Once again we have APRA making a goose of themselves. Out right performance is not a measure in any sense of the work without a clear understanding of the risk measures @play.
it is bordering on infantile to suggest otherwise - I have clients that don't give a rip what their return is other than their money is safe. And being manged by a grown-up as distinct from morally bankrupt shyster. Without knowing what the risk-return metrics are - and the individual client's expectations these are nothing more than Ivory tower --"we know what's best for you" - for example - when the client says they want a balanced fund - they are not in the game of semantics and obfuscation - they want an equal mix of transparent defensive assets and clearly transparent growth assets. not a sliding 80/20 mix set by a politically active and left-leaning investment committee.