Is my money held separately from the fund manager's own money?
In a registered managed investment scheme, yes - the assets are held on trust for members, separately from the manager's own assets.
The structure typically involves a responsible entity that operates the scheme and holds the assets on trust, often with an independent custodian holding them in practice. The scheme's constitution and compliance plan govern how that works.
Separation protects you from the manager's insolvency. It does not protect you from investment loss, and it is not a guarantee. The PDS or IM sets out the actual legal structure for a specific fund - check it there.
Factual and educational information only. Nothing on this page is financial product advice, a recommendation, or a Shariah ruling. Consider your circumstances and the product's disclosure documents, and seek licensed advice and qualified scholarly guidance before acting.