POWERED BY MOMENTUM MEDIA
Funds that resubmitted YFYS performance test data
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
Recommended for you
A member body representing some prominent wealth managers is concerned super funds’ dominance is sidelining small companies in capital markets.
Earlier this month, several Australian superannuation funds fell victim to credential stuffing attacks, which saw a small number of members lose more than $500,000.
Small- to medium-sized funds have become collateral damage in an "imperfect" model for super industry levies, a financial institution has said.
Big business has joined the chorus of opposition against the proposed Division 296 tax.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
90.28 3 y p.a(%)
2
GAM LSA Private Shares AU I
37.08 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.44 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.12 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
28.28 3 y p.a(%)
