Choice Heatmap - metric definitions
The table below provides the details of the metrics in the Choice Heatmap, including definitions, the data sources used to calculate the metrics, and the data items used to calculate the published metrics. Detailed information on the methodology, including formulae for metrics, can be found in the Methodology paper - Choice Heatmap.
| Level | Metric | Definition | Data source | Data published in |
|---|---|---|---|---|
| Choice investment pathway | Strategic growth asset allocation | The allocation to growth assets based on strategic asset allocation data provided to APRA and a consistent definition of growth and defensive assets used for this analysis only. See Methodology Paper for further details. | SRS 550 | Quarterly Superannuation Product Statistics |
| Choice investment pathway | Net Investment Return (NIR) p.a. 3 year, 5 year and 8 year | The annualised geometric average of the net investment returns (gross returns net of investment-related fees, costs and taxes) for the three, five or eight-year period. | SRS 705.1 | Quarterly Superannuation Product Statistics |
| Choice investment pathway | NIR relative to SAA Benchmark Portfolio p.a. 3 year, 5 year and 8 year | Three, five or eight-year NIR against the three, five or eight-year annualised return of a benchmark portfolio based off the underlying investment option's reported SAA. See Methodology Paper for more details of the SAA Benchmark Portfolio. | SRS 705.1, SRS 550 | Quarterly Superannuation Product Statistics |
| Choice investment pathway | NIR relative to Simple Reference Portfolio p.a. 3 year, 5 year and 8 year | Three, five or eight-year NIR against the three, five or eight-year annualised return of a Simple Reference Portfolio (a simple, low-cost, liquid portfolio, risk matched to the respective underlying investment option’s growth / defensive exposure). See Methodology Paper for more details of the Simple Reference Portfolio. | SRS 705.1, SRS 550 | Quarterly Superannuation Product Statistics |
| Choice investment pathway | Administration fees disclosed (% of account balance) | A fee within the meaning given in s. 29V(2) of the SIS Act, gross of tax, calculated as a percentage of account balance. Sum of administration and advice fees and costs for a standard fees and costs arrangement. | SRS 706 | Quarterly Superannuation Product Statistics |
| Choice investment pathway | Total fees and costs disclosed (% of account balance) | The sum of administration, advice, investment and transaction fees and costs calculated as a percentage of account balance, with respective meanings given in cl. 104(1) of Schedule 10 to the Corporations Regulations, s. 29V(3) of the SIS Act, and s. 29V(2) of the SIS Act. Excludes member activity fees. Based on a standard fees and costs arrangement. | SRS 706 | Quarterly Superannuation Product Statistics |
| RSE | RSE adjusted total accounts growth rate (3 year average) | The average annual percentage change in member accounts averaged over the three year period, adjusted for Successor Fund Transfers (SFTs) and account consolidations. | SRS 610.1 | Annual Fund-level Superannuation Statistics |
| RSE | RSE Net Cash Flow Ratio (3 year average) | Members' benefits flows in less members' benefits flows out as a percentage of cash flow adjusted net assets averaged over the three year period, adjusted for Successor Fund Transfers (SFTs) and fund consolidations. | SRS 330.0, SRS 320.0 | Annual Fund-level Superannuation Statistics |
| RSE | RSE Net Rollover Ratio (3 year average) | RSE rollovers in less rollovers out as a percentage of cash flow adjusted net assets averaged over the three year period, adjusted for Successor Fund Transfers (SFTs) and fund consolidations. | SRS 330.0 | Annual Fund-level Superannuation Statistics |
For more information
Email DataAnalytics@apra.gov.au or mail to
Senior Manager, Superannuation Strategic Insights
Australian Prudential Regulation Authority
GPO Box 9836
Sydney NSW 2001