Document ID: chunk:federal_register_of_legislation:F2025C00069:reg:3:p66
Version: federal_register_of_legislation:F2025C00069
Segment Type: reg
Provision Reference: reg 3 (pt 66/71)
Character Range: 557802–560462

work out the RAFE for the Part 6A product in relation to the year as follows:
 (a) first, divide the year into periods on the following basis:
 (i) the first period starts at the start of the year;
 (ii) a new period starts each time the product starts to have different lifestages;
 (iii) the last period ends at the end of the year;
Note: Each period, other than the last period, ends immediately before the first time after the start of that period at which there is a change of the lifestages.
 (b) next, work out the RAFE for the Part 6A product in relation to each period identified under paragraph (a), in accordance with subregulation (4);
 (c) next, work out the sum of the RAFEs worked out under paragraph (b).

Trustee‑directed products
 (7) Subregulations (8) and (9) apply if the Part 6A product is a trustee‑directed product.
 (8) Despite subregulations (1) to (6), work out the representative administration fees and expenses or RAFE for the Part 6A product in relation to a period as follows:
 (a) first, work out each RAFE for the Part 6A product in relation to each quarter in the period, in accordance with those subregulations, on the assumptions that:
 (i) those subregulations apply separately in respect of each investment pathway of the Part 6A product; and
 (ii) in applying those subregulations in respect of an investment pathway, references in those subregulations to amounts reported to APRA were references to such amounts to the extent that they relate to that investment pathway;
 (b) next, multiply each RAFE identified under paragraph (a) in relation to a quarter and an investment pathway by the investment pathway weight for the investment pathway for the quarter (see subregulation (9));
 (c) next, work out the sum of the results of paragraph (b).
 (9) The investment pathway weight of a Part 6A product for an investment pathway for a quarter is:
 (a) the market value at the end of the quarter of all member assets supporting the Part 6A product that are referable to the investment pathway;
divided by:
 (b) the market value at the end of the quarter of all member assets supporting the Part 6A product that are referable to an investment pathway of the Part 6A product.

9AB.5  Meaning of strategic asset allocation
 (1) A Part 6A product's strategic asset allocation in relation to a quarter to a covered asset class for the quarter is:
 (a) unless paragraph (b) or (c) applies—the Part 6A product's benchmark asset allocation in relation to the quarter to the covered asset class, as reported to APRA in accordance with the applicable asset allocation standard (expressed as a fraction); or
 (b) unless paragraph (c)