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    Testing times for trustees

    Dec 01, 2021 4 minutes

    Q WHAT HAPPENS TO FUNDS THAT FAIL THE NEW MYSUPER PERFORMANCE TEST, AND WILL MEMBERS BE BETTER OFF AS A RESULT?

    Like defeated Roman generals, failed MySuper products know what to do. The seeds of the biggest changes to superannuation in its history were planted in 2021 when the results of the first super performance test on MySuper products were released.

    Out of the 76 MySuper products assessed, 13 failed. It was not without controversy. The performance test only looks at returns. Everyone knows that investment comes with risk. Performance is therefore not a single number measured by the return over a period of time; it is a holistic concept based on returns, volatility and other risk measures. Funds that passed the test may well

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