TRM (Trustee) Required Disclosure
Nationwide Super is a division of the Russell Investments Master Trust. The Trustee of the Russell Investments Master Trust is Total Risk Management Pty Ltd (TRM).
Product Disclosure Statements
Updated information relating to the Nationwide Super PDS
The total Investment Fees and Costs for the Australian Fixed Income Investment Option is reduced to 0.25% per year, with effect from 1 March 2023.
Updated information relating to the Nationwide Super Investment Guide and iQ Retirement PDS
In the ‘Sector investment options’ section of the document, delete the following ^footnote beneath the ‘Global Fixed Income – $A Hedged’ option:
^Refer to the Labour standards, environmental, social and ethical considerations section of this document for further information on how the option promotes a reduction in carbon footprint exposure and good governance practices.
and replace it with this ^footnote:
^This option may invest in underlying funds that take ESG considerations into account as part of their investment strategy. For detailed information on ESG considerations, please refer to the ESG considerations section of this document.
Member Outcomes Assessment
This Member Outcomes Assessment, for the financial year ending 30 June 2022, demonstrates how members who hold MySuper and/or Choice Products in the Russell Investments Master Trust, including the Nationwide Super and Resource Super Divisions, have had their financial interests promoted through the delivery of services and the range of products and features available to them.
Annual Member Meeting
Financial Services Guide
Design & Distribution Obligations (DDO)
The Design and Distribution Obligations (DDO) are designed to help retail investors obtain financial products that are suitable for their objectives, financial situation and needs, and include the Target Market Determinations.
Summary of Significant Event Notices
TRM specific documentation
Nomination, appointment, and removal of trustees:
Russell Investments Employee Benefits, as the owner of all issued shares in TRM, and the directors themselves, have rights to appoint and remove directors.
Where a vacancy arises, Russell Investments assists the Trustee (TRM) to source appropriately qualified persons. An individual will be eligible for nomination if they:
i. Are able to satisfy the fitness and propriety requirements set out in TRM’s Fitness & Propriety Policy;
ii. Are not found to be ineligible due to affiliations or previous tenure; and
iii. Have the skills and capabilities necessary for the Board to fulfil its role and function.
In appointing a director, consideration will be given to diversity, having regard to gender, age, ethnicity and cultural background. However, it is recognised that, given the responsibilities of the Board, relevant experience, skills and knowledge, having regard to the TRM Skills Matrix, together with the candidate’s propriety are the primary considerations. TRM recognises that in appointing a director, regard must be had to the requirements of Prudential Standard SPS 510 relating to auditor independence that prevent certain persons from being appointed as a director of TRM.
A director may be removed from the Board only in the following circumstances:
1. on expiry of his/her term, where applicable;
2. immediately, where the director has become a disqualified person;
3. immediately, should all of the directors, other than the director in question, determine that the director is no longer able to fulfil his/her role in a manner that is considered acceptable, or soon as practicable, should the Board consider this desirable in order to ensure that the Board continues to maintain the required skills and experience.
No director is to remain on the Board for more than 12 consecutive years, unless approved by the Board.
Record of Attendance – Board Meetings
Conflicts Management – Policy Summary
Register of Relevant Duties and Relevant Interests
Annual Financial Statements
Proxy Voting Policies – see Corporate Governance
Exercise of Voting Rights – see Corporate Governance
TRM Service Providers
Fund administration services: Russell Investments Employee Benefits Pty Ltd (ABN: 70 099 865 013)
Investment management and related services: Russell Investment Management Ltd (ABN: 53 068 338 974)
Custodial services and Russell Investments PST administration services: State Street Australia Ltd (ABN: 21 002 965 200)