The country’s corporate regulator has warned that a near tripling of the size of unlisted investments poses risks to the wealth of ordinary people because the sector’s growth has come without the same requirements to clearly disclose fees, performance and the value of assets as public markets have.
The Australian Securities and Investments Commission’s chairman, Joe Longo, said it was time for a national discussion on the rise of the so-called private capital market, which the regulator estimates has swelled to some $150 billion in assets. Public markets are worth more than $5 trillion.
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