Pengana Capital Limited (Pengana) (ABN 30 103 800 568, AFSL 226 566) is the issuer of units in TermPlus (ARSN 668 902 323).  Any advice provided is general in nature and does not take into account your particular objectives, financial situation or needs.  You should consider the PDS and TMD available at www.termplus.com.au before investing in TermPlus.

Making an investment is an important decision and, before making any decision to subscribe to TermPlus, you should always:

• conduct your own research;
• make sure you understand TermPlus including its features, how it works, benefits, risks and cost;
• obtain independent legal, financial, taxation and/or other professional advice; and
• make sure you always read the applicable disclosure.  

Pengana is not authorised as an Approved Deposit-Taking Institution (ADI) under the Banking Act 1959 (Cth) and is not supervised by the Australian Prudential Regulation Authority.  Investing in TermPlus is not the same as depositing money with an ADI.  Unlike ADIs, any investment in TermPlus will not be covered by the financial claim scheme (also known as the Government Bank Guarantee) established under the Banking Act 1959 (Cth), which covers deposits up to A$250,000 per depositor per ADI.

Any forecasted returns may not reflect actual performance and past performance is not a reliable indicator of future performance

Any reference to a target rate is a reference to the investment objective for the relevant account option in TermPlus.  The investment objective is determined by adding the RBA rate (which may go up or down) and an additional rate.  Importantly, target rates are not guaranteed.  See the PDS for more detail.

Pengana (and its related bodies corporate) do not guarantee the performance of, or the repayment of any capital or income reinvested in TermPlus.

TermPlus includes three layers of account protection as an added feature.  For every dollar a customer invests, we invest 5% to fund a support account in TermPlus to provide added stability and reliability to TermPlus customers.  Importantly, these layers of protection are not any type of guarantee or separate product provided by Pegana.  See the PDS and Layers of Protection for more detail.  As with all investment products, any investment in TermPlus is subject to investment risk.  If any of these risks eventuate, investors may lose some or all of their capital invested, or income re-invested in TermPlus.  Withdrawals from TermPlus are also subject to available liquidity and may be delayed or suspended.  See the PDS for more information about risks.  There may be other risks relevant to you that are not detailed in the PDS.  It is important that you also consider these other risks and your own risk profile before you make any decision to invest in TermPlus.  If you are unsure, you should consider obtaining your own financial advice before investing in TermPlus.

Mercer Consulting (Australia) Pty Limited (ABN 55 153 168 140 AFSL 411770) acts as the investment consultant and more information on their involvement can be found in the PDS.