The validity and origin of the Australian Prudential Regulation Authority’s (APRA’s) heat map data is being questioned as superannuation fund executives digest the content of letters received from the regulator this week.
While APRA has made clear that the content of the letters should remain confidential, Super Review is aware of a number of superannuation fund executives who believe that the data utilised by APRA to develop the heat maps is either out-dated or inaccurate.
APRA deputy chair, Helen Rowell used last week’s Association of Superannuation Funds of Australia (ASFA) conference in Melbourne to detail the methodology underlying the heat maps and to foreshadow that funds would be receiving correspondence this week.
While the letters received by APRA provide the heatmap, they are not explicit about what particular data was used.
The letters make clear that the regulator is open to consultation on the issue.