mFund

Background

Morningstar Investment Management Australia Limited (‘Morningstar’) wishes to inform investors of the upcoming removal of the following mFund products from the ASX due to the ASX’s decision to terminate the mFund service. On 27 November 2023, ASX released a notice to the market that it had decided to close the ASX Managed Fund Settlement Service (mFund).

In response, Morningstar consulted with the ASX on the available options for investors. On 4 June 2024, Morningstar notified investors via the ASX that our decision was to commence closure of our offering on the mFund service in line with our Product Disclosure Statement (PDS) roll on 31 October 2025, being the latest PDS date prior to ASX’s closure of the mFund service to give investors as much time as possible to manage their affairs.

The removal of these fund products is a direct result of the ASX’s decision to terminate the mFund service. This decision impacts all funds listed under the mFund Settlement Service, including those managed by Morningstar.

Affected Morningstar mFund Products

• Morningstar Multi Asset Real Return Fund (mFund Code: IBB13)
• Morningstar High Growth Real Return Fund (mFund Code: IBB12)
• Morningstar Growth Real Return Fund (mFund Code: IBB11)
• Morningstar Balanced Real Return Fund (mFund Code: IBB10)
• Morningstar Moderate Real Return Fund (mFund Code: IBB09)
• Morningstar International Shares (Unhedged) Fund (mFund Code: IBB01)
• Morningstar International Shares (Hedged) Fund (mFund Code: IBB04)

Key Dates

• ASX Investor Notification date: On 4 June 2024, notified investors of Morningstar’s decision with respect to the funds on the mFund service.
• mFund Profile Update: Fund status was updated to “Closed to new Investors, Open to existing investors applications and redemptions” from 30 June 2024.
• Blackout Period: 24 October 2025 is the last day for applications and redemptions via mFund Settlement Service.
• Fund Removal Date: On 31 October 2025, Morningstar funds will be withdrawn from the mFund service and the respective PDS will no longer make mention of mFund.

Your Options

Existing investors will have the following 2 options for managing their current holdings:

1. Investors will be unable to make applications or redemptions via the mFund Settlement Service after 24 October 2025, therefore you can either redeem your fund units prior to 24 October 2025 via the mFund platform; or
2. Take no action and await the closure of the funds on mFund on 31 October 2025. At that point your fund units will be automatically converted into an Issuer Sponsored holding referenced by your MUFG Account Number (displayed at the beginning of this letter), your holdings will be locked and you will not be able to transact on your holdings. In order to access the holdings, you will need to complete the form called “Client Identification Form (for existing mFund Investors)” available on the Morningstar website at https://morningstarinvestments.com.au/mfundcif and submit all required identification documentation as outlined in the form.

2. • Please note: You can commence completing the Client Identification Form prior to 31 October 2025 to ensure, that once the fund units are converted into an Issuer Sponsored holding on 31 October 2025, you will be able to transact immediately.

Your decision on which option to take will be driven by your personal financial circumstances and you should consider seeking professional financial and tax advice.

Our Commitment to Investors

Morningstar remains dedicated to offering high-quality investment solutions and will provide comprehensive support to investors throughout this transition. Our customer service team is available to assist with any inquiries.

We’re here to help

If you have any questions, please contact our Customer Service Team:

• Phone 1800 951 999 (Toll Free)
• Email: [email protected]