Your home for profit-to-member Super
Join the leading voice in profit-to-member super
Our full list of member super funds
View the upcoming courses in your city
AIST's flagship educational program
Explore the history, rules and regulations of superannuation and how it fits into Australia’s economic landscape – and become RG146 compliant.
Listing of all upcoming events
The premier idea sharing and networking event for Australia’s $1.5 trillion profit-to-member super sector
AIST's annual Superannuation Investment conference
Research, insights and advocacy on the most pressing topics in super
Our response to changes in the political and policy environment
From AIST's governance code to practical guidance and toolkits
Industry news, latest resources and event updates
Stay connected to the latest policy news
Photo, audio and video content
Our mission, vision and values
Meet our team
Our board of directors, constitution and committees
News, insights and resources as they unfold.
Stay up-to-date with the issues affecting super.
In brief: AIST proposes specific changes to the Regulations to ensure disclosure does not prejudice members best financial interests. AIST calls for the value of unlisted assets to be disclosed within overlapping price dollar ranges and for the removal of further elements of derivative disclosure.
If implemented in its current form, the disclosure regime will create the following adverse outcomes that will negatively impact financial outcomes for super fund members:
AIST appreciates the opportunity provided by the Government for additional consultation on portfolio holding disclosure and is responding to this opportunity by making a response focused on a few key points.
AIST supports portfolio holdings disclosure and a consistent regulatory framework within which this can occur (including in relation to unlisted assets and derivatives), provided it is done in a way that does not prejudice members best financial interests.
This response is intended to be read in conjunction with the submission AIST made on the Your Future Your Super Regulations and associated measures on 25 May 2021, and the 23 July 2021 letter to the Treasurer and Minister for Superannuation co-authored with the Chief Investment Officers of twelve major superannuation funds. A copy of that letter is attached – see Appendix A.
On behalf of the superannuation fund members of AIST, and following extensive consultation with them, AIST has consistently argued for a level investment playing field that enables Australian super funds to compete for the best investment return for their members. In particular, we call upon the Government to ensure the Regulations are structured so as to:
While we recognise that the Government has outlined further changes to the proposed regulations (including in relation to derivative disclosure), this submission identifies ongoing concerns with aspects of unlisted asset and derivative disclosures that are not in members best financial interests and that should be reviewed as a matter of urgency.
Read the full submission in the attachment below.