text: Financial Sector (Collection of Data) (reporting standard) determination No. 92 of 2013 - SRS 702.0 - Investment Performance (Australia)
  Link to law: https://www.comlaw.gov.au/Details/F2013L01739
  Financial Sector (Collection of Data) (reporting standard) determination No. 92 of 2013
  I, 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.
  Under section 15 of the Act, I DECLARE that the reporting standard begins to apply to those financial sector entities on 30 September 2013.
  This instrument commences on 30 September 2013.
  4. 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.
  (a) in the case of information in relation to the quarter ending 30 September 2013 – within 42 calendar days after that date[2];
  (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;
  (c) in the case of annual information:
  Items 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.
  SRF 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.
  APRA 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.
  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 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.
  Start date of reporting period for new investment options
  Item 10 collects the start date for a new investment option, where it is not the full reporting period.
  Reporting 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).
  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.