Your Future Your Super Report | Money And Investing | |
The Australian Prudential Regulatory Authority (APRA) investigated 86 of the MySuper organizations as per the new legislation imposed in November 2020. Here, they conducted a basic benchmark performance test. To ensure these funds were up to scratch given they hold around $900B of everyday Australian’s retirement funds. Scarily, 13 out of the 86 funds failed to meet industry standards. Regardless, leaving over 1 million Australians affected. And equated to $56B of funds performing below par. To put this into perspective, APRA’s ‘benchmark’ return on Australian Equities over an 8-year period had to average 7.88% net of fees. In order to fail this particular asset class. These MySuper funds would need to underperform by greater than 0.5%. And leaving the average 8-year return to anything less than 7.33%. As what is a record high stock market. | |
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| Target State: All States Target City : All Cities Last Update : Apr 10, 2024 5:02 AM Number of Views: 94 | Item Owner : Andrew Baxter Contact Email: Contact Phone: (None) |
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