Australian super funds step up scrutiny of unlisted assets

Following the establishment of new guidelines from the Australian Prudential Regulation Authority (APRA), Australian superannuation funds are shifting to more frequent valuations of the A$650 billion ($418 billion) of unlisted assets that they hold, as well as emphasising the quality of internal valuation procedures. For instance, Aware Super told AsianInvestor that it now performs quarterly valuations for all directly held unlisted assets while requiring the same from the manager…