AustralianSuper welcomes Portfolio Holdings Disclosure regulations

AustralianSuper has welcomed the Government’s new Portfolio Holdings Disclosure (PHD) regulations as a sensible and workable way for superannuation funds to meet member expectations around transparency while delivering strong returns.

Under the regulations, super funds would be required to first report their holdings by 31 March, 2022, with portfolio holdings disclosure to occur every six months thereafter.

Australia’s largest super fund said the Government’s removal of the requirement for super funds to disclose commercially-sensitive valuations for each unlisted asset and instead provide aggregate valuations based on asset type, would ensure transparency without harming members financial interests.

The fund said the regulations also removed the requirements in the draft regulations for tens of thousands of lines of incomplete transaction data to be disclosed to members.

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“AustralianSuper has led the industry in voluntary portfolio holdings disclosure since 2016,” it said in a statement.

“Our feedback from members who have accessed the Fund’s PHD reporting is almost 90 per cent felt the level of information was about right.

“This decision will ensure members will be able to continue to invest in high quality assets both domestically and globally with certainty and confidence.”