Macq

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Macq

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Macquarie Wrap Smart administration solutions made simple

Administration mattersHow saving time can make you money

2007

for Best Master Trust/Wrap provider

Table of contents

Macquarie Investment Management Limited ABN 66 002 867 003 (MIML) is the trustee of Macquarie SuperOptions, Macquarie Super and Pension Manager and the Macquarie Super Accumulator (“Super Funds”), the responsible entity of the Macquarie Cash Management Trust (“CMT”) and the operator of Macquarie Investment Manager and Macquarie Investment Accumulator (“IDPS”).

The information in this brochure is not personal advice and has been prepared without taking into account the objectives, financial situation or needs of any particular investor. Therefore, before investing in a Super Fund, the CMT or through an IDPS on the basis of this information, you should read the relevant Product Disclosure Statement (PDS) or IDPS Guide and consider, with (or without) your financial adviser, whether the investment fits your objectives, financial situation or needs. The current PDS for the Super Funds and CMT and the current IDPS Guides for the IDPS are avaialble from MIML or your adviser.

Investments in the Super Funds, the CMT or through the IDPS are not deposits with or other liabilities of Macquarie Bank Limited or any other member company of the Macquarie Bank Group, and are subject to investment risk, including possible delays in repayment and loss of income or principal invested. No member company of the Macquarie Bank Group guarantees the performance of or the repayment of capital from the Super Funds, the CMT or investments made through the IDPS.

Any financial product advice provided by MIML is free of charge. MIML may receive remuneration for distributing financial products issued by other member companies of the Macquarie Group.

01 The value of administration. Making it easier to be a better investor.

02 Time and money. The benefits of a wrap platform.

03 A wrap system.

05 Reporting. Keeping things simple.

07 Taking the work out of paperwork.

08 Managing your money.

10 You’re not alone. Help with your Self Managed Super Fund.

11 Keep in touch. Access your portfolio online, anytime.

12 Administrative expertise. Solutions from Macquarie.

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The value of administration.

Making it easier to be a better investor

Diversification is one of the crucial parts of being a successful investor. It doesn’t matter whether you’re running an ordinary investment portfolio, a super portfolio or even managing your own super fund – having a range of assets, funds, shares, lenders and managers offers crucial risk management benefits and investment choice.

However, the more you diversify, the harder it is to keep track of your money and the less in control you are. It’s more difficult to move your money around as you want to, the paperwork mounts up and keeping track of your transactions becomes complex and confusing making tax time complicated.

A wrap platform supplies a simple, yet highly sophisticated and effective solution to this problem. By ‘wrapping’ all your investments together on one technologically advanced administration platform, a wrap makes transacting faster and more efficient, cuts down the paperwork and makes it easier for you to manage your investments and reporting.

In short, a wrap provides you the benefits of a sophisticated diverse portfolio but removes the administration hassles. It makes it easy to be a better investor – and you can use a wrap for whatever investment structure you like – investment, super or self-managed superannuation.

With wealth comes responsibility

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Time and money.

The benefits of a wrap platform

With a wrap platform, you will benefit from:

n More information, less paperwork – with all your investments in the one place, you receive consolidated, comprehensive reports from one source – rather than piles of different paperwork from different funds and companies.

n More for less – wrap platforms offer you access to a wide range of investment options – including wholesale managed funds that typically are not open to individual investors. Many of these wholesale funds also offer lower management fees.

n With ease – a wrap makes all sorts of investment transactions easier and faster. Whether you’re switching, buying or selling shares or investing in a managed fund, wrap technology makes the process faster and reduces the human error that causes most administrative problems.

n Online access – a wrap platform provides a complete picture of your entire investment portfolio, anytime, with just a few clicks of your mouse. You can log on wherever you wish and monitor your investments with just a few keystrokes.

“Money often costs too much”Ralph Waldo Emerson (1803 – 1882)

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A wrap system.

How a wrap works:

n Via a wrap platform you get access to a broad range of investments like direct shares, instalment warrants and managed funds.

n All your investment paperwork associated with your transactions are processed through this central platform.

n Corporate actions such as share buybacks are managed on your behalf, according to your instructions. This greatly reduces ongoing administrative hassles and paperwork and assists with comprehensive, audited tax reports.

n Your investment portfolio works with a central cash flow account. This means you combine a powerful investment vehicle with a flexible transactional facility that puts you in control of your money.*

n The cash account takes care of all regular transactions into or out of your account: payments to the tax office; fees and charges and periodic payments to other institutions.*

n You can also deposit directly into the cash account from different sources – whether it’s rent payments from an investment property or income from other investments.

n A wrap gives you and your adviser a consolidated picture of your affairs so their advice to you is based on the latest, integrated view of your financial situation and financial progress.

“Time is more valuable than money. You can get more money, but you cannot get more time”Jim Rohn (American speaker and author)

* There may be some restrictions on access to superannuation monies due to government regulations.

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The following diagram shows a wrap system at work.

n Income: n Investment n Rental n Othern Rollovers n Super contributions

(incl. SMSF)

n ATO payments (incl. SMSF)

n Cash withdrawals n Contributions/earnings

tax n Direct debits n Fees: n Adviser n Administrationn Insurance premiumsn Pension payments

(incl. SMSF) n Periodic payments n Rollovers n Investment loan payments

sell/incomebuy/reinvest

$$

Cash Management

Trust

Shares and managed

investments e.g. CBA,

Telstra, BHP

Transfer inShares and

wholesale managed

investments

Future investment deposits

Transfer in

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Reporting.

Keeping things simple

One of the biggest advantages of having a wrap appears at tax time. Gone are the days of searching for documents at tax time. A wrap creates an orderly paper trail of all the transactions for all your investments. When you need the information for tax reporting all the necessary records are ready and waiting.

As part of a wrap’s year end processes, the administrator will issue an “Independent Taxation Review” to determine whether the annual Tax Return Reports provided to you for year end purposes contain any misstatements or omissions in relation to taxation matters.*

In addition to tax reports a wrap provides a range of other information to keep you abreast of your investments. The table below illustrates the variety of information available.

Portfolio Snapshot For a complete overview of your portfolio and investment progress, the Portfolio Snapshot report combines asset allocation with income and growth information.

Portfolio Valuation A comprehensive breakdown of your investment showing all your holdings across various investments.

Asset Allocation Shows how your portfolio is spread across various asset classes, either in a table or as a chart.

Detailed Asset Allocation Shows how each investment in your portfolio is spread across various asset classes.

Investment Transactions Details every transaction on your portfolio, sorted by holding.

Superannuation details A snapshot of your superannuation tax components, estimated withdrawal balance, insurance and beneficiary details.

Pension Details A snapshot of your pension details, (including pension amounts and payment limits) tax components, account balance and beneficiary details.

Advice to Centrelink/Veterans Affairs

Assist you to obtain details of your income stream for Centrelink/Veteran Affairs.

*For superannuation accounts, the wrap provider will deduct from your account the applicable superannuation funds earning tax each year.

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Income and Expenses Lists all income and expenses of your portfolio by category.

Dividend/Distribution Details – Accrual basis

Lists all dividends and distributions received on an accruals basis.

Dividend/Distribution Details – Cash Receipts Basis

Lists all dividends and distributions received on a cash basis.

Realised Gains/Losses Lists all realised capital gains.

Unrealised Gains/Losses Lists all unrealised capital gains.

Fee Statement A summary of fees deducted from your portfolio.

Cash Transactions A record of all cash transactions on your portfolio.

Account details Summary of account set-up, including contact details and automated features.

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TransactionsThrough consolidated reporting and the ability to transact on your behalf, a wrap platform reduces your administration headaches and ensures all your investments are easily monitored.

When it comes to transacting, you won’t suffer tedious delays as paperwork moves back and forward between you, your adviser and investment institutions. Transactions like the following take place automatically.

n Regular investment plans

n Withdrawals/deposits

n Distribution payments

n Collecting dividends

n Buy/sell orders

n Call payments

n Switches

n Pension payments

n Fee withdrawals

Corporate ActionsWith your approval, your wrap provider can also receive and respond to all the corporate action correspondence from listed companies. This includes actions like:

n IPO’s

n Takeovers

n Buy backs

n Share purchase plan

n Rights (renounceable and non-renounceable)

n Compulsory acquisitions

Custodial structureA wrap platform has the ability to handle all these matters on your behalf because of its custodial structure.

In the case of non-superannuation wrap or wrap for SMSF’s while you remain the beneficial owner of the investments, your wrap provider – the ‘custodian’ – holds legal title. You offload a great amount of paperwork but remain the owner of the underlying investments and receive all the benefits of holding them – such as income payments, access to discount cards and special offers.

Taking the work out of paperwork.

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Capital Gains TaxFor Investment assets a wrap may also allow you to transfer approved investments into your account without selling them – which means you realise no capital gains and do not pay capital gains tax.

Managing your cashflows – automaticallyEvery successful business starts with understanding the revenue streams and cash flows.

Managing your cashflow is made even easier through the use of a central cash account. When you establish a wrap, you create a central, cash hub which all your transactions go through.

With all dividends and interest payments processed via one account, managing your portfolio and investment cashflow strategy is much simpler.

Shares and wholesale managed

investments

sell/incomebuy/reinvest

Shares and wholesale managed

investments

Shares and managed investments e.g. CBA, Telstra, BHP

Transfer in

Managing your money.

Cash Management

Trust

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A wrap platform also allows for automatic management of your cashflows – taking the hassle out of regular investments and withdrawals and most importantly, helping you proactively manage the asset allocations in your portfolio. Depending on your platform and investment structure you may be able to:

n Automatically and regularly rebalance your overall portfolio in line with your pre-determined asset allocation.

n Automatically trigger reinvestments into nominated funds once your cash balance hits a certain level.

n Automatically trigger cash withdrawals once your cash balance hits a certain level.

n Arrange automatic dividend reinvestment into listed companies and reinvestment of managed fund distributions.

n Pre-set regular investments into specific funds to enjoy the benefits of dollar cost averaging.

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You’re not alone.

Help with your Self Managed Super Fund

Self Managed Super Funds (SMSFs) offer flexibility, tax advantages and the ability to manage your own affairs. However, with these benefits comes greater responsibility – and the regulators are now more stringent than ever to ensure it’s done right. That’s where a wrap can help.

One of the most important responsibilities of SMSF trustees is to create and implement an investment strategy. A wide range of managed investments and listed companies available within a wrap allows you to construct and manage a diversified portfolio from one central point. That diversification includes a variety of asset classes and fund managers and access to international investment options.

SMSF investors who use a wrap also get the benefit of a central cash account that guarantees easy and efficient administration.

A wrap platform offers timely access to account and cashflow information so you can track all payments to and from your fund: contributions, dividends, distributions, pension payments, expenses and asset purchases or sales. A wrap’s electronic transaction capabilities make it easy to collect income and share dividends and to automate payments and transfers.

When it comes to record keeping, all cash transactions appear on one consolidated statement – making accounting, tax returns, end-of-year auditing and long-term record keeping much easier and quicker to complete.

A wrap platform allows you to download transaction information to different financial software packages so you can provide your financial adviser, accountant and stockbroker with detailed, consolidated and consistent information about your SMSF.

“The smaller the function, the greater the management.”C. Northcote Parkinson (1909-1993)

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By logging onto your wrap account you immediately connect to all of the information you need about your portfolio. Log on at home, in the office or at the airport. Wherever you are, as long as you can find the internet, you can find information on your portfolio.

A picture of your investmentThe sample reports below illustrate some of the reports available online:

Keep in touch.

Access your portfolio online, anytime

“The technologies which have had the most profound effects on human life are usually simple.”Freeman Dyson (English Physicist, b. 1923)

Portfolio Valuationas at 26 July 2007

AccountName:

SAMPLE

Account No: XXXXXX

Security Units Cost($)

Average Costper Unit

($)

MarketPrice

($)

MarketValue

($)

P/Folio(%)

LISTED SECURITIESCoates Hire Limited (COA) 8,280 19,971.71 2.41 5.75 47,610.00 4.89%GPT Group (GPT) 21,101 24,787.62 1.17 4.73 99,807.73 10.25%St George Bank Limited(SGB) 10,427 82,185.92 7.88 34.59 360,669.93 37.05%

126,945.25 508,087.66 52.20%MANAGED FUNDS AND LISTEDTRUSTSDimensional Australian ValueTrust (DFA0101AU) 6,645.1727 99,690.34 15.0019 24.9500* 165,797.06 17.03%

GMO Australian Equity Trust(GMO0100AU) 32,663.7267 40,000.00 1.2246 1.5991* 52,232.57 5.37%

GMO Australian SmallCompanies Trust(GMO0101AU)

24,593.7640 28,000.00 1.1385 1.7212* 42,330.79 4.35%

Perpetual Wsale IndustrialFund (PER0046AU) 56,999.1980 75,183.53 1.3190 2.0350* 115,993.37 11.92%

Platinum Intl Brands Fund(PLA0100AU) 11,205.7359 15,000.00 1.3386 2.0707* 23,203.72 2.38%

257,873.87 399,557.50 41.05%

DIRECT CASHCMT Account Cleared(000120521851) 65,715.81 65,715.81

CMT AccountUncleared/Heldh 0.00 0.00

PENDING SETTLEMENTS 1

Pending Settlements 0.00 0.00

65,715.81 65,715.81 6.75%

Portfolio underAdministration 450,534.93 973,360.97 100.00%

Total Portfolio 450,534.93 973,360.97 100.00%

Cash Transactionsfrom 26 September 2002 to 26 July2007Transactions displayed in ascendingdate order

Account Name: SAMPLEAccount No: XXXXXXCash AccountNo:

XXXXXXXXXXXX

Date Description Debit ($) Credit ($) Balance ($)

26/09/2002 OPENING BALANCE $0.0020/11/2002 PERPETUAL TRUSTE 0046718 AG 01 116,448.96 $116,448.96 CR21/11/2002 CHEQUE BOOK 7.00 $116,441.96 CR21/11/2002 GENERAL PROPERTY 001011552583 1,012.86 $117,454.82 CR27/11/2002 W122566 JBW0103AU APPLICATION 12,000.00 $105,454.82 CR27/11/2002 W122565 PLA0100AU APPLICATION 15,000.00 $90,454.82 CR27/11/2002 W122564 VAN0105AU APPLICATION 25,000.00 $65,454.82 CR27/11/2002 W122567 SBC0816AU APPLICATION 28,000.00 $37,454.82 CR27/11/2002 W122568 GMO0101AU APPLICATION 28,000.00 $9,454.82 CR03/12/2002 W122563 VAN0103AU REDEMPTION 52,955.96 $62,410.78 CR04/12/2002 WRAP SOLUTIONS ADVISER FEE 200.89 $62,209.89 CR04/12/2002 WRAP SOLUTIONS ADMIN FEE 301.91 $61,907.98 CR06/12/2002 W122562 PER0046AU REDEMPTION 8,000.00 $69,907.98 CR10/12/2002 W124598 PER0106AU APPLICATION 30,000.00 $39,907.98 CR10/12/2002 W124597 UBS0003AU APPLICATION 33,000.00 $6,907.98 CR16/12/2002 ST GEORGE BANK DEC02/00056545 4,379.34 $11,287.32 CR23/12/2002 W128043 FSF0003AU REDEMPTION 77,168.96 $88,456.28 CR24/12/2002 W128688 GMO0100AU APPLICATION 40,000.00 $48,456.28 CR24/12/2002 W128687 DFA0101AU APPLICATION 45,000.00 $3,456.28 CR24/12/2002 SELL 3200 TLS 13,992.00 $17,448.28 CR06/01/2003 WRAP SOLUTIONS ADVISER FEE 231.95 $17,216.33 CR06/01/2003 WRAP SOLUTIONS ADMIN FEE 551.66 $16,664.67 CR07/01/2003 DIST − UBS HYBRID INCOME FUND 145.57 $16,810.24 CR07/01/2003 DIST − UBSAM PROPERTY SEC FUND 214.06 $17,024.30 CR08/01/2003 DIST − GMO AUSTRALIAN SMALL

COMPANI142.46 $17,166.76 CR

08/01/2003 DIST − GMO AUSTRALIAN EQUITY TRUST 186.81 $17,353.57 CR10/01/2003 DIST − BMIF − AUST EQTY INDEX FUND 382.55 $17,736.12 CR14/01/2003 DIST − VANGUARD AUST FI 145.30 $17,881.42 CR14/01/2003 DIST − CSAM AUST FI 182.23 $18,063.65 CR14/01/2003 DIST − DFA AUST VALUE 486.17 $18,549.82 CR20/01/2003 DIST − CITIGROUP PROP SEC 513.91 $19,063.73 CR23/01/2003 DIST − PERP W/S MTH INC 55.38 $19,119.11 CR23/01/2003 DIST − PERP INDUSTRIAL 698.59 $19,817.70 CR24/01/2003 INTEREST PAID 222.77 $20,040.47 CR24/01/2003 RES INVEST W'HOLDING TAX 107.00 $19,933.47 CR04/02/2003 WRAP SOLUTIONS ADVISER FEE 241.34 $19,692.13 CR04/02/2003 WRAP SOLUTIONS ADMIN FEE 328.33 $19,363.80 CR07/02/2003 DIST − PERP W/S MTH INC 67.73 $19,431.53 CR12/02/2003 W134932 BGL0034AU REDEMPTION 61,985.24 $81,416.77 CR18/02/2003 BUY 635 RIO 20,916.00 $60,500.77 CR18/02/2003 BUY 1160 FOA 21,026.00 $39,474.77 CR18/02/2003 BUY 1655 WSF 21,272.00 $18,202.77 CR25/02/2003 GENERAL PROPERTY 001012144773 1,032.72 $19,235.49 CR04/03/2003 WRAP SOLUTIONS ADVISER FEE 203.91 $19,031.58 CR04/03/2003 WRAP SOLUTIONS ADMIN FEE 364.38 $18,667.20 CR07/03/2003 DIST − PERP WHOLESALE MTH INC 51.81 $18,719.01 CR01/04/2003 WESTFIELD DIV MAR03/00023943 198.93 $18,917.94 CR03/04/2003 WRAP SOLUTIONS ADVISER FEE 236.08 $18,681.86 CR03/04/2003 WRAP SOLUTIONS ADMIN FEE 328.12 $18,353.74 CR04/04/2003 DIST − UBS HYBRID INCOME FUND 124.55 $18,478.29 CR

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Administrative expertise.

Solutions from Macquarie Adviser Services

Macquarie Wrap

Investment

Macquarie offers a range of wrap platforms to support your general investment needs (and SMSF needs) designed specifically for superannuation:n Macquarie Investment Manager

– gives you access to more than 500 wholesale managed investments, all eligible CHESS approved ASX-listed securities and a choice of margin lenders.

n Macquarie Investment Accumulator – provides access to more than 130+ managed investments for those with smaller balances to invest.

Superannuation

Macquarie also offers a range of wrap platforms designed specifically for superannuation:n Macquarie Super and Pension

Manager – with more than 500 managed funds, absolute return investment options and easy administration when transferring into a pension. Access is provided to approved ASX listed securities that include shares and other listed securities such as property trusts.

n Macquarie Super Accumulator – also includes a wide variety of over 100 wholesale managed funds and seamless transfer to Pension Manager.

n Macquarie SuperOptions – a simpler approach to super that allows you to tailor an individual portfolio from a range of more than 40 managed funds.

Macquarie Cash Management Trust (CMT)A cashflow management system can help you monitor and manage your cashflow so that you can put your spare cashflow towards assets that will produce future income, such as: shares, investment property, managed funds etc.

The Macquarie CMT was introduced in 1980 and was the first CMT in Australia. Today it is the largest retail managed fund in Australia with more than $18 billion in funds under management (as at July 2007). The Macquarie CMT has been tailor made for investors and self-managed super funds (SMSFs). It is now* the most preferred CMT for SMFSs Australia, with one in four SMSFs in using the Macquarie CMT. The Macquarie CMT is a very secure investment and has the highest credit rating (AAAm) from Standard & Poor’s†, the highest credit rating available to a cash management trust.

* As at 27 July 2007† Standard & Poor’s Information Services (Australia) Pty Ltd ABN 17 096 167 556, referred to as Standard & Poor’s.

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Why Macquarie Adviser Services (MAS)?All of Macquarie Wrap offerings are underpinned by the latest in investment administration technology and backed by a team of professional customer service and administrative staff.

Macquarie Adviser Services’s customer services team has won multiple service awards thanks to a service philosophy that promotes the highest standards, teamwork and commitment to our clients.

Australian financial advisers ranked MAS number one for best Wrap and fund manager in the 2007 Wealth Insights/ASSIRT Service Level Awards, and independent actuaries Rice Warner also voted Macquarie Wrap Platform of the Year Award (for Super) in the 2007 Australian Financial Review Smart Investor Blue Ribbon Awards.

In addition, as part of Macquarie Wrap’s year end processes, Deloitte Touche Tohmatsu conducts an “Independent Taxation Review” to determine whether the annual Tax Return Reports provided to you contain any misstatements or omissions in relation to taxation matters. A copy of their signoff letter is included at the back of the Tax Guide which is part of the year end pack you receive.

Ernst & Young also conduct a review of Macquarie’s internal controls and make a statement as to the adequacy of these controls and whether they impact upon accuracy of the year end reports Wrap issues.

Experience Macquarie Wrap is backed by Macquarie Investment Management Limited – an administrator with more than 20 years experience and a proven track record. Macquarie’s Wrap business had more than $26 billion in funds under administration (July 2007).

BKL0206 07/07

Financial adviser’s stamp

If you have any questions or require more information, please speak to your financial adviser.