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Fund news

Bendigo Income Generation Fund is now closed

Tue, 09 Jan 2024

The Bendigo Income Generation Fund has now been wound up, effective 9 January 2024.

All investors have previously been informed about this closure via a letter issued on 12 December 2023.

For further information please view the letter and fact sheet issued to investors.

Wind up of the Bendigo Income Generation Fund

Tue, 12 Dec 2023

Sandhurst will write to investors in the Bendigo Income Generation Fund from today advising of the commencement of the wind up of the fund.

The fund is closed to new applications and investments as of 12 December 2023.

The termination date has been set as 9 January 2024.

For further information please view the letter and fact sheet issued to investors.

Important information regarding Sandhurst managed funds – fees and costs

Mon, 04 Dec 2023

Sandhurst has undertaken an annual review of our Managed Funds’ fees and costs in relation to the financial year ended 30 June 2023. As a result, we have updated the required Product Disclosure Statements (PDS).

For up-to-date fees and costs of these Funds, please refer to the PDS updates effective as of the dates below:

Fund name Effective date
Sandhurst Conservative Fund 20 November 2023
Sandhurst Balanced Fund 20 November 2023
Sandhurst Growth Fund 4 December 2023
Bendigo Conservative Index Fund 20 November 2023
Bendigo Balanced Index Fund 20 November 2023
Bendigo Growth Index Fund 20 November 2023
Bendigo High Growth Index Fund 20 November 2023
Bendigo Defensive Wholesale Fund 4 December 2023
Bendigo Conservative Wholesale Fund 4 December 2023
Bendigo Balanced Wholesale Fund 4 December 2023
Bendigo Growth Wholesale Fund 4 December 2023
Bendigo High Growth Wholesale Fund 4 December 2023
Bendigo Socially Responsible Growth Fund 4 December 2023
Sandhurst Industrial Share Fund 4 December 2023
Sandhurst IML Industrial Share Fund 4 December 2023
Sandhurst Strategic Income Fund 4 December 2023

 

As part of the same review, the two funds listed below have not had any changes made to their fees and costs. For the current fees and costs of these two Funds, please refer to the PDS effective as of the dates below:

Fund name Effective date
Adelaide Cash Management Trust 14 September 2022
Bendigo Defensive Index Fund 31 May 2023

 

All Fund PDS's and updated PDS’s are available on the Managed Funds Forms page.

So that you can better understand how fees and costs work please read the support guide for understanding fees and costs disclosure.

Changes to terms and conditions applying to investments in the Sandhurst Investment Term Fund (ITF)

Mon, 06 Nov 2023

If you are an investor in the ITF, you will have received a recent communication from Sandhurst advising you of upcoming changes to the terms and conditions of your investment. These changes will only take effect if you decide to renew or rollover your investment on or after 9 November 2023.

If you decide to renew or rollover your investment on or after 9 November 2023, the new terms and conditions that will apply to your investment will be the terms and conditions that are set out in the current version of the Application Form that can be found on our website at  Bendigobank.com.au/managedfundsforms.

Summary of changes made to the pre-9 November 2023 Application Form

The changes make it clear that:

  • Investments in the ITF are made on the terms contained in the Application Form and the Constitution (or Trust Deed) of the ITF;
  • Sandhurst cannot exclude liability for its fraud or negligence, or that of its employees, agents and receivers;
  • Investors' obligations in connection with Anti-Money Laundering/Counter-Terrorism Financing laws only extend to matters they are aware of;
  • Sandhurst will always exercise its rights as trustee of the ITF in accordance with the law.

If you have any questions, please contact us on 1800 634 969 or visit your nearest Bendigo Bank branch.

Important information about The Bendigo Superannuation Plan

Wed, 27 Sep 2023

On 27 September 2023, Bendigo and Adelaide Bank ABN 11 068 049 178 AFSL 237879 (Bendigo Bank) announced it had signed an agreement to sell Bendigo Superannuation Pty Ltd ABN 23 644 620 128 AFSL 534006 (Bendigo Super) to Betashares Australia Holdings Pty Ltd, subject to certain conditions and regulatory approval.

This decision does not impact the managed funds offered within Bendigo Super, which are looked after by Sandhurst Trustees Limited ABN 16 004 030 737 AFSL 237906 (Sandhurst). Sandhurst continues to be a wholly owned subsidiary of Bendigo Bank.

 

Adelaide Cash Management Trust - changes to fees and charges

Fri, 01 Sep 2023

The transaction service provider for the Adelaide Cash Management Trust, Adelaide Bank, is making changes to the below fees, effective 1 September 2023.

Fee name

Current fee

New fee

Bank@Post Withdrawal $2.55 $4.00
Bank@Post Deposit $2.55 $4.00

Please refer to the Transaction Services Guide and the PDS for more information on all fees and costs.

Cheques are on the way out

Tue, 01 Aug 2023

With the ongoing decline in cheque usage, our transaction service provider, Bendigo Bank, is working towards phasing out cheques.

Australia’s payment landscape is changing. More Australians are leaving behind their chequebooks and choosing simpler, more reliable and immediate electronic payments. This decline has led to Bendigo Bank introducing some changes to the way cheque payments are supported.

The following changes will apply:

For new accounts

  • From 1 August 2023 - cheque books will not be available on new accounts opened by new or existing customers.

For existing accounts - cheque book replacement

  • From 1 September 2023 - we will no longer automatically issue you a replacement cheque book once you exhaust your existing cheque book. If you would like a replacement cheque book you will need to contact us or visit a branch of Bendigo Bank and request a replacement cheque book.
  • From 1 November 2023 - replacement cheque books will no longer be available to order on existing accounts. Customers with existing cheque books will be able to retain these and continue to use as normal until otherwise advised.

Additional Investments

  • From 29 September 2023 - cheques will no longer be accepted for additional investments into the Adelaide Cash Management Trust (ACMT).
  • From 28 October 2023 - cheques will no longer be accepted for additional investments into the Sandhurst Cash Common Fund (CCF).

Alternatively, additional investments can be made by BPAY or direct debit.

Withdrawal Requests

  • From 28 October 2023 - we will no longer be posting cheques for payment of withdrawal requests from the Sandhurst Cash Common Fund (CCF).

Withdrawals can be paid by direct credit to your nominated account. Additionally, you can use online and phone banking, debit cards (for ACMT only) and third party direct debit services of Bendigo Bank. Please refer to the most up to date Product Disclosure Statement (PDS) at the time you are making a withdrawal for more information.

As we move towards the overall removal of cheques as a payment service, we will keep you updated on the timing of any additional changes.

 

Removal of foreign cheques and bank drafts

Tue, 28 Mar 2023

Due to evolving customer preferences, a global decline in the use of paper cheques and fewer in-person foreign cheque and bank draft payment requests, the Bendigo Bank (including Sandhurst Trustees) is making changes to the services we provide as follows:

For new application, deposit or withdrawal on or after 7th April, 2023 we will no longer accept foreign cheque deposits or provide Bank Drafts in any currency. From 30th June 2023, this change will also apply to all existing funds of Sandhurst Trustees. 

Should you have an ongoing need to: 

  • Receive funds from outside of Australia, you can receive payments through an international money transfer (also known as a telegraphic transfer) directly to your Sandhurst fund. The funds will arrive in your account as 'cleared funds' so you will have immediate access, and with e-Banking you can monitor payments from your home or office. 
  • Send funds outside of Australia, you can send payments by telegraphic transfer in Branch or through e-Banking1.
1Refer to the Bendigo Bank website: International Payments for further information about telegraphic transfers. To obtain e-Banking - telegraphic transfers, contact your local Branch or telephone 1800 035 383.

Bendigo and Adelaide Bank acknowledges Aboriginal and Torres Strait Islander peoples as the First Peoples of this nation and the Traditional Custodians of the land where we live, learn and work. We pay our respects to Elders past and present as it is their knowledge and experience that holds the key to the success of future generations.

Bendigo and Adelaide Bank Limited, ABN 11 068 049 178 AFSL / Australian Credit Licence 237879. Any advice provided on this website is of a general nature only and does not take into account your personal needs, objectives and financial circumstances. You should consider whether it is appropriate for your situation. Please read the applicable Disclosure Documents before acquiring any product described on this website. Please also review our Financial Services Guide (FSG) before accessing information on this website. Information on this page can change without notice to you.

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