As set out in the ASIC reference checking and information sharing protocol, you can contact us to submit your reference request to:

GroupCompliance@cfs.com.au

Please include a copy of the prospective representative's completed consent form with your reference request submission.

Colonial First State (“CFS”) has an established conflicts management policy that outlines its requirements regarding the identification of organisational and personal conflicts that may arise through the provision of our products and services and how they are avoided and addressed.

Our conflicts management policy is a key component of our conflicts management framework and is a primary means for communicating our approach to the management of conflicts across CFS‘s business operations in its capacity as RSE Licensee. CFS must take all reasonable steps to identify conflicts and avoid (wherever required or appropriate to do so) in accordance with the policy or otherwise prudently address actual, potential or perceived conflicts. The policy applies to CFS, its responsible persons and employees (collectively referred to as “our representatives”) and outlines how we: 

• identify any relevant duties and relevant interests of CFS and its responsible persons;
• identify and monitor all potential and actual conflicts;
• avoid conflicts unless:
  • they can be addressed prudently and fairly; and
  • priority can be given to the interests of members;
• address a conflict (in the event of a conflict arising that cannot be avoided) ensuring that the conflict is prudently addressed in accordance with the requirements of our policy, with priority given to the duties to, and interests of, beneficiaries;
• ensure that appropriate action is taken in the event of a conflict arising, including ongoing evaluation of arrangements to ensure conflicts are addressed and escalated or alternative action taken if required; and
• record in the minutes of relevant Board and committee meetings, details of each conflict identified and the action taken to avoid or prudently address the conflict.

Our representatives are required to be aware of circumstances that can give rise to a conflict and be able to identify when a conflict arises and disclose this information accordingly. Responsible persons are also required to disclose any relevant duties and relevant interests prior to their appointment and on an ongoing basis. Relevant duties and relevant interests of CFS as RSE Licensee and its responsible persons are recorded and maintained in the CFS RSE Licensee Register of Relevant Duties and Register of Relevant Interests. For further information and content contained in this register please refer below.

Regular reviews and enquiries are also undertaken to ensure we identify all conflicts arising from CFS’s relationship, or the relationship of a responsible person or employee, with an existing or prospective service provider, adviser or other personal or business interests, including any conflicts that have the potential to affect the service provider’s performance in respect of the obligations undertaken for CFS’s business operations.

Compliance with our conflicts management policy is monitored on an ongoing basis and the policy is reviewed periodically to ensure it remains adequate and operating effectively.

Acknowledgements: APRA Superannuation Prudential Standard SPS521, APRA Superannuation Practice Guide SPG 521.

RSE Licensee Register of Relevant Duties and Register of Relevant Interests

To assist in the identification and management of potential and actual conflicts, CFS maintains an RSE Licensee Register of Relevant Duties and Register of Relevant Interests. The registers contain up-to-date information of any Relevant Duties and Relevant Interests that apply to Avanteos Investments Limited as RSE Licensee under CFS, and its Responsible Persons.

AIL is the trustee company that manages CFS super funds. These include FirstChoice super and pension products and CFS wrap super and pension products. 

Established in 1988, AIL was previously the operator, administrator and custodian (IDPS operator) for CFS wrap IDPS products, including FirstWrap.

Yes, AIL is a subsidiary of Superannuation and Investments HoldCo Pty Limited which is known as Colonial First State, one of Australia’s leading wealth management groups.

AIL is a wholly owned subsidiary of CFS which is majority owned (55%) by an affiliate of Kohlberg Kravis Roberts & Co. L.P. (KKR), with the Commonwealth Bank of Australia holding a significant minority interest (45%).

KKR is a leading American global investment firm with over four decades of experience investing across a number of strategies and assets classes – such as private equity, real estate, energy, infrastructure and credit – in addition to capital markets activities.

Member super funds invested with CFS are held in a trust structure. This means the super trustee (AIL) holds the assets of the super fund in trust for members and other beneficiaries of the fund.

Some of the most important duties of a trustee are to:

• act in the best financial interest of members
  
• act honestly and fairly
  
• invest trust funds responsibly (exercising due diligence, care and skill)
  
• act impartially toward beneficiaries and different classes of beneficiaries.
  

A super trustee must comply with extensive regulatory requirements, and is subject to significant government regulatory supervision and oversight.

Member funds invested with CFS (including AIL) are held in a trust structure and strictly regulated to protect members' interests.

CFS superannuation funds comply with all relevant Australian laws and regulations, including the Superannuation Industry (Supervision) Act and the Corporations Act and are regulated by both the Australian Prudential Regulation Authority (APRA) and Australian Securities and Investment Commission (ASIC).

_{* Funds under administration (FUA) for AIL after the transition is based on FUA held by AIL and CFSIL in January 2022.} 

At Colonial First State (CFS), speaking up is a critical component of our values expectations. We are committed to fostering a culture where our people, suppliers and other third parties feel safe and are encouraged to report on matters or conduct that concern them. The CFS Whistleblower Policy aims to provide clarity on how our people, suppliers and other third parties can express their concerns and what will happen if they do.

Contact Stopline

• Phone: 1300 30 45 50 (Australia Only) 
  Calls will be received by Stopline on Business Days between 8.00 AM and 6.00 PM (AEST). Outside these times, the Discloser may leave a voicemail or choose to speak with Stopline. If a voicemail is left with sufficient details, Stopline will return the call upon resumption of the hotline’s normal business hours. 
• Mail: Attn.: Colonial First State, c/o Stopline 
  PO Box 403
  Diamond Creek
  VIC 3089
• Email: makeareport@stopline.com.au
• Website: https://cfs.stoplinereport.com/ 
• Via Smartphone: