Superannuation Industry (Supervision) Amendment (Your Future, Your Super - Addressing Underperformance in Superannuation) Regulations 2023 (F2023L01063)

Schedule 1   Main amendments

Superannuation Industry (Supervision) Regulations 1994

45   Subregulations 9AB.13(3) to (7)

Repeal the subregulations, substitute:

Standard Part 6A products that report gross investment return net of fees

(3) Subregulation (4) applies in relation to a Part 6A product and a quarter if:

(a) it is not possible to identify the Part 6A product's net investment return in relation to the quarter from information available to APRA; but

(b) it is possible to identify the Part 6A product's gross investment return net of fees in relation to the quarter from information available to APRA.

(4) For the purposes of subregulation (2):

(a) treat ART , in relation to a covered asset class and the quarter, as being zero; and

(b) in working out index in relation to a covered asset class identified in item 24, 25 or 26 of the table in regulation 9AB.17 and the quarter by applying subregulation 9AB.5A(7), treat ART in that subregulation as being zero.

Trustee-directed products

(5) Subregulation (6) applies in relation to a Part 6A product and a quarter if:

(a) the Part 6A product is a trustee-directed product; and

(b) at the end of the quarter, there are no member assets supporting the Part 6A product that are referable to any of the investment pathways of the Part 6A product.

(6) For the purposes of subregulation (2), treat fee and index , in relation to all covered asset classes and the quarter, as being zero.