{"id":"F2013L01739","name":"Financial Sector (Collection of Data) (reporting standard) determination No. 92 of 2013 - SRS 702.0 - Investment Performance","slug":"financial-sector-collection-of-data-reporting-standard-determination-no-92-of-2013-srs-702-0-investm","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":127793,"registerId":"commonwealth-F2013L01739-current","compilationNumber":null,"startDate":"2026-04-03","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Financial Sector (Collection of Data) (reporting standard) determination No. 92 of 2013 - SRS 702.0 - Investment Performance","content":"![](image.001.png)\n\nFinancial Sector (Collection of Data) (reporting standard) determination No. 92 of 2013\n\nReporting Standard SRS 702.0 Investment Performance\n\nFinancial Sector (Collection of Data) Act 2001\n\nI, Helen Rowell, delegate of APRA, under paragraph 13(1)(a) of the Financial Sector (Collection of Data) Act 2001 (the Act) DETERMINE Reporting Standard SRS 702.0 Investment Performance, in the form set out in the Schedule, which applies to the financial sector entities specified in paragraph 3 of the reporting standard.\n\nUnder section 15 of the Act, I DECLARE that the reporting standard begins to apply to those financial sector entities on 30 September 2013.\n\nThis instrument commences on 30 September 2013.\n\nDated: 20 September 2013\n\n\\[Signed\\]\n\nHelen Rowell\n\nMember\n\nInterpretation\n\nIn this Determination:\n\nAPRA means the Australian Prudential Regulation Authority.\n\nfinancial sector entity has the meaning given in section 5 of the Act.\n\nSchedule\n\nReporting Standard SRS 702.0 Investment Performance comprises the 18 pages commencing on the following page.\n\n![](image.001.png)\n\nReporting Standard SRS 702.0\n\nInvestment Performance\n\nObjective of this Reporting Standard\n\nThis Reporting Standard sets out the requirements for the provision of information to APRA relating to the investment performance of a non-lifecycle MySuper product or a lifecycle stage of a lifecycle MySuper product.\n\nIt includes Form SRF 702.0 Investment Performance and associated specific instructions and must be read in conjunction with section 348A of the Superannuation Industry (Supervision) Act 1993 and Prudential Standard SPS 530 Investment Governance.\n\nAuthority\n\n1. This Reporting Standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001.\n\nPurpose\n\n2. Information collected in Form SRF 702.0 Investment Performance (SRF 702.0) is used by APRA for the purposes of prudential supervision, including assessing compliance with Prudential Standard SPS 530 Investment Governance, and publication for the purposes of section 348A of the Superannuation Industry (Supervision) Act 1993. It may also be used by the Australian Securities and Investments Commission.\n\nApplication and commencement\n\n3. This Reporting Standard applies to each registrable superannuation entity (RSE) licensee (RSE licensee) with respect to each MySuper investment option within its business operations.[\\[1\\]](#_ftn1)\n\n4. This Reporting Standard applies for quarterly reporting periods (under paragraph 7(a)) ending on or after 30 September 2013 and for annual reporting periods (under paragraph 7(b)) ending on or after 30 June 2014.\n\nInformation required\n\n5. An RSE licensee to which this Reporting Standard applies must provide APRA with the information required by SRF 702.0 in respect of each reporting period.\n\nForms and method of submission\n\n6. The information required by this Reporting Standard must be given to APRA in electronic format using the ‘Direct to APRA’ application or, where ‘Direct to APRA’ is not available, by a method notified by APRA, in writing, prior to submission.\n\nNote: the ‘Direct to APRA’ application software (also known as ‘D2A’) may be obtained from APRA.\n\nReporting periods and due dates\n\n7. Subject to paragraph 8, an RSE licensee to which this Reporting Standard applies must provide the information required by this Reporting Standard in respect of:\n\n(a) each calendar quarter (i.e. the periods ending 30 September, 31 December, 31 March and 30 June each year); and\n\n(b) each year ending 30 June.\n\n8. If, having regard to the particular circumstances of a MySuper investment option, APRA considers it necessary or desirable to obtain information more or less frequently than as provided by paragraph 7(a) or 7(b), APRA may, by notice in writing, change the reporting periods for the particular MySuper investment option.\n\n9. The information required by this Reporting Standard must be provided to APRA:\n\n(a) in the case of information in relation to the quarter ending 30 September 2013 – within 42 calendar days after that date[\\[2\\]](#_ftn2);\n\n(b) in the case of information in relation to subsequent quarters – within 28 calendar days after the end of the quarter to which the information relates;\n\n(c) in the case of annual information:\n\n(i) for reporting periods ending on 30 June 2014 and 30 June 2015 – within four months after the year ending 30 June to which the information relates; and\n\n(ii) for reporting periods ending on or after 30 June 2016 – within three months after the end of the year ending 30 June to which the information relates; and\n\n(d) in the case of information provided in accordance with paragraph 8, within the time specified by notice in writing.\n\n10. APRA may grant, in writing, an RSE licensee an extension of a due date with respect to one or more MySuper investment options within its business operations, in which case the new due date for the provision of the information will be the date on the notice of extension.\n\nQuality control\n\n11. 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 within which the MySuper investment option, to which the information relates, is located.[\\[3\\]](#_ftn3) 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 SPS 310.\n\n12. 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 and procedures for the authorisation of information submitted to APRA is in place.\n\nAuthorisation\n\n13. When an officer or agent of an RSE licensee provides the information required by this Reporting Standard using the ‘Direct to APRA’ software, it will be necessary for the officer or agent to digitally sign the relevant information using a digital certificate acceptable to APRA.\n\n14. If the information required by this Reporting Standard is provided by an agent who submits using the ‘Direct to APRA’ software 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\n15. An officer or agent of an RSE licensee who submits the information under this Reporting Standard for, 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\nVariations\n\n16. APRA may, by written notice to an RSE licensee, vary the reporting requirements of SRF 702.0 in relation to that RSE licensee or one or more MySuper investment options within that RSE licensee’s business operations.\n\nInterpretation\n\n17. 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[\\[4\\]](#_ftn4);\n\nChief Financial Officer means the chief financial officer of the RSE licensee, by whatever name called;\n\ndue date means the relevant date under paragraph 9 or, if applicable, paragraph 10;\n\nlifecycle exception has the meaning given in section 29TC(2) of the SIS Act;\n\nlifecycle MySuper product means a MySuper product to which a lifecycle exception applies;\n\nlifecycle stage of a lifecycle MySuper product means a subclass of members of the RSE within which the lifecycle MySuper product is located who hold that product, determined on the basis of age or age and the factors mentioned in regulation 9.47 of the SIS Regulations;\n\nMySuper investment option means[\\[5\\]](#_ftn5):\n\n(a) for a non-lifecycle MySuper product – the investment option underlying the investment strategy for that product; and\n\n(b) for a lifecycle MySuper product – the investment option underlying each lifecycle stage of that product;\n\nMySuper product has the meaning given in section 10(1) of the SIS Act;\n\nnon-lifecycle MySuper product means a MySuper product to which a lifecycle exception does not apply;\n\nreporting period means a period mentioned in paragraph 7(a) or 7(b) or, if applicable, paragraph 8;\n\nRSE means a registrable superannuation entity as defined in section 10(1) of the SIS Act that is not a small APRA fund or single member approved deposit fund[\\[6\\]](#_ftn6);\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 section 10(1) of the SIS Act; and\n\nSIS Act means Superannuation Industry (Supervision) Act 1993.\n\n| SRF 702.0: Investment Performance |\n| --------------------------------- |\n\n| Australian Business Number | Institution Name | |\n| -------------------------- | ---------------- | ----------------------- |\n| | | |\n| Reporting Period | Scale Factor | Reporting Consolidation |\n| | | |\n\n| Investment fees, costs and taxes |\n| -------------------------------- |\n\n| | Dollar value | Percentage value |\n| ------------------------------------------------------------------------------------------- | ------------ | ---------------- |\n| | (1) | (2) |\n| 1.1. Investment fees | | |\n| 1.2. Indirect cost ratio investment costs | | |\n| 1.3. Other investment costs | | |\n| 1.4. Total investment fees, indirect cost ratio investment costs and other investment costs | | |\n| 1.4.1. of which: Direct investment manager: base fees | | |\n| 1.4.2. of which: Direct investment manager: performance based fees | | |\n| 1.4.3. of which: Underlying investment manager: base fees | | |\n| 1.4.4. of which: Underlying investment manager: performance based fees | | |\n| 1.5. Representative member investment fees and costs | | |\n| 1.6. Taxes on investment income after investment fees and costs | | |\n| 1.7. Representative member taxes on investment income after investment fees and costs | | |\n\n| 2. Administration fees, costs and taxes |\n| --------------------------------------- |\n\n \nross of rebates report h respect to events that took place during the reportig perio\n\n| | Dollar value | Percentage value |\n| --------------------------------------------------------------------- | ------------ | ---------------- |\n| | (1) | (2) |\n| 2.1. Administration fees | | |\n| 2.2. Indirect cost ratio administration costs | | |\n| 2.3. Other administration costs | | |\n| 2.4. Representative member administration fees and costs | | |\n| 2.5. Administration-related tax expense/benefit | | |\n| 2.6. Representative member administration-related tax expense/benefit | | |\n\n| 3. Advice fees, costs and taxes |\n| ------------------------------- |\n\n| | Dollar value | Percentage value |\n| ------------------------------------------------------------- | ------------ | ---------------- |\n| | (1) | (2) |\n| 3.1. Advice fees | | |\n| 3.2. Indirect cost ratio advice costs | | |\n| 3.3. Other advice costs | | |\n| 3.4. Representative member advice fees and costs | | |\n| 3.5. Advice-related tax expense/benefit | | |\n| 3.6. Representative member advice-related tax expense/benefit | | |\n\n| | Percentage value | Representative member |\n| ---------------------------------------------- | ---------------- | --------------------- |\n| | (1) | (2) |\n| 4. Net investment return – for the quarter | | |\n| 5. Net investment return - year to date | | |\n| 6. Net return - dollar value | | |\n| 7. Net return - percentage value | | |\n| 8. Representative member fees and costs | | |\n| 9. Representative member fees, costs and taxes | | |\n\n| 10. Start date of reporting period for new investment options only | |\n| ------------------------------------------------------------------ | --- |\n\nReporting Form SRF 702.0\n\nInvestment Performance\n\nInstructions\n\nThese instructions assist completion of Reporting Form SRF 702.0 Investment Performance (SRF 702.0). SRF 702.0 collects information related to investment performance. Information reported in SRF 702.0 is required primarily for prudential and publication purposes and for the purposes of section 348A of the Superannuation Industry (Supervision) Act 1993. Information reported in SRF 702.0 is also required for the purposes of the Australian Securities and Investments Commission.\n\nReporting level\n\nSRF 702.0 must be completed for each MySuper investment option.\n\nReporting basis and unit of measurement\n\nReport all items on SRF 702.0 in accordance with the Australian Accounting Standards unless otherwise specified.\n\nWhere an RSE licensee is reporting an accrued amount, valuation of the accrual must be in accordance with the Australian Accounting Standards. APRA requires that an RSE licensee report items based on ‘hard close’ valuations, not ‘soft close’ valuations.\n\nItems on SRF 702.0 must be reported as at the end of the reporting period or with respect to transactions that occurred during the reporting period. Report information with respect to transactions that occurred during the reporting period on a year to date basis, rather than for the individual quarter alone, except where otherwise specified.\n\nItems on SRF 702.0 are to be reported as dollars and cents on a per member basis or percentages. Report percentages as whole numbers to two decimal places. For example, 10 per cent is to be reported as 10.00.\n\nReport percentage net investment returns as percentages of the assets adjusted for cash flows as they occur (i.e. time-weighted), unless otherwise specified. Cash flows include, but are not limited to, contributions, switches, transfers, rollovers or benefit payments.\n\nItems on SRF 702.0 are to be reported on a non\\-look\\-through basis or a look\\-through basis. ‘Look\\-through basis’ refers to fees and costs being reported that relate to service providers that are not directly engaged by the RSE licensee, but are engaged by other service providers.\n\nThese instructions specify the reporting basis, unit of measurement and look\\-through basis that applies to each item.\n\nSpecific instructions\n\nTerms highlighted in bold italics indicate that the definition is provided in these instructions.\n\nFor the purposes of these instructions, a ‘fee’ is an amount directly charged to members (regardless of who pays the fee) and a ‘cost’ is an amount incurred by the RSE licensee. The definitions of ‘fee’ and ‘cost’ are mutually exclusive.\n\nComparison to Product Disclosure Statement requirements\n\nSchedule 10 of the Corporations Regulations provides the requirements for disclosing fees and costs on a Product Disclosure Statement.\n\nSRF 702.0 collects information about the actual experience of the RSE with respect to those fees and costs that were disclosed in a Product Disclosure statement and reported on SRF 703.0 Fees Disclosed.\n\nFor the purposes of these instructions, fees and costs must be reported ‘gross of tax obligations’. This means the fees and costs must be reported prior to taking into account any benefit of a tax deduction relating to a fee that is passed on to a member either as a reduction in tax on contributions or through the deduction of a fee that is lower than what is reported to take account of the tax deduction.\n\nAPRA requires an RSE licensee to split the indirect cost ratio (ICR) reported on the Product Disclosure Statement into three sub-categories: indirect cost ratio investment costs reported in item 1.2, indirect cost ratio administration costs reported in item 2.2 and indirect cost ratio advice costs reported in item 3.2. The sum of these three sub-categories may not equal to the value of the indirect cost ratio but must be less than or equal to the value of the indirect cost ratio. Example: the ICR reported on the PDS is 2.00 per cent. Of this 2.00 per cent, 1.5 per cent relates to investment costs, 0.3 relates to administration costs and 0.1 relates to advice costs. Note that 1.5 + 0.3 + 0.1 = 1.9 is less than the value of the ICR, indicating that costs other than these three sub-categories are included in the ICR.\n\nInvestment fees, costs and taxes\n\nItem 1 collects investment fees, costs and taxes.\n\nReporting basis: report item 1 in relation to changes in net assets during the reporting period.\n\nUnit of measurement: report item 1 column 1 as dollars and cents on a per member basis; report item 1 column 2 as a percentage of member balance.\n\nLook-through basis: report item 1.1 to item 1.7 inclusive on a look\\-through basis.\n\n| Item 1 | For item 1.1 to item 1.4.4 inclusive and item 1.6, if some, or all, of the fee, cost or tax is charged as a dollar amount per member, report the dollar amount per member in column 1; otherwise, leave column 1 blank.For item 1.1 to item 1.4.4 inclusive and item 1.6, if some, or all, of the fee, cost or tax is charged as a percentage of member balance, report the percentage in column 2; otherwise, leave column 2 blank.Amounts reported as investment fees, indirect cost ratio investment costs and other investment costs must be mutually exclusive.Report investment fees in item 1.1.Report indirect cost ratio investment costs in item 1.2.Report other investment costs in item 1.3. Note that APRA expects that it will be unusual to report a non-zero value in item 1.3.Item 1.4 column 1 is a derived item. Report total investment fees, indirect cost ratio investment costs and other investment costs charged as a dollar amount per member in item 1.4 column 1 as the sum of investment fees charged as a dollar amount per member reported in item 1.1 column 1, indirect cost ratio investment costs charged as a dollar amount per member reported in item 1.2 column 1 and other investment costs charged as a dollar amount per member reported in item 1.3 column 1. If no investment fees, indirect cost ratio investment costs or other investment costs were charged as a dollar amount per member, leave item 1.4 column 1 blank.Item 1.4 column 2 is a derived item. Report total investment fees, indirect cost ratio investment costs and other investment costs charged as a percentage of member balance in item 1.4 column 2 as the sum of investment fees charged as a percentage of member balance reported in item 1.1 column 2, indirect cost ratio investment costs charged as a percentage of member balance reported in item 1.2 column 2 and other investment costs charged as a percentage of member balance reported in item 1.3 column 2. If no investment fees, indirect cost ratio investment costs or other investment costs were charged as a percentage of member balance, leave item 1.4 column 2 blank.Report the portion of total investment fees, indirect cost ratio investment costs and other investment costs that are: direct investment manager: investment management base fees in item 1.4.1, direct investment manager: investment management performance based fees in item 1.4.2, underlying investment manager: investment management base fees in item 1.4.3, underlying investment manager: investment management performance based fees in item 1.4.4. Note that the sum of item 1.4.1 to item 1.4.4 inclusive may not be equal to item 1.4, but may be less than item 1.4.Item 1.5 is a derived item. Report the value of the total investment fees, indirect cost ratio investment costs and other investment costs reported in item 1.4 that would be charged for a representative member in item 1.5.Calculate the value reported in item 1.5 column 1 as the sum of: item 1.4 column 1 and (item 1.4 column 2 divided by 100, multiplied by 50000); andCalculate the value reported in item 1.5 column 2 as the sum of: (item 1.4 column 1 divided by 50000, multiplied by 100) and item 1.4 column 2.Report taxes on investment income after investment fees and costs in item 1.6 as an accrual movement of realised and unrealised taxes.Item 1.7 is a derived item. Report the value of the taxes on investment income after investment fees and costs reported in item 1.6 that would be charged for a representative member in item 1.7.Calculate the value reported in item 1.7 column 1 as the sum of: item 1.6 column 1 and (item 1.6 column 2 divided by 100, multiplied by 50000); andCalculate the value reported in item 1.7 column 2 as the sum of: (item 1.6 column 1 divided by 50000, multiplied by 100) and item 1.6 column 2. |\n| -------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Investment fee | Represents a fee within the meaning given in s. 29V(3) of the SIS Act, gross of tax obligations, that relates to the investment of the assets of the entity. |\n| Direct investment manager | Represents the primary or first level of management of investment portfolios. |\n| Investment management base fees | Represents the portion of investment fees which relate to investment management and are not determined by reference to the performance of the investments made by the investment manager on behalf of the RSE licensee of an RSE. Includes: accrued investment management base fees. Excludes: investment management performance based fees. |\n| Investment management performance based fees | Represents the portion of investment fees which relate to investment management and are determined, in whole or in part, by reference to the performance of an investment made by an investment manager on behalf of the RSE licensee of an RSE. Includes: accrued performance fees, past loss clawbacks in performance fees. Excludes: investment management base fees. |\n| Underlying investment manager | Represents all subsequent levels of management of investment portfolios, beyond or further than the primary or first level of management. |\n| Indirect cost ratio | Represents the ratio of the total of the indirect costs for a MySuper product or an investment option, to the total average net assets of the superannuation entity attributed to the MySuper product or investment option. Reference: cl. 104(1) of Schedule 10 to the Corporations Regulations. |\n| Indirect cost ratio investment costs | Represents the portion of the indirect cost ratio that relates to investment costs. These costs must be shown gross of tax obligations. |\n\n \n\n| Other investment costs | Represents costs that relate to the investment of the assets of the fund, which were not explicitly disclosed in the Product Disclosure Statement. These costs must be shown gross of tax obligations. |\n| ---------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Taxes on investment income after investment fees and costs | Represents income tax expense/benefit that is associated with net investment income or due to investment related activities, net of investment fees and costs. Includes: accruals for taxes associated with investment income or investment related activities, capital gains tax and investment related income tax. |\n| Representative member | Represents a member who is fully invested in the given investment option, who does not incur any activity fees during a year and who has an account balance of $50,000 throughout that year. Excludes: investment gains/losses on the $50,000 balance. |\n\nAdministration fees, costs and taxes\n\nItem 2 collects administration fees, costs and taxes.\n\nReporting basis: report item 2 in relation to changes in net assets during the reporting period.\n\nUnit of measurement: report item 2 column 1 as dollars and cents on a per member basis; report item 2 column 2 as a percentage of member balance.\n\nLook\\-through basis: report item 2.1 on a non look-through basis; report item 2.2 to item 2.6 inclusive on a look-through basis.\n\n| Item 2 | For item 2.1 to item 2.3 inclusive and item 2.5, if some, or all, of the fee, cost or tax is charged as a dollar amount per member, report the dollar amount per member in column 1; otherwise, leave column 1 blank.For item 2.1 to item 2.3 inclusive and item 2.5, if some, or all, of the fee, cost or tax is charged as a percentage of member balance, report the percentage in column 2; otherwise, leave column 2 blank.Amounts reported as administration fees, indirect cost ratio administration costs and other administration costs must be mutually exclusive.Report administration fees in item 2.1.Report indirect cost ratio administration costs in item 2.2.Report other administration costs in item 2.3. Note that APRA expects that it will be unusual to report a non-zero value in item 2.3.Item 2.4 is a derived item. Report the sum of the administration fees reported in item 2.1, indirect cost ratio administration costs reported in item 2.2 and other administration costs reported in item 2.3 that would be charged for a representative member in item 2.4.Calculate the value reported in item 2.4 column 1 as the sum of: item 2.1 column 1, item 2.2 column 1, item 2.3 column 1 and (item 2.1 column 2 divided by 100, multiplied by 50000; item 2.2 column 2 divided by 100, multiplied by 50000; and item 2.3 column 2 divided by 100, multiplied by 50000); andCalculate the value reported in item 2.4 column 2 as the sum of: (item 2.1 column 1 divided by 50000, multiplied by 100; item 2.2 column 1 divided by 50000, multiplied by 100; and item 2.3 column 1 divided by 50000, multiplied by 100) and item 2.1 column 2, item 2.2 column 2 and item 2.3 column 2.Report administration-related tax expense/benefit in item 2.5. Report a benefit as a negative number.Item 2.6 is a derived item. Report the value of the administration-related tax expense/benefit reported in item 2.5 that would be charged for a representative member in item 2.6.Calculate the value reported in item 2.6 column 1 as the sum of: item 2.5 column 1 and (item 2.5 column 2 divided by 100, multiplied by 50000); andCalculate the value reported in item 2.6 column 2 as the sum of: (item 2.5 column 1 divided by 50000, multiplied by 100) and item 2.5 column 2. |\n| ------------------------------------------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Administration fees | Represents a fee within the meaning given in s. 29V(2) of the SIS Act, gross of tax obligations, that relates to the administration or operation of the fund. |\n| Indirect cost ratio administration costs | Represents the portion of the indirect cost ratio relating to administration costs. These costs must be shown gross of tax obligations. |\n| Other administration costs | Represents costs associated with administration charged to a member by way of a reduction in returns, deduction from contributions or deduction from account balance, but which were not explicitly disclosed in the Product Disclosure Statement. These costs must be shown gross of tax obligations. |\n| Administration related tax expense/benefit | Represents the tax expense or benefit derived from administration fees or costs charged to a member. |\n\nAdvice fees, costs and taxes\n\nItem 3 collects advice fees, costs and taxes.\n\nReporting basis: report item 3 in relation to changes in net assets during the reporting period.\n\nUnit of measurement: report item 3 column 1 as dollars and cents on a per member basis; report item 3 column 2 as a percentage of member balance.\n\nLook-through basis: report item 3.1 on a non look-through basis; report item 3.2 to item 3.6 inclusive on a look-through basis.\n\n| Item 3 | For item 3.1 to item 3.3 inclusive and item 3.5, if some, or all, of the fee, cost or tax is charged as a dollar amount per member, report the dollar amount per member in column 1; otherwise, leave column 1 blank.For item 3.1 to item 3.3 inclusive and item 3.5, if some, or all, of the fee, cost or tax is charged as a percentage of member balance, report the percentage in column 2; otherwise, leave column 2 blank.Amounts reported as advice fees, indirect cost ratio advice costs and other advice costs must be mutually exclusive.Only report collectively charged advice fees, indirect cost ratio advice costs and other advice costs in item 3. Where members are charged individually on a ‘per activity’ basis for advice-related matters, these are not collectively charged amounts and must not be included in item 3.Report advice fees in item 3.1.Report indirect cost ratio advice costs in item 3.2.Report other advice costs in item 3.3. Note that APRA expects that it will be unusual to report a non-zero value in item 3.3.Item 3.4 is a derived item. Report the sum of advice fees reported in item 3.1, indirect cost ratio advice costs reported in item 3.2 and other advice costs reported in item 3.3 that would be charged for a representative member in item 3.4.Calculate the value reported in item 3.4 column 1 as the sum of: item 3.1 column 1, item 3.2 column 1, item 3.3 column 1 and (item 3.1 column 2 divided by 100, multiplied by 50000; item 3.2 column 2 divided by 100, multiplied by 50000; and item 3.3 column 2 divided by 100, multiplied by 50000); andCalculate the value reported in item 3.4 column 2 as the sum of: (item 3.1 column 1 divided by 50000, multiplied by 100; item 3.2 column 1 divided by 50000, multiplied by 100; and item 3.3 column 1 divided by 50000, multiplied by 100) and item 3.1 column 2, item 3.2 column 2 and item 3.3 column 2.Report advice related tax expense/benefit in item 3.5. Report a benefit as a negative number.Item 3.6 is a derived item. Report the value of the advice related tax expense/benefit reported in item 3.5 that would be charged for a representative member in item 3.6.Calculate the value reported in item 3.6 column 1 as the sum of: item 3.5 column 1 and (item 3.5 column 2 divided by 100, multiplied by 50000); andCalculate the value reported in item 3.6 column 2 as the sum of: (item 3.5 column 1 divided by 50000, multiplied by 100) and item 3.5 column 2. |\n| ---------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Advice fees | Represents a fee within the meaning given in s. 29V(8) of the SIS Act, gross of tax obligations, that relates to the provision of financial product advice to a member by the RSE licensee and which is not incorporated into another fee. |\n| Indirect cost ratio advice costs | Represents the portion of the indirect cost ratio relating to advice costs. These costs must be shown gross of tax obligations. |\n| Other advice costs | Represents costs associated with advice charged to a member by way of a deduction from returns, deduction from contributions or deduction from account balance, which were not explicitly disclosed in the Product Disclosure Statement. These costs must be shown gross of tax obligations. |\n| Advice related tax expense/benefit | Represents the tax expense or benefit derived from advice expenses or due to advice related activities. |\n\nNet investment return\n\nItem 4 and item 5 collect the net investment return.\n\nReporting basis: report item 4 as at the end of the reporting period in respect of the three months ending on the last day of the reporting period. Report item 5 as at the end of the reporting period in respect of the reporting period, i.e. on a year-to-date basis.\n\nUnit of measurement: report item 4 column 1 and item 5 column 1 as a percentage of cash flow adjusted assets; report item 4 column 2 and item 5 column 2 as dollars and cents on a per member basis.\n\nLook-through basis: report item 4 and item 5 on a look-through basis, incorporating all investment fees, costs and taxes directly and indirectly charged.\n\n| Item 4 | Report the net investment return for the quarter in item 4 column 1 as the return on investments after deducting investment fees, indirect cost ratio investment costs, other investment costs and taxes on investment income after investment fees and costs.Item 4 column 2 is a derived item. Report the net investment return for a representative member as a dollar amount in item 4 column 2 by multiplying item 4 column 1 by 50,000 and dividing by 100. |\n| --------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item 5 | Report the net investment return for the year to date in item 5 column 1 as the return on investments after deducting investment fees, indirect cost ratio investment costs, other investment costs and taxes on investment income after investment fees and costs.Item 5 column 2 is a derived item. Report the net investment return for a representative member as a dollar amount in item 5 column 2 by multiplying item 5 column 1 by 50,000 and dividing by 100. |\n| Net investment return | Represents the time-weighted rate of return on investments, net of investment-related fees, costs and taxes, adjusted for cash flows as they occur. |\n\nNet return\n\nItem 6 and item 7 collect the net return.\n\nReporting basis: report item 6 and item 7 as at the end of the reporting period, in respect of the reporting period, i.e. on a year-to-date basis.\n\nUnit of measurement: report item 6 as a dollar amount on a per member basis; report item 7 as a percentage of representative member balance.\n\n| Item 6 and item 7 | Item 6 and item 7 are derived items.Report net return in item 6 as the dollar amount of net investment return for a representative member reported in item 5 column 2 minus the dollar amount of administration fees and costs of a representative member reported in item 2.4 column 1, minus the dollar amount of administration-related tax expense/benefit for a representative member reported in item 2.6 column 1, minus the dollar amount of advice fees and costs for a representative member reported in item 3.4 column 1 and minus the dollar amount of advice-related tax expense/benefit for a representative member reported in item 3.6 column 1.Report net return in item 7 as the percentage value of net investment return reported in item 5 column 1 minus the percentage value of administration fees and costs of a representative member reported in item 2.4 column 2, minus the percentage value of administration-related tax expense/benefit for a representative member reported in item 2.6 column 2, minus the percentage value of advice fees and costs for a representative member reported in item 3.4 column 2 and minus the percentage value of advice-related tax expense/benefit for a representative member reported in item 3.6 column 2. |\n| ----------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\nRepresentative member fees, costs and taxes\n\nItem 8 and item 9 collect the total fees, costs and taxes for a representative member.\n\nReporting basis: report item 8 and item 9 as at the end of the reporting period, in respect of the reporting period, i.e. on a year-to-date basis.\n\nUnit of measurement: report item 8 and item 9 as a dollar amount on a per member basis.\n\n \n\n| Item 8 and item 9 | Item 8 is a derived item. Report the total fees and costs for a representative member in item 8 as the sum of total investment fees and costs for a representative member reported in item 1.5 column 1, total administration fees and costs for a representative member reported in item 2.4 column 1 and total advice fees and costs for a representative member reported in item 3.4 column 1.Item 9 is a derived item. Report the total fees, costs and taxes for a representative member in item 9 as the sum of total fees and costs reported in item 8, taxes on investment income for a representative member reported in item 1.6 column 1, administration-related tax expense/benefit for a representative member reported in item 2.6 column 1 and advice-related tax expense/benefit for a representative member reported in item 3.6 column 1. |\n| ----------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\nStart date of reporting period for new investment options\n\nItem 10 collects the start date for a new investment option, where it is not the full reporting period.\n\nReporting basis: report item 10 in respect of the start of the reporting period on a year-to-date basis (i.e. the start of the year-to-date, not the start of the current quarter).\n\nUnit of measurement: report item 10 as DD/MM/YYYY.\n\n| Item 10 | Where the start date of the reporting period is not 1 July of the relevant year, report the start date of the reporting period in item 10; otherwise leave item 10 blank. |\n| ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\nInterpretation\n\nFor the purposes of these instructions:\n\n- lifecycle exception has the meaning given in section 29TC(2) of the SIS Act;\n- lifecycle MySuper product means a MySuper product to which a lifecycle exception applies;\n- lifecycle stage of a lifecycle MySuper product means a subclass of members of the RSE within which the lifecycle MySuper product is located who hold that product, determined on the basis of age or age and the factors mentioned in regulation 9.47 of the SIS Regulations;\n\n \n\n- MySuper investment option means[\\[7\\]](#_ftn7):\n\n(a) for a non-lifecycle MySuper product – the investment option underlying the investment strategy for that product; and\n\n(b) for a lifecycle MySuper product – the investment option underlying each lifecycle stage of that product;\n\n- MySuper product has the meaning given in section 10(1) of the SIS Act;\n- non-lifecycle MySuper product means a MySuper product to which a lifecycle exception does not apply;\n- RSE means a registrable superannuation entity as defined in section 10(1) of the SIS Act that is not a small APRA fund or single member approved deposit fund[\\[8\\]](#_ftn8);\n- RSE licensee has the meaning given in section 10(1) of the SIS Act; and\n- SIS Act means Superannuation Industry (Supervision) Act 1993.\n\n---\n\n[\\[1\\]](#_ftnref1) For the purposes of this Reporting Standard, an ‘RSE licensee’s business operations’ includes all activities as an RSE licensee (including the activities of each RSE of which it is the licensee), and all other activities of the RSE licensee to the extent that they are relevant to, or may impact on, its activities as an RSE licensee. For the avoidance of doubt, if the RSE licensee has more than one MySuper investment option within its business operations, the RSE licensee must separately provide the information required by the form for each MySuper investment option within its business operations. Note that for the purposes of the allocation of reporting forms via the ‘Direct to APRA’ application the requirement to provide information for a MySuper product or a lifecycle stage is referred to as an obligation to provide information about each ‘MySuper investment option’.\n\n[\\[2\\]](#_ftnref2) 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[\\[3\\]](#_ftnref3) Refer also to Prudential Standard SPS 310 Audit and Related Matters (SPS 310).\n\n[\\[4\\]](#_ftnref4) Refer to Prudential Standard SPS 510 Governance.\n\n[\\[5\\]](#_ftnref5) Refer to Reporting Standard SRS 001.0 Profile and Structure (Baseline) (SRF 001.0) for obligations to report information about MySuper investment options to APRA on 30 June each year.\n\n[\\[6\\]](#_ftnref6) For the purposes of this Reporting Standard, ‘small APRA fund’ means a superannuation entity that is a regulated superannuation fund, within the meaning of the SIS Act, which has fewer than five members and ‘single member approved deposit fund’ means a superannuation entity that is an approved deposit fund, within the meaning of the SIS Act, and has only one member.\n\n[\\[7\\]](#_ftnref7) Refer to Reporting Standard SRS 001.0 Profile and Structure (Baseline) (SRF 001.0) for obligations to report information about MySuper investment options to APRA on 30 June each year.\n\n[\\[8\\]](#_ftnref8) For the purposes of these instructions, ‘small APRA fund’ means a superannuation entity that is a regulated superannuation fund, within the meaning of the SIS Act, which has fewer than five members and ‘single member approved deposit fund’ means a superannuation entity that is an approved deposit fund, within the meaning of the SIS Act, and has only one member.","sortOrder":0}],"analysis":{"flash_summary":{"complexity_score":6,"scope_assessment":{"changed":false,"description":"The Determination’s scope is to collect investment performance for each MySuper investment option operated by an RSE licensee for prudential supervision and publication under s348A of the SIS Act, as stated (paras 2–5). The instrument confines reporting to RSE licensees’ MySuper options and specifies quarters/annual periods, auditor review, and APRA variation powers; there is no text in this instrument that indicates a change from that stated objective."},"complexity_factors":["Multiple derived calculations and cross‑item arithmetic (e.g. items 1.4/1.5, 2.4, 3.4, 6–9 require combining dollar and percentage cells and representative member conversions) — SRF instructions (items 1–3, 2.4, 3.4, items 6–9).","Look‑through vs non‑look‑through reporting rules vary by item (investment items 1.1–1.7 look‑through; some administration/advice items non look‑through) — SRF instructions (Items 1–3 look‑through rules).","Time‑weighted net return requirement and cash‑flow adjustment (required for items 4–5) imposes specific performance measurement methodology — SRF instructions (Net investment return).","Split of the indirect cost ratio into sub‑categories (investment, administration, advice) with consistency checks against PDS disclosures — SRF instructions (Comparison to PDS; ICR split guidance).","Accrual reporting and 'hard close' valuation requirement increases accounting complexity (accrued taxes, performance fees) — Reporting basis and valuation instructions.","Mandatory auditor review and minimum limited assurance engagement on systems, procedures and internal controls creates external assurance burden — para 11 and related notes.","Electronic submission, digital signature and authorisation requirements (Direct to APRA, CEO/CFO authorisation) add operational controls and dependencies — paras 6, 13–15.","APRA discretion to change reporting frequency, vary requirements or grant extensions creates conditional compliance paths and requires monitoring — paras 8, 10, 16.","Numerous cross‑references to SIS Act, Corporations Regulations, SPS 530 and other reporting standards require coordination across regulatory instruments — Purpose and Interpretation sections."],"plain_english_summary":"This Determination makes RSE licensees report investment‑performance data for each MySuper investment option to APRA using Form SRF 702.0 on quarterly and annual timetables (paras 3, 7–9). APRA will use the data for prudential supervision and publication under the SIS Act (para 2). Members’ fees, costs and taxes are the items reported; RSE licensees must calculate time‑weighted net returns, produce a $50,000 “representative member” view and have reporting systems reviewed by the RSE auditor (paras 1, 11, SRF instructions)."},"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-realtime","completionTokens":3234},"content_quality":"ok","complexity_score":6,"scope_assessment":{"changed":false,"description":"The scope remains focused on the original purpose of collecting detailed investment performance data for MySuper products to enable prudential supervision by APRA and publication for member comparison."},"complexity_factors":["17 defined technical terms including 'lifecycle stage', 'indirect cost ratio', and 'representative member'","Mathematical calculation formulas for derived items based on a hypothetical $50,000 member balance","Dual reporting bases (look-through vs non-look-through) with different rules for different line items","Multiple cross-references to the SIS Act, Corporations Regulations, and prudential standards SPS 310 and SPS 530","Tiered reporting deadlines (42 days for initial quarter, 28 days for subsequent quarters, 3-4 months for annual)","Requirements for auditor assurance and digital signature authorization"],"plain_english_summary":"This standard requires superannuation funds that offer MySuper default products to report detailed fees, costs, taxes and net returns for a representative $50,000 member to APRA on a quarterly and annual basis. Reports must take a look‑through view (including underlying managers) and separately cover lifecycle stages where relevant, and be electronically submitted, auditor‑tested and signed off by senior officers.\n\nThe data strengthens APRA’s supervision and enables comparable public performance and cost tables for members."}},"importantCases":[],"_links":{"self":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-92-of-2013-srs-702-0-investm","history":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-92-of-2013-srs-702-0-investm/history","analysis":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-92-of-2013-srs-702-0-investm/analysis","conflicts":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-92-of-2013-srs-702-0-investm/conflicts","importantCases":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-92-of-2013-srs-702-0-investm/important-cases","documents":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-92-of-2013-srs-702-0-investm/documents"}}