What happens now?
The Fund traded on the ASX up until close of market on 11 June 2024. Trading was then suspended for 3 days and the Fund delisted on 14 June 2024.
Unitholders can now buy and sell units by logging into their Automic account provided that they have completed the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) identification forms. A link to complete AML/CTF documentation (if required) will be sent out in the Fund Welcome email.
What do I need to do as an investor?
Now the Fund is delisted, if you were previously invested with a HIN number you will be issued a new Securityholder Reference Number (SRN) which becomes your ID for the Forager Australian Shares Fund. Those with an SRN will keep the same SRN upon delisting. Welcome emails with new SRN numbers will be distributed w/c 17 June 2024. If you have been issued with a new SRN, you will need to re-link this within your Automic account. Instructions on how to set up an Automic account and link investments can be found here.
Investors will also need to complete AML/CTF identification declarations (see below for more detail on this) – a link to do this was sent out by Automic on Monday 24 June. Please note that if this is not completed, investors may be subject to withholding tax on the distribution.
Investors will also need to update their Distribution Reinvestment Plan (DRP) preferences.
How do I view my investment once the Fund is delisted?
Once the Fund is delisted, you will be able to access your holdings through Automic in the same way you do now. If you have been issued a new SRN, you will need to link this to your existing Automic account through the “Add Holding” button on the top right hand side of the portfolio screen.
If you don’t already have an account with Automic, you can set one up following the instructions here.
Where will I be able to see unit prices after delisting
Unit prices will continue to be displayed on Forager’s website here.
How do I buy or sell units following delisting?
Following receipt of the welcome email, you will be able to top up your holding in the Fund by logging into your Automic account and selecting “Top Up”. You will also be able to redeem your holding through Automic. Applications and redemptions will be priced daily. Please note that there is a transition fee on redemptions for the first six months following delisting. This is detailed in the Explanatory Memorandum.
How do I opt into the Distribution Reinvestment Plan (DRP)?
Once delisted, the DRP will become active again. Investors wishing to participate in the DRP can log into their Automic Account and select “Reinvestment Plans” next to their Forager Australian Shares Fund holding. Then follow the prompts to confirm the DRP selection.
How do I complete any Anti-Money Laundering and Counter-Terrorism Financing requirements?
In order to comply with Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) legislation, Unitholders remaining invested in the Fund after de-listing must complete a Transition Identification Form to apply for new Units, redeem existing Units and participate in the distribution reinvestment plan after the Fund is delisted.
Please note that investors already invested in the Forager International Shares Fund in the same entity will not be required to complete AML/CTF for that entity.
Investors who are required to complete AML/CTF documentation will be asked to do so following the delisting through the welcome emails.
What if I hold my units with Interactive Brokers?
If your units are held with Interactive Brokers, you will need to contact them and fill out a form which permits the transfer of the units to your personal investing entity.
Will the delisting be treated as a sale for capital gains purposes?
When it comes to questions about tax, it is best to speak with a financial adviser or tax adviser. However, the delisting should not be a tax event for the majority of investors.