The Australian Securities and Investments Commission has launched a review into superannuation investment requirements in a bid to boost investment in property.
The review will address concerns the disclosure requirements for stamp duty payments affect fund performance test results and discourage investment in property by superannuation funds.
The review panel is seeking responses from experts and key stakeholders and will publish a report by 30 November.
ASIC chair Joe Longo said: “If the review finds appropriate changes will deliver benefits without undermining disclosures, then ASIC will act.
“We want to ensure red tape isn’t unnecessarily holding back investments.”
He noted that “a significant portion” of Australia’s $4trn superannuation system already invests in property assets, but said the regulator understood there is appetite for more.
“This review will allow us to look at the way our regulations govern the calculation of fee-adjusted returns and encourage transparency and investment in our economy.”
ASIC will also consider whether class order relief should be given to harmonise how internally and externally managed private credit arrangements are disclosed.
“A change like that could encourage internal management meaning lower costs for superannuation members as well as continuing to support safe credit growth for business borrowers,” Longo said.
