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Each of our TMDs describes the investors for whom the relevant Vanguard product would likely be consistent with their objectives, financial situation and needs (the "target market") and the distribution conditions applicable to the relevant product."

Distribution conditions/restrictions for the Vanguard funds and ETFs

Distribution conditionDistribution condition rational
There are no distribution conditions.Not applicable
Distribution condition
There are no distribution conditions.
Distribution condition rational
Not applicable
Reporting requirement

Reporting period

Which distributors this requirement applies to

Complaints (as defined in section 994A(1) of the Act) relating to the product. The distributor should provide all the content of the complaint, having regard to privacy.

Within 10 business days following end of calendar quarter

All distributors

Significant dealing outside of target market, under s994F(6) of the Act. See Definitions for further detail.

As soon as practicable but no later than 10 business days after distributor becomes aware of the significant dealing.

All distributors other than execution-only brokers

To the extent a distributor is aware, dealings outside the target market, including reason why acquisition is outside of target market, and whether acquisition occurred under personal advice.

Within 10 business days following the end of the calendar quarter.

All distributors other than execution-only brokers

Reporting requirement
Complaints (as defined in section 994A(1) of the Act) relating to the product. The distributor should provide all the content of the complaint, having regard to privacy.

Reporting period

Within 10 business days following end of calendar quarter

Which distributors this requirement applies to

All distributors

Reporting requirement

Significant dealing outside of target market, under s994F(6) of the Act. See Definitions for further detail.

Reporting period

As soon as practicable but no later than 10 business days after distributor becomes aware of the significant dealing.

Which distributors this requirement applies to

All distributors other than execution-only brokers

Reporting requirement

To the extent a distributor is aware, dealings outside the target market, including reason why acquisition is outside of target market, and whether acquisition occurred under personal advice.

Reporting period

Within 10 business days following the end of the calendar quarter.

Which distributors this requirement applies to

All distributors other than execution-only brokers

  • Vanguard Super SaveSmart should only be distributed through the below distribution channels, and only to the target market described in the TMD:
    • Direct retail through digital channels or a hard copy application form;
    • Direct retail through Contact Centre;
    • Direct retail through marketing campaigns;
    • Through a licensed financial adviser or licensee, who are advisers authorised under their own AFS licence
  • Distributors should take reasonable steps not to distribute the Vanguard Super SaveSmart product to a person outside the target market for this product.
  • Distributors must not distribute the Vanguard Super SaveSmart product without providing a PDS.

What needs to be reported

Reporting period

Which distributors this requirement applies to

Complaints, as defined in section 994A(1) of the Corporations Act 2001 (Cth) (the Act) relating to the fund and options offered within the fund where the nature of the complaints relate to product design, insurance claims, product availability and distribution conditions. The distributor should provide all the content of the complaint, having regard to privacy.

Quarterly within 10 business days at the end of March, June, September and December each year

All distributors

Significant dealing outside of target market under s994F(6) of the Act.

The Trustee will rely on notifications of significant dealings to monitor and review the product, this TMD, and its distribution strategy, and to meet its own obligation to report significant dealings to ASIC. Dealings outside this TMD may be significant because:

  • they represent a material proportion of the overall distribution conduct carried out by the distributor in relation to the product, or;
  • they constitute an individual transaction which has resulted in, or will or is likely to result in, significant detriment to the customer (or class of customer). 

In each case, the distributor should have regard to the nature and extent of the inconsistency of distribution with the TMD.

 

As soon as practicable, and no later than 10 business days after distributor becomes aware of the significant dealing

All distributors

To the extent a distributor is aware of dealings outside the target market these should be reported to the issuer, including the reason why an acquisition is outside of target market, and whether the acquisition occurred under personal advice.

Quarterly within 10 business days at the end of March, June, September and December each year

All distributors

What needs to be reported

Complaints, as defined in section 994A(1) of the Corporations Act 2001 (Cth) (the Act) relating to the fund and options offered within the fund where the nature of the complaints relate to product design, insurance claims, product availability and distribution conditions. The distributor should provide all the content of the complaint, having regard to privacy.

Reporting period
Quarterly within 10 business days at the end of March, June, September and December each year

Which distributors this requirement applies to

All distributors

What needs to be reported

Significant dealing outside of target market under s994F(6) of the Act.

The Trustee will rely on notifications of significant dealings to monitor and review the product, this TMD, and its distribution strategy, and to meet its own obligation to report significant dealings to ASIC. Dealings outside this TMD may be significant because:

  • they represent a material proportion of the overall distribution conduct carried out by the distributor in relation to the product, or;
  • they constitute an individual transaction which has resulted in, or will or is likely to result in, significant detriment to the customer (or class of customer). 

In each case, the distributor should have regard to the nature and extent of the inconsistency of distribution with the TMD.

 

Reporting period

As soon as practicable, and no later than 10 business days after distributor becomes aware of the significant dealing

Which distributors this requirement applies to

All distributors

What needs to be reported

To the extent a distributor is aware of dealings outside the target market these should be reported to the issuer, including the reason why an acquisition is outside of target market, and whether the acquisition occurred under personal advice.

Reporting period

Quarterly within 10 business days at the end of March, June, September and December each year

Which distributors this requirement applies to

All distributors

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If you are a distributor and need to send a report regarding complaints, significant dealings or dealings outside the target market, please contact us via adviserservices@vanguard.com.au.

Reporting template for significant dealings outside the target market

Please use the following template for significant dealings and dealings outside the target market

Complaint reporting template

Please use the following template for quarterly complaints reporting.

FAQs

Please refer to our Frequently Asked Questions for further information.