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Are APRA’s heatmaps in social isolation?
Rollover offers a big shout out to the girls and boys at the Australian Prudential Regulation Authority (APRA), particularly those involved in the superannuation funds heatmaps exercise.
Given the investment fall-out from the COVID-19 pandemic, Rollover is wondering what sort of colours are showing up the heatmaps of all those funds who were focussing on growth rather than capital preservation.
Rollover knows that APRA has been communicating with a number of superannuation funds seeking regular updates regarding their liquidity in the face of high levels of switching and, of course, the hundreds of thousands of members who have contacted the Australian Taxation Office (ATO) about drawing down $10,000 in hardship early access to their accounts.
Given all of the above, the question is whether APRA has time to work on its heatmaps and, if it does, what will they look like given what represents rapidly-changing circumstances and the need to factor in membership demographics.
Rollover hears tell it could be the back end of 2021 before the APRA team feel brave enough to undertake another heatmap exercise.
AUTHOR
The Rollover
Rollover is a jaded hack who joined the staff of Super Review nearly two decades’ ago and never managed to summon the energy to leave. Known throughout the superannuation industry as a power-luncher and gossip, Rollover spends his time humouring fund managers, eavesdropping at conferences, dozing through briefings and looking for his next free meal.
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