Important notice to Investors

Advice regarding attribution managed investment trust and changes to the distribution methodology for the Maple-Brown Abbott Australian Equity Trust


22 June 2018

Maple-Brown Abbott Australian Equity Trust (ARSN 091 136 266)

Maple-Brown Abbott Limited (MBA) ABN 73 001 208 564 is notifying investors of the Maple-Brown Abbott Australian Equity Trust (AET) that the Fund has elected to become an attribution managed investment trust (AMIT) effective from 1 July 2017 and will be changing its distribution methodology with effect from 1 July 2018.

Election into the AMIT Regime

From 1 July 2016 a new tax system applies for certain managed investment trusts (MITs) which include new rules for the taxation of eligible managed investment schemes.

The AET has elected to become an AMIT for the financial year ending 30 June 2018.

The reasons and benefits of electing into the MIT Regime are available at maple-brownabbott.com.au/Funds/ContinuousDisclosureAMIT.

Change in distribution methodology from 1 July 2018

The AET’s constitution permits the distribution and unit pricing methodology to change. Prior to the change, the AET’s distribution methodology provided that on each business day there is a calculation of the Fund’s net taxable income and this amount is allocated proportionally to each unitholder in their provisional distribution account, with the unit price reflecting the capital value of the Fund excluding the aggregate amount held in the provisional distribution accounts. The quarterly balance of each investor’s provisional distribution account is distributed to each investor at the end of each quarter.

The distribution methodology will be changed so that the income is only calculated, allocated and paid at the end of each quarter bringing the AET in line with standard industry practice and the methodology applicable to MBA’s other funds.

As a result of the change in distribution methodology, the unit price calculated during the quarter will include the net income, which will be allocated and distributed at quarter end. Distributions may be adjusted due to the timing of when income is, or is expected to be, received by the Fund.

AMIT member annual statement

Investors will receive an AMIT Member Annual (AMMA) Statement after the end of each financial year, which will show the income and any realised net capital gains attributed to the investor for that particular year. For tax purposes, the investor will be required to include the amounts of income and realised net capital gains attributed to them as disclosed on the AMMA Statement in preparing their tax return.

What do members need to do?

Members should note the change in distribution methodology and, if necessary, seek tax advice to assess the impact on their circumstances.

You do not need to respond to this notice.

If you have any questions about the Modifications, please contact your tax adviser or contact us on 1800 885 175.