ASF submission to ABSF draft investment principles
On 23 May, the Australian Office of Financial Management (AOFM) released for public comment its draft guiding investment principles for ABSF investment. The guiding investment principles are intended to be “principles based” rather than prescriptive and will be used by the AOFM for identifying transactions that will meet the Federal Government’s primary objective of increasing the availability of finance to SMEs and contributing to the development of market infrastructure that facilitates securitisation of SME loans.
The AOFM invited comments to be made by market participants on the ABSF draft investment principles but not in relation to the broader investment process which will be finalised by the AOFM at a later stage. On 6 June, the ASF submitted a short response on the draft guiding investment principles.
The ASF will be facilitating two public information sessions to be presented by the AOFM in Sydney and Melbourne on 23 and 25 July respectively. At those sessions, market participants will have an opportunity to receive an update and ask questions about the ABSF.
The AOFM is intending on providing further explanations on the broader investment assessment process of the ABSF against which investment proposals will be eventually evaluated. The ASF will broadcast details of those sessions to its members shortly.
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