail platform
- Direct Credit Facility
Direct Credit Facility
For all Funds other than the Select Term Fund, additional monies can be invested via direct credit. To set up a direct credit to add to your investment contact your bank, credit union or building society, or use their website to make payments from your cheque or savings account.
Payments from credit cards are not accepted. For more information on direct crediting your account contact your financial institution.
You cannot make outward payments from your account(s) with Tasmanian Perpetual Trustees using the direct crediting facility.
Your account will generally be credited the next business day after the payment is initiated.
To use the direct crediting system you must have an open account with Tasmanian Perpetual Trustees. If your account is closed, your payment will be rejected. If your payment is rejected we will refund you in full.
You cannot use direct crediting to re-open a closed account.
There are no additional fees or charges for using direct crediting to add monies to your account.
BSB Code 037-812
The BSB and Account Number are on your quarterly statement. You will need this information when making a direct credit payment.
BPAY
BPAY® is an electronic payment service offered by Australia's leading financial institutions as a core feature of internet and phone banking. It is a convenient, fast way to transfer money to your account with Tasmanian Perpetual Trustees.
For more information contact your nearest branch of Tasmanian Perpetual Trustees.
More Information
Past performance is not a reliable indicator of future performance. Tasmanian Perpetual Trustees Limited recommends that you seek independent professional advice that takes into account your investment objectives, financial situation, particular needs and/or other personal circumstances, before making any investment decisions. Tasmanian Perpetual Trustees Limited, MyState Limited and MyState Financial Limited do not guarantee the repayment of capital or the performance of the Funds or any particular rates of return from the Funds. A mortgage fund investment is an equity investment in a managed investment fund, and is not a bank deposit. Accordingly, there is a higher risk of losing some or all of your money than is the case with a bank deposit. In respect of withdrawal periods, withdrawal rights and investment periods, please note that whilst we expect to meet redemption requests within the periods stated, these periods may be longer subject to the nature of the assets of the particular Fund, the particular Fund’s liquidity, the Fund’s constitution and the Law. For additional information, please refer to the Fund’s PDS which is available free of charge at any Tasmanian Perpetual Trustees branch or online in product disclosure documentation.