What are the Design & Distribution Obligations (DDO)?

From 5 October 2021, all retail financial product issuers need to comply with the Design and Distribution Obligations (DDO) as regulated by the Australian Securities and Investment Commission (ASIC). 

In line with DDO, retail financial products will now be required to have what is called a Target Market Determination (TMD). The TMD outlines the target market that a product is designed for after considering several key consumer attributes.

As part of the application process for new investments, investors will be asked a series of filtering questions relating to the TMD to ensure they clearly understand the key risks of the product in which they are investing.

The current open Trilogy Funds products to which DDO will apply are: 

  1. Trilogy Monthly Income Trust ARSN 121 846 722 
  2. Trilogy Enhanced Income Fund ARSN 614 682 469  
  3. Trilogy Industrial Property Trust ARSN 623 096 944  

What do I need to do? 

New Investors

If you are a new investor, please ensure you read and understand the relevant Product Disclosure Statement (PDS) and Target Market Determination (TMD) for that product before investing. From 1 October 2021, you will be asked to respond to TMD specific filtering questions as part of the application process.

Existing Investors

If you are an existing investor in one of our open funds, you should take the time to read the TMD for the product you are invested in. 

Further to the above, DDO may impact you if one of the following occurs:

  • You choose to invest in a new product under your existing investment account
  • You change your distribution preference to cross-invest (where applicable) after 1 October 2021.

In any of the instances noted above, from 1 October 2021 we will ask you to complete a series of filtering questions which will be contained within the relevant application form. 

Updated application forms incorporating TMD questions will be available from 1 October 2021. From 1 October 2021, we will not be able to process applications that do not include the TMD filtering questions.

Financial Advisers

If you are a Financial Adviser, it is important you only use the most recent Trilogy Funds application forms. Any applications received on old forms that do not include the TMD filtering questions cannot be processed after 1 October 2021.  

Please ensure you destroy any Trilogy Funds forms that you currently have on file and only use the latest versions which will be available on the website from 1 October 2021.  

For hardcopy versions, please contact our Distribution team on 1800 230 099 or email advisers@trilogyfunds.com.au

Our team is here to help

Existing or prospective investor enquiries, please contact our Investor Relations team on 1800 230 099 or email investorrelations@trilogyfunds.com.au 

Adviser queries should be directed to our Distribution team on 1800 230 099 or email advisers@trilogyfunds.com.au

Target Market Determinations (TMDs)

All product issuers are required to make a Target Market Determination (TMD) for each open retail product. The TMD outlines the target market that a product is designed for after considering several key consumer attributes. The purpose of the TMD is to ensure the product, including its key attributes, align predominantly with the investor’s objectives, financial situation and needs.  

How does the TMD apply to me?

As an investoryou will need to ensure you read and understand the product specific Product Disclosure Statement (PDS) and TMD. When you complete your application form, you will be asked a series of TMD specific filtering questions. If your answers sit outside the product’s TMD, Trilogy Funds recommends that you speak to your Financial Adviser to ensure you are investing in a product that best suits your investment objectives and risk profile. 

If you don’t have a Financial Adviser, you can speak to the Trilogy Funds Investor Relations team to learn more about the product you wish to invest in. Please note we can only provide generic product advice.

As an adviser, it is important that you familiarise yourself with the product specific TMDs. You can view our product specific TMDs below. 


Trilogy Monthly Income Trust 

Trilogy Enhanced Income Fund 

Trilogy Industrial Property Trust 

Our team is here to help

Existing or prospective investor enquiries, please contact our Investor Relations team on 1800 230 099 or email investorrelations@trilogyfunds.com.au 

Adviser queries should be directed to our Distribution team on 1800 230 099 or email advisers@trilogyfunds.com.au

Frequently Asked Questions

What are the Design & Distribution Obligations? 

The Design and Distribution Obligations (DDO) are a mandatory government legislation that will impact all issuers that offer and distribute retail financial products.  

These obligations are intended to help customers obtain the financial products that are appropriate for them.  

DDO requirements come into effect on 5 October 2021. 

What is a Target Market Determination (TMD)? 

The Target Market Determination (TMD) outlines the type of consumer for whom a product has been designed, the conditions on the sale of the product and reporting requirements. The purpose of the TMD is to ensure the product, including its key attributes, are consistent with the investor’s objectives, financial situation and needs.   

How does DDO impact me as an investor? 

Before applying for a Trilogy Funds product, you must read and understand the product specific Product Disclosure Statement (PDS) and Target Market Determination (TMD). When you complete your application form, you will be asked a series of TMD specific filtering questions.

If your answers sit outside the product’s TMD, Trilogy Funds recommends that you speak to your Financial Adviser, re-read the PDS and reconsider the key aspects of the product to ensure you are investing in a product that best suits your investment objectives and risk profile.

As an investor, how will I know if my answers sit outside of the TMD? 

If applying via the Investor Portal, an on-screen message will appear which will notify you that your answers sit outside of the product specific TMD.

If applying via a paper-based application, our Investor Relations team will contact you. 

What does it mean if my answers sit outside the product TMD? 

If we deem your answers indicate you may sit outside the product’s target market, you should speak to a Financial Adviser, re-read the PDS and/or reconsider if the product is suited to you.  

As an adviser, how does DDO impact me?

As an adviser, it is important that you familiarise yourself with the product specific TMDs to ensure you are recommending the most appropriate product to your clients.  

Our team is here to help

Existing or prospective investor enquiries, please contact our Investor Relations team on 1800 230 099 or email investorrelations@trilogyfunds.com.au 

Adviser queries should be directed to our Distribution team on 1800 230 099 or email advisers@trilogyfunds.com.au

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