Minimum content of Product Disclosure Statement for simple sub‑fund product
2 Minimum content of Product Disclosure Statement for simple sub‑fund product
The Product Disclosure Statement for the simple sub‑fund product must include sections that are numbered and titled as follows:
1. About [name of corporate director]
2. How [name of CCIV and sub‑fund] work
3. Benefits of investing in [name of simple sub‑fund product]
4. Risks of simple sub‑fund products
5. How we invest your money
6. Fees and costs
7. How sub‑funds of CCIVs are taxed
8. How to apply.
The Statement must include:
a table of contents that sets out the titles mentioned in subclause (1); and
the telephone number of the corporate director of the CCIV to enable a person who invests in the simple sub‑fund product to request a copy of the following under regulation 7.9.11ZH:
a copy of the Statement;
a copy of a matter in writing that is applied, adopted or incorporated by the Statement.
The Statement must:
advise a person reading the Statement that:
it is a summary of significant information and contains a number of references to important information (each of which forms part of the Statement); and
persons should consider that information before making a decision about the simple sub‑fund product; and
the information provided in the Statement is general information only and does not take account of the person’s personal financial situation or needs; and
the person should obtain financial advice tailored to the person’s personal circumstances; and
display the advice:
at or near the beginning of the document; and
in a prominent position and style.
The Statement:
may include additional sections after sections 1 to 8; and
may include other information;
to an extent that does not have the effect of contravening subclause 1(1).
The Product Disclosure Statement does not need to indicate that a particular requirement is not applicable to the simple sub‑fund product.
The Act, as modified in accordance with Subdivision 4.2D of Division 4 of Part 7.9, requires information to be included in the Product Disclosure Statement only to the extent to which the requirement is applicable to the simple sub‑fund product.
This Act’s bill:Explanatory statement
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