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What’s a Target Market Determination?

A Target Market Determination is a document which describes a group of retail clients (the target market) for whom a product is likely to be appropriate or consistent with their likely objectives, financial situation and needs, plus any conditions around how the product can be distributed.

It also describes the events or circumstances where we may need to review the Target Market Determination for a financial product.

Why does Colonial First State need to have Target Market Determinations?

We’re required to have Target Market Determinations under the Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Act 2019.

This is to make sure we’re keeping members at the centre of our approach to the design and distribution of our financial products.

Target Market Determinations - Managed Investment Schemes

*Product is closed to new investors.

Procedure guides - financial adviser use only

For distributors of our FirstChoice and FirstWrap products we’ve outlined details of our Target Market Determinations and summarised the information that you're required to provide us on a regular basis under the DDO reforms.


Please note that these guides are for financial adviser use only and are not relevant to investors.

Colonial First State Investments Limited ABN 98 002 348 352, AFSL 232468 (CFSIL) is the issuer of FirstChoice Personal Super, FirstChoice Wholesale Personal Super, FirstChoice Pension, FirstChoice Wholesale Pension, FirstChoice Employer Super offered from the Colonial First State FirstChoice Superannuation Trust ABN 26 458 298 557. CFSIL also issues interests in products made available under FirstChoice Investments and FirstChoice Wholesale Investments.

Avanteos Investments Limited ABN 20 096 259 979, AFSL 245531 (AIL) is the trustee of the Avanteos Superannuation Trust ABN 38 876 896 681 which includes FirstWrap Plus Super and Pension, and is the operator of The Avanteos Wrap Account Service which includes FirstWrap Plus Investments.

The investment performance and the repayment of capital of CFSIL and AIL products is not guaranteed.

This document may include general advice but does not take into account your individual objectives, financial situation, needs or taxation circumstances. You should read the relevant Product Disclosure Statement (PDS), Financial Services Guide (FSG) or Investor Directed Portfolio Service Guide (IDPS Guide) before making an investment decision and consider talking to a financial adviser. CFSIL  PDSs and the FSG can be obtained from www.cfs.com.au or by calling 13 13 36 and FirstWrap PDSs, FSGs and IDPS Guides can be obtained from www.firstwrap.com.au or from your adviser.