Investment of customer administered funds
Queensland Public Trustee is committed to being transparent about how we invest customer funds, and the associated fees and costs of investments.
Most of the funds held on behalf of our customers, including financial management, minors trusts and enduring power of attorney matters, are administered in accordance with our Customer Investment Strategy (found in our Prudent Person Policy Framework). Under our strategy, we invest customers' funds into our Common Fund and Public Trustee Investment Trusts.
Queensland Public Trustee is the manager and trustee of the Public Trustee Investment Trusts and is responsible for determining the investment objectives and strategy, arranging for the proper investment of all monies and ensuring the appointed investment manager achieves acceptable rates of returns. Queensland Public Trustee has appointed QIC limited (QIC) as the investment manager of the Public Trustee Investment Trusts.
The managed portfolios are explained below.
Common Fund
All monies coming into the hands of Queensland Public Trustee* shall be held in the Common Fund and shall be invested by Queensland Public Trustee*. The Common Fund portfolio is managed by a mixture of internally managed funds and funds invested through external managed funds. All customer monies and interest earnt is guaranteed by the state of Queensland. Interest is paid to customers as prescribed by regulation.
Growth Trust
The Growth Trust is an investment trust which provides a fully diversified investment strategy for those seeking income and long-term capital growth.
Investment in the Growth Trust is only available to customers whose financial affairs are under administration by Queensland Public Trustee*. The Growth Trust was previously open to the general public (external investors). If you are an investor in the Growth Trust, and the Queensland Public Trustee* has not been appointed to manage your affairs, you are unable to increase your Growth Trust investment. The Growth Trust was closed to external investors effective from 1 January 2013.
Australian Foundation for Charitable Trusts (AFCT)
The AFCT was established to provide an investment solution for perpetual charitable trusts with a long-term investment horizon and the need to maximise income. The investment strategy is designed to provide consistent investment income earnings and maintain capital over the long term. This provides support for charities which assist vulnerable Queenslanders.
We periodically distribute investment income from the portfolios to customers’ accounts, depending on the investment product.
By investing customer-administered funds through both the Common Fund and the Public Trustee Investment Trusts, we help customers obtain the benefit of increased investment returns through economy of scale and structured investment strategies.
Information about returns achieved on customer administered investments and associated costs information is further disclosed in our product profiles that can be found in our publications and resources section and our Annual Report.
*We call ourselves Queensland Public Trustee to encompass our whole organisation and all of its work, however the formal legal name of the trustee is Public Trustee of Queensland under the Public Trustee Act 1978.
Monitoring your investment
Public trustee investment trusts
For all investment publications, please see our Publications and resources section.
Interest rates payable
Interest is payable on amounts held in the Queensland Public Trustee’s Common Fund. Interest rates are prescribed by regulation. The Public Trustee Regulation 2023 can be accessed via the Queensland Government Legislation website.
Current interest rates are detailed below. To the extent of any inconsistency, the Regulation applies. If you have any enquiries, please contact us.
Term Investment Accounts
The current interest rate for Term Investment Accounts is 3.60% per annum. Interest is calculated daily and paid monthly for Term Investment Accounts.
Term Investment Account - Product profile
Cash Accounts
The interest rates for Cash Accounts are below. Interest is calculated daily and paid annually for Cash Accounts.
Service | Interest Rate per annum |
|---|---|
Trust | 0.21% |
Financial Management Clients | 1.78% |
Enduring Powers of Attorney | 1.78% |
At Call rate for Agency Deposits | 1.78% |
Deceased Estates | 0.21% |
Information is current as at 1 October 2024. This profile is published by the Public Trustee based on information believed to be true and correct as at date of publication. It is intended as a general source of information only. Questions relating to the circumstances of any individual may need to be specifically addressed. Whilst all care has been taken in the preparation of this profile, the Public Trustee does not give any warranty as to the correctness of the profile and expressly disclaim all liability for any loss or damage that may arise from acting on such statement. The Public Trustee is audited by the Auditor-General of Queensland and its accounts tabled in the Queensland Parliament.
Accessing your investment
You can withdraw from the Growth Trust at any time without charge. Your nominated personal account will be credited. To make a withdrawal, simply do one of the following:
Download and complete the Withdrawal form (PDF, 573 KB).
Deliver it to any one of our offices, or mail it to:
Investment Services
Public Trustee of Queensland
GPO Box 1449
BRISBANE QLD 4001
Call into one of our offices and complete a withdrawal form.
For more information, please see the publications and resources section of the website.
Anti-money laundering and counter-terrorism financing laws
The Australia Government implemented anti-money laundering and counter-terrorism financing (AML/CTF) laws via the Anti-Money and Laundering and Counter-Terrorism Financing Act 2006 to meet international standards and help protect businesses from being misused for money laundering and terrorism financing.
Queensland Public Trustee is required to comply with the AML/CTF laws which require that Queensland Public Trustee, amongst other requirements, verify the identity of all investors making applications into Public Trustee Investment Trusts.
How do I verify my identity?
You will need to complete a Client Identification Form with the necessary identification documentation attached. The identification requirements are contained within the individual Client Identification Form. These forms can be downloaded from the table below.
Which Client Identification Form do I use?
Investment Type | Client Identification Form |
|---|---|
Individual | |
Sole trader A sole trader is a single person operating a business under their own name eg John Brown or with a registered business name Brown Exporting | |
Trusts and trustees Charitable Trusts, Informal, Testamentary, Family – (Discretionary and Unit), Deceased Estates, for people under the age of 18 and Nominee/Custody arrangements. | |
Partnerships Partnerships created pursuant to a partnership agreement | |
Associations Incorporated and unincorporated associations | |
Government bodies Local councils, public utilities, universities, and state and federal government departments | |
Registered co-operatives | |
Australian companies All company types including some charities |
Frequently asked questions about client identification forms
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For instructions on completing these forms, refer to the “How to Complete” the Client Identification Form (PDF, 80 KB) document.
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A document can be certified by any of the people identified in the Client Identification Form. If the document has more than one page, please ensure that the certification identifies the number of pages, for example, ‘I certify this document of [x] pages to be a true copy of the original’.
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If you are unable to provide the appropriate level of identification required, Queensland Public Trustee may not be able to provide the service you require.
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Your transaction will not be processed until all your identification requirements have been received and are satisfactory.
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Queensland Public Trustee will be required to collect personal information under AML/CTF laws. We are required to handle this information in accordance with the Queensland Information Privacy Act 2009 (the Act).
The Act regulates the collection, use, disclosure, quality and security of personal information, including for AML/CTF purposes.
More information in relation to the collection of your personal information is provided in the Queensland Public Trustee’s privacy policy available on this website.
If you require any assistance completing this form, please contact Queensland Public Trustee and ask to speak to a member of the Investment Operations team.