A finance broking arrangement where investors invest in separate mortgages with returns dependent on individual investment performance may constitute a managed investment scheme under s 9 of the Corporations Act 2001 (Cth) where there is the same overall supervisory structure, the same method of operation, and the same end purpose. The common enterprise requirement can be satisfied by investors accessing shared finance broking and management services for a fee, even where there is no pooling or sharing of investment returns between different mortgages.
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