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MySuper Heatmap - metric definitions

The table below provides the details of the metrics in the MySuper Heatmap, including definitions, the data sources used to calculate the metrics, and the APRA statistical publications where data items used to calculate the metrics are published. Detailed information on the methodology, including formulae for metrics, can be found in the Methodology paper - MySuper Heatmap.   

Level

Metric

Definition

Data source

Data published in

MySuper  Strategic growth asset allocation as at 30 June 2021 The allocation to growth assets as at 30 June 2021 based on strategic asset allocation data reported to APRA and a consistent definition of growth and defensive assets used for this analysis only. See Methodology paper - MySuper Heatmap for further details. Strategic Asset Allocation (SAA)
SRF 533.0 Item 1
Quarterly MySuper Statistics 
MySuper Your Future, Your Super Performance Test performance metric The numeric result of a MySuper product's performance in the Your Future, Your Super Performance Test. The performance test consists of two parts:
• an assessment of the value added through implementation of the product's investment strategy; and
• an assessment of administration and advice fees, costs and taxes charged to a representative member with a $50,000 account balance over the previous financial year (“RAFE”). 
'SAA'

SRF 702.0 Item 4.1 Column 1

SRF 702.0 Item 2.3 Column 2

SRF 702.0 Item 2.5 Column 2

SRF 702.0 Item 3.3 Column 2

SRF 702.0 Item 3.5 Column 2

SRF 533.0 Item 2.1

MySuper Performance Test Results
MySuper Your Future, Your Super Performance Test Pass/Fail indicator The result of a MySuper product's performance in the Your Future, Your Super Performance Test. If a product’s combined result is -0.50% or lower, the product fails the performance test. As above for Your Future, Your Super Performance Test performance metric MySuper Performance Test Results
MySuper Net Investment Return (NIR) p.a. - 3 year, 5 year and 7 year The annualised geometric average of the net investment returns (gross returns net of investment-related fees, costs and taxes) for the three, five or seven year period. SRF 702.0 Item 4.1 Column 1 Quarterly MySuper Statistics 
MySuper NIR relative to Simple Reference Portfolio p.a. - 3 year, 5 year and 7 year Three, five or seven year NIR against the three, five or seven year annualised return of a Simple Reference Portfolio (a simple, low-cost, liquid portfolio, risk matched to the respective MySuper product's / lifecycle stage’s growth / defensive exposure). See Methodology paper - MySuper Heatmap for more details of the Simple Reference Portfolio.  'SAA'

'3, 5 or 7 year Net Investment Return'

'Investment indices' 

Quarterly MySuper Statistics 
MySuper NIR relative to SAA Benchmark Portfolio p.a. - 3 year, 5 year and 7 year Three, five or seven year NIR against the three, five or seven year annualised return of a benchmark portfolio based off the MySuper product's / lifecycle stage's reported SAA. See Methodology paper - MySuper Heatmap for more details of the SAA Benchmark Portfolio.  'SAA'

'3, 5 or 7 year Net Investment Return'

'Investment indices' 

Quarterly MySuper Statistics 
MySuper Net Return ($50,000 rep member p.a.) - 3 year, 5 year and 7 year The annualised geometric average of the net returns (gross returns net of all fees, costs and taxes) for the three, five or seven year period for a representative MySuper member. '3, 5 or 7 year Net Investment Return'

Administration fees and costs
SRF 702.0 Item 2.1, Item 2.2

Administration-related tax expense / benefit
SRF 702.0 Item 2.4

Advice fees and costs
SRF 702.0 Item 3.1, Item 3.2

Advice-related tax expense / benefit
SRF 702.0 Item 3.4

Quarterly MySuper Statistics 
MySuper Administration fees disclosed (% of account balance) A fee within the meaning given in s. 29V(2) of the SIS Act, gross of tax, calculated as a percentage of account balance.

For products that have disclosed their fees and costs under new RG 97 fee disclosure requirements, the Heatmap’s ‘administration fees’ metrics uses ‘administration fees and costs’ disclosed in their Product Disclosure Statement.

SRF 703.0 Item 1 Quarterly MySuper Statistics 
MySuper Total fees and costs disclosed
(% of account balance)
The sum of the indirect cost ratio, investment fees and administration fees disclosed, gross of tax, calculated as a percentage of account balance, with respective meanings given in cl. 104(1) of Schedule 10 to the Corporations Regulations, s. 29V(3) of the SIS Act, and s. 29V(2) of the SIS Act. Excludes activity fees.

For products that have disclosed their fees and costs under new RG 97 fee disclosure requirements, the Heatmap’s ‘total fees and costs’ metrics uses the ‘administration fees and costs’, ‘investment fees and costs’, and ‘transaction costs’ disclosed in the product’s Product Disclosure Statement.

'Administration fees disclosed'

Investment fees disclosed (for single strategy products)
SRF 703.0 Item 1

Indirect cost ratio
SRF 703.0 Item 2

Investment fee levels for lifecycle products
SRF 703.0 Item 4

Product Disclosure Statements (for lifecycle products)

Quarterly MySuper Statistics 
RSE RSE adjusted total accounts growth rate (3 year average) The average annual percentage change in member accounts averaged over the three year period, excluding Successor Fund Transfers (SFTs) and account consolidations.  Member accounts at the beginning of reporting period
SRF 610.1 Item 1 Column 1

New member accounts, of which: Successor fund transfers
SRF 610.1 Item 2.2 Column 1

Member accounts at the end of the reporting period
SRF 610.1 Item 4 Column 1

Account closure by Consolidation of accounts, and Successor fund transfer
SRF 610.1 Item 5 Column 2

Annual
Fund-level Superannuation Statistics
RSE RSE Net Cash Flow Ratio (3 year average) Members' benefits flows in less members' benefits flows out as a percentage of cash flow adjusted net assets averaged over the three year period, excluding SFTs. Members' benefits flows in
SRF 330.0 Item 1.1, Item 1.2, Item 1.3, Item 1.5, Item 1.6, Item 1.11, Item 1.8, Item 13

Members' benefits flows out
SRF 330.0 Item 2.1.1, Item 2.1.2, Item 2.2, Item 2.4, Item 2.6, Item 14

Cash flow adjusted net assets
SRF 320.0 Item 21, 'Members' benefits flows in', 'Members' benefits flows out'

Annual
Fund-level Superannuation Statistics
RSE RSE Net Rollover Ratio (3 year average) RSE rollovers in less rollovers out as a percentage of cash flow adjusted net assets averaged over the three year period, excluding SFTs. 'Cash flow adjusted net assets'

Inward rollovers
SRF 330.0 Item 1.8

Outward rollovers
SRF 330.0 Item 2.2

Annual
Fund-level Superannuation Statistics

For more information

Email MemberOutcomes@apra.gov.au or mail to

Senior Manager Member Outcomes
Australian Prudential Regulation Authority
GPO Box 9836, Sydney NSW 2001