Design and Distribution Obligations
What is DDO?
All product issuers and distributors (including financial advisers) of financial products must comply with the ASIC’s product Design and Distribution Obligations (DDO) pursuant to ASIC Regulatory Guide 274.
To comply with DDO, certain Dexus entities, including Dexus Asset Management Limited (DXAM) and Dexus Capital Funds Management Limited (DCFM) each in its capacity as a product issuer, has Target Market Determinations (TMD) for each of the retail funds that are currently open to investment.
DDO is intended to help retail investors obtain appropriate financial products by requiring a consumer-centric approach to designing and distributing products by:
- Issuing financial products that are consistent with the likely objectives, financial situation and needs of the consumers for whom they are intended.
- Issuers and distributors taking ‘reasonable steps’ that are likely to result in financial products reaching consumers in the target market described in the TMD.
- Monitoring customer outcomes and reviewing their financial products to ensure that retail investors are receiving financial products that are likely to be consistent with their likely objectives, financial situation, and needs.
Note: Wholesale investors are not covered by this legislation.
What is a TMD?
A TMD is a document published by product issuers which:
- describes the class, or type, of consumer who the product is likely to be appropriate for
- specifies conditions and restrictions on how products can be distributed to retail investors
- specifies events or circumstances that will require the product issuer to review the TMD for their products, and
- outlines the reporting requirements/information that third-party distributors must provide to the product issuer.
Where are the TMDs available?
TMDs for the funds offered to retail investors can be found under the ‘How to invest’ tab under the respective fund page, however, are also available here:
- Dexus AREIT Fund
- Dexus Australian Property Fund
- Dexus Core Infrastructure Fund (On-platform – Class A)
- Dexus Core Infrastructure Fund (On-platform – Class G)
- Dexus Core Infrastructure Fund (Direct – Class H)
- Dexus GREIT Fund
- Dexus Wholesale Australian Property Fund
DDO reporting requirements
If practicable, distributors should adopt the FSC data standards located here https://fsc.org.au/resources/target-market-determination-templates or reports to the Issuer. Distributors must report to Dexus via a bilaterally agreed protocol or intermediary or via email to DexusDDO@dexus.com in the form specified in any request from Dexus.
Archived Target Market Determinations for current funds:
Dexus AREIT Fund - APN0008AU
Dexus Australian Property Fund – NML0337AU
Dexus Core Infrastructure Fund (On-platform – Class A) – AMP1179AU
Dexus Core Infrastructure Fund (On-platform – Class G) - AMP8292AU
Dexus Core Infrastructure Fund (Direct – Class H) – AMP1180AU
Dexus Global REIT Fund – APN4390AU
Dexus Wholesale Australian Property Fund – NML0001AU
Disclaimer
All information contained on this website (“Information”) is subject to change without notice. While every care has been taken in the preparation of the Information, to the extent permitted by law, Dexus (ASX: DXS), its related body corporates and each of their respective directors, officers and employees do not make any representation or warranty, express or implied, as to the accuracy, currency, reliability or completeness of any statement in it, including, without limitation, any forecasts, and do not guarantee the repayment of capital, or the performance of or any particular rate of return for the Dexus fund referred to on this website. Past performance is not a reliable indicator of future performance.
The Information has been prepared for the purpose of providing general information only, without taking account of any particular investor’s objectives, financial situation or needs. Investors should, before making any investment decisions, consider the appropriateness of the Information, and seek professional advice, having regard to their objectives, financial situation and needs.
The Information is not intended for distribution or use in any jurisdiction where it would be contrary to applicable laws, regulations or directives and does not constitute a recommendation, offer, solicitation or invitation to invest.