Crescent Wealth Underperformance – Your Future Your Super
On 30 August 2023, APRA notified the Trustee of Crescent Wealth Superannuation Fund (ABN 32 144 560 172) that three of its products (Conservative, Balanced and Growth) had failed the annual performance test.
As required under relevant law, superannuation funds must notify members if they don’t meet an annual performance benchmark set by APRA.
Members will be able to compare the fees and returns of all MySuper and Choice products using the Australian Government’s YourSuper comparison tool. Go to ato.gov.au/yoursuper for further information.
What is the annual performance test?
APRA’s annual performance test assesses the performance of MySuper and Choice products over the last eight years taking into consideration investment performance, administration, investment and advice fees for a member with a $50,000 account balance. The test compares the returns other similar products delivered over the same period.
You can find out more about superannuation at moneysmart.gov.au.
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The information shown on this site is general only. It should not be relied upon for tax, legal or accounting advice. It does not consider any persons investment objectives, financial situation or particular needs. Before making an investment decision, you need to consider (with or without the assistance of an adviser) whether the information is appropriate to your needs, objectives and circumstances. You should obtain a copy of the relevant product disclosure statement and target market determination before making any financial decisions concerning these products or services. Past performance is not a reliable indicator of future performance, and future returns are not guaranteed. Use of the information contained on this page is governed by Australian law and is subject to the terms and conditions on this website. Equity Trustees Superannuation Limited (ABN 50 055 641 757) is the trustee of the Crescent Wealth Superannuation Fund (ABN 32 144 560 172).