VanEck

We are making investing in our ETFs easier

The Offer

In June 2015 VanEck launched three funds on ASX offering CHESS Depositary Interests ('CDIs'):

The CDIs give ASX investors cost effective access to:

» VanEck's NYSE listed ETFs on ASX, some of the largest and most liquid ETFs in the world;
» Trading of VanEck's leading ETFs on ASX during Australian trading hours and in Australian dollars; and
» Established investment opportunities and exposures that are not available elsewhere.


Now we are making it even easier for investors

VanEck is restructuring the CDIs and replacing them with new Australian funds.

VanEck is making an Offer to CDI Investors to exchange their CDIs for units in the new Australian funds on a 1:1 basis. The Offer is open until Friday 4th October 2019.

What CDI Investors need to do:

To remain invested CDI Investors need to accept the Offer from VanEck to exchange their CDIs for units in the new Australian funds and must provide their transfer instructions by no later than 5pm 4 October 2019.

The Offer should be read with the Supplementary Product Disclosure Statement (CDI Supplementary PDS) for the CDIs and Product Disclosure Statement (PDS) for the new Australian funds.

The proposed changes will have no impact on CDI investors’ investment exposures and management fees and costs.

If you do not transfer your holdings to the new Australian funds your investment will be sold and your money returned to you in December 2019 less brokerage and foreign exchange costs.

What are the key benefits of the new funds?

The benefits to investors include:

  • No US tax forms (known as "W-8BEN" forms);
  • No US Estate Tax implications;
  • A Dividend Reinvestment Plan (DRP) will now be available;
  • Continued access to some of the largest and most liquid ETFs in the world;
  • An overall investor experience aligned to VanEck's other ASX listed ETFs.

Most importantly, the changes will have no impact on your investment exposures or management fees and costs.
After the restructure the ASX trading codes will not change.

The changes relate to the following VanEck Vectors ETFs

VanEck Vectors Morningstar Wide Moat ETF

VanEck Vectors ChinaAMC CSI 300 ETF

Key Dates

Friday 30
August 2019

Announcement on ASX for Investors in GDX, MOAT and CETF.

Letter of Offer sent to  (CDI Investors) for GDX, MOAT and CETF.

CDI Investors will be sent the Letter of Offer via their preferred communication method (a copy can be found here), please contact Link Market Services on 1300 68 38 37 if you have not received your copy.

Friday 4
October 2019
Last day to provide your transfer instructions. CDI Investors need to have provided their transfer instructions no later than 5pm.
Tuesday 8
October 2019
Last day of trading of CDIs for GDX, MOAT and CETF on ASX.
Friday 11
October 2019

For those CDI Investors who have taken up the Offer:

The CDIs will be exchanged for units in the new Australian funds on 1:1 basis prior to the open of trading on ASX.

You can continue to buy and sell GDX, MOAT and CETF on ASX through your broker via the new Australian funds.

For those CDI Investors who have not taken up the Offer:

CDIs will be delisted and removed from trading on ASX.

Tuesday 17
December 2019

Friday 20
December 2019

For those CDI Investors who have not taken up the Offer:

Any remaining CDIs will be sold down with payment proceeds distributed to investors who did not elect to exchange their CDIs for units in the new fund(s). Costs of the sale will be deducted from the sale proceeds.

Frequently Asked Questions

A CDI is the instrument developed by a subsidiary of ASX that gives investors the same beneficial interests in foreign companies and funds as holding these shares and funds directly on their foreign exchange. CDIs are available on ASX.

CDIs are only currently used for three of VanEck's US ETFs so Australian investors can access these US listed ETFs on ASX: GDX, MOAT and CETF.

This means that when you buy shares in these US ETFs on ASX you receive CDIs in your brokerage account on a 1:1 basis.

The above funds are principally listed on the New York Stock Exchange (NYSE).

Without CDIs, shares in these US ETFs cannot be settled via the ASX CHESS electronic transfer and settlement system which means these funds could not be traded on ASX.

We are replacing the US ETFs with new Australian funds that will invest in the US ETFs, giving investors the same exposure.

The Offer is necessary to replace the CDIs with Australian funds

There are a range of key benefits to CDI investors click here

If you accept the Offer there are no costs associated with the process of converting to the Australian funds and no additional fees and charges when they are converted. Importantly, there has been no change to the management costs of the funds.

If you do not accept the Offer, your remaining CDIs will be sold and your money returned to you in December 2019 less brokerage and foreign exchange costs.

If you complete the Transfer Form online you will receive a confirmation via email. If you send your Transfer Form via post you will not receive a confirmation and will need to contact us on 1300 68 38 37 between 8:30 am and 5:00pm (AEST), Monday to Friday to confirm receipt.

Any remaining CDIs will be sold down and proceeds less brokerage and foreign exchange costs distributed to investors who did not elect to exchange their CDIs for units in the new Australian fund(s). The sale will occur on or about 17th December 2019 and net proceeds will be paid in or about late December 2019.

Please speak to your financial adviser or stock broker or contact us on 1300 68 38 37 between 8:30 am and 5:00pm (AEST), Monday to Friday.

Australian tax law provides ‘roll-over relief’ from the imposition of CGT when one security is exchanged for another security. The roll-over relief allows investors to ignore any capital gain and to instead treat the new security as having been acquired when the original security was acquired, and at the price paid for the original security. We are of the view that the offer to acquire the CDIs in exchange for units in the new feeder-fund will meet all of the conditions for roll-over relief. The Australian Taxation Office’s Class Ruling CR 2018/45 applied to a similar transaction. You should consult your own professional tax adviser before making a decision.

Two days, 9th and 10th October 2019. CDI Investors who elect to exchange their CDIs for units in the new Australian funds will be able to trade their new units on 11th October 2019.

Investors will be able to purchase new units in the new Australian funds from 9th October 2019.

Please contact your platform administrator.

If you have further questions please call us on 1300 68 38 37

Contact us

If you require further information please contact us on 1300 68 38 37
between 8:30 am and 5:00pm (AEST), Monday to Friday.

We are making investing with VanEck simpler for Australian investors and advisers.

We thank you for your continued support.

Click here to transfer your holdings to the new funds

Important Notice

This page contains general information only and is not personal financial advice. The information does not take into account the individual investment objectives, financial situation or needs of any person. Before making an investment decision, you should consider in consultation with professional financial and tax advisers if the decision is appropriate
for your personal financial situation, needs and objectives.