Division Do not report investment flows from dire - Financial Sector (Collection of Data) (reporting standard) determination No. 80 of 2013 - SRS 531.0 - Investment Flows - Do not report investment flows from directly held investments in derivatives on SRF 531.0; report them instead on Reporting Form SRF 534.0 Derivative Financial Instruments. | Zoe
Financial Sector (Collection of Data) (reporting standard) determination No. 80 of 2013 - SRS 531.0 - Investment Flows
Do not report investment flows from direDo not report investment flows from directly held investments in derivatives on SRF 531.0; report them instead on Reporting Form SRF 534.0 Derivative Financial Instruments.
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These instructions assist completion of Reporting Form SRF 531.0 Investment Flows (SRF 531.0). SRF 531.0 collects detailed information on movements in the investments of a registrable superannuation entity (RSE). Information reported in SRF 531.0 is required primarily for prudential, publication and statistical purposes. Information reported on SRF 531.0 is also required for the purposes of the Australian Bureau of Statistics.
Reporting level
SRF 531.0 must be completed for each RSE, defined benefit RSE, pooled superannuation trust (PST) and eligible rollover fund (ERF).
Reporting basis and unit of measurement
Report all items on SRF 531.0 in accordance with the Australian Accounting Standards unless otherwise specified.
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 is free to 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 should attempt to use the same exchange rates across all returns to APRA.
Items on SRF 531.0 must be reported as at the end of the reporting period and with respect to transactions that occurred during the reporting period. Report information with respect to transactions occurred during the reporting period on a year to date basis, rather than for the individual quarter alone.
Items on SRF 531.0 are to be reported as thousands of dollars. Report gains as positive values and losses as negative values.
Items on SRF 531.0 are to be reported on a non look through basis or a look through basis. A look through basis is where information about the underlying investments in an investment vehicle must be reported.
These instructions specify the reporting basis, unit of measurement and look through basis that applies to each item.
Specific instructions
Terms highlighted in bold italics indicate that the definition is provided in these instructions. Additional definitions are provided at the end of these instructions.
Do not report investment flows from directly held investments in derivatives on SRF 531.0; report them instead on Reporting Form SRF 534.0 Derivative Financial Instruments.
Movements in directly held investments
Item 1 collects changes in value of directly held investments in each asset class, asset domicile, asset listing, fixed income type and fixed income currency type due to net transactions, income, gains and losses.
Reporting basis: report column 6, column 7 and column 9 with respect to transactions that occurred during the reporting period; report column 8, column 10 and column 11 as at the end of the reporting period.
Unit of measurement: report item 1 in thousands of dollars.
Look through basis: report item 1 on a non look through basis.
Item 1
Report directly held investments in item 1. Indirectly held investments must be reported in item 2.Report, for each combination of asset class type, asset domicile type, asset listing type fixed income type, fixed income currency type: the asset class type in column 1, the asset domicile type in column 2, the asset listing type in column 3, the fixed income type in column 4, the fixed income currency type in column 5, net transactions in column 6, investment income in column 7, unrealised gains / losses in column 8, realised gains / losses in column 9, total gains / losses in column 10 and the portion of total gains / losses that are due to foreign exchange gains / losses in column 11.Column 10 is a derived item. Report total gains / losses reported in column 10 as equal to the sum of unrealised gains / losses reported in column 8 and realised gains / losses reported in column 9.Item 1.1 is a derived item. Report total movements in directly held investments in item 1.1 as equal to the sum of values reported in the corresponding column in item 1 column 7 to column 11 inclusive.The asset class types are: cash, fixed income, equity, property, infrastructure, commodities and other.The asset domicile types are: Australia domicile, international domicile and ‘not applicable’. Where the asset domicile is not known, report asset domicile type as ‘not applicable’.The asset listing types are: listed, unlisted and ‘not applicable’. Report asset listing type as ‘not applicable’ for asset class type cash or fixed income. Where the asset listing is not known, report asset listing type as ‘not applicable’.The fixed income types are: Government debt, non Government debt, mortgage debt, credit and ‘not applicable’. Fixed income types are only applicable to the asset class type fixed income. For asset class type fixed income, where the fixed income type is not known, report fixed income type as ‘not applicable’.The fixed income currency types are: Australian dollars, other currency and ‘not applicable’. Fixed income currency types are only applicable to the asset class type fixed income. For asset class type fixed income, where the fixed income currency is not known, report fixed income currency as ‘not applicable’.An investment is to be reported as asset class type ‘other’ for reasons including, but not limited to, (a) an RSE licensee does not have sufficient information about an investment to classify it into one or more asset classes; or (b) an investment is in a different category than the combinations of: asset class type, asset domicile type, asset listing type, fixed income type and fixed income currency type.Exclude investments from asset class type ‘other’ investments that are in multi-asset class investment vehicles such as cash management trust, life company capital guaranteed, life company investment linked, listed retail trust, pooled superannuation trust, unlisted retail trust, and wholesale trust. Investments in these investment vehicles must be allocated to each asset class, asset domicile, asset listing, fixed income type and fixed income currency represented in the underlying investment.Examples of other investments include: hedge funds, mezzanine debt, convertible debt.Examples of listed equity investments include: common shares, preference shares. Exchange traded funds (ETFs) and listed trusts are to be allocated to the asset class of the underlying asset. Include equity ETFs, and listed equity trusts in listed equity. Exclude non-equity ETFs and listed trusts such as: fixed income ETFs, commodity ETFs, listed property trusts and listed infrastructure trusts.Examples of unlisted equity investments include: venture capital, private equity.Examples of commodities include: precious metals, agricultural natural resources, energy, livestock, commodity ETFs, exchange traded commodities (ETCs).
Directly held
Represents investments made by the RSE in its own name. Includes: investments held by a custodian in trust for the RSE.
Indirectly held
Represents an investment made via an investment vehicle.
Net transactions
Represents the net of all acquisition and disposal transactions, which involve the exchange of valuable consideration between counterparties.
Investment income
Represents gross revenue in the form of income or distributions from investments. Includes: interest, dividends, rental income, trust distributions.
Unrealised gains/losses
Represents changes in the value of investments as a result of remeasurement changes in the market value of investments. Includes: impairment charges and provisions.
Realised gains/losses
Represents changes in the value of investments as a result of closing or disposal of investments.
Foreign exchange gains/losses
Represents changes in the value of investments as a result of unrealised and realised changes in currency exchange rates which are used to translate or value investments.
Movements in indirectly held investments
Item 2 collects changes in value of indirectly held investments by asset class, asset domicile, asset listing, fixed income type and fixed income currency type, within the investment vehicle, due to net transactions, income, gains and losses.
Reporting basis: report column 6, column 7 and column 9 with respect to transactions that occurred during the reporting period; report column 8, column 10 and column 11 as at the end of the reporting period.
Unit of measurement: report item 2 in thousands of dollars.
Look through basis: Report column 6 to column 11 inclusive on a look through basis. Report column 6 with respect to transactions made by the RSE in acquiring or disposing of units of the investment vehicle; report column 7 with respect to income received by the RSE from the investment vehicle; report column 8 to column 11 inclusive with respect to information about gains and losses reported to the RSE by the investment vehicle. Where movements of particular asset class type, asset domicile type, asset listing, fixed income and currency type represented in the underlying investments are known, report these in column 6 to column 11 inclusive. Where only the movements for the investment vehicle are known, allocate these movements to each combination of asset class type, asset domicile type, asset listing, fixed income and currency type represented in the underlying investments as reported in item 3 on Reporting Form SRF 530.0 Investments.
Example: An investment in a wholesale trust is reported as 80,000 Australian domicile listed equity and 1,200,000 International domicile unlisted property in item 3 on Reporting Form SRF 530.0 Investments. The wholesale trust reports to the RSE licensee that year-to-date investment income is 10,000,000, unrealised gains are 20,000,000 and realised losses are -5,000,000 with no foreign exchange gains/losses. The RSE had a net purchase of an additional 30,000,000 units in the trust. If the RSE licensee has no further information on the breakdown of these numbers to specific asset classes, report item 2 as:
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
(11)
Equity
Australia
Listed
NA
NA
12,000
4,000
8,000
-2,000
6,000
0
Property
International
Unlisted
NA
NA
18,000
6,000
12,000
-3,000
9,000
0
Item 2
Report indirectly held investments in item 2. Directly held investments must be reported in item 1.Report, for each combination of asset class type, asset domicile type, asset listing type, fixed income type and fixed income currency type: the asset class type in column 1, the asset domicile type in column 2, the asset listing type in column 3, the fixed income type in column 4, the fixed income currency type in column 5, net transactions in column 6, investment income in column 7, unrealised gains / losses in column 8, realised gains / losses in column 9, total gains / losses in column 10 and the portion of total gains / losses that are due to foreign exchange gains / losses in column 11.Column 10 is a derived item. Report total gains / losses reported in column 10 as equal to the sum of unrealised gains / losses reported in column 8 and realised gains / losses reported in column 9.Item 2.1 is a derived item. Report total movements in indirectly held investments in item 2.1 as equal to the sum of values reported in the corresponding column in item 2 column 7 to column 11 inclusive.The asset class types are: cash, fixed income, equity, property, infrastructure, commodities and ‘other’.The asset domicile types are: Australia domicile, international domicile and ‘not applicable’. Where the asset domicile is not known, report asset domicile type as ‘not applicable’.The asset listing types are: listed, unlisted and ‘not applicable’. Report asset listing type as ‘not applicable’ for asset class type cash or fixed income. Where the asset listing is not known, report asset listing type as ‘not applicable’.The fixed income types are: Government debt, non Government debt, mortgage debt, credit and ‘not applicable’. Fixed income types are only applicable to the asset class type fixed income. For asset class type fixed income, where the fixed income type is not known, report fixed income type as ‘not applicable’.The fixed income currency types are: Australian dollars, other currency and ‘not applicable’. Fixed income currency types are only applicable to the asset class type fixed income. For asset class type fixed income, where the fixed income currency is not known, report fixed income currency as ‘not applicable’.An investment is to be reported as asset class type ‘other’ for reasons including, but not limited to, (a) an RSE licensee does not have sufficient information about an investment to classify it into one or more asset classes; or (b) an investment is in a different category than the combinations of: asset class type, asset domicile type, asset listing type, fixed income type and fixed income currency type.Exclude investments from asset class type ‘other’ investments that are in multi-asset class investment vehicles such as cash management trust, life company capital guaranteed, life company investment linked, listed retail trust, pooled superannuation trust, unlisted retail trust, and wholesale trust . Investments in these investment vehicles must be allocated to each asset class, asset domicile, asset listing, fixed income and fixed income currency represented in the underlying investment.Examples of other investments include: hedge funds, mezzanine debt, convertible debt.Examples of listed equity investments include: common shares, preference shares. ETFs and listed trusts are to be allocated to the asset class of the underlying asset. Include equity ETFs, and listed equity trusts in listed equity. Exclude non-equity ETFs and listed trusts such as: fixed income ETFs, commodity ETFs, listed property trusts and listed infrastructure trusts.Examples of unlisted equity investments include: venture capital, private equity.Examples of commodities include: precious metals, agricultural natural resources, energy, livestock, commodity ETFs, ETC.
Glossary of additional terms
Asset class type
Cash
Represents cash on hand and demand deposits, as well as cash equivalents. Cash equivalents represent short-term, highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value. Reference: Australian Accounting Standards.
Fixed income
Represents a loan, placement or debt security. Loans are financial assets that are created when a creditor lends funds directly to a debtor, and are evidenced by documents that are non negotiable. Placements are liabilities of entities not described as authorised deposit-taking institutions, e.g. State treasuries. Debt securities are securities which represent borrowed funds which must be repaid by the issuer with defined terms including the notional amount (amount borrowed), an identifiable return and maturity/renewal date. Includes: short and long-term debt securities.
Equity
Represents an ownership interest in a business, trust or partnership. Includes: common shares, preference shares and units. Excludes: units in property trusts, units in infrastructure trusts.
Property
Represents an investment in real estate where the earnings and capital value are dependent on cash flows generated by the property through sale or rental income.
Infrastructure
Represents the basic physical systems of a country, state or region including transportation, communication, utilities, and public institutions.
Commodities
Represents natural resources that are either grown or extracted from the ground and are often used as inputs in the production of other goods or services.
Domicile type
Australian domicile
Represents investments issued in Australia.
International domicile
Represents investments issued outside Australia.
Asset listing type
Listed
Represents financial instrument that is traded through an Australian or international stock exchange.
Unlisted
Represents financial instrument that is not traded through an Australian or international stock exchange.
Fixed income type
Government debt
Represents a debt security issued by a federal, state, territory or local governments, or corporations owned or controlled by a federal, state, territory or local government.
Non Government debt
Represents a debt security issued by a corporation that is not owned or controlled by a federal, state, territory or local government.
Mortgage debt
Represents a debt security where specific mortgage assets are provided as collateral.
Credit
Represents a loan, a placement or a debt security where specific non-mortgage assets are provided as collateral.
Fixed income currency type
Australian dollars
Represents an investment denominated in Australian dollars.
Other currency
Represents an investment denominated in a currency other than Australian dollars.
Investment vehicles
Cash management trust
Represents a unit trust which is governed by a trust deed which generally confines its investments (as authorised by the trust deed) to financial securities available through the short-term money market. Cash management trusts issue units in the trust that are redeemable by the unit holder on demand.
Life company guaranteed
Represents the provision of benefits calculated by reference to units, the value of which are guaranteed by the contract not to be reduced and provides for the account to be increased, within the meaning given in s. 14.2 of the Life Insurance Act 1995.
Life company investment linked
Represents the provision of benefits calculated by reference to a running account under the contract and provides for the account to be increased, within the meaning given in s. 14.2 of the Life Insurance Act 1995.
Listed retail trust
Represents a collective investment vehicle with units on issue listed on an Australian or an international stock exchange which provides exposure to a diversified portfolio of investments and can be accessed by retail clients, at low entry levels, as defined in the Corporations Act 2001.
Pooled superannuation trust
Represents a type of collective investment trust where an investment manager invests the assets of superannuation funds, approved deposit funds and other pooled superannuation trusts. Excludes: unitised investments with life companies where the original or primary investment is an insurance or investment policy.
Unlisted retail trust
Represents a collective investment vehicle that is not listed on an Australian or international stock exchange, provides exposure to a diversified portfolio of investments and can be accessed by retail clients, at low entry levels, as defined in the Corporations Act 2001.
Wholesale trust
Represents a collective investment vehicle that provides exposure to a diversified portfolio of investments and can be accessed by wholesale clients only, at high entry levels, as defined in the Corporations Act 2001.
Interpretation
For the purposes of these instructions:
defined benefit RSE means an RSE that is a defined benefit fund within the meaning given in Prudential Standard SPS 160 Defined Benefit Matters;
eligible rollover fund (ERF) has the meaning given in section 10(1) of the SIS Act and, in relation to the period between 1 July 2013 and 31 December 2013, includes an existing ERF within the meaning given in section 391 of the SIS Act;
pooled superannuation trust (PST) has the meaning given in section 10(1) of the SIS Act;
RSE means a registrable superannuation entity as defined in section 10(1) of the SIS Act that is not a defined benefit RSE, PST, ERF, small APRA fund or single member approved deposit fund[6];
RSE licensee has the meaning given in section 10(1) of the SIS Act;
SIS Act means Superannuation Industry (Supervision) Act 1993; and
SIS Regulations means Superannuation Industry (Supervision) Regulations 1994.