On 29 March 2017, ASIC released an update to Regulatory Guide 97 (RG97) regarding the provision of fee and cost disclosure for superannuation and managed investment products. Due to the wide-ranging nature of the changes the majority of providers have issued new Product Disclosure Statements, or Supplementary Product Disclosure Statements.
Within XPLAN, two modules deal with superannuation and managed investment fees: IPS (Portfolios), and WealthSolver (previously known as SuperSolver). The disclosure information within these modules will be updated as details from the providers are received and processed. As many providers are yet to complete their changes there will be an impact on our ability to update IRESS systems. At this stage we estimate that 60% of the changes have been completed and anticipate that the remainder will received and processed by the end of December 2017.
Whilst we work through the changes you may wish to confirm if a particular fund or product has been updated, you can do so through this linkProduct Disclosure Statement Updates. Further, WealthSolver will continue to detail which products have been updated and what Product Disclosure Statement is being referred to within the research. You retain the ability to edit fees for disclosure as required until the updates have been completed.
Please Note: further updates as they come to hand will be added here - ensure that you 'follow' this post to receive future notifications.