Product updates

We commenced winding up the Colonial First State mortgage funds and options referred to below (together the 'options') some time ago. Since then, we have made termination payments/transfers when sufficient proceeds have become available from the options' assets.

One of the options' underlying mortgage assets suffered a loss and we were involved in a litigation to recover money for that loss. This has been a complicated and lengthy process as we've sought to attain all possible value from the options' assets. We are pleased to confirm this process is now coming to an end and we expect to make final payments or transfers, as applicable, in the Mortgage Income Funds in August 2016 and the Wholesale Income Fund in September 2016.

These Colonial First State Mortgage Income Funds were terminated on 1 March 2010 (the termination date):

• Colonial First State Mortgage Income Fund - Entry Fee Option
• Colonial First State Mortgage Income Fund - Nil Entry Fee Option

The previous payment to investors in December 2014 brought the total of the payments made to investors throughout the winding up process to 100% of the value of their account balance in each Fund as at the termination date.

Investors should include the amount of the final payment received in August 2016, which represents the final payment from the winding up of the Fund, as part of the 'Total current year capital gains' in their 2016/2017 income tax return. This amount will be subject to a CGT discount (up to 50%) depending on an investor’s personal circumstances.

The following funds and options were terminated in September 2012.

Investments:

• FirstChoice Investments - Colonial First State Income
• FirstChoice Wholesale Investments - Colonial First State Income (also known as Colonial First State Wholesale Income Fund)

Super and pension:

• FirstChoice Personal Super - Colonial First State Income
• FirstChoice Wholesale Personal Super - Colonial First State Income
• FirstChoice Pension - Colonial First State Income
• FirstChoice Wholesale Pension - Colonial First State Income
• FirstChoice Employer Super - Colonial First State Income

The following options were terminated in November 2012.

Super and pension:

• Rollover and Superannuation Fund - Income option
• Rollover and Superannuation Fund - Income Option Nil Entry Fee
• FirstChoice Wholesale Personal Super - Colonial First State Income

If you would like more information on any of the terminated funds and options, please contact your financial adviser or call us on 13 13 36, Monday to Friday, 8:30am to 6pm, Sydney time.