All four are promoted by Spaceship Capital Limited.

ASIC says that Spaceship Super and Spaceship Voyager Funds have "due deficiencies in their target market determinations ".

The order made in respect of Spaceship Super is the first interim stop order on a superannuation product under the design and distribution obligations.

The funds are:

- Spaceship Super, a sub-plan of Tidswell Master Superannuation Plan, issued by Diversa Trustees Limited (Diversa),
- Spaceship Earth Portfolio (ARSN 643 773 282), Spaceship Origin Portfolio (ARSN 623 312 087), and
- Spaceship Universe Portfolio (ARSN 623 321 022) (together, the Spaceship Voyager Funds), issued by Spaceship Capital as the responsible entity.

The interim orders stop Diversa and Spaceship Capital from issuing interests in, giving a product disclosure statement for, or providing financial product advice to retail clients recommending an investment in, Spaceship Super and the Funds. ASIC made the interim orders to protect consumers and retail investors from acquiring products that may not be suitable for their financial objectives, situation or needs.

The orders are effective for 21 days unless revoked earlier. ASIC will consider making permanent orders if the deficiencies are not made good in a timely manner".

ASIC considered that the target market in the target market determination for the Spaceship Super product was defined too broadly and had not properly taken into account the risks of the product options.

ASIC considered that the target markets in the target market determination for the Spaceship Voyager Funds were defined too broadly, and had not properly considered the risks and features of the three funds.

Full details of the issues are here: https://asic.gov.au/about-asic/news-centre/find-a-media-release/2023-re…

To date, ASIC has issued 40 DDO interim stop orders. Of these, 33 interim stop orders have been lifted following actions taken by the entities to address ASIC’s concerns or where the products were withdrawn, and seven remain in place.