Infrastructure entities: Improving disclosure for retail investors

This guideline is about listed and unlisted infrastructure entities and their advisers.

It sets out ASIC’s benchmarks and disclosure principles for improved disclosure to retail investors to help investors understand and assess infrastructure entities and make better informed investment decisions.

Investment in infrastructure assets is important for the maintenance of critical systems and services for our community and has significance for capital flows in Australia.

In relation to advertising, ASIC has advised that issuers of infrastructure entities should ensure that:

  • there is disclosure that investors risk losing some or all of their principal investment;
  • returns on the investment are only quoted if they are accompanied by prominent disclosure that there is a risk the investment may achieve lower than expected returns;
  • statements in advertisements are consistent with all corresponding disclosures on that subject in the PDS or prospectus; and
  • if an investment rating is used, it is properly explained.