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Most asset owners estimate that poor investment governance could increase portfolio costs by 1% or more annually, according to a joint report by KPMG and Frontier Advisors.
The working group will work alongside Treasury to evaluate the YFYS performance test. Super fund representatives as well as independent economists, academics and investment advisers will come togethe
After failing the superannuation performance test last year, Colonial First State brought in a global asset manager to advise on how to improve its super funds.
KPMG has examined the annual performance test and its impact on consolidation in the superannuation industry. With the results of APRA’s second MySuper performance test due for release soon, KPMG
While the annual Your Future, Your Super performance test is focused on stamping out underperformance, its impact on industry consolidation is likely already shifting, according to KPMG.