The APRA has released the 2024 YFYS results for MySuper and Trustee Directed Products (TDP). The results for MySuper products were uneventful, with all 57 products passing. Similarly, all 398 non-platform TDP products passed. Although a few platform products did fail, these are generally legacy products that are closed to new members and difficult to wind down.
This release only includes pass or fail outcomes. A more detailed report, expected around November, will provide the actual performance results. We plan to conduct an analysis once the detailed results are available to identify any interesting trends, beyond the apparent fact that most providers now understand how to pass the test.
MySuper performance test – August 2024
MySuper products
- Total – 57
- Pass – 57 (100%)
- First time fail – 0
- Repeat fail^ – 0 (0%)
Member accounts*
- Total – 15.7m
Total assets
- Total – $1,081.6bn
Assets and Member Accounts are as at 30 June 2024.
* Members may hold more than one account so the number of member accounts likely overstates the number of members.
^ Closed to new members.
Trustee directed products (TDP) non-platform performance test – August 2024
TDP non-platform products
- Total – 398
- Pass – 398 (100%)
Member accounts*
- Total – 3.9m
Total assets
- Total – $366.2bn
Assets and Member Accounts are as at 30 June 2024.
* Members may hold more than one account so the number of member accounts likely overstates the number of members.
^ Closed to new members.
Trustee directed products (TDP) platform performance test – August 2024
TDP platform products
- Total – 192
- Pass – 155 (80.73%)
- Fail – 10 (5.21%)
- Repeat fail^ – 27 (14.06%)
Member accounts*
- Total – 172.6k
- Pass – 155.5k (90.08%)
- Fail – 3k (1.98%)
- Repeat fail^ – 14k (7.94%)
Total assets
- Total – $18.8bn
- Pass – $17.0bn (90.41%)
- Fail – $298.4m (1.59%)
- Repeat fail^ – $1.5bn (8.01%)
Assets and Member Accounts are as at 30 June 2024.
* Members may hold more than one account so the number of member accounts likely overstates the number of members.
^ Closed to new members.
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