14 June 2013
Standard Risk Measure a significant development for the industry
The Standard Risk Measure (SRM) has been a significant step forward for the industry enabling a standard calculation and presentation to be applied to investment risk in superannuation.
Developed by the Financial Services Council (FSC) and the Association of Superannuation Funds Australia (ASFA) in consultation with APRA and ASIC, the SRM was launched less than one year ago. A full review and analysis of the first phase of the SRM has been scheduled for later this year.
Pauline Vamos said “the release of the SRM was an important first step to providing greater transparency to consumers.”
The SRM aims to provide better protection for consumers by standardising the presentation of risk for all investment options within funds.
John Brogden, CEO of the FSC said: “This is good for consumers as this information has been previously unavailable.”
The FSC/ASFA working group looks forward to working with APRA, ASIC and other stakeholders in the development of the next iteration of the SRM.
They said the analysis by SuperRatings and other organisation will be incorporated into the review process.
For further inquiries, please contact:
FSC
Robyn Tolhurst
02 8235 2561
ASFA
Katrina Horrobin
02 8079 0825