Latest MySuper heatmap highlights best and worst performers

For the third year running, the Australian Prudential Regulation Authority (APRA) has applied heat to poor performing super funds with the release of its latest ‘heatmap’.

This year’s heatmap compares 69 MySuper products on investment performance, fees and costs, and sustainability. To help fund comparison, this year’s heatmap also includes each product’s result under APRA’s annual performance test.

However, multi-sector Choice investment options have been given a year to cool their heels. After being included for the first time last year, APRA has deferred its follow-up Choice heatmap until 2023.

How does the heatmap work?

After collating information from MySuper funds, the heatmap uses a graded colour system to visually compare how each fund performs from white (alright) to burnt red (likely to burn a hole in members’ retirement savings).

If you are a member of a MySuper fund or simply an interested bystander, you can access APRA’s MySuper Product Heatmap here.