Business
APRA’s Heatmaps see low-performing superannuation funds to quit the industry – The New Daily
Financial regulator APRA has boosted the performance of MySuper funds by forcing 11 out of 47 underperformers to leave the industry over the past year.
Financial regulator APRA has boosted the performance of MySuper funds, with 11 out of 47 underperforming funds exiting the market over the past year under scrutiny generated by its product Heatmaps.
APRA is also reviewing eight underperforming funds to see if their trustees have breached obligations to members, which could result in prosecution.
In its latest MySuper Product Heatmap released on Friday, the regulator reported that 71 per cent of MySuper members were paying less in fees and charges…
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