Adviser updates

OneVue Macquarie CMA Support and 31 July Conversion Process

Dear Adviser,

As you may be aware Macquarie Cash Management Trust (Macquarie CMT) unit holders voted in favour of the Proposal to convert investments in the Macquarie CMT into an at-call Cash Management Account (Macquarie CMA) with Macquarie Bank Limited (MBL).

This conversion is scheduled to occur on the weekend of 31 July 2010, followed by the subsequent winding up of the Macquarie CMT.

Your clients� Macquarie CMA account will be in the same name and have the same functionality, BSB and account number, and will be supported by the same service teams as their existing account.

Important: Macquarie Bank have advised that your clients� Macquarie CMA will also be covered by the Government�s Retail Guarantee for aggregate balances for each investor with MBL up to $A1 million.

OneVue and Macquarie have been working together to ensure this change is seamless for our existing clients while supporting new clients that want to move straight to the Macquarie CMA.

CONVERSION PROCESS AND IMPACT ON CLIENTS

1. Existing Clients holding only a Macquarie CMT:

All active Macquarie CMT accounts (except Excluded Unit Holders) will be converted to a Macquarie CMA on 31 July 2010:

No additional paperwork is required by you or your clients for this conversion to take place on 31 July.
The Account name, BSB and account number remain the same.
All current authorities will remain in place. Clients will not need to reappoint OneVue with debit authority.
OneVue will be able to continue to debit administration and adviser service fees.
OneVue reporting will be updated to refer to the new product name CMA.
There will be no need to update client information with OneVue as this remains unchanged.

Existing clients who choose to transfer before 31 July:

Macquarie CMT to Macquarie CMA transition applications close on 16 July 2010.
Macquarie Adviser Services will provide a new BSB and account number.
All current authorities will remain in place. Clients will not need to reappoint OneVue with debit authority.
OneVue will update the administration system with the new BSB and account number.
Neither OneVue nor Macquarie recommend this option unless absolutely necessary.

Please note: This option may increase reconciliation items and due to the number of manual steps may not be as seamless as allowing the conversion of the CMT account to a CMA on the 31 July.

2. Existing Clients currently holding both Macquarie CMT and CMA accounts:

Our recommendation is that the active Macquarie CMT account be converted to a Macquarie CMA on 31 July 2010:

Clearly clients may close their current CMA at any time prior to 31 July and transfer the funds into the CMT account. However, please note the interest rate is higher on the CMA then the CMT and therefore this may result in a loss of interest.
To avoid any loss of interest, the current CMA should be closed and funds transferred to the �converted� CMA on 2 August.
Closure of the second CMA avoids additional reconciliation items caused by having 2 accounts open for the same client.
Please do not transfer the CMT before 31 July as this will create a new CMA.

To ensure a smooth transition for clients in this situation please contact:

Laura O�Rourke, Business Development Manager, Macquarie Adviser Services Mailto:laura.o'rourke@macquarie.com
OneVue Adviser Services Mailto:service@onevue.com.au

3. New Clients:

New Clients are to open a Macquarie CMA not a Macquarie CMT.

OneVue has completed development to support the Macquarie CMA.
The OneVue application form has been updated to include a Macquarie CMA debit authority form.
OneVue is able to receive data feeds and reconcile the CMA account on a daily basis.
OneVue reporting has been updated to reflect the new product name CMA.
Administration and adviser service fees can be directly debited once the CMA authority form is completed.

If you have any questions or wish to discuss this matter further, please call us on 1300 790 235, working days 8.30 to 5.30 Sydney time. We are here to help.

Yours sincerely,

Rob Chowdhury
Head of Adviser Services

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