Document ID: chunk:federal_register_of_legislation:F2025C00069:reg:26:p6
Version: federal_register_of_legislation:F2025C00069
Segment Type: reg
Provision Reference: reg 26 (pt 6/13)
Character Range: 583833–586498

out in accordance with paragraph (a) for an investment pathway of the Part 6A product, if there are no member assets supporting the Part 6A product that are referable to the investment pathway;
 (c) next, identify the smallest of the returns worked out in accordance with paragraphs (a) and (b).

9AB.12  Meaning of actual return—lifecycle Part 6A products
 (1) This regulation applies to lifecycle Part 6A products.
 (2) The actual return, for a Part 6A product for a lookback period for the product in respect of a financial year, is the amount calculated using the following formula, rounded to 10 decimal places (rounding up if the eleventh decimal place is 5 or more):
where:
j represents a lifestage of the Part 6A product, in a consecutive sequence of lifestages of the Part 6A product, where:
 (a) if j=1, the lifestage is the lifestage that applies to the youngest beneficiaries who hold the product; and
 (b) subject to paragraph (c), the sequence proceeds in ascending order of the ages of those beneficiaries; and
 (c) if there are 2 or more lifestages of the Part 6A product that apply to beneficiaries of the same age—the sequence proceeds in respect of those lifestages in the order specified by APRA in a determination under regulation 9AB.15.
J means the number of lifestages of the Part 6A product.
lifestage weight, in relation to a lifestage and a quarter, means the Part 6A product's lifestage weight in relation to the quarter and the lifestage.
n means the number of quarters in the lookback period, divided by 4.
return, in relation to a quarter and a lifestage, means:
 (a) if paragraph (b) does not apply—the Part 6A product's net investment return in relation to the quarter and the lifestage, for the Part 6A product's standard fees and costs arrangement in relation to the quarter; or
 (b) if it is not possible to identify the Part 6A product's net investment return in relation to the quarter and the lifestage from information available to APRA, but it is possible to identify the Part 6A product's gross investment return net of fees in relation to the quarter and the lifestage from information available to APRA—the Part 6A product's gross investment return net of fees in relation to the quarter and the lifestage, for the Part 6A product's standard fees and costs arrangement in relation to 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.

Change of lifestages
 (3) Subregulation (4) applies if:
 (a) the following circumstances exist:
 (i) a lifecycle Part 6A product has particular lifestages at the end of a quarter