Updating the information in the SuperWrap Product ...

1 BT80058-1018cxUpdating the information in the SuperWrap Product Disclosure Statement1 November 2018 This update, dated 1 November 2018, relates to the SuperWrap Product Disclosure Statement (as updated or supplemented) (PDS). This update is issued by BT Funds Management Ltd ABN 63 002 916 458 AFSL No. 233724, the trustee and issuer of SuperWrap , and should be read together with the PDS and Additional information Booklet (as updated).The Australian Financial Complaints Authority ( AFCA ) replaces the Superannuation Complaints Tribunal from 1 November 2018. The PDS is updated to reflect this change. Changes to the PDS effective from 1 November 2018 The information in the section titled What should you do if you don t receive a response or you re dissatisfied with the Trustee s response?

2 Is deleted and replaced with the following:If you are dissatisfied with the Trustee s response (or have not received a response within 90 days), you may escalate your complaint to the Australian Financial Complaints Authority ( AFCA ) by:Calling: 1800 931 678 Emailing: Writing to: Australian Financial Complaints Authority GPO Box 3 Melbourne VIC 3001 Visiting its website: is an independent body, set up to assist customers in the resolution of complaints relating to members of the financial services industry including super funds. Super | Insurance | Investment | AdviceThis Supplementary Product Disclosure Statement ( SPDS ) is dated 30 September 2017 and supplements the Product Disclosure Statement ( PDS ) and any other SPDSs for SuperWrap .

3 This SPDS is issued by the trustee of SuperWrap (BT Funds Management Limited ABN 63 002 916 458 AFSL 233724) and should be read together with the PDS. To the extent of any inconsistency, this information prevails over any information previously disclosed to you on the same subject SPDS provides updated information in relation to: >the Distributor >changes to superannuation law >listed securities >overseas retirement benefits >the closure of the Voice Response Service >fees and other DistributorWithin the About the PDS section, the text under About the Distributor is replaced with: SuperWrap is distributed by BT Funds Management Limited ( the Distributor ) ABN 63 002 916 to superannuation lawWithin the How super is taxed section, the information below Tax on earnings is replaced with the following:Investment earnings and capital gains in SuperWrap are generally: >taxed at a maximum rate of 15% in the Personal Super Plan and the Non-commutable pension, but the actual rate may be lower >tax free in the Pension Plan (except for the Non-commutable pension).

4 Within the How super is taxed section, the footnote below the table titled Tax treatment on payments to you before your 60th birthday is replaced with:1 The low rate cap (or lifetime limit) may change from time to time. Up to date information is available at the Benefits and features section, under the What are the main SuperWrap features? heading, the row titled Anti-detriment payments4 in the table is the Benefits and features section, the following footnote beneath the What are the main SuperWrap features? table is removed:4 Refer to Death benefit Tax savings amount (Anti-detriment amount) within the Booklet for further SuperWrapSupplementary Product Disclosure Statement 2 Listed securitiesWithin the Benefits and features section, under What can you do with SuperWrap ?

5 , the text under the Listed securities heading is replaced with: SuperWrap allows you access to securities in the S&P/ASX 300 including: >direct shares >listed property/investment trusts >listed debt securities >exchange-traded funds ( ETFs ) >CHESS depositary interests ( CDIs ).Other securities, including derivatives, may be added or removed at the Trustee s retirement benefitsWithin the Benefits and features section, under the 5_Easily consolidate existing super into your SuperWrap account heading, the second paragraph is replaced with the following:Transfers of overseas retirement benefits, other than amounts from KiwiSaver accounts, may also be accepted subject to the laws in the country where the benefits are held and superannuation law.

6 You should seek professional advice before initiating a transfer of overseas retirement benefits. Within the Benefits and features section, under the What are the main SuperWrap features? heading, the row titled Transfer your overseas super in the table is replaced with the following: Transfer your overseas retirement benefitsYou may be able to transfer your overseas retirement benefits, which may be accepted subject to the laws in the country where the benefits are held and superannuation law. Refer to the Additional information Booklet for more information on overseas sourced transfers or closure of the Voice Response ServiceWithin the Benefits and features section, under the What are the main SuperWrap features?

7 Heading, the row titled Telephone service is the Fees and other costs section, in the table under the Changes in fees and other costs section, the row titled VRS fee is other references to the Voice Response Service , VRS or telephone service are and other costsThe shaded box at the beginning of the Fees and other costs section, is replaced with:DID YOU KNOW?Small differences in both investment performance and fees and costs can have a substantial impact on your long term returns. For example, total annual fees and costs of 2% of your account balance rather than 1% could reduce your final return by up to 20% over a 30 year period (for example, reduce it from $100,000 to $80,000).

8 You should consider whether features such as superior investment performance or the provision of better member services justify higher fees and may be able to negotiate to pay lower fees. Ask the fund or your financial FIND OUT MOREIf you would like to find out more, or see the impact of the fees based on your own circumstances, the Australian Securities and Investments Commission ( ASIC ) website ( ) has a superannuation calculator to help you check out different fee Within the Fees and other costs section, the Fees and other costs table is replaced with the following:Fees and other costs tableType of feeAmountHow and when paidInvestment feeNilNot Trustee does not charge an Investment fee.

9 However, fees and costs will apply in relation to the underlying investments available through SuperWrap . Refer to the Additional explanation of fees and costs section in the Booklet for further fee1_Account keeping fee (tiered amount)A tiered percentage fee, which means that a separate percentage applies to each tier of your account balance. The percentage reduces for higher balances as detailed in the table balanceFee rate$0 - $100, pa$100,001 - $250, pa$250,001 - $1,000, pa$1,000,001 - $2,000, paBalance over $2,000,000 NilThe Account keeping fee (tiered amount) is calculated on the average of your opening and closing account balance1 for the month (or part of a month where you exit SuperWrap ) and excludes the amount held in your Cash Account keeping fee (tiered amount) is deducted from your Cash Account on a monthly basis (or on closure of your account) in keeping fee (tiered amount)

10 For related accountsAccount balanceFee rate$0 - $100, pa$100,001 - $250, pa$250,001 - $1,000, pa$1,000,001 - $2,000, paBalance over $2,000,000 NilThe Account keeping fee (tiered amount) forrelated accounts is calculated and deductedin the same manner as the Account keeping fee (tiered amount).You may be eligible to group your account with other accounts in which case the fee percentages set out in the Account keeping fee (tiered amount) for related accounts table will apply to your account instead of the Account keeping fee (tiered amount) table. Refer to Related account pricing under Additional explanation of fees and costs in this PDS for further feeAccount balanceFee rate$0 $2,000, paBalance over $2,000,000 NilThe Issuer (Trustee) fee is calculated on the average of the opening and the closing account balance1 for the month (or part of a month where you exit SuperWrap ) and includes the amount held in your Cash Account.