APRA efficiency take a look at outcomes – Monetary Recommendation Affiliation Australia
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Members ought to be conscious that purchasers will probably be contacted instantly in the event that they maintain investments in funds that didn’t meet the superannuation efficiency take a look at benchmarks. We encourage you to verify the detailed APRA results, which embrace Trustee Directed Merchandise for the primary time, to make sure the funding continues to be in the very best curiosity of your consumer. By 28 September 2023, fund members in failing merchandise will instantly obtain a prescribed discover from their fund setting out the truth that their fund/choice has failed and inspiring them to contemplate shifting.
The important thing outcomes of this 12 months’s outcomes embrace:
- 1 of 64 MySuper funds failed.
- 76 of 305 (25%) Wrap/Platform Trustee Directed Merchandise failed, representing $2.3bn of $19Bn of funds.
- 20 of 500 (4%) Grasp-trust Trustee Directed Merchandise failed, representing $1.7Bn of $341Bn.
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