POWERED BY MOMENTUM MEDIA
APRA issues warning on super fund ownership and control
Superannuation funds have been reminded they need to report any shareholdings in the fund held by members of their trustee boards.
The Australian Prudential Regulation Authority (APRA) has written to superannuation funds reminding them of their obligation and noting that it had observed that some had been falling short.
“APRA has observed that, since the introduction of the controlling stake requirements, RSE licensees and the relevant persons acquiring the controlling stakes may not have always considered the application of these requirements to their particular circumstances,” it said in a letter to the funds.
“For example, APRA is aware that some RSE licensee directors hold shares in an RSE licensee. Where this is the case, it may be that the appointment of a new director or removal of an existing director has triggered the controlling stake requirement,” it said.
“Ensuring compliance with the controlling stake requirements is important, as a failure to obtain APRA’s approval prior to owning a controlling stake in an RSE licensee is a strict liability offence under s. 29JCB of the SIS Act which may attract severe penalties.”
The APRA letter has detailed actions it requires of the superannuation fund licensees as a mater of priority, including identifying any changes to the ownership of shares, and obtaining professional advice where necessary.
Recommended for you
The lower outlook for inflation has set the stage for another two rate cuts over the first half of 2026, according to Westpac.
With private asset valuations emerging as a key concern for both regulators and the broader market, Apollo Global Management has called on the corporate regulator to issue clear principles on valuation practices, including guidance on the disclosures it expects from market participants.
Institutional asset owners are largely rethinking their exposure to the US, with private markets increasingly being viewed as a strategic investment allocation, new research has shown.
Australia’s corporate regulator has been told it must quickly modernise its oversight of private markets, after being caught off guard by the complexity, size, and opacity of the asset class now dominating institutional portfolios.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
92.15 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
53.24 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
43.15 3 y p.a(%)
4
DomaCom Shoreline North Coogee
36.26 3 y p.a(%)
5
GAM LSA Private Shares AU I
35.87 3 y p.a(%)
