AMP, Insignia, Bendigo products fail super performance test

AMP, Insignia Financial and Bendigo SmartStart are the only superannuation fund providers whose platform trustee-directed products (TDP) failed APRA's latest performance test.

- Karren Vergara

Only seven out of the 563 products that APRA tested failed in its latest assessment, a sharp decrease from the 37 failures recorded in the year prior.

This is the third consecutive year that Insignia and AMP have featured on the list since the test was introduced.

AMP's North Guardian Balanced Fund, North Guardian Growth Fund and North Guardian Moderately Defensive Fund have failed in the past and are closed to new members.

This is the first year, however, that the MyNorth Index Moderately Defensive option has failed.