Three out of the 40 superannuation funds that made data resubmissions failed the prudential regulator’s Your Future, Your Super performance test.
In answering a question on notice by Labor’s Dr Andrew Leigh, the Australian Prudential Regulation Authority (APRA) published the list of MySuper products that made material data resubmissions in relation to the performance test.
Three funds that made a resubmission – AvSuper Growth (MySuper), Colonial First State FirstChoice Employer Super, and CommonwealthBank Group Super Accumulate Plus Balanced – failed the inaugural performance test.
List of MySuper products that made material data resubmissions in relation to the performance test from 1 June 2021
Source: APRA
Michael Lovett, who left the investment firm just three months after launching its Vanguard Super offering, has taken up a chief executive role at an Australian asset manager.
The Central Bank of Ireland has granted the approval of Equity Trustees’ exit from its Irish operations, with the transaction expected to be complete on 30 April.
Super returns continued to climb in March, raising hopes of delivering double-digit returns by June depending on the performance of this next quarter.
The dedicated super fund for emergency services and Victorian government employees is under fire for unpaid entitlements to transport employees, which could exceed $40 million.
Add new comment