(Reuters) -Australia’s corporate regulator said on Wednesday it was looking to streamline disclosure requirements for domestic pension funds, for the nation’s A$4 trillion ($2.61 trillion) superannuation industry to increase its property investments.
The Australian Securities and Investments Commission (ASIC) flagged that concerns had been raised that various disclosure requirements under a certain regulatory guide discourage investment in property by superannuation funds.
The regulation currently requires pension funds to disclose all transaction and operating costs, such as brokerage fees, buy-sell spreads, settlement and custody charges, clearing fees, and stamp duty.
It sets out which fees and costs must be reported in the super fund performance test to the country’s prudential regu