APRA’s key questions on super fund liquidity
The degree to which superannuation funds are under pressure to keep a close watch on their liquidity has been revealed by a demand from the Australian Prudential Regulation Authority (APRA) that they complete a report on their liquidity position.
Superannuation fund executives have confirmed to Money Management that they have received a spreadsheet from the regulator on their liquidity position which must be completed by the close of business on 30 March.
The regulator’s move has come amid the loss of further jobs in the sports, hospitality and retail industries which are expected to have flow through effects on fund flows as superannuation guarantee payments dry up.
A number of major industry superannuation funds have also announced downward revisions to the value of their unlisted investments.
APRA announced last week that it was changing its supervisory priorities and would be maintaining a close watch on fund liquidity.
Recommended for you
Financial Services Council chief executive, Blake Briggs, is urging Minister for Financial Services, Stephen Jones, to take advantage of the QAR opportunity to reduce regulatory duplication and ensure advice is affordable.
Former chair of the House of Representatives’ Standing Economics Committee, Tim Wilson, is planning a return to politics after losing his seat in the 2022 federal election.
Morningstar is going to offer research ratings of funds in the $3.5 trillion superannuation sector for the first time in response to demand from financial advisers.
Treasurer Jim Chalmers has opened a consultation into the design of the annual superannuation performance test, canvassing views on a range of reform options.
