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Design and Distribution Obligations

What are the Design and Distribution Obligations (DDO)?

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ASIC Regulatory Guide 274 (RG 274) requires Issuers and Distributors of financial products to take steps to ensure that retail clients are offered products that are likely to be consistent with their likely objectives, financial situation and needs. The DDO regime is designed to provide a framework for all retail products (funds) to be more focused on client outcomes throughout the design and distribution process.

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What is a Target Market Determination (TMD)?

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A TMD is a document which describes who a fund is appropriate for (target market), and any conditions around how a fund can be distributed to retail customers. It also describes the events or circumstances where a Responsible Entity, such as Copia Investment Partners may need to review the TMD for a fund.

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The Responsible Entity will also ensure reasonable steps are taken to ensure on an ongoing basis that product distribution is consistent with the target market determination of funds.

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For more information about RG 274 see here:

RG 274 Product design and distribution obligations | ASIC – Australian Securities and Investments Commission

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Reporting Requirements

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Copia is required to take reasonable steps to retail product distribution conduct is consistent with a product’s TMD (s.994E(5)).  This means that we need to make the TMDs available to financial planners and platforms and they, in fulfilling their best interests duty to their clients, only recommend products to clients who are deemed suitable for a product based on the TMD.

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We would like financial planners and platforms to provide us with a separate, annual (or more frequent), assurance that:

  1. they have access to our current TMDs

  2. they have read and understood the TMDs

  3. in providing financial product advice to clients they have considered their suitability to invest in the products given the TMDs or

  4. have otherwise made the TMDs available to their clients.

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Furthermore, financial planners and platforms are required to report complaints and dealings concerning Copia products. These reports should be in the format of the FSC Complaints Reporting Template and DDO Dealings Reporting Template (https://www.fsc.org.au/resources/target-market-determination-templates).

Completed reports are to be sent by email: clientservices@copiapartners.com.au

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“We believe a high conviction equity strategy with an expanded opportunity and risk management mindset offers the greatest benefit to investors in the long term”

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— Rob Tucker
Managing Director

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CHESTER ASSET MANAGEMENT

Head Office

Level 47, 80 Collins Street (North Tower)
Melbourne VIC 3000

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P  1800 442 129

E  clientservices@copiapartners.com.au

DISCLAIMER

 

This website provides information to help investors and their advisers assess the merits of investing in financial products. We strongly advise investors and their advisers to read information memoranda and product disclosure statements carefully. The information on this website does not constitute personal advice and does not take into account your investment objectives, financial situation or needs. It is therefore important that if you are considering investing in any financial products and services referred to on this website, you determine whether the relevant investment is suitable for your needs, objectives and financial circumstances. You should also consider seeking independent financial advice, particularly on taxation, retirement planning and investment risk tolerance before making an investment decision.

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Neither Copia Investment Partners Limited, nor any of our associates, guarantee or underwrite the success of any investments, the achievement of investment objectives, the repayment of capital or payment of particular rates of return on investments. Copia Investment Partners Limited publishes information on the website that to the best of its knowledge is current at the time and is not liable for any direct or indirect losses attributable to omissions from the website, information being out of date, inaccurate, incomplete or deficient in any other way. Investors and their advisers should make their own enquiries before making investment decisions.

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© 2024 Chester Asset Management | In partnership with Copia

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The rating issued October 2024 APIR OPS7755AU is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445 (Lonsec). Ratings are general advice only, and have been prepared without taking account of your objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and Lonsec assumes no obligation to update. Lonsec uses objective criteria and receives a fee from the Fund Manager. Visit lonsec.com.au for ratings information and to access the full report. © 2022 Lonsec. All rights reserved.

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The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (assigned APIR OPS7755AU June 2021) referred to in this piece is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual, including target markets of financial products, where applicable, and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at http://www.zenithpartners.com.au/RegulatoryGuidelines

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