Corporations Regulations 2001

SCHEDULE 10 - DISCLOSURE OF FEES AND OTHER COSTS  

(regulations 7.9.16K , 7.9.16M and 7.9.16N )

PART 1 - INTERPRETATION  

104   Meaning of indirect cost ratio (ICR)  

104(1)    

The indirect cost ratio ( ICR ), for a MySuper product or an investment option offered by a superannuation entity, is the ratio of the total of the indirect costs for the MySuper product or investment option, to the total average net assets of the superannuation entity attributed to the MySuper product or investment option.

Note: A fee deducted directly from a member ' s account is not included in the indirect cost ratio.

104(1A)    

The indirect cost ratio ( ICR ), for an investment option offered by a managed investment scheme, is the ratio of the management costs for the option that are not deducted directly from a product holder ' s account, to the total average net assets of the managed investment scheme that relates to the investment option.

Note: A fee deducted directly from a product holder ' s account is not included in the indirect cost ratio.

104(1B)    

For an investment option that is a sub-fund of a retail CCIV, the indirect cost ratio ( ICR ) for the option is the ratio of the management costs for all securities referable to the sub-fund that are not deducted directly from a product holder ' s account to the total average net assets of the sub-fund.

Note: A fee deducted directly from a product holder ' s account is not included in the indirect cost ratio.

104(2)    
The ICR for a Product Disclosure Statement is to be determined for the financial year before the Product Disclosure Statement is issued.

104(3)    
The ICR for a periodic statement is to be determined over the latest reporting period.