In one of those marvelous pro-cyclical moments unwittingly favoured by regulators, APRA has just dealt super funds a major shit sandwich:
The corporate and prudential regulators have warned the $3.4 trillion superannuation industry to be proactive about updating the values of unlisted assets, amid price falls spurred by rising interest rates and the global banking crisis.
Australian Securities and Investments Commissioner Danielle Press said it was “really critical to get [unlisted asset valuations] right” following increased volatility and the “banking issues we’ve seen recently”.
