Income stream frequently asked questions

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Question

How long does it take to process an investment switch for a current account balance?

Answer

The Trustee of First State Super has a policy of processing an investment switch three business days after receipt of a valid request.
  • Daily unit pricing requires daily balancing of each of the Fund's 11 investment options as well as daily movement of monies between assets classes. At First State Super thousands of daily transactions occur which take time to process and accurately allocate to asset classes.

  • Once the administrator has received a member's investment option switch form, the form is subject to verification and in paper-based cases, an identification process, making sure it is a genuine instruction from the member and that the instructions are clear and complete.

  • The Trustee will then give notice to investment managers to sell certain assets and buy other assets (i.e. trade assets).

  • The switch is then processed three business days after the receipt of your request and using the unit prices applying to the third business day.

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