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APRA releases quarterly MySuper statistics

Thursday 2 October 2014



The Australian Prudential Regulation Authority (APRA) has today released the first editions of an interim Quarterly MySuper Statistics report, for the quarters ending September 2013, December 2013, March 2014 and June 2014.

As at 30 June 2014, 93 registered superannuation entity (RSE) licensees offered a total of 116 MySuper products, and total assets held in MySuper products were $363.2 billion, representing 32 per cent of total RSE assets.

With these reports, APRA has released a selected feature article that provides an overview of key features of MySuper products, including return target, level of investment risk, fees and costs, assets and investments by asset class.

APRA Member Helen Rowell says the statistics provide a central source of information on MySuper products and support the broader transparency objectives of the Stronger Super reforms.

‘Users of the statistics should of course remember that long term performance is the key determinant of members’ retirement outcomes. As such, we recommend users exercise caution in drawing conclusions based on this interim performance data, which covers just four quarters.’

From the September 2014 edition of the report, APRA will expand the interim publication to include additional collected data items.

Publication of APRA’s Quarterly MySuper Statistics accords with APRA’s obligation to publish quarterly reports about MySuper products’ fees charged, costs incurred and net returns under section 348A of the Superannuation Industry (Supervision) Act 1993.

Copies of the Quarterly MySuper Statistics publications, for the quarters ending September 2013, December 2013, March 2014 and June 2014, and selected feature article, are available on the APRA website. 

Yesterday APRA released its Response to Submissions, available, on the proposed changes to its quarterly superannuation statistical publications and the confidentiality of data submitted to APRA. The Response to Submissions also provides further information on the development of the interim Quarterly MySuper Statistics report.

The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding $6 trillion in assets for Australian depositors, policyholders and superannuation fund members.