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Target Market Determinations

What is a Target Market Determination?

A Target Market Determination (TMD) describes:

  • The class of customers that comprise the target market for the product

  • Any conditions or restrictions on how the product is distributed to retail customers

  • Events or circumstances where we will review the TMD for the product

Why do we need to make this TMD publicly available?

We are required to produce these TMDs to meet our Design and Distribution obligations.  The Design and Distribution obligations are intended to help consumers obtain appropriate financial products by requiring issuers and distributors to have a consumer centric approach to the design and distribution of products.


These documents are not a substitute for the product’s terms and conditions or other disclosure documents. Customers should refer to the product's terms and conditions or other disclosure documents when making a decision about this product. The TMDs, and further information on our products, can be found via the links below or by contacting us.

Our Target Market Determinations

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