POWERED BY MOMENTUM MEDIA
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.
“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.”
Recommended for you
A major super fund has defended its use of private markets in a submission to ASIC, asserting that appropriate governance and information-sharing practices are present in both public and private markets.
A member body representing some prominent wealth managers is concerned super funds’ dominance is sidelining small companies in capital markets.
Earlier this month, several Australian superannuation funds fell victim to credential stuffing attacks, which saw a small number of members lose more than $500,000.
Small- to medium-sized funds have become collateral damage in an "imperfect" model for super industry levies, a financial institution has said.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
93.34 3 y p.a(%)
2
Global X GlobalX FANG+ ETF
37.15 3 y p.a(%)
3
GAM LSA Private Shares AU I
33.96 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
29.68 3 y p.a(%)
5
Plato Global Alpha A
28.73 3 y p.a(%)
