Document ID: chunk:federal_register_of_legislation:F2025C00069:reg:26:p9
Version: federal_register_of_legislation:F2025C00069
Segment Type: reg
Provision Reference: reg 26 (pt 9/13)
Character Range: 591246–593833

and
 (b) at the end of the quarter, there are no member assets supporting the Part 6A product that are referable to any of the investment pathways of the Part 6A product.
 (6) For the purposes of subregulation (2), treat fee and index, in relation to all covered asset classes and the quarter, as being zero.

9AB.14  Meaning of benchmark return—lifecycle Part 6A products
 (1) This regulation applies to lifecycle Part 6A products.
 (2) The benchmark 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:
a represents a covered asset class for the quarter, where the value of "a" corresponds to the number of the item of the table in regulation 9AB.17 relating to the quarter that identifies that covered asset class for the quarter.
Example: If a=2, then "a" represents the covered asset class identified in item 2 of the table in regulation 9AB.17 that relates to the quarter.
A means the number of covered asset classes identified in the table in regulation 9AB.17 that relates to the quarter.
ART, in relation to a covered asset class and a quarter, means the assumed rate of tax for the quarter for the covered asset class.
fee, in relation to a covered asset class and a quarter, means the assumed annual fee for the quarter for the covered asset class.
index, in relation to a covered asset class and a quarter, means the index of the covered asset class for the quarter.
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.
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