The blowtorch has been applied to bad MySuper superannuation funds with the launch of a new colour coded heat map from the superannuation fund regulator, APRA.
APRA’s heat map makes it easier for superannuation fund members to identify superannuation funds with high fees and chronically low investment returns.
There are currently around 100 MySuper funds but it can be complex to tell the good value, strongly performing funds from the poor funds. You need to work out the fees as well as compare the returns.
This is where APRA’s heat map colours help. The worst superfunds are coloured crimson through to yellow to pale yellow to white. The white colour indicates a MySuper product is performing around or above benchmarks for investment performance, fees and costs.