The aluminium and nickel contents of Cu–Al–Ni alloy are varied to relate the parent phase chemistry to its shape memory behaviour. Rare earth and grain refining elements (titanium, zirconium, boron, etc.) are added in minor quantities to assess their effects on the grain refinement of the alloy and also on its shape recovery behaviour. It is observed that increasing the aluminium and nickel contents decreases the shape recovery temperature whereas minor additions are found to increase it. The alloys have been aged in the parent as well as the martensitic phase to investigate the influence of minor additions on their aging response. It is observed that precipitation of γ2 phase occurs during the initial stage of aging of the ternary alloy. The aging behaviour is monitored via changes in resistivity and hardness of the alloys during aging. Minor additions are found to retard the precipitation of γ2 phase during aging. Titanium and rare earths particularly reduce the tendency for grain coarsening in the alloy. It is further observed that two types of martensite, β′1 and γ′1, are produced in the alloys under investigation. The transformation temperatures of these martensites are also related to the aluminium content of the alloy.MST/1744