Document ID: chunk:federal_register_of_legislation:F2025C00069:reg:26:p10
Version: federal_register_of_legislation:F2025C00069
Segment Type: reg
Provision Reference: reg 26 (pt 10/13)
Character Range: 593607–596382

n means the number of quarters in the lookback period, divided by 4.
SAA, in relation to a covered asset class, a lifestage and a quarter, means the Part 6A product's strategic asset allocation in relation to the lifestage and the quarter to the covered asset class for the quarter.
t represents a quarter in a consecutive sequence of quarters, where if t=1, the quarter is the first quarter that starts in the lookback period.

Lifecycle Part 6A products that report gross investment return net of fees
 (3) Subregulation (4) applies in relation to a lifestage and a quarter if:
 (a) it is not possible to identify the Part 6A product's net investment return in relation to the lifestage and the quarter from information available to APRA; but
 (b) it is possible to identify the Part 6A product's gross investment return net of fees in relation to the lifestage and the quarter from information available to APRA.
 (4) For the purposes of subregulation (2):
 (a) treat ART, in relation to a covered asset class and the quarter, as being zero; and
 (b) in working out index in relation to a covered asset class identified in item 24, 25 or 26 of the table in regulation 9AB.17 and the quarter by applying subregulation 9AB.5A(7), treat ART in that subregulation as being zero.

Change of lifestages
 (8) Subregulation (9) applies if:
 (a) the following circumstances exist:
 (i) a lifecycle Part 6A product has particular lifestages at the end of a quarter in a lookback period for the product in respect of a financial year;
 (ii) the product has different lifestages at the end of a later quarter in the lookback period; and
 (b) either or both of the following apply:
 (i) the Part 6A product and the quarters are in a class of Part 6A products and quarters specified in a determination under subregulation (9A);
 (ii) the Part 6A product and the quarters are specified in a determination under subregulation (10).
 (9) Despite subregulation (2), the benchmark return, for the Part 6A product for the lookback period for the product in respect of the year, is the amount calculated using the formula in subregulation (2), as modified in the way specified in the following determination:
 (a) if only subparagraph (8)(b)(i) applies—the determination mentioned in that subparagraph;
 (aa) if only subparagraph (8)(b)(ii) applies—the determination mentioned in that subparagraph;
 (b) if both subparagraphs (8)(b)(i) and (ii) apply—the determination mentioned in subparagraph (8)(b)(i).
 (9A) For the purposes of subparagraph (8)(b)(i), APRA may, by legislative instrument, make a determination that:
 (a) specifies classes of Part 6A products and quarters; and
 (b) specifies modifications of the formula in subregulation (2) that APRA considers are reasonably necessary to