AIST supports the proposals which have an ongoing focus on improving member outcomes. AIST notes that there are three key issues which are fundamental and need addressing, being the difficulty of meaningful benchmarking, the existence of various disclosure gaps and clarity needed in relation to the interaction with various pending legislative amendments. AIST believes that the outcomes criteria needs to give primacy of focus to long-term net returns backed with the provision of quality outcomes by RSE licensees, whilst accommodating tactical investment options such as cash.