27 September 2023

QSuper gets a clean slate from APRA

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The results of the Australian Prudential Regulation Authority (APRA) MySuper performance test indicate QSuper, part of Australian Retirement Trust, continues to do well.

The MySuper performance test, which came into effect on 1 July 2021, was the second conducted by APRA under the Australian Government’s Your Future, Your Super reforms.

This year, APRA assessed 69 MySuper products on their performance (over a period of at least five years). They rated them against their objective benchmark that assesses investment performance, fees and costs.

A MySuper fund is usually the default superannuation product offered by superannuation funds to members.

APRA’s MySuper performance test applies to all default MySuper products and requires all funds that fail the test to advise their members of that fact.

Both of the Australian Retirement Trust’s MySuper products passed the APRA performance test.

Deputy Chief Investment Officer of the Australian Retirement Trust, Charles Woodhouse said the results were a pleasing outcome.

“Our two MySuper products passed APRA’s performance test again, which speaks to the strong commitment of our investments team to deliver to our members,” Mr Woodhouse said.

APRA stated that five products across the industry failed the test this year, including four that failed for the second time.

A further five products that failed last year’s performance test passed this year.

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