Financial Sector (Collection of Data) (reporting standard) determination No. 16 of 2021
Table 2: Actual asset allocationTable 2: Actual asset allocation
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This instruction guide is designed to assist in the completion of Reporting Form SRF 550.0 Asset Allocation (SRF 550.0). This form collects information relating to the asset allocation and investments of registrable superannuation entities.
General directions and notes
Reporting level
SRF 550.0 must be completed for each investment option within an RSE, defined benefit RSE, PST or ERF excluding the following:
investment options which have been aggregated as permitted in table 3 of Reporting Form SRF 605.0 RSE Structure (SRF 605.0);
investment options which are reported on SRF 605.0 under investment option category annuity.
Reporting tables
Tables 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.
The 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.
Information required
For each reporting period ending on or after 30 June 2014 but before 30 June 2021, an RSE licensee must provide information required by this Reporting Standard under Table 1 of SRF 550.0[5].
For each reporting period ending on or after 30 June 2021 but before 30 June 2022, an RSE licensee must, in respect of investment options underlying a MySuper product or trustee-directed product, report the information required under each Table of SRF 550.0.[6]
For each reporting period ending on or after 30 June 2022, an RSE licensee must report the information required under each Table of SRF 550.0[7].
Reporting basis and unit of measurement
Report all items on SRF 550.0 in accordance with the Australian Accounting Standards.
Assets and liabilities denominated in currencies other than AUD are to be converted to AUD using the mid-point rate (of market buying and selling spot quotations) effective as at the end of the reporting period. An RSE licensee may use those AUD exchange rates that it judges to be a representative closing mid-market rate as at the end of the reporting period. However, to ensure consistency across related returns and to assist in the reconciliation between these returns, an RSE licensee must use the same exchange rates across all returns submitted to APRA.
Amounts in SRF 550.0 are to be reported as whole dollars. Percentages are to be reported as an unconverted number to two decimal places. For example, 12.34 per cent is to be reported as 0.1234.
Items on SRF 550.0 must be reported as at the end of the reporting period.
Certain items in SRF 550.0 are to be reported on an APRA-look through basis. Reporting on an APRA-look through basis means:
(a) where the ultimate investment is held directly by the RSE licensee, reporting that investment;
(b) where the ultimate investment is held by a person connected with the RSE licensee, reporting that investment; and
(c) where the ultimate investment is not held by the RSE licensee or a person connected with the RSE licensee, reporting the most proximate investment, of a person connected with the RSE licensee, to the ultimate investment.[\[8\]](#_ftn8) [\[9\]](#_ftn9)
These instructions specify look through basis that applies to each item.
Definitions
Terms highlighted in bold italics indicate that the definition is provided in Reporting Standard SRS 101.0 Definitions for Superannuation Data Collections (SRS 101.0).
Specific instructions
Table 1: Strategic asset allocation
APRA-look through basis
Report table 1 on an APRA-look through basis, reporting the strategic asset allocation regardless of how investments are made.
Instructions
Report the benchmark allocation to each strategic sector set as part of the board approved strategic asset allocation, reporting ‘Not Applicable’ for strategic subsector, strategic subsector domicile type, strategic subsector listing type and strategic subsector international economy type. Where the investment option is managed on a dynamic asset allocation basis and a benchmark asset allocation has been adopted, report the allocation in column 10. Where the investment option does not have asset allocation ranges, and thus no lower or upper benchmarks, leave column 11 and column 12 blank. Where investment domicile type ‘International Domicile’ or ‘Not Specified’ is reported in column 4 and currency hedging targets are set at asset class level or investment option level, report the investment currency hedging ratio (%) in column 13; otherwise, leave column 13 blank. If currency exposure targets are set at the investment option level, report the benchmark currency exposure in column 10 using ‘Currency Exposure’ as the strategic sector. In these instances, the investment benchmark allocation (%) to ‘Currency Exposure’ is treated separately and does not contribute to the total benchmark allocations of the investment option.
Where the listing is not specified when setting the strategic asset allocation, report investment strategic sector listing type as ‘Not Specified’. Report investment strategic sector listing type as ‘Not Applicable’ for asset class type ‘Cash’.
Where the investment domicile is not specified when setting the strategic asset allocation, report investment strategic sector domicile type as ‘Not Specified’.
Report investment strategic sector international economy type as ‘Not Applicable’ for investment strategic sector domicile type ‘Australian Domicile’. Where the investment strategic sector international economy type is not specified, report investment strategic sector domicile type as ‘Not Specified’.
Where the strategic sector:
a) listing type, domicile type or international economy type is ‘Not Specified’, or
b) allocation within the reported strategic sector includes other strategic sectors e.g. ‘Alternatives’ includes allocation to ‘Infrastructure’ or ‘Fixed Income’ includes allocation to both ‘Fixed Income Excluding Credit’ and ‘Credit’,
report an asset allocation target at the reporting date to the strategic subsector, strategic subsector listing type, strategic subsector domicile type and strategic subsector international economy type for each strategic subsector approved by the board, committee or individual with investment delegations under the investment governance framework of the RSE licensee. Report the benchmark allocation for the strategic subsector on an additional row for each combination of strategic sector and strategic subsector. If ‘Currency Exposure’ is reported for strategic sector, do not report a strategic subsector allocation.
Column
Field name
Unique identifier
Applicable to
Valid values
Description
1
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.
2
Investment Strategic Sector Type
Y
All filers
CashFixed IncomeFixed Income Excluding CreditCreditEquityPropertyInfrastructureAlternativesGrowth AlternativesDefensive AlternativesCurrency Exposure
Report the strategic sector of the investment.
3
Investment Strategic Sector Listing Type
Y
All filers
ListedUnlistedNot SpecifiedNot Applicable
Report the listing type of the strategic sector of the investment.
4
Investment Strategic Sector Domicile Type
Y
All filers
Australian DomicileInternational DomicileNot SpecifiedNot Applicable
Report the domicile type of the strategic sector of the investment.
5
Investment Strategic Sector International Economy Type
Report the international economy type of the strategic subsector of the investment.
10
Investment Benchmark Allocation Percent
All filers
Percentage to 2 decimal places
Report the benchmark allocation (%) of the investment.
11
Investment Benchmark Allocation Lower Percent
All filers
Percentage to 2 decimal places
Report the benchmark allocation lower (%) of the investment.
12
Investment Benchmark Allocation Upper Percent
All filers
Percentage to 2 decimal places
Report the benchmark allocation upper (%) of the investment.
13
Investment Currency Hedging Ratio Percent
All filers
Percentage to 2 decimal places
Report the currency hedging ratio (%) of the investment.
Table 2: Actual asset allocation
APRA-look through basis
For directly held investments: report Table 2 on a non-APRA-look through basis.
For indirectly held investments: report Table 2 on an APRA-look though basis.
When reporting on an APRA-look through basis, information about the underlying investments in an investment vehicle must be reported. Investments in investment vehicles must be allocated to each combination of asset class sector type, asset class characteristic 1, asset class characteristic 2, asset class characteristic 3, domicile type, international economy type and listing type represented in the underlying investments.
When reporting the relevant asset class sector type of investments on an APRA-look through basis, an RSE licensee must seek information about the actual holdings of the first non-connected entity - investments and identify the asset class sector type(s) of these holdings. For example, the cash position in an equity portfolio must be reported as cash.
Instructions
Report the value of investments held in respect of each investment option. For each investment, report the strategic sector, and the listing type, domicile type and international economy type of the strategic sector which the investment is allocated to. Report the asset class sector type, asset class characteristic 1, asset class characteristic 2, asset class characteristic 3, domicile type, international economy type and listing type of the investment according to the relevant look-through basis above.
Investments in investment vehicles must be allocated to each investment asset class sector type, investment asset class characteristic 1 type, investment asset class characteristic 2 type, investment asset class characteristic 3 type, investment listing type, investment domicile type and investment international economy type represented in the underlying investment.
Exchange traded funds (ETFs) and listed trusts are to be allocated to the investment asset class sector type of the underlying asset with investment listing type as ‘Listed’. Include equity ETFs and listed equity trusts with investment asset class sector type as ‘Equity’. Include non-equity ETFs and listed trusts in the investment asset class sector type of the underlying asset with investment listing type as ‘Listed’. For example, report investment asset class sector type for fixed income ETFs as ‘Fixed Income’, commodity ETFs as ‘Alternatives’, listed property trusts as ‘Property’ and listed infrastructure trusts as ‘Infrastructure’.
Alternative strategy funds are to be allocated to the investment asset class sector type ‘Alternatives’ with the strategy classified under investment asset class characteristic 2. Commodities are to be allocated to the investment asset class sector type ‘Alternatives’ with investment asset class characteristic 2, as ‘Alternatives Commodities’. Other alternative assets are to be allocated to the investment asset class sector type ‘Alternatives’ with investment asset class characteristic 2, as ‘Alternatives Other’.
The value of investments reported in Table 2, column 13 must be calculated as the sum of the value of all physical assets (having applied APRA-look through) together with the effective exposure of the derivative instruments.
When reporting indirectly held investments, apportion the value of the market exposure of any derivative contracts within the indirectly held investment to the asset class sector type(s) and asset class characteristics to which the derivatives relate. The apportionment will enable the net asset value of the indirectly held investment to be reported in Table 2, column 13.
If derivative contracts are used within an indirectly held investment to hedge currency exposure, report the percentage of the indirectly held investment’s net asset exposure that is currency hedged (refer to Table 2, column 15).
The proportion of the investment which is currency hedged must be reported at the same level that it is implemented. If the RSE licensee implements currency hedging at asset class level, report the proportion of the investment which is currency hedged in Table 2, column 15. If an RSE licensee implements currency hedging at an investment option level, report the value of the currency exposure in Table 2, column 13 using Currency Exposure as the strategic sector and the asset class sector type. In these instances, the value of the Currency Exposure is treated separately and does not contribute to the total value of the investment option.
Where the listing is not specified when setting the strategic asset allocation, report investment strategic sector listing type as ‘Not Specified’. Report investment strategic sector listing type as ‘Not Applicable’ for asset class type ‘Cash’.
Where the investment strategic sector domicile is not specified, report investment strategic sector domicile type as ‘Not Specified’.
Report investment strategic sector international economy type as ‘Not Applicable’ for investment strategic sector domicile type ‘Australian Domicile’. Where the investment strategic sector international economy type is not specified, report investment strategic sector domicile type as ‘Not Specified’.
Where the investment listing is not known, report investment listing type as ‘Not Applicable’.
Where the investment domicile is not known, report investment domicile type as ‘Not Applicable’. Investment domicile is the domicile of the assets identified when applying the APRA-look through requirements, not the domicile of the investment vehicle.
Report investment international economy type as ‘Not Applicable’ for investment domicile type ‘Australian Domicile’. Where the international economy type is not known, report investment domicile type as ‘Not Applicable’.
Column
Field name
Unique identifier
Applicable to
Valid values
Description
1
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.
2
Investment Strategic Sector Type
Y
All filers
CashFixed IncomeFixed Income Excluding CreditCreditEquityPropertyInfrastructureAlternativesGrowth AlternativesDefensive AlternativesCurrency Exposure
Report the strategic sector of the investment.
3
Investment Strategic Sector Listing Type
Y
All filers
ListedUnlistedNot SpecifiedNot Applicable
Report the listing type of the strategic sector of the investment.
4
Investment Strategic Sector Domicile Type
Y
All filers
Australian DomicileInternational DomicileNot SpecifiedNot Applicable
Report the domicile type of the strategic sector of the investment.
5
Investment Strategic Sector International Economy Type