The Australian Prudential Regulation Authority (APRA) has released findings of a review into the governance practices followed by registrable superannuation entity (RSE) licensees that were invested in the private equity technology company, Canva Pty Ltd (Canva).
In light of the deterioration in the investment market conditions over the course of 2022, APRA selected Canva as the focus of a targeted review of unlisted asset valuation governance due to its public profile as an asset in a higher-risk asset class.
In a letter to industry released today, APRA found the majority of RSE licensees' governance practices related to their valuation of Canva appropriate, although it also highlighted some areas of improvement that APRA continues to address with RSE licensees through its supervision activities.
The letter to industry is available on the APRA website at: Review into superannuation trustees' treatment of private equity asset - Canva.
