Financial Services Guide
This Financial Services Guide ("FSG") is an important document. It is designed to assist you in deciding whether to use any of the financial services and products offered by Montgomery Investment Management Pty Ltd ABN 73 139 161 701. As an Australian Financial Services Licensee (AFSL no. 354 564), we are required to provide you with this FSG.
This FSG provides you with important information about:
- The types of services and products we can offer to you
- How we (and other relevant persons) are remunerated for these services and products
- Our external complaints handling procedures and how you can utilise them
- How you can contact both us and our responsible entity, Fundhost Limited
This FSG is designed to help you understand our services and products before you use them or invest in them. Montgomery Investment Management ("Montgomery") operates an outsourced service provider model, which allows the key personnel to to concentrate their time and energy on portfolio management, the discovery of stock opportunities and the communication with unit holders of The Montgomery Fund. Fundhost Limited ("Fundhost") acts as the responsible entity and provides services including compliance, administration, and reporting services to Montgomery.
You will receive other disclosure documents as well if you use some of our products and services. You should read them carefully and consult with your licensed financial adviser if required.
Information about us
Any financial services offered are provided by our representatives. We are part of Montgomery Investment Management, an investment management group based in Sydney, Australia. Montgomery was formed in 2010.
We do not act as a representative of any other licensee in relation to the services we provide you.
Our financial services and financial products
We are authorised to provide the following financial services with respect to the following financial products:
Giving general advice and dealing in, amongst other things:
- Foreign exchange contracts; and
- Managed investment schemes (excluding investor directed portfolio services)
- Fundhost Limited operates Montgomery's managed investment scheme as the responsible entity. These managed investment schemes may hold:
- Derivatives; and
- Financial assets
National Australia Bank operates and provides custodial services or depository services to our managed investment schemes.
We are authorised to provide financial services to retail and wholesale clients.
Product Disclosure Statement (PDS)
Before you can invest in one of our retail financial products we are required to provide you with a PDS. The PDS contains important information regarding the features, benefits, risks and fees applicable to an investment in that financial product, and should be read carefully to enable you to make an informed decision about whether to invest in the financial product.
Statement of Advice (SOA)
A SOA will normally be given to you when you are provided with any personal advice, which takes into account your objectives, financial situation and needs. We do not provide personal advice. Therefore, we will not provide you with an SOA. An intermediary (such as a financial planner, stockbroker or dealer group) may provide you with an SOA.
Fundhost will seek to ensure that comprehensive and accurate records of all transactions and investments undertaken, and documentation executed, are properly maintained.
Remuneration or other benefits received by us
If you invest in a financial product we provide, we will receive remuneration in relation to your investment in the financial product. This remuneration may include management fees (which may include transaction, ongoing and, if applicable, any borrowing costs). Withdrawal fees and transaction fees may apply. We may also be entitled to recover expenses incurred on behalf of the financial product or service. The remuneration and expense recoveries we will receive will be set out in the financial product's PDS.
We do not receive any fees, nor do we charge you additional fees, for providing financial product advice.
Financial advisers and intermediaries may also receive fees by you and typically, this will be disclosed in their SOA. No commission will be paid by us to financial advisors.
Remuneration or other benefits received by Montgomery Investment Management
Our employees who give you general advice do not receive specific payments or commissions for the giving of that advice. These employees and our directors receive salaries, bonuses and other benefits from us.
Bonus payments and other benefits are discretionary, and based on achievement of predetermined objectives.
You may receive advice in relation to the products we offer from financial advisers that do not work for us. These advisers do not receive any commission from us. The adviser’s remuneration is added to the fees you may pay when investing in our products. Our fees plus those fees for Fundhost's services including responsible entity, compliance, administration, custodian oversight and reporting services is set out in the PDS for the financial product. Your adviser is also required to set out the remuneration they receive in their FSG and SOA which they must give to you.
Various members of Fundhost and Montgomery and their directors and employees provide certain financial, information technology, human resource and other services to us to enable us to provide the services described in this FSG. They will not be separately remunerated by you. The costs of providing these services will be paid by us from the fees we receive. Investors in our products will not pay a separate fee for these services.
Remuneration or benefits paid to other parties
Where you have been referred to us via a third party IDPS platform, we may pay a rebate to that IDPS platform provider.
Fundhost and Montgomery have professional indemnity insurance cover in place in respect of financial services provided to our clients. This insurance covers claims in relation to the conduct of our past and present representatives. These arrangements comply with the requirements of section 912B of the Corporations Act 2001.
Disclosure of relevant conflicts of interest
We do not have any relationships or associationships which might influence us in providing you with our financial products and services.
Your right to privacy is important to Fundhost and us. A statement explaining your privacy rights and our rights and obligations in relation to your personal information is contained in the PDS for each of our financial products.
Fundhost has established procedures for dealing with complaints. In the first instance, you can make a complaint by calling +61 2 8223 5400 or by writing to Fundhost Limited, PO Box N561, Grosvenor Place, NSW 1219, Australia. Fundhost will acknowledge your complaint within 45 days of receipt. Complaints will be investigated with the aim to provide a response (if not a resolution to the complaint).
If you are ultimately dissatisfied with the outcome of your complaint you may refer the matter, free of charge, to the Financial Ombudsman Service (FOS), which is an external dispute resolution scheme. The contact details for FOS are:
Phone: 1300 780 808
Mail: Financial Ombudsman Service, GPO Box 3, Melbourne VIC 3001
Montgomery Investment Management Pty Ltd