warning
05 May 2021 – Please be aware of scammers falsely representing AMP Capital. AMP Capital is aware of an ongoing scam operation targeting customers and the broader community, offering inflated interest returns available through fictitious investment vehicles titled the Capital Protected Fixed Income Government Fund and the Woolworths Group Fixed Rate Bonds. Through the use of phishing emails, malicious operators are sending falsified e-brochures to people in an effort to entice them to invest in a false product that features AMP Capital’s branding. Please be aware this is a not a legitimate product from AMP Capital.

AMP Capital does not approach potential customers via electronic direct mail (EDM) nor does the company solicit personal or financial information via email. 
If you are concerned that you may have been targeted by scammers, please contact us on 1800 658 404 from 8.30am to 5.30pm Monday to Friday (Sydney time).
More information on scams can also be found on the ACCC’s website Scamwatch.

Design and Distribution Obligations

ASIC Regulatory Guide 274 - Design and Distribution Obligations (DDO) 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 focussed on client outcomes throughout the design and distribution process.

AMP Capital will have a Target Market Determination (TMD) for every fund and unit class we make available for our retail clients to invest in. TMDs are available via our website. We will also ensure reasonable steps are taken to ensure on an ongoing basis that distribution of our products is consistent with the target market determination of the fund.

Frequently Asked Questions

What is Design and Distribution Obligations RG274?

ASIC RG274 - DDO require 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.

What does this mean for AMP Capital and the financial services industry?

  • The DDO regime is designed to provide a framework for all products to be more focussed on client outcomes throughout the design and distribution process.
  • Obligations are imposed on AMP Capital as an Issuer and Distributor of financial products.

What are AMP Capital’s obligations?

AMP Capital is primarily the Issuer of products / funds through Platforms and intermediated channels. We are considered a Distributor for our direct retail clients. Relevantly the key obligations that apply to Issuers and Distributors are the following:

 

As Issuer of products:

  • Make a target market determination for all products / funds
  • Review the target market for appropriateness including in response to the occurrence of certain events
  • Keep records about the TMD
  • Take reasonable steps to ensure distribution is consistent with the TMD
  • Notify ASIC if we become aware that a significant dealing outside the TMD has occurred

 

As Distributor of products:

  • Must not engage in retail product distribution without a TMD
  • Must not engage in retail distribution where the TMD may no longer be appropriate
  • Take reasonable steps to ensure distribution is consistent with the TMD
  • Collect, keep and provide distribution information
  • Notify the Issuer of significant dealings not consistent with the TMD
  • Notify the Issuer of complaints relating to the product design, availability and distribution

Why was it introduced?

  • ASIC introduced DDO to clearly identify who the target market is for the distribution of retail products.
  • Each retail product has its own TMD for every product / fund we make available to our clients to invest in and these are available via our website.

When does it start?

DDO compliance comes into effect from 5th October 2021.

How does it affect me?

  • DDO regulations are intended to benefit the consumer of products / funds.
  • Most financial services products are included. This includes most banking products along with Managed Investment Schemes (MIS), Superannuation (excluding My Super) and Insurance products.
  • AMP Capital will facilitate reasonable steps that will or are likely to result in the distribution of products that are consistent with the TMD of the product / fund.

What is AMP Capital doing about it?

AMP Capital is taking steps to enable compliance with the requirements of ASIC’s DDO from 5 October 2021.

I need more information

If you have any questions about this update or your AMP Capital investments, please contact your Account Manager or our Client Services Team on 1800 658 404, between 8.30am and 5.30pm (Sydney time) Monday to Friday.

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