...early bird submissions for Financial System Inquiry.Of...

...early bird submissions for Financial System Inquiry.
Of particular interest to PIF's "if only" wishes.

From NAB summary of recommendations:

1.2.3. Evaluate the adoption of a liquidity backstop facility for superannuation funds. This is required to increasethe confidence of superannuation funds
in investing in longer term assets without hindering their
ability to meet member demands for switching or redemption.

Specifically, the Inquiry should, at a
minimum, investigate the following key questions
with respect to implementing such a facility:

i) Who would be the best party to provide a liquidity
backstop facility?
ii) What would be the likely cost of a liquidity
backstop for superannuation funds?
iii) What would be the legal structure of assets held
in such a facility?
1.2.4. Increase the depth and liquidity of the retail
corporate bond markets to broaden funding sources

3.5.1. Unit pricing is currently the most effective method
of fund valuation and plays an integral role in
ensuring equity and fairness remain features of

Australia’s superannuation system. Unit pricing in
superannuation funds ensures accurate valuations
and equitable distributions for all members.

Consideration should be given to making unit
pricing a requirement of all collective investment,
public offer funds.
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Regards,