Responding to the government's Stronger Super reforms, NAB Asset Servicing has launched a new offering for 2013, which helps meet Australian Prudential Regulation Authority and Australian Security and Investments Commission (ASIC) reporting requirements, due to take effect from July 2013.
The FundEdge offering will provide access to counterparty exposure reporting and asset allocation analysis solutions, which will allow financial institutions and trustee boards greater transparency in monitoring exposure and fund investment allocations at the whole-of-fund level.
As well as these reporting solutions, the FundEdge offering will include a 'look-through' function for monitoring indirect investments, with the possibility of a similar model aimed at portfolios that hold managed funds.
Peter Hele, managing director of product and strategic alliances at NAB Asset Servicing, said the FundEdge offering is squarely aimed at assisting with additional regulatory burdens.
"We are committed to supporting our clients as they prepare for the reforms taking effect next year," he said. "We are taking the lead by working with clients, consultants and industry bodies to understand how to best deliver an appropriate and robust solution for the industry."
More broadly, Hele referred to the slated Stronger Super reforms as the "most significant changes to the superannuation industry since the inception of the superannuation guarantee in the early 90s" and said they are reflective of a "paradigm shift" within the institutional investment sector.
