IMPORTANT NOTICE: Please note that the Product Disclosure Statement (PDS) for the RARE Infrastructure Value Fund - Hedged has been combined with the PDS for the RARE Infrastructure Value Fund - Unhedged, Issue Number 1 dated 30th-June-2011. The RARE Series Infrastructure Value Fund and the RARE Series Emerging Markets Infrastructure Fund will also moved  to a new Product Disclosure Statement (Issue 3, dated 30th-June-2011). Any applications submitted on or after this date must be completed on the new application form.

Please click here to view changes to the transaction costs (buy/sell spreads) for the RARE Pooled Funds, effective for any applications and redemptions received from Monday 12th December 2011.

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Changes to Transaction Costs (Buy/Sell Spread)

Analysis of Buy/Sell Spread

The buy/sell spread represents our estimate of the actual costs of investing application monies or divesting to fund redemptions. The purpose of the buy/sell spread is to compensate a Fund for transaction costs incurred so that existing unit holders are not diluted by investors applying for or redeeming units in a Fund.

RARE undertakes analysis of the actual buy/sell transaction costs associated with an application into or redemption from a Fund. The buy/sell spread of each Fund is sensitive to:

The portfolio weighting to different markets;
The stamp duties and value added taxes in each market;
Broker commission rates; and
Ad hoc taxes/duties resulting from exchange rate control measures introduced in various markets.

On the basis of the analysis undertaken as at December 2011, RARE will be implementing the following changes to the buy/sell spread (otherwise referred to as the Sales Charge and Redemption Fee in the Simplified Prospectus for the TG RARE Infrastructure Fund) for the below RARE Funds to be effective for any applications and redemptions received/priced from Monday 12 December 2011 onwards:

Fund Previous Buy Spread Previous Sell Spread New Buy Spread New Sell Spread
RARE Infrastructure Value Fund – Hedged/Unhedged 0.45% 0.25% 0.25% 0.20%
RARE Series Infrastructure Value Fund – Hedged 0.45% 0.25% 0.25% 0.20%
RARE Series Emerging Markets Infrastructure Fund 1.05% 0.30% 0.30% 0.30% (no change)
Fund Previous Sales Charge Previous Redemption Fee New Sales Charge New Redemption Fee
TG RARE Infrastructure Fund 0.45% 0.25% 0.25% 0.20%