mFund – update
ASX has decided to discontinue the Managed Fund Settlement Service (mFund). Please refer to Wind down and closure of the ASX Managed Fund Settlement Service (mFund). There will be no change to the mFund service in the short term and no immediate action is required. Importantly, the Funds offered by Fidante via mFunds are multi access products, and therefore this decision does not mean a ‘closure’ of the Fund nor does it impact the Fund or its ability to meet its investment objectives or implement its strategy.
The mFund Settlement Service, developed by the ASX, is a leading innovation that enables investors to use an ASX broker when they buy and sell units in unlisted managed funds. It is an electronic processing system of settling transactions of unlisted managed funds through the Clearing House Electronic Subregister System (CHESS) and is designed to replace the traditional paper application process for unlisted managed fund transactions.
Fidante is a foundation member of the mFund Settlement Service.
mFund by ASX
The mFund Settlement Service, brought to you by the ASX, enables you to buy and sell units in selected unlisted managed funds directly with the mFund issuer via a stockbroker or advisory services used to transact shares or other ASX products.
The service uses CHESS, ASX’s world-class electronic settlement system, to automate and track the process of buying (applying for) and selling (redeeming) units in these managed funds. Your holdings in these funds (‘mFunds CHESS holdings’) are held electronically and can be linked to the same Holder Identification Number (HIN) used to hold other investments transacted through ASX, such as shares.
That means you can track your managed fund investments using the same systems you use for shares and other securities.
Which Bentham Funds are Available on mFund?
The Bentham Global Income Fund (mFund code BAM05), Bentham Syndicated Loan Fund (mFund code BAM04), Bentham High Yield Fund (mFund code BAM03), Bentham Asset Backed Securities Fund (mFund code BAM06) are now available on mFund. Please see relevant PDS as different fees may apply.