https://www.theguardian.com/australia-news/2021/aug/31/thirteen-australian-superannuation-funds-fail-performance-test

Thirteen superannuation funds, including two associated with the Commonwealth Bank, that collectively hold the retirement savings of 1 million Australians have failed a new performance test, Australian Prudential Regulation Authority data released on Tuesday morning shows.

The funds, which manage $56bn in assets, will now have to write to their members informing them of the underperformance and inviting them to use an online super comparison tool run by the Australian Taxation Office.

freediver wrote on Sep 3^rd, 2021 at 10:00pm:

https://www.theguardian.com/australia-news/2021/aug/31/thirteen-australian-superannuation-funds-fail-performance-test Thirteen superannuation funds, including two associated with the Commonwealth Bank, that collectively hold the retirement savings of 1 million Australians have failed a new performance test, Australian Prudential Regulation Authority data released on Tuesday morning shows. The funds, which manage $56bn in assets, will now have to write to their members informing them of the underperformance and inviting them to use an online super comparison tool run by the Australian Taxation Office.

How is this even possible. The stock market has been booming for so many years.

Super Nova wrote on Sep 6^th, 2021 at 2:22pm:

freediver wrote on Sep 3rd, 2021 at 10:00pm: https://www.theguardian.com/australia-news/2021/aug/31/thirteen-australian-superannuation-funds-fail-performance-test Thirteen superannuation funds, including two associated with the Commonwealth Bank, that collectively hold the retirement savings of 1 million Australians have failed a new performance test, Australian Prudential Regulation Authority data released on Tuesday morning shows. The funds, which manage $56bn in assets, will now have to write to their members informing them of the underperformance and inviting them to use an online super comparison tool run by the Australian Taxation Office. How is this even possible. The stock market has been booming for so many years.

Super funds are invested in a range of investment options, including cash and property.

They don't all invest 100% in shares.

Super Nova wrote on Sep 6^th, 2021 at 2:22pm:

freediver wrote on Sep 3rd, 2021 at 10:00pm: https://www.theguardian.com/australia-news/2021/aug/31/thirteen-australian-superannuation-funds-fail-performance-test Thirteen superannuation funds, including two associated with the Commonwealth Bank, that collectively hold the retirement savings of 1 million Australians have failed a new performance test, Australian Prudential Regulation Authority data released on Tuesday morning shows. The funds, which manage $56bn in assets, will now have to write to their members informing them of the underperformance and inviting them to use an online super comparison tool run by the Australian Taxation Office. How is this even possible. The stock market has been booming for so many years.

I expect the performance tests were relative to the relevant benchmark or peer group.

Lucky me, I'm with Australian Super - one of the best performers.  8-)

How do you know that?

greggerypeccary wrote on Sep 6^th, 2021 at 2:42pm:

Super Nova wrote on Sep 6th, 2021 at 2:22pm: freediver wrote on Sep 3rd, 2021 at 10:00pm: https://www.theguardian.com/australia-news/2021/aug/31/thirteen-australian-superannuation-funds-fail-performance-test Thirteen superannuation funds, including two associated with the Commonwealth Bank, that collectively hold the retirement savings of 1 million Australians have failed a new performance test, Australian Prudential Regulation Authority data released on Tuesday morning shows. The funds, which manage $56bn in assets, will now have to write to their members informing them of the underperformance and inviting them to use an online super comparison tool run by the Australian Taxation Office. How is this even possible. The stock market has been booming for so many years. Super funds are invested in a range of investment options, including cash and property. They don't all invest 100% in shares.

Generally members can choose their investment options, balanced is the default. I changed mine 100 percent to Aust shares about 3 months ago.

freediver wrote on Sep 10^th, 2021 at 6:38pm:

How do you know that?

he probably googled it.
https://www.superguide.com.au/comparing-super-funds/best-performing-super-funds

If you were able to manage those funds yourself, you would have access to about 2000 Australian managed funds (and a huge variety of other options) with double digit returns over 10 years. Not a single super fund from that list did, though there are plenty of super funds that do.

It was a top performer from a list of selected funds with mediocre performance.