Editorial policy
Underly publishes information about people's money, so how a page got here matters as much as what it says. This is the standard every page is held to.
Underly reports what is in a fund, what you hold through it, and what a statement adds up to. It does not recommend, rate, rank by desirability, or suggest an action. Nothing on the site takes any individual's circumstances into account.
Figures come from the issuer, the exchange or the ATO — the organisation that published the fact — rather than from another site that reported it. Each page names its source and the date that source was published.
Fund pages are generated from the data spine rather than written by hand. Pages that are generated say so. Automation is used to compile published facts accurately at scale, never to manufacture opinion or filler.
No issuer pays to be included, excluded, ordered differently, or described in particular terms. Underly is funded by subscriptions to its paid modules.
Explanatory pages carry a byline linking to the author's credentials. Where a page is generated, the publisher named on the About page remains accountable for it.
When a figure is wrong we fix the source data and the pages that read from it, rather than restating it quietly. Material corrections are noted on the page they affect.
There is a real line between telling someone what they own and telling them what to do about it. Underly stays on the first side of it deliberately — not as a disclaimer, but as the design of the product.
That means no buy, sell or hold language; no "best" or "top" framing that implies a recommendation; no projections presented as outcomes; and no page that answers "should I?". Where a reader needs that answer, the right source is a licensed financial adviser or a registered tax agent, and we say so.
Seraco Pty Ltd does not hold an Australian Financial Services Licence. Underly publishes factual information about financial products; it does not provide financial product advice or recommendations, and nothing on it takes your objectives, financial situation or needs into account.
Refreshed automatically as issuers publish. Each refresh is validated before it can replace what is live; a file that fails validation is quarantined and the previous good data stays up.
Reviewed at least annually, and whenever the underlying rules change — ATO label definitions in particular are checked against the current income year's instructions.
Reviewed annually, and republished whenever what it describes changes.
Tell us what looks wrong and where you saw it. We check the figure against the primary source; if we are wrong, we fix the data and the pages built on it, and note the correction where it is material. Get in touch, or read how we source our data.