Document ID: chunk:federal_register_of_legislation:C2012A00117:clause:1_29vn
Version: federal_register_of_legislation:C2012A00117
Segment Type: clause
Provision Reference: sch 1 cl 29VN
Character Range: 6936–8635

29VN  Additional obligations of a trustee in relation to a MySuper product
  Each trustee of a regulated superannuation fund that includes a MySuper product must:
 (a) promote the financial interests of the beneficiaries of the fund who hold the MySuper product, in particular returns to those beneficiaries (after the deduction of fees, costs and taxes); and
 (b) determine on an annual basis whether the beneficiaries of the fund who hold the MySuper product are disadvantaged, in comparison to the beneficiaries of other funds who hold a MySuper product within those other funds, because the financial interests of the beneficiaries of the fund who hold the MySuper product are affected:
 (i) because the number of beneficiaries of the fund who hold the MySuper product is insufficient; or
 (ii) because the number of beneficiaries of the fund is insufficient; or
 (iii) where the assets of the fund that are attributed to the MySuper product are, or are to be, pooled with other assets of the fund or assets of another entity or other entities—because that pool of assets is insufficient; or
 (iv) in a case to which subparagraph (iii) does not apply—because the assets of the fund that are attributed to the MySuper product are insufficient; and
 (c) include in the investment strategy for the MySuper product the details of the trustee's determination of the matters mentioned in paragraph (b); and
 (d) include in the investment strategy for the MySuper product, and update each year:
 (i) the investment return target over a period of 10 years for the assets of the fund that are attributed to the MySuper product; and
 (ii) the level of risk appropriate to the investment of those assets.