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mFunds

Due to new legislation, we're making changes to our mFunds product offering.

You won’t be able to buy mFunds on nabtrade

From 4 August 2021 mFunds Buy orders on nabtrade will not be processed.

You’ll receive a warning message when you try to place mFunds Buy orders on the nabtrade order pad.

We will continue to support your existing mFund holdings

We will continue to allow you to hold any existing mFund investment on nabtrade, including the facilitation of mFund sell orders.

We will notify you if this changes.

Frequently asked questions

The Government has introduced new Design and Distribution Obligations (DDO) from 5 October 2021 which require (amongst other things):

  • product issuers to make, publish and review a target market determination for financial products i.e. determining who the product is appropriate for; and
  • product distributors (like nabtrade) to take reasonable steps to distribute the financial products within that target audience.

As a product distributor, nabtrade is unable to provide target determinations for all ASX mFunds available on the platform or limit distribution to only clients within that target audience. As a result nabtrade will no longer be able to accept mFund Buy orders.

You don’t need to do anything. From 4 August 2021 you simply won’t be able to submit any mFund buy orders on nabtrade.

No, you don’t have to sell or transfer existing mFunds holdings. We will continue to allow you to hold any existing mFunds investments acquired prior to 4 August 2021 on nabtrade, and the sell functionality will still be available.

Disclaimer
nabtrade is the information, trading and settlement service provided by WealthHub Securities Limited ABN 83 089 718 249 AFSL No. 230704. WealthHub Securities is a Market Participant of under the ASIC Market Integrity Rules and a wholly owned subsidiary of National Australia Bank Limited ABN 12 004 044 937 AFSL No. 230686 (NAB). NAB doesn’t guarantee its subsidiaries’ obligations or performance, or the products or services its subsidiaries offer. This website contains general advice only and has been prepared without considering your objectives, financial circumstances or needs. Before acting on any general advice or information on this page, you should consider the appropriateness of the general advice or information with regard to your objectives, financial circumstances or needs.