Superannuation Performance Test Submission

19 April 2024

The Council’s position in this submission position is consistent with our past advocacy on this issue (namely, advocating for an alternative test that better measures and represents the performance of private capital as an asset class) and engages with the specific issues raised in the Consultation Paper (i.e. Performance Test Design Options, the Your Future Your Super regime, fees, the breadth of test cover, and failure consequences).

The Council believes Australia’s superannuation performance testing and transparency framework would be significantly improved by focusing directly on the overarching driver of member outcomes: risk-adjusted net returns. The Council believe that the current framework is overly focused on tangential issues such as implementation efficiency and investment fees. Instead, the test should be changed to compare funds’ abilities to generate strong risk-adjusted returns.

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INDUSTRY TO BUILD BETTER BUSINESSES

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