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IOOF is moving to a single multi-manager offering in order to achieve a simple and efficient investment model across the IOOF group. As a result, the United Sector Leaders Funds will no longer be offered to investors and the IOOF MultiMix Trusts will take their place.

• Click here for further details if you’re invested in the AustChoice Investment Service
• Click here for further details if you’re invested in AustChoice Super

If you would like any further information regarding these changes, please speak to your adviser or call our client services team on 1800 333 900.

Effective 30 June 2011, the name displayed for all United Cash Management options within AustChoice Super was streamlined through an investment switch into the RMP Cash Management Fund Super or Pension option (as appropriate). Although a buy and sell transaction has occurred, this switch had no effect upon the underlying investment, fees or interest generated within member accounts.

According to the Treasurer, the Budget is getting ‘back in the black’ in 2012/13 - a reference which did create some disturbing mental images during the Budget speech (imagining the Treasurer playing air guitar to AC/DC). Other than some tax initiatives from the Henry Review (changes to fringe benefits tax (FBT) treatment on cars), the removal of low income tax offset for children, support for families with teenagers and welcome tax concessions for disability income trusts, there wasn’t a huge amount in it for financial services.

Download our Federal Budget Update for Advisers