On 21 February 2018 Colonial First State Global Asset Management (CFSGAM) announced that they will be closing their Australian core equities and global resource capabilities which includes these funds:
- Colonial First State Wholesale Industrial Share Fund - Core
- Colonial First State Wholesale Global Resources Fund
- Colonial First State Wholesale Geared Australian Share - Core
- Colonial First State Wholesale Australian Share - Core
A number of these funds are underlying funds on CFS platforms (FirstChoice* and FirstWrap) and we are reviewing the impact of the changes and assessing an appropriate alternative for each of these funds/options.
The CFS Balanced, CFS Diversified or CFS High Growth funds are also impacted as they have investments in the funds/options. These funds are available through FirstChoice, MIF, ROSCO, PPP and PST.
No other Colonial First State (CFS) funds are impacted by this change and you do not need to take any action.
CFSGAM’s primary responsibility is to continue to manage portfolios in accordance with the agreed investment objectives and guidelines in the best interests of investors. As such, senior portfolio managers from each of the impacted investment teams will be retained to ensure each of the funds/options above will be continued to be invested according to their investment objective and strategy. David Dixon, Chief Investment Officer, Equities will be ultimately responsible for the funds/options over this period.
We will inform you as soon as practicable when any changes are made.
*FirstChoice includes FirstChoice (Wholesale and Retail) Investments, Super and Pension.
If you are invested in any of these funds / options or have any questions regarding the changes, please speak to your financial adviser or call us on 13 13 36, Monday to Friday, 8am to 7pm Sydney time.
If you are a financial adviser please contact your CFSGAM Business Development Manager.