A PDS is a Product Disclosure Statement, a key document required under the Corporations Act for registered managed investment schemes such as that operated by OpenInvest Limited as Responsible Entity. It sets out information about the services provided by the product, its key features and benefits, details about risks, costs, fees, how it works and your rights and obligations as an investor.
A TMD is a Target Market Determination document. This is another key document, produced by the Responsible Entity, although technically not designed for retail clients to read. It’s a recent innovation, introduced by the government and regulator to try and ensure that financial products are both designed and distributed in a way that suits the “target market” they are aimed at.
For example, if you want to make all your decisions about individual trades, have only $1000 to invest and want to punt the whole lot on some bitcoin, then the TMD would indicate to us as distributor and the regulator that you would fall outside the target market set by the Responsible Entity on all three counts.
Your application would not get accepted.
You can access all the Key Documents (PDS, TMD, Investment Menu) without registering first by by clicking on the button below. This also gives access to OpenWealth’s other legal documents such as Complaints Handling policy, privacy, terms and conditions etc.
