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Target Market Determinations

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.


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.

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.

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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