12 Jan 2012

Australia plans super fund disclosure changes

8:55 am on 12 January 2012

Australia's corporate regulator is working on guidelines to increase the disclosure of investments made by superannuation funds.

The ABC reports that the Australian Securities and Investments Commission is expected to release draft guidelines mid-year.

They would require super funds to tell their members where their money is invested.

The Financial Services Council which represents for-profit superannuation funds supports the move

Chief executive John Brogden says investors will be able to find out which industry sectors their fund invests in on the share market, but not which companies.

The move is likely to lead to increased management fees for investors.