Well we're certainly in the final stretch of the implementation of the Stronger Super and MySuper reforms, there are still quite a few issues left to work out.  So three key ones really centre around disclosure; first of all the portfolio holdings disclosure regime is yet to come into effect and we're likely to see either a wind back or a substantial change to that regime and there's some hope in the industry that we'll feel – we'll see a greater balance between the legitimate need for further disclosure and the burn that that places on funds to collect and publish that information.  The other two are the product choice dashboard requirements which there is a real question mark over whether they will be implemented and if so in exactly what form they will and thirdly the implementation of the new fees and costs disclosure rules that will apply from 1 July this year that are coming but there's still certainly some issues the funds are working through in terms of working out which bucket the different fees and costs they have are placed into the fees and costs table.

So what should funds be doing to get themselves ready for 1 July?

It's actually quite a difficult question, I think on the fees and cost disclosure it's quite simple, we may see further guidance from ASIC before 1 July but the assumption should be that we're not going to and so our funds should be working through now exactly what goes into what bucket and there's plenty of work that needs to go into that thinking process.  On the other two portfolio holdings disclosure and the product choice dashboards there's a little bit more difficult simply because we don't know what the final rules will be come 1 July, but that said I think particularly our portfolio holdings disclosures funds can and in fact must be doing everything that they need to be doing now so that if the rules are in place investments that are currently being made are set up in a way that allows them to comply with the rules.

Some good tips there, Geoff thanks so much for joining us.

No problem thank you.