{"id":"F2021L01280","name":"Financial Sector (Collection of Data) (reporting standard) determination No. 21 of 2021","slug":"financial-sector-collection-of-data-reporting-standard-determination-no-21-of-2021","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":102071,"registerId":"commonwealth-F2021L01280-current","compilationNumber":null,"startDate":"2026-04-03","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"Reporting Standard SRS 705.1","sectionType":"part","heading":"Reporting Standard SRS 705.1","content":"![](image.002.png)\n\n# Reporting Standard SRS 705.1\n\n# Investment Performance and Objectives\n\n![](image.003.png)\n\n### Authority\n\n1.  This Reporting Standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001.\n\n### Purpose\n\n2. Information collected under this Reporting Standard is used by APRA for the purposes of prudential supervision and publication. It may also be used by the Australian Securities and Investments Commission.\n\n### Application\n\n3. This Reporting Standard applies to each registrable superannuation entity (RSE) licensee (RSE licensee) in respect of each RSE, defined benefit RSE and eligible rollover fund (ERF) within its business operations.\n\n### Commencement\n\n4. This Reporting Standard Standard commences on the day it is registered on the Federal Register of Legislation.\n\n### Reporting periods\n\n5. Reporting periods under this Reporting Standard are each calendar quarter (i.e. the periods ending 30 September, 31 December, 31 March and 30 June each year).\n\n### Historical information required\n\n6. RSE licensees must provide information required by this Reporting Standard for each reporting period ending or after 30 September 2011 but before 30 June 2021.\n\n7. An RSE licensee to which this Reporting Standard applies must provide the information required under paragraph 6, where the information relates to an investment option underlying a MySuper product or a trustee-directed product, by 28 February 2022.\n\n8. An RSE licensee to which this Reporting Standard applies must provide the information required under paragraph 6, where the information relates to any other investment option, by 28 July 2022.\n\nInitial information required\n\n9. RSE licensees must provide information required by this Reporting Standard for each reporting period ending on or after 30 June 2021 but before 30 June 2022.\n\n10. An RSE licensee to which this Reporting Standard applies must provide the information required by paragraph 9, where the information relates to an investment option underlying a MySuper product for the reporting period ending on 30 June 2021, by 30 September 2021.\n\n11. An RSE licensee to which this Reporting Standard applies must provide the information required by paragraph 9, where the information relates to an investment option underlying trustee-directed product for the reporting period ending on 30 June 2021, by 28 October 2021.\n\n12. An RSE licensee to which this Reporting Standard applies must provide the information required by paragraph 9, where the information relates to an investment option underlying a MySuper product or a trustee-directed product for the reporting periods ending on or after 30 September 2021 but before 30 June 2022, within 35 calendar days after the end of the relevant reporting period.\n\n13. An RSE licensee to which this Reporting Standard applies must provide the information required by paragraph 9, where the information relates to any other investment option, by 28 July 2022.\n\nInformation required\n\n14. RSE licensees must provide information required under this Reporting Standard for reporting periods ending on or after 30 June 2022.\n\n15. An RSE licensee to which this Reporting Standard applies must provide the information required by paragraph 14, within 28 calendar days after the end of the relevant reporting period.\n\nNotices\n\n16. If, having regard to the particular circumstances of an RSE, defined benefit RSE or ERF, APRA considers it necessary or desirable to obtain information more or less frequently than as provided by paragraph 5, APRA may, by notice in writing, change the reporting periods for the particular RSE, defined benefit RSE or ERF.\n\n17. Where APRA has changed the reporting periods under paragraph 16, the RSE licensee must provide the relevant information within the time specified by the notice in writing.\n\n18. APRA may grant, in writing, an RSE licensee an extension of a due date with respect to one or more RSEs, defined benefit RSEs or ERFs within its business operations, in which case the new due date for the provision of the information will be the due date specified on the notice of extension.\n\nNote: For the avoidance of doubt, if the due date for a particular reporting period falls on a day other than a usual business day, an RSE licensee is nonetheless required to submit the information required no later than the due date.\n\n### Form and method of submission\n\n19. The information required by this Reporting Standard must be given to APRA in electronic format using an electronic method available on APRA’s website or by a method notified by APRA prior to submission.\n\n### Quality control\n\n20. The information provided by an RSE licensee under this Reporting Standard must be the product of systems, procedures and internal controls that have been reviewed and tested by the RSE auditor of the RSE, defined benefit RSE or ERF to which the information relates[\\[1\\]](#_ftn1). This will require the RSE auditor to review and test the RSE licensee’s systems, procedures and internal controls designed to enable the RSE licensee to report reliable information to APRA. This review and testing must be done on:\n\n(a) an annual basis or more frequently if necessary to enable the RSE auditor to form an opinion on the reliability and accuracy of information; and\n\n(b) at least a limited assurance engagement consistent with professional standards and guidance notes issued by the Auditing and Assurance Standards Board as may be amended from time to time, to the extent that they are not inconsistent with the requirements of Prudential Standard SPS 310 Audit and Related Matters (SPS 310).\n\n21. All information provided by an RSE licensee under this Reporting Standard must be subject to systems, processes and controls developed by the RSE licensee for the internal review and authorisation of that information. It is the responsibility of the Board and senior management of the RSE licensee to ensure that an appropriate set of policies, procedures and controls for the authorisation of information submitted to APRA is in place.\n\n### Authorisation\n\n22. When an officer or agent of an RSE licensee provides the information required by this Reporting Standard using an electronic format, the officer or agent must digitally sign the relevant information using a digital certificate acceptable to APRA.\n\n23. If the information required by this Reporting Standard is provided by an agent who submits the information on the RSE licensee’s behalf, the RSE licensee must:\n\n(a) obtain from the agent a copy of the completed form with the information provided to APRA; and\n\n(b) retain the completed copy.\n\n24. An officer or agent of an RSE licensee who submits the information under this Reporting Standard for, or on behalf of, the RSE licensee must be authorised by either:\n\n(a) the Chief Executive Officer of the RSE licensee; or\n\n(b) the Chief Financial Officer of the RSE licensee.\n\n### Minor alterations to forms and instructions\n\n25. APRA may make minor variations to:\n\n(a) a form that is part of this Reporting Standard, and the instructions to such a form, to correct technical, programming or logical errors, inconsistencies or anomalies; or\n\n(b) the instructions to a form, to clarify their application to the form,\n\nwithout changing any substantive requirement in the form or instructions.\n\n26. If APRA makes such a variation, it must notify each RSE licensee that is required to report under this Reporting Standard.\n\n### Interpretation\n\n27. In this Reporting Standard:\n\nAPRA means the Australian Prudential Regulation Authority established under the Australian Prudential Regulation Authority Act 1998.\n\nChief Executive Officer means the chief executive officer of the RSE licensee, by whatever name called, and whether or not he or she is a member of the Board of the RSE licensee[\\[2\\]](#_ftn2).\n\nChief Financial Officer means the chief financial officer of the RSE licensee, by whatever name called.\n\ndefined benefit RSE has the meaning of defined benefit fund in subsection 10(1) of the SIS Act.\n\ndue date means the relevant due date under paragraph 7, 8, 10, 11, 12, 13, 15, and if applicable, paragraph 18 of this Reporting Standard.\n\neligible rollover fund (ERF) has the meaning given in subsection 10(1) of the SIS Act.\n\ninvestment option has the meaning given in SRS 101.0.\n\nMySuper product has the meaning given in subsection 10(1) of the SIS Act.\n\nreporting period means a period mentioned in paragraph 5 or, if applicable, paragraph 16 of this Reporting Standard.\n\nRSE means a registrable superannuation entity as defined in subsection 10(1) of the SIS Act that is not a defined benefit RSE, pooled superannuation trust, ERF, small APRA fund or single member approved deposit fund[\\[3\\]](#_ftn3).\n\nRSE auditor means an auditor appointed by the RSE licensee to perform functions under this Reporting Standard.\n\nRSE licensee has the meaning given in subsection 10(1) of the SIS Act.\n\nSIS Act means Superannuation Industry (Supervision) Act 1993.\n\n28. In this Reporting Standard, unless the contrary intention appears, a reference to an Act, Regulation, Prudential Standard, Reporting Standard, Australian Accounting Standard or Auditing Standard is a reference to the instrument as in force or existing from time to time.\n\n29. Where this Reporting Standard provides for APRA to exercise a power or discretion, this power or discretion is to be exercised in writing.","sortOrder":0},{"sectionNumber":"Investment Performance and Objectives","sectionType":"part","heading":"Investment Performance and Objectives","content":"# Investment Performance and Objectives\n\n![](image.003.png)","sortOrder":1},{"sectionNumber":"Authority","sectionType":"division","heading":"Authority","content":"### Authority\n\n1.  This Reporting Standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001.","sortOrder":2},{"sectionNumber":"Purpose","sectionType":"division","heading":"Purpose","content":"### Purpose\n\n2. Information collected under this Reporting Standard is used by APRA for the purposes of prudential supervision and publication. It may also be used by the Australian Securities and Investments Commission.","sortOrder":3},{"sectionNumber":"Application","sectionType":"division","heading":"Application","content":"### Application\n\n3. This Reporting Standard applies to each registrable superannuation entity (RSE) licensee (RSE licensee) in respect of each RSE, defined benefit RSE and eligible rollover fund (ERF) within its business operations.","sortOrder":4},{"sectionNumber":"Commencement","sectionType":"division","heading":"Commencement","content":"### Commencement\n\n4. This Reporting Standard Standard commences on the day it is registered on the Federal Register of Legislation.","sortOrder":5},{"sectionNumber":"Reporting periods","sectionType":"division","heading":"Reporting periods","content":"### Reporting periods\n\n5. Reporting periods under this Reporting Standard are each calendar quarter (i.e. the periods ending 30 September, 31 December, 31 March and 30 June each year).","sortOrder":6},{"sectionNumber":"Historical information required","sectionType":"division","heading":"Historical information required","content":"### Historical information required\n\n6. RSE licensees must provide information required by this Reporting Standard for each reporting period ending or after 30 September 2011 but before 30 June 2021.\n\n7. An RSE licensee to which this Reporting Standard applies must provide the information required under paragraph 6, where the information relates to an investment option underlying a MySuper product or a trustee-directed product, by 28 February 2022.\n\n8. An RSE licensee to which this Reporting Standard applies must provide the information required under paragraph 6, where the information relates to any other investment option, by 28 July 2022.\n\nInitial information required\n\n9. RSE licensees must provide information required by this Reporting Standard for each reporting period ending on or after 30 June 2021 but before 30 June 2022.\n\n10. An RSE licensee to which this Reporting Standard applies must provide the information required by paragraph 9, where the information relates to an investment option underlying a MySuper product for the reporting period ending on 30 June 2021, by 30 September 2021.\n\n11. An RSE licensee to which this Reporting Standard applies must provide the information required by paragraph 9, where the information relates to an investment option underlying trustee-directed product for the reporting period ending on 30 June 2021, by 28 October 2021.\n\n12. An RSE licensee to which this Reporting Standard applies must provide the information required by paragraph 9, where the information relates to an investment option underlying a MySuper product or a trustee-directed product for the reporting periods ending on or after 30 September 2021 but before 30 June 2022, within 35 calendar days after the end of the relevant reporting period.\n\n13. An RSE licensee to which this Reporting Standard applies must provide the information required by paragraph 9, where the information relates to any other investment option, by 28 July 2022.\n\nInformation required\n\n14. RSE licensees must provide information required under this Reporting Standard for reporting periods ending on or after 30 June 2022.\n\n15. An RSE licensee to which this Reporting Standard applies must provide the information required by paragraph 14, within 28 calendar days after the end of the relevant reporting period.\n\nNotices\n\n16. If, having regard to the particular circumstances of an RSE, defined benefit RSE or ERF, APRA considers it necessary or desirable to obtain information more or less frequently than as provided by paragraph 5, APRA may, by notice in writing, change the reporting periods for the particular RSE, defined benefit RSE or ERF.\n\n17. Where APRA has changed the reporting periods under paragraph 16, the RSE licensee must provide the relevant information within the time specified by the notice in writing.\n\n18. APRA may grant, in writing, an RSE licensee an extension of a due date with respect to one or more RSEs, defined benefit RSEs or ERFs within its business operations, in which case the new due date for the provision of the information will be the due date specified on the notice of extension.\n\nNote: For the avoidance of doubt, if the due date for a particular reporting period falls on a day other than a usual business day, an RSE licensee is nonetheless required to submit the information required no later than the due date.","sortOrder":7},{"sectionNumber":"Form and method of submission","sectionType":"division","heading":"Form and method of submission","content":"### Form and method of submission\n\n19. The information required by this Reporting Standard must be given to APRA in electronic format using an electronic method available on APRA’s website or by a method notified by APRA prior to submission.","sortOrder":8},{"sectionNumber":"Quality control","sectionType":"division","heading":"Quality control","content":"### Quality control\n\n20. The information provided by an RSE licensee under this Reporting Standard must be the product of systems, procedures and internal controls that have been reviewed and tested by the RSE auditor of the RSE, defined benefit RSE or ERF to which the information relates[\\[1\\]](#_ftn1). This will require the RSE auditor to review and test the RSE licensee’s systems, procedures and internal controls designed to enable the RSE licensee to report reliable information to APRA. This review and testing must be done on:\n\n(a) an annual basis or more frequently if necessary to enable the RSE auditor to form an opinion on the reliability and accuracy of information; and\n\n(b) at least a limited assurance engagement consistent with professional standards and guidance notes issued by the Auditing and Assurance Standards Board as may be amended from time to time, to the extent that they are not inconsistent with the requirements of Prudential Standard SPS 310 Audit and Related Matters (SPS 310).\n\n21. All information provided by an RSE licensee under this Reporting Standard must be subject to systems, processes and controls developed by the RSE licensee for the internal review and authorisation of that information. It is the responsibility of the Board and senior management of the RSE licensee to ensure that an appropriate set of policies, procedures and controls for the authorisation of information submitted to APRA is in place.","sortOrder":9},{"sectionNumber":"Authorisation","sectionType":"division","heading":"Authorisation","content":"### Authorisation\n\n22. When an officer or agent of an RSE licensee provides the information required by this Reporting Standard using an electronic format, the officer or agent must digitally sign the relevant information using a digital certificate acceptable to APRA.\n\n23. If the information required by this Reporting Standard is provided by an agent who submits the information on the RSE licensee’s behalf, the RSE licensee must:\n\n(a) obtain from the agent a copy of the completed form with the information provided to APRA; and\n\n(b) retain the completed copy.\n\n24. An officer or agent of an RSE licensee who submits the information under this Reporting Standard for, or on behalf of, the RSE licensee must be authorised by either:\n\n(a) the Chief Executive Officer of the RSE licensee; or\n\n(b) the Chief Financial Officer of the RSE licensee.","sortOrder":10},{"sectionNumber":"Minor alterations to forms and instructi","sectionType":"division","heading":"Minor alterations to forms and instructions","content":"### Minor alterations to forms and instructions\n\n25. APRA may make minor variations to:\n\n(a) a form that is part of this Reporting Standard, and the instructions to such a form, to correct technical, programming or logical errors, inconsistencies or anomalies; or\n\n(b) the instructions to a form, to clarify their application to the form,\n\nwithout changing any substantive requirement in the form or instructions.\n\n26. If APRA makes such a variation, it must notify each RSE licensee that is required to report under this Reporting Standard.","sortOrder":11},{"sectionNumber":"Interpretation","sectionType":"division","heading":"Interpretation","content":"### Interpretation\n\n27. In this Reporting Standard:\n\nAPRA means the Australian Prudential Regulation Authority established under the Australian Prudential Regulation Authority Act 1998.\n\nChief Executive Officer means the chief executive officer of the RSE licensee, by whatever name called, and whether or not he or she is a member of the Board of the RSE licensee[\\[2\\]](#_ftn2).\n\nChief Financial Officer means the chief financial officer of the RSE licensee, by whatever name called.\n\ndefined benefit RSE has the meaning of defined benefit fund in subsection 10(1) of the SIS Act.\n\ndue date means the relevant due date under paragraph 7, 8, 10, 11, 12, 13, 15, and if applicable, paragraph 18 of this Reporting Standard.\n\neligible rollover fund (ERF) has the meaning given in subsection 10(1) of the SIS Act.\n\ninvestment option has the meaning given in SRS 101.0.\n\nMySuper product has the meaning given in subsection 10(1) of the SIS Act.\n\nreporting period means a period mentioned in paragraph 5 or, if applicable, paragraph 16 of this Reporting Standard.\n\nRSE means a registrable superannuation entity as defined in subsection 10(1) of the SIS Act that is not a defined benefit RSE, pooled superannuation trust, ERF, small APRA fund or single member approved deposit fund[\\[3\\]](#_ftn3).\n\nRSE auditor means an auditor appointed by the RSE licensee to perform functions under this Reporting Standard.\n\nRSE licensee has the meaning given in subsection 10(1) of the SIS Act.\n\nSIS Act means Superannuation Industry (Supervision) Act 1993.\n\n28. In this Reporting Standard, unless the contrary intention appears, a reference to an Act, Regulation, Prudential Standard, Reporting Standard, Australian Accounting Standard or Auditing Standard is a reference to the instrument as in force or existing from time to time.\n\n29. Where this Reporting Standard provides for APRA to exercise a power or discretion, this power or discretion is to be exercised in writing.","sortOrder":12},{"sectionNumber":"Reporting Form SRF 705.1","sectionType":"part","heading":"Reporting Form SRF 705.1","content":"# Reporting Form SRF 705.1\n\n# Investment Performance and Objectives\n\n# Instruction Guide\n\nThis instruction guide is designed to assist in the completion of Reporting Form SRF 705.1 Investment Performance and Objectives (SRF 705.1).\n\nGeneral directions and notes\n\n### Reporting level\n\nSRF 705.1 must be completed for each registrable superannuation entity (RSE), defined benefit RSE and eligible rollover fund (ERF).\n\n### Reporting tables\n\nTables described in this reporting form list each of the data fields required to be reported. The data fields are listed sequentially in the column order that they will appear in the reported data set. Constraints on the data that can be reported for each field have also been provided.\n\nThe Unique identifier column indicates which field or fields form the primary key of the table. Where a field has ‘Y’ in the Unique identifier column, this denotes that this field forms part of the primary key for the table. A blank cell in the Unique identifier column means that the field does not form part of the primary key for the table. Any specific combination of values in the fields that form the primary key of a table must not appear on more than one row in that table when reported.\n\n### Reporting basis and unit of measurement\n\nAmounts in SRF 705.1 are to be reported as percentages, whole numbers or numbers with decimals as specified. Percentages are to be reported as an unconverted number to two decimal places or as specified. For example, 12.34 per cent is to be reported as 0.1234.\n\nItems on SRF 705.1 must be reported as at the end of the reporting period or with respect to transactions that occurred during the reporting period as specified.\n\n### Definitions\n\nTerms highlighted in bold italics indicate that the definition is provided in Reporting Standard SRS 101.0 Definitions for Superannuation Data Collections (SRS 101.0).\n\nSpecific instructions\n\n### Attribution of data to superannuation product, investment menu or investment option\n\nSRF 705.1 must be completed in respect of each investment option offered by the RSE excluding the following:\n\n    investment options which have been aggregated as permitted in Item 3 of Reporting Form SRF 605.0 RSE Structure (SRF 605.0);\n    investment options which solely underlie defined benefits; and\n    investment options which are reported on SRF 605.0 with the Investment Option Category Type of 'Annuity’.\n\nWhere the data is applicable to all members in the investment option, the RSE licensee must report data for that investment option and report ‘ALL’ for the remaining RSE structure levels.\n\nWhere the data varies depending on the superannuation product and/or investment menu, the RSE licensee must report data for each relevant combination of superannuation product, investment menu and investment option.\n\nTherefore, the RSE does not need to report every combination of superannuation product, investment menu and investment option that they have, only those combinations that lead to distinct return objectives, returns or volatilities being reported.\n\n### Table 1: Investment objectives\n\nReport the investment objectives detailed in the table below for each investment option as at the end of the reporting period. Where the investment objectives differ by superannuation product or investment menu, this should be indicated by use of the appropriate identifier in these fields, otherwise make use of “ALL” as described above.\n\n| Column | Field name                        | Unique identifier | Applicable to | Valid values                                                                              | Description                                                                                                                                                       |\n| ------ | --------------------------------- | ----------------- | ------------- | ----------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| 1      | Superannuation Product Identifier | Y                 | All filers    | No more than 20 alpha-numeric characters (with no special characters)                     | Report the superannuation product identifier. The superannuation product identifier must correspond to a superannuation product identifier reported in SRF 605.0. |\n| 2      | Investment Menu Identifier        | Y                 | All filers    | No more than 20 alpha-numeric characters (with no special characters)                     | Report the investment menu identifier. The investment menu identifier must correspond to an investment menu identifier reported in SRF 605.0.                     |\n| 3      | Investment Option Identifier      | Y                 | All filers    | No more than 20 alpha-numeric characters (with no special characters)                     | Report the investment option identifier. The investment option identifier must correspond to an investment option identifier reported in SRF 605.0.               |\n| 4      | Return Objective Start Date       |                   | All filers    | Date values                                                                               | Report the start date of the return objective.                                                                                                                    |\n| 5      | Return Measurement Type           |                   | All filers    | Gross Investment ReturnGross Investment Return Net Of FeesNet Investment ReturnNet Return | Report the return measurement.                                                                                                                                    |\n| 6      | Return Objective Benchmark Text   |                   | All filers    | Free text                                                                                 | Report the benchmark.                                                                                                                                             |\n| 7      | Return Margin Percent             |                   | All filers    | Percentage to 4 decimal places                                                            | Report the return margin as a percentage per annum.                                                                                                               |\n| 8      | Investment Horizon Years Number   |                   | All filers    | Number to 2 decimal places.                                                               | Report the investment horizon in years.                                                                                                                           |\n\n### Table 2: Comparison of return to benchmark\n\nReport the information in this table for each investment option that was available to members for some or all of the reporting period. Where the investment option commenced or ceased during the reporting period, report for the period for which it was available. Where values differ by superannuation product or investment menu, this should be indicated by use of the appropriate identifier in these fields, otherwise make use of “ALL” as described above.\n\nReport columns 1 to 10 with respect to transactions that occurred during the reporting period. Report columns 11 and 12 as at the end of the reporting period.\n\nReturns reported should be the effective rate earned for the reporting period and should not be converted to an annual or other rate.\n\n| Column | Field name                                                | Unique identifier | Applicable to | Valid values                                                                              | Description                                                                                                                                                                                                                                                                                                                                                                                                   |\n| ------ | --------------------------------------------------------- | ----------------- | ------------- | ----------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| 1      | Fees And Costs Arrangement Identifier                     | Y                 | All filers    | No more than 20 alpha-numeric characters (with no special characters)                     | Report the fees and costs arrangement identifier that the performance relates to. The fees and costs arrangement identifier must correspond to a fees and costs arrangement identifier reported in SRF 605.0.                                                                                                                                                                                                 |\n| 2      | Superannuation Product Identifier                         | Y                 | All filers    | No more than 20 alpha-numeric characters (with no special characters)                     | Report the superannuation product identifier. The superannuation product identifier must correspond to a superannuation product identifier reported in SRF 605.0.                                                                                                                                                                                                                                             |\n| 3      | Investment Menu Identifier                                | Y                 | All filers    | No more than 20 alpha-numeric characters (with no special characters)                     | Report the investment menu identifier. The investment menu identifier must correspond to an investment menu identifier reported in SRF 605.0.                                                                                                                                                                                                                                                                 |\n| 4      | Investment Option Identifier                              | Y                 | All filers    | No more than 20 alpha-numeric characters (with no special characters)                     | Report the investment option identifier. The investment option identifier must correspond to an investment option identifier reported in SRF 605.0.                                                                                                                                                                                                                                                           |\n| 5      | Return Measurement Comparison Type                        |                   | All filers    | Gross Investment Return Net Of FeesNet Investment Return                                  | Report the comparison return type.This is required in order to allow comparison of returns between investment options.In most cases, this will be the Net Investment Return of the investment option.Where the tax for the investment option is determined on a member by member basis rather than as an aggregate for the investment option, the Gross Investment Return Net Of Fees should be used instead. |\n| 6      | Return Measurement Comparison Percent                     |                   | All filers    | Percentage to 4 decimal places                                                            | Report the comparison return (%) as a percentage.                                                                                                                                                                                                                                                                                                                                                             |\n| 7      | Return Measurement Option Type                            |                   | All filers    | Gross Investment ReturnGross Investment Return Net Of FeesNet Investment ReturnNet Return | Report the option return type. This is the type of return used for measuring the option return, for the purpose of comparison with the return objective target return.                                                                                                                                                                                                                                        |\n| 8      | Return Measurement Option Percent                         |                   | All filers    | Percentage to 4 decimal places                                                            | Report the option return (%) as a percentage.                                                                                                                                                                                                                                                                                                                                                                 |\n| 9      | Return Objective Target Return Description Text           |                   | All filers    | Free text                                                                                 | Report the return objective target return description.This is a description of how the return objective target return was calculated for the reporting period.                                                                                                                                                                                                                                                |\n| 10     | Return Objective Target Return Percent                    |                   | All filers    | Percentage to 4 decimal places                                                            | Report the return objective target return as a percentage.                                                                                                                                                                                                                                                                                                                                                    |\n| 11     | Return Investment Five Year Volatility Comparison Percent |                   | All filers    | Percentage to 2 decimal places                                                            | Report the volatility of comparison return (5 years) as at the end of the reporting period.If the volatility of comparison return (5 years) cannot be determined, this field should be left blank.                                                                                                                                                                                                            |\n| 12     | Return Investment Ten Year Volatility Comparison Percent  |                   | All filers    | Percentage to 2 decimal places                                                            | Report the volatility of comparison return (10 years) as at the end of the reporting period.If the volatility of comparison return (10 years) cannot be determined, this field should be left blank.                                                                                                                                                                                                          |","sortOrder":13},{"sectionNumber":"Instruction Guide","sectionType":"part","heading":"Instruction Guide","content":"# Instruction Guide\n\nThis instruction guide is designed to assist in the completion of Reporting Form SRF 705.1 Investment Performance and Objectives (SRF 705.1).\n\nGeneral directions and notes","sortOrder":15},{"sectionNumber":"Reporting level","sectionType":"division","heading":"Reporting level","content":"### Reporting level\n\nSRF 705.1 must be completed for each registrable superannuation entity (RSE), defined benefit RSE and eligible rollover fund (ERF).","sortOrder":16},{"sectionNumber":"Reporting tables","sectionType":"division","heading":"Reporting tables","content":"### Reporting tables\n\nTables described in this reporting form list each of the data fields required to be reported. The data fields are listed sequentially in the column order that they will appear in the reported data set. Constraints on the data that can be reported for each field have also been provided.\n\nThe Unique identifier column indicates which field or fields form the primary key of the table. Where a field has ‘Y’ in the Unique identifier column, this denotes that this field forms part of the primary key for the table. A blank cell in the Unique identifier column means that the field does not form part of the primary key for the table. Any specific combination of values in the fields that form the primary key of a table must not appear on more than one row in that table when reported.","sortOrder":17},{"sectionNumber":"Reporting basis and unit of measurement","sectionType":"division","heading":"Reporting basis and unit of measurement","content":"### Reporting basis and unit of measurement\n\nAmounts in SRF 705.1 are to be reported as percentages, whole numbers or numbers with decimals as specified. Percentages are to be reported as an unconverted number to two decimal places or as specified. For example, 12.34 per cent is to be reported as 0.1234.\n\nItems on SRF 705.1 must be reported as at the end of the reporting period or with respect to transactions that occurred during the reporting period as specified.","sortOrder":18},{"sectionNumber":"Definitions","sectionType":"division","heading":"Definitions","content":"### Definitions\n\nTerms highlighted in bold italics indicate that the definition is provided in Reporting Standard SRS 101.0 Definitions for Superannuation Data Collections (SRS 101.0).\n\nSpecific instructions","sortOrder":19},{"sectionNumber":"Attribution of data to superannuation pr","sectionType":"division","heading":"Attribution of data to superannuation product, investment menu or investment option","content":"### Attribution of data to superannuation product, investment menu or investment option\n\nSRF 705.1 must be completed in respect of each investment option offered by the RSE excluding the following:\n\n    investment options which have been aggregated as permitted in Item 3 of Reporting Form SRF 605.0 RSE Structure (SRF 605.0);\n    investment options which solely underlie defined benefits; and\n    investment options which are reported on SRF 605.0 with the Investment Option Category Type of 'Annuity’.\n\nWhere the data is applicable to all members in the investment option, the RSE licensee must report data for that investment option and report ‘ALL’ for the remaining RSE structure levels.\n\nWhere the data varies depending on the superannuation product and/or investment menu, the RSE licensee must report data for each relevant combination of superannuation product, investment menu and investment option.\n\nTherefore, the RSE does not need to report every combination of superannuation product, investment menu and investment option that they have, only those combinations that lead to distinct return objectives, returns or volatilities being reported.","sortOrder":20},{"sectionNumber":"Table 1: Investment objectives","sectionType":"division","heading":"Table 1: Investment objectives","content":"### Table 1: Investment objectives\n\nReport the investment objectives detailed in the table below for each investment option as at the end of the reporting period. Where the investment objectives differ by superannuation product or investment menu, this should be indicated by use of the appropriate identifier in these fields, otherwise make use of “ALL” as described above.\n\n| Column | Field name                        | Unique identifier | Applicable to | Valid values                                                                              | Description                                                                                                                                                       |\n| ------ | --------------------------------- | ----------------- | ------------- | ----------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| 1      | Superannuation Product Identifier | Y                 | All filers    | No more than 20 alpha-numeric characters (with no special characters)                     | Report the superannuation product identifier. The superannuation product identifier must correspond to a superannuation product identifier reported in SRF 605.0. |\n| 2      | Investment Menu Identifier        | Y                 | All filers    | No more than 20 alpha-numeric characters (with no special characters)                     | Report the investment menu identifier. The investment menu identifier must correspond to an investment menu identifier reported in SRF 605.0.                     |\n| 3      | Investment Option Identifier      | Y                 | All filers    | No more than 20 alpha-numeric characters (with no special characters)                     | Report the investment option identifier. The investment option identifier must correspond to an investment option identifier reported in SRF 605.0.               |\n| 4      | Return Objective Start Date       |                   | All filers    | Date values                                                                               | Report the start date of the return objective.                                                                                                                    |\n| 5      | Return Measurement Type           |                   | All filers    | Gross Investment ReturnGross Investment Return Net Of FeesNet Investment ReturnNet Return | Report the return measurement.                                                                                                                                    |\n| 6      | Return Objective Benchmark Text   |                   | All filers    | Free text                                                                                 | Report the benchmark.                                                                                                                                             |\n| 7      | Return Margin Percent             |                   | All filers    | Percentage to 4 decimal places                                                            | Report the return margin as a percentage per annum.                                                                                                               |\n| 8      | Investment Horizon Years Number   |                   | All filers    | Number to 2 decimal places.                                                               | Report the investment horizon in years.                                                                                                                           |","sortOrder":21},{"sectionNumber":"Table 2: Comparison of return to benchma","sectionType":"division","heading":"Table 2: Comparison of return to benchmark","content":"### Table 2: Comparison of return to benchmark\n\nReport the information in this table for each investment option that was available to members for some or all of the reporting period. Where the investment option commenced or ceased during the reporting period, report for the period for which it was available. Where values differ by superannuation product or investment menu, this should be indicated by use of the appropriate identifier in these fields, otherwise make use of “ALL” as described above.\n\nReport columns 1 to 10 with respect to transactions that occurred during the reporting period. Report columns 11 and 12 as at the end of the reporting period.\n\nReturns reported should be the effective rate earned for the reporting period and should not be converted to an annual or other rate.\n\n| Column | Field name                                                | Unique identifier | Applicable to | Valid values                                                                              | Description                                                                                                                                                                                                                                                                                                                                                                                                   |\n| ------ | --------------------------------------------------------- | ----------------- | ------------- | ----------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| 1      | Fees And Costs Arrangement Identifier                     | Y                 | All filers    | No more than 20 alpha-numeric characters (with no special characters)                     | Report the fees and costs arrangement identifier that the performance relates to. The fees and costs arrangement identifier must correspond to a fees and costs arrangement identifier reported in SRF 605.0.                                                                                                                                                                                                 |\n| 2      | Superannuation Product Identifier                         | Y                 | All filers    | No more than 20 alpha-numeric characters (with no special characters)                     | Report the superannuation product identifier. The superannuation product identifier must correspond to a superannuation product identifier reported in SRF 605.0.                                                                                                                                                                                                                                             |\n| 3      | Investment Menu Identifier                                | Y                 | All filers    | No more than 20 alpha-numeric characters (with no special characters)                     | Report the investment menu identifier. The investment menu identifier must correspond to an investment menu identifier reported in SRF 605.0.                                                                                                                                                                                                                                                                 |\n| 4      | Investment Option Identifier                              | Y                 | All filers    | No more than 20 alpha-numeric characters (with no special characters)                     | Report the investment option identifier. The investment option identifier must correspond to an investment option identifier reported in SRF 605.0.                                                                                                                                                                                                                                                           |\n| 5      | Return Measurement Comparison Type                        |                   | All filers    | Gross Investment Return Net Of FeesNet Investment Return                                  | Report the comparison return type.This is required in order to allow comparison of returns between investment options.In most cases, this will be the Net Investment Return of the investment option.Where the tax for the investment option is determined on a member by member basis rather than as an aggregate for the investment option, the Gross Investment Return Net Of Fees should be used instead. |\n| 6      | Return Measurement Comparison Percent                     |                   | All filers    | Percentage to 4 decimal places                                                            | Report the comparison return (%) as a percentage.                                                                                                                                                                                                                                                                                                                                                             |\n| 7      | Return Measurement Option Type                            |                   | All filers    | Gross Investment ReturnGross Investment Return Net Of FeesNet Investment ReturnNet Return | Report the option return type. This is the type of return used for measuring the option return, for the purpose of comparison with the return objective target return.                                                                                                                                                                                                                                        |\n| 8      | Return Measurement Option Percent                         |                   | All filers    | Percentage to 4 decimal places                                                            | Report the option return (%) as a percentage.                                                                                                                                                                                                                                                                                                                                                                 |\n| 9      | Return Objective Target Return Description Text           |                   | All filers    | Free text                                                                                 | Report the return objective target return description.This is a description of how the return objective target return was calculated for the reporting period.                                                                                                                                                                                                                                                |\n| 10     | Return Objective Target Return Percent                    |                   | All filers    | Percentage to 4 decimal places                                                            | Report the return objective target return as a percentage.                                                                                                                                                                                                                                                                                                                                                    |\n| 11     | Return Investment Five Year Volatility Comparison Percent |                   | All filers    | Percentage to 2 decimal places                                                            | Report the volatility of comparison return (5 years) as at the end of the reporting period.If the volatility of comparison return (5 years) cannot be determined, this field should be left blank.                                                                                                                                                                                                            |\n| 12     | Return Investment Ten Year Volatility Comparison Percent  |                   | All filers    | Percentage to 2 decimal places                                                            | Report the volatility of comparison return (10 years) as at the end of the reporting period.If the volatility of comparison return (10 years) cannot be determined, this field should be left blank.                                                                                                                                                                                                          |","sortOrder":22}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-realtime","completionTokens":2111},"content_quality":"ok","complexity_score":6,"scope_assessment":{"changed":false,"description":"The legislation maintains a focused scope on collecting investment performance and objective data from superannuation entities for prudential supervision. The detailed reporting requirements and historical data collection align with the stated purpose of monitoring whether funds meet their investment promises."},"complexity_factors":["14 defined terms cross-referencing the Superannuation Industry (Supervision) Act 1993 and other prudential standards","Three distinct reporting phases with staggered deadlines: historical data (2011-2021), transitional period (2021-2022), and ongoing quarterly reporting","Conditional logic differentiating deadlines by investment option type (MySuper/trustee-directed vs other options)","Mandatory external audit requirements requiring 'limited assurance engagement' consistent with Auditing and Assurance Standards Board guidance","Granular data validation rules specifying precision (e.g., percentages to 4 decimal places) and referential integrity linking to Reporting Form SRF 605.0","Multi-level data attribution rules requiring distinct reporting for combinations of superannuation products, investment menus, and investment options"],"plain_english_summary":"Trustees of super funds (RSE licensees) must report detailed, audited quarterly data to APRA comparing investment options’ stated return objectives and benchmarks with actual returns and risk metrics. Reports require independent limited-assurance audit, authorised-officer digital sign-off, and electronic APRA submission within 28 days of each quarter. The regime lets regulators monitor whether funds meet their promises, compare performance industry-wide, and spot risks to Australians’ retirement savings."},"flash_summary":{"complexity_score":7,"scope_assessment":{"changed":false,"description":"No indication within this instrument that the statutory scope has been expanded or narrowed relative to its stated application. The Standard applies to RSE licensees in respect of each RSE, defined benefit RSE and ERF (paragraph 3) and specifies which investment options are excluded or aggregated via the instruction guide and definitions (instruction guide; paragraph 27). Historical, initial and ongoing reporting obligations are set out in paragraphs 6–15."},"complexity_factors":["Staggered reporting timelines and multiple filing windows (historical, initial, ongoing) with different due dates by product type (paragraphs 6–15).","Quarterly baseline reporting plus APRA power to change frequency for particular RSEs and to grant extensions (paragraphs 5, 16–18) — adds operational variability and discretionary requirements.","Granular per‑investment‑option data model with primary‑key constraints and many specific fields (instruction guide and Tables 1–2) and rules on when to report combinations of product/menu/option.","Cross‑references to other instruments for definitions and identifiers (SRS 101.0, SRF 605.0, SIS Act) increasing dependency on outside documents for correct compliance (paragraphs 27–28; instruction guide).","Mandatory electronic submission method and format specified by APRA (paragraph 19) — centralises method but requires IT alignment with APRA systems.","Quality control and assurance obligations requiring the RSE auditor to review systems and perform at least a limited assurance engagement consistent with professional standards and SPS 310 (paragraph 20) — creates audit costs and ongoing assurance work.","Internal governance and authorisation obligations: Board/senior management responsibility for policies and procedures; digital certificate signing; CEO or CFO authorisation of submitters; agent record‑retention rules (paragraphs 21–24).","APRA may make minor form or instruction variations without changing substance, with notification obligations (paragraphs 25–26) — introduces small change management tasks for filers."],"plain_english_summary":"This Reporting Standard requires APRA-regulated superannuation trustees (RSE licensees) to submit quarterly electronic data about investment objectives, returns and volatility for each investment option (including MySuper and trustee‑directed options). APRA uses the data for prudential supervision and publication; ASIC may also use it.\n\nThe instrument sets historical, initial and ongoing filing deadlines, requires auditor review and limited‑assurance, mandates internal authorisation and digital signing, and gives APRA discretion to vary reporting frequency or grant extensions — shifting compliance costs and reporting duties to trustees."}},"importantCases":[],"_links":{"self":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-21-of-2021","history":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-21-of-2021/history","analysis":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-21-of-2021/analysis","conflicts":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-21-of-2021/conflicts","importantCases":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-21-of-2021/important-cases","documents":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-21-of-2021/documents"}}