The Australian Government has been rolling out a series of significant regulatory reforms of the superannuation industry, many of which will commence in 2013. These reforms are fundamentally designed to enhance the prudential supervision of the industry and introduce a number of new requirements for superannuation fund trustees.

One of the areas targeted by the reforms is the investment management function of superannuation fund trustees. From 1 July 2013, there are some significant new processes which trustees will need to introduce in relation to the engagement of investment managers and the making of investment decisions. Many of these new processes will require increased input from the investment managers and investment professionals engaged by trustees.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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