How to Redeem

Before you Redeem

Please read the following important points about the redemption process:

• There may be tax consequences associated with a redemption from the fund. You should always seek professional financial and tax advice before deciding whether to redeem from the fund.
• The minimum redemption amount is A$10,000
• Partial redemptions cannot be made if the net asset value of the Investor's Units (after processing the redemption) falls to below A$50,000
• For joint accounts, all applicants must sign the Redemption Form
• The fund deals every week on a Thursday (the Dealing Day)
• The deadline for receipt of redemption forms is 2pm (Australian Eastern Standard Time) on a Dealing Day
• Redemption proceeds can only be paid into the bank account nominated at the time of your subscription, as specified in section 4 of the fund's Application Form

The Redemption Process

To make a redemption from the Orbis/SM Australia Equity Fund:

• Complete all relevant sections of the Redemption Form. This can be found on page 37 of the fund’s Product Disclosure Statement (PDS)
• Indicate your choice by marking boxes with a where applicable
• Ensure the Redemption Form is signed (section 3)
• Fax or post your Redemption Form to:
  State Street Australia Limited
  Unit Registry Services
  Level 7
  State Street Centre
  338 Pitt Street
  Sydney NSW 2000
  Facsimile: +61 2 9323 6411 or +61 2 9323 6420
• Payment of funds will generally be available within 7 Business Days after the Dealing Day