FAQs

Blossom targets a 3% p.a. return to help you reach your savings goals faster. We don’t think you should have to choose between targeting higher returns and quick & easy access to your savings, so we’re bringing it all to you in an easy-to-use app!

Blossom strives to make saving simple and affordable for all. There is no minimum application amount, a minimum withdrawal amount of $0.01, no sign-up fees and no transfer or withdrawal fees. Blossom is here to help you do more with your savings!

Getting Started:

From the Blossom web, iOS or Android app, you will be able to:

  1. Plant the seeds - sign up in minutes and fund your account.
  2. Watch them grow - Watch your savings Blossom each day.
  3. Reach your goals - Set goals and watch your future Blossom.

You will need to provide us with some basic personal information and proof of identification (passport or driver’s licence).

In order to confirm you are who you say you are, we may require additional ID verification, such as your passport or driver’s licence.

As is compulsory for any financial institution, Blossom needs to satisfy its obligations under the Anti-Money Laundering Act (AML/CTF Act 2006). This requires Blossom to verify specific information provided to us about a customer’s identity. This includes first and last names, home addresses, date of birth, country of birth and more.

Blossom complies with the Privacy Act 1998 and takes great care in dealing with the personal information of our customers. You can read more about our Privacy Policy here.

You have to be 18 years or older to open a Blossom account.

You can add your TFN in the ‘Personal Info’ tab in the ‘Settings’ section of the web, iOS or Android app. For more information on tax or your TFN, see the ‘Taxes’ section below.

Your account will be rejected if you’re a:

  • Politically Exposed Person, or
  • have US citizenship.

If you’re a US citizen, we’ll let you know as soon as you can create an account with Blossom.

If your account has been rejected and you’re not sure why, please send us an email to and we will be able to help.

Account security

Yes, we take safety seriously and, as AFSL (Australian Financial Services Licence) holders, we are required to adhere to the NIST cyber security framework. This is the global standard in cyber security to protect you from criminal activity. We regularly update ASIC with our compliance to this standard.

We have strict account protection policies, for example, ID verification, forced log-outs and multi-factor authentication to help ensure only you can access your account.

Your data is encrypted and stored offsite to protect you from criminal activity. We will never share, sell or rent your personal information.

As for the investments themselves, these are held by the Fund’s licensed Custodian, JP Morgan Securities LLC, a global leading custodian.

We need your BSB and Account number so that when you make a withdrawal request, we know where to send your savings to.

We recommend two main ways to ensure your Blossom account stays protected:

  1. Log out after every time you login to the web, iOS or Android app. We will also automatically log you out after long periods of inactivity.
  2. Choose a strong password that would be difficult to guess. Store this password in a safe location.

Fees

We want to make saving simple, affordable and accessible for everyone. Blossom does not charge sign up fees, transfer or withdrawals fees. That means you will not be charged to move money in or out of your Blossom account.

Please note that while the Blossom Fund Constitution permits fees to be charged, these have been waived. For more information regarding Blossom’s fees, please read the PDS.

Blossom is free to join. We do not charge transfer or withdrawal fees nor any sign up fees to use the Blossom app.

At Blossom we put the customer first. The first 3% p.a. available is paid to Blossom customers. Then our total of 1% in external fees get paid out in the following waterfall-like structure:

  • The first 0.5% is paid to the liquidity manager - Fortlake Asset Management Limited (unless and to the extent any of that is waived by the liquidity manager).
  • The next 0.5% is paid to the Responsible Entity to cover expenses (there is no responsible entity fee).

The rest goes to our Threshold Manager, which means when the Fund makes interim excess returns, the excess will be paid to BlossomApp Pty Limited (BlossomApp). This helps BlossomApp (in its discretion) pay into the Fund when potential interim returns are less than 3% p.a. in the future and continue to make the Blossom Fund better for you.

For more information on Blossom’s Threshold Management Agreement, please see the FAQ heading ‘Investing with Blossom’ or read the PDS.

Funding My Account:

There is no minimum application amount or account balance - you can start investing with as little as you like. We want to make saving accessible to everyone.

The maximum investment amount per customer is $10,000,000.00.

You can fund your Blossom account through a direct debit or a BPAY transfer.

For a Direct Debit, you simply provide us with your bank account information and we’ll instruct our bank to debit the agreed amount from your account directly. Soon, we plan that you’ll be able to set up automatic recurring deposits too.

For a BPAY transfer, we will give you our Blossom Biller code and reference number. You can use these details to transfer the funds yourself through your preferred payment method.

It will generally take up to 3 business days for funds transferred via direct debit to reach your Blossom account. These funds will appear as “pending” in your account until they arrive and cannot be dishonoured or clawed back.

Funds transferred through BPAY can take between 1-3 business days.

Your direct debit request may have failed because of one of the reasons below:

  • Your bank account doesn’t allow for direct debits. This usually happens if you have tried to link an online-only savings account.
  • There were insufficient funds in your bank at the time of the direct debit.
  • There was an error in the bank account details provided. Visiting the ‘Settings’ section of the web, iOS or Android app will allow you to update your information.

Once you have checked your bank details are correct and there are sufficient funds in your account, you can go to the Blossom web, iOS or Android app to make a new direct debit request.

You can change your funding account details through the ‘Settings’ tab on our web, iOS or Android app.

If you have transferred money using BPAY, you can change your bank details whenever you like through the app.

If you have already transferred money using direct debit and you want to change your bank account details, please contact us at to kick off the bank account change process.

Investing with Blossom

Blossom works by allowing you to transfer money to pay for units in the Blossom Fund, which is a diversified portfolio of lower-risk financial assets. The Blossom Fund is a unit trust, registered under the Corporations Act as a managed investment scheme. As a saver with Blossom, you won’t be holding individual assets but will be holding units in the Fund.

No, Blossom is providing you access to fixed income investment returns through the Blossom Fund. For more information on fixed income, keep reading the FAQs below or read the PDS.

Fixed income investing is an investment approach focused on preserving your capital. Common examples of fixed income products include government or corporate bonds, which can provide steady streams of income. The Blossom Fund invests (directly or indirectly) in a well-diversified portfolio of lower-risk assets of this type. For more information on the portfolio, please read the PDS.

It can be difficult to access fixed income investments on your own because:

  • There are few platforms providing individuals with access to fixed income investing
  • Fixed income investments are generally associated with very high minimum acquisition amounts
  • With fixed income investing, your funds can be locked up for long periods of time. You might have to wait a long time for the investment to end or find a buyer, outside any exchange (and generally you would get paid much less than you invested in these cases).

That’s why Blossom is targeting the fixed income market. We’re bringing access to fixed income investment returns to you with no minimum application amount, a minimum withdrawal amount of $0.01and easy app access to your funds.

Led by an expert team, Blossom uses a diversified and sophisticated strategy including (direct and indirect) investments in corporate and government bonds, mortgage-backed securities, cash and more. Through targeting investment grade and highly liquid instruments, experts decide where and how to spread the risk to achieve the highest possible return within the investment strategy. For more information on our targeted returns and strategy, please read the PDS.

Your account gives a simple, transparent way to show the value of your savings in your account before you withdraw. Any increases are shown as earnings. Savings (total value) and earnings (increases) are shown every business day based on unit prices for applications and redemptions. Accrued income is fixed every calendar quarter end so earnings compound on your account balance. Distributions are paid annually. If you withdraw at any time, your income entitlements depend on legal requirements and operations for redemption processes so could be different from reported indicative savings but in the ordinary course they will be the same. Please see the PDS for further information on income, distributions, withdrawals, entitlements and displayed savings and earnings.

The Blossom Fund, like any fixed income fund, carries risk. Blossom mitigates the level of risk through three key strategies:

  1. Experienced team - Blossom has partnered with an expert team with over 18 years' experience in fixed income, including at UBS and Reserve Bank of Australia.
  2. Threshold Management Agreement - when the Fund makes interim excess returns above 4% p.a. (3% for the Fund + 1% for external management fees and costs), the excess will be paid to BlossomApp Pty Limited to help it (in its discretion) pay the Fund to fund potential interim returns less than 3% p.a.
  3. Diversified strategy - the underlying investments of the Fund will be selected for being investment grade, to maintain over time, an average portfolio rating of A. The strategy uses investing across multiple corporations and financial institutions, rather than having all the risk weighted to one institution. This creates a better diversified strategy.

Keep reading below for more information on points 1-3. For more information about our strategy and the significant risks, please refer to the PDS.

Blossom has a Threshold Management Agreement in place which makes us confident in our ability to continue to target returns of 3% p.a. each year.

The Threshold Management Agreement states that when the Blossom Fund outperforms 3% p.a. on an interim basis, the excess, after interim external fees are paid, will be paid to BlossomApp Pty Limited to help it (in its discretion) pay the Fund to fund any shortfall if the Blossom Fund returns less than 3% p.a. Blossom can also use the Fund’s underwriter to help fund shortfalls (subject to limits, see the PDS).

This is our secret sauce! It’s our clever strategy to ensure we will continue to target a 3% return p.a. For more information, please read the PDS.

The underlying investments of the Blossom Fund will be selected for being investment grade fixed income products, to maintain over time, an average portfolio rating of A.

While bond investing still has risk of default, the risk can be limited through researching a company’s bond rating. The higher the bond rating, the more likely investors are to see a timely payment of a bond’s principal and interest. The highest rated bonds (A, AA and AAA) are among those considered ‘investment grade’ with a low risk of default. The Blossom Fund will maintain, over time, an average portfolio rating of A. It is worth noting that an Australian investment grade bond has never defaulted on its loans.

We will use our Threshold Management Agreement to help fund potential interim losses of the Fund. Please note, the 3% p.a. return is targeted and not guaranteed. Past performance and short-term performance of the Fund are no assurances of future performance of the Fund. For more information, please read the PDS in full.

No, fixed income is different from investing in the stock market or Exchange Traded Funds (ETFs).

It is broadly understood that fixed income carries lower risks than stocks or ETFs, are less volatile and offer more stable returns. This is because macroeconomic risks, like economic downturns and geopolitical events, have larger impacts on the stock market than on fixed income investments. This makes fixed income investing appeal to investors with a lower tolerance for risk.

Also, investing in the stock market is subject to the benefits and drawbacks of exchanges, such as regulatory controls, prices charged, exchange protections for certain misconduct by brokers, exchange technology, isuser diclslures and liquidity opportunities and rules.

Fortlake Asset Management Limited ABN 30 643 640 939 is the liquidity manager, under the leadership of Dr Christian Baylis. Christian is a highly regarded Australian-based manager with broad experience across global fixed income and derivatives strategies, having worked previously at UBS Asset Management and the Reserve Bank of Australia (RBA). Christian has over 18 years’ experience in fixed income and holds a PhD in Econometrics.

Blossom is the Threshold Manager. For more information on the key service providers, please read the PDS.

The Blossom Fund’s bond portfolio is held by J.P. Morgan Securities LLC ABN 37 109 293 610 as custodian appointed by the Fund’s Responsible Entity. A custodian, appointed by the Responsible Entity, is responsible for holding and safeguarding investments owned on behalf of a fund.

Ernst & Young ABN 75 288 172 749 has been appointed by the Responsible Entity as the external auditor for the Blossom Fund.

Yes, BlossomApp Pty Limited ABN 74 644 216 151 is a Corporate Authorised Representative (CAR No 1284228) of Gleneagle Asset Management Limited (ABN 29 103 162 278 AFSL 226199, who is the Responsible Entity of the Fund.

A product disclosure statement (PDS) is an important document that contains information about Blossom including the product’s key features and benefits, significant risks, and the complaints handling procedure (among other things).

You should read the PDS in full before deciding to open a Blossom account and start saving (in legal terms, paying to acquire interests in the Fund, hold your savings in your Account and whether to withdraw). Applications may only be made pursuant to the PDS. You can also find our PDS on our web, iOS or Android app.

You will receive a copy of the PDS (or get access to it) when you sign-up with Blossom. Later versions will be provided to you as well.

Withdrawals

We aim to make withdrawals easy! You can make a withdrawal by making a request at any time through your account on the web, iOS or Android app. It can be all or part of your investment in the Fund.

Redeeming your savings may give you taxable gains, depending on your individual circumstances. Please refer to the PDS to learn more about how fixed income funds are taxed.

Please also refer to the PDS to learn more about how the law and the Fund Constitution have to allow for possible suspensions of redemptions and even for extended delays but we think that is unlikely.

Yes, you can withdraw part or all of your savings through making a withdrawal request in the ‘Transfers’ section of the web, iOS or Android app. There is no limit to how much you can withdraw at one time (subject to a minimum withdrawal of $0.01 and your amount of savings).

To withdraw your savings, you will need to make a redemption request. Redemption requests made prior to 4pm Sydney time on a business day will generally be processed for same-day payment (subject to banking and payment systems). Redemption requests made after that time will be processed for payment the following business day (subject to banking and payment systems). If you have changed your nominated account or your ID needs to be verified, there may be a delay while that is resolved.

In order to cancel pending transactions, please send us an email as soon as possible to and we will try to assist you.

Yes. If you funded your account using BPAY, you can change your nominated account for withdrawals through the ‘Settings’ tab in the web, iOS or Android app.

However, if you have transferred funds to Blossom via direct debit, you will need to verify your identity before you can update your bank account details. This is to ensure we are complying with our obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. Contact us at to start this process.

Environmental, Sustainability and Governance (ESG)

Blossom’s mission is to leave your savings and the environment much better than we found them. That’s why Fortlake Asset Management, our Fund’s Management, is applying for the internationally-recognised Principles for Responsible Investment. This ensures the organisation publicly demonstrates its commitment to including ESG factors in investment decision making and ownership. ESG considerations are integral in the investment process for the Blossom Fund.

Dr. Kylie-Anne Richards is the Executive Director & Chair of ESG for Fortlake Asset Management. Dr Kylie is an expert in Sustainable Finance, Green Finance and ESG, with extensive industry experience both domestically and overseas. Outside of overseeing Blossom's strategy, you can find her lecturing at the University of Technology Sydney!

Plant a tree

When you fund your Blossom account for the first time, we will commit to planting a tree in an Australian bushfire affected region. We have partnered with One Tree Planted who will plant trees on website.

Savings Goals

The savings goal is a feature within Blossom that allows you to set and monitor a custom financial goal. Watch your savings and your own flower blossom as you work towards achieving your goal.

To set a savings goal, go to the Blossom ‘Goals’ page through the web, iOS or Android app. Enter your amount, name your goal and start saving. Nurture your flower with additional top-ups or simply watch it blossom!

Refer a Friend

You'll receive a unique referral link when you sign up to Blossom. Share this link with your family and friends to help them reach their financial goals too.

Your referral can click on your link to start their Blossom sign up. Once your referral funds their account, you’ll both receive $5.

You can choose to:

  • Keep the $5 - we'll transfer it to your Blossom account 💸
  • Plant the $5 - we'll use it to plant 5 more trees for you 🌳
  • Donate the $5 - we'll donate it to the Garvan Institute for Pancreatic Cancer Research 📃

Note: You can make a new decision for every new referral.

You’ll receive your $5 within two weeks of your referral funding their account.

You can refer up to 20 people.

The Blossom name comes from the Blossom founder’s late grandfather, Bertie, whose nickname was Blossom. Bertie lost his battle with pancreatic cancer in April 2020. As the family patriarch, this was a huge loss, but his spirit lives on everyday through Blossom.

We are donating funds from our referral program to the Garvan Institute to support their research into pancreatic cancer, a cause incredibly close to the hearts of the Blossom team. We love you, Bertie.

Taxes

Redeeming your savings may give you taxable gains, depending on your individual circumstances. Please refer to the PDS to learn more about how the Blossom Fund is taxed.

While it is not compulsory, we recommend providing us with your Tax File Number within the Blossom web, iOS or Android app.

If we do not receive your TFN and you don’t give us a valid exemption, we must withhold tax at the highest personal rate, plus the Medicare levy, before passing on any distribution to you. The law is very strict on how we can use TFN details. If this withholding tax applies, it is merely a collection mechanism and an investor may claim a credit in their annual income tax return in respect of the tax withheld.

To avoid this, please enter your TFN in the ‘Settings’ tab as soon as you can!

We will send you an annual tax statement each year. This statement will be able to assist you to complete your tax return. It will have all the information you need regarding your savings with Blossom.

You will still be able to login to access any statement you may need, even if you have closed your account. If you have login issues, please email us at .

Yes, you can close your account whenever you want by sending us an email to . Uninstalling the app won’t cancel your pending transactions or close your account. You can also withdraw all your funds by making a withdrawal request through the web, iOS or Android app.

Key Terms

Please refer to the PDS for all of the defined expressions.

Here are a few key terms used in these FAQs:

  • Blossom is BlossomApp Pty Limited, ABN 74 644 216 151 (CAR No 1284228) of Gleneagle Asset Management Limited (ABN 29 103 162 278, AFSL 226199), the Responsible Entity of the Fund and the service provided by Blossom.
  • Fund Constitution means the constitution of the Fund.
  • Fund means the Blossom Fund ARSN 645 889 998.
  • Responsible Entity means Gleneagle Asset Management Limited (ABN 29 103 162 278, AFSL 226199).