Draft AIST RG97 Manual

Draft AIST RG97 Manual

AIST has developed the following draft Toolkit for use by AIST member funds. Since development of this draft Toolkit, an RG97 Industry Wide Working Group has been established. This draft does not yet include any outcomes from the RG97 Industry Wide Working Group.

View the draft toolkit here

The RG97 Industry Wide Working Group has been established with the encouragement of ASIC to provide a forum for all parts of the financial services industry in Australia impacted by ASIC Class Order 14/1252 to share views, develop solutions to unresolved issues and help develop industry guidance on compliance with ASIC Class Order 14/1252. Participants of the group represent all sectors of the industry, including fund managers, retail and industry superannuation funds and peak industry bodies.

As at 25 June 2017, the following are key issues for inclusion within an industry wide manual which await finalisation through the RG97 Industry Wide Working Group:

  1. A definition of, and calculation methodology for, transaction costs.
  2. Calculation methodologies for OTC derivative costs.
  3. Detailed mapping of what is a ‘fee’ and what is a ‘cost’.
  4. A definition of ‘property management costs’ 
  5. Resolution of a template for collecting fee and cost information from investment managers.

Once these issues have been finalised, AIST will notify its member funds.