The Australian Prudential Regulation Authority (APRA) has accepted an enforceable undertaking from Strategic Capital Superannuation Services, a Perth-based trustee of Strategic Capital Superannuation Fund. The regulator is investigating the affairs of the fund in order to give a better picture of its financial position and establish whether any of its members are at risk.

The fund has about 500 members and $24 million in assets.

APRA views enforceable undertakings, which effectively “freeze” the company being investigated, as an efficient way of addressing specific weaknesses in a superannuation fund.