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Superannuation industry analytics, sourced from APRA

Fund-level measures from APRA's quarterly and annual collections — assets, returns, expenses, member metrics — served as published, with the source reference on every figure. Comparisons are of reported figures only; nothing is ranked or recommended. Modelled estimates are segregated and published with their error.

Quarterly fund-level statisticsJun 26

Whole-of-fund measures from APRA's quarterly collection, large funds. Metric definitions drafted, pending review.

Total fund investments

A$ · Jun 26

A$ billions

Source: APRA Quarterly fund-level superannuation statistics, Table 4

Estimated median account balance

A$ · Jun 26

A$ thousands

Source: APRA Quarterly fund-level superannuation statistics, Table 1

Median member age

Count · Jun 26

Source: APRA Quarterly fund-level superannuation statistics, Table 1

Total fund investments — quarterly series

Reported total fund investments, six largest funds per quarter since June 2022; remaining published large funds aggregated as “Other”.

AustralianSuperAustralian Retirement T…Aware SuperUnisuperHOSTPLUS Superannuation…Colonial First State Fi…Other

Source: APRA Quarterly fund-level superannuation statistics, Table 4

Reported asset allocation — large funds

Each fund's reported investments by asset class · quarter ending Jun 26. APRA publishes this table for large funds only. Class definitions are drafted from APRA's column headers, pending review.

EquityFixed incomePropertyInfrastructureAlternativesCashUnclassified
AustralianSuper
$449.6bn
ART
$380.2bn
Aware Super
$252.4bn
UniSuper
$178.2bn
Hostplus
$162.9bn
CFS FirstChoice
$116.2bn
Cbus
$115.3bn
Rest
$113.5bn
HESTA
$110.6bn
MLC
$97.1bn
Asgard
$84.9bn
Mercer
$84.5bn
IOOF
$80.3bn
AMP North
$75.6bn

Source: APRA Quarterly fund-level superannuation statistics, Table 4

Active positions of the MySuper defaults

Each fund's MySuper default option: the actual asset allocation it disclosed in its own portfolio holdings disclosure (Dec 25) minus the benchmark allocation APRA publishes for the same product (Quarterly super product statistics, Table 8a, quarter ending Dec 25). Positive is an overweight. Asset classes are bucketed to make the two taxonomies comparable; which option is the MySuper default is a curated, sourced mapping — hover a bar for it. Funds with lifecycle MySuper products aren't shown: APRA's benchmark can't be tied to one lifecycle stage.

Percentage points vs benchmark

OverweightUnderweight

Differences of a point or two are ordinary rebalancing drift.

Source: Actual — fund s1017BB portfolio holdings disclosures, per-option asset allocation table · Benchmark — APRA Quarterly superannuation product statistics, Table 8a

MySuper default comparison

Actual asset allocation of two MySuper default options, class by class, from each fund's own portfolio holdings disclosure (Dec 25). The dashed line is the median across all 13 defaults shown above — the industry's centre, not a benchmark.

Per cent of option assets

AustralianSuperUniSuperMedian of shown defaults

Options “Balanced” and “Balanced”. The median is computed over the 13 MySuper defaults with a usable disclosure, not the whole industry.

Source: Fund s1017BB portfolio holdings disclosures, per-option asset allocation tables

Holdings look-through, cross-fund

Cross-fund look-through over 28 funds' portfolio holdings disclosures · as at Jun 26. Each bar is one holding, split by the funds that report it. Names merge only when a shared security id proves them identical or a reviewed synonym says so. Compiled from the disclosures funds publish on their own websites under s1017BB — not an APRA collection.

Commonwealth Bank of Australia
$79.0bn · 25f
IFM Investors
$57.3bn · 24f
National Australia Bank Ltd
$51.8bn · 26f
BHP Group Ltd
$42.3bn · 22f
Westpac Banking Corp
$40.2bn · 25f
Nvidia Corp
$28.3bn · 25f
Australia & New Zealand Banking Group Ltd
$24.3bn · 24f
Apple Inc
$22.8bn · 25f
State Street Global Advisors, Australia, Limited
$22.8bn · 5f
Alphabet Inc
$22.5bn · 25f
Microsoft Corp
$19.6bn · 25f
Macquarie Group Ltd.
$18.9bn · 26f
Rio Tinto Plc
$16.0bn · 24f
Amazon.Com Inc
$15.5bn · 24f
Qic Limited
$14.9bn · 10f
Taiwan Semiconductor Manufacturing Co Ltd
$14.7bn · 25f
Morgan Stanley Investment Management (Australia)
$13.6bn · 24f
Wesfarmers Ltd
$13.5bn · 25f
Macquarie Asset Management
$12.0bn · 6f
Australia And New Zealand Banking Group Limited
$11.7bn · 12f
AustralianSuperAware SuperARTCbusUniSuperCFS FirstChoiceHostplusRestMercerMLCCareSuperEquip

Source: Fund s1017BB portfolio holdings disclosures, asset tables (fund websites, latest half-year per fund)

External mandates by manager and asset class

The largest externally-managed mandates across the 18 funds whose disclosure format names the fund manager — each bar is one manager's mandates, split by the asset class the mandate sits in. Funds not shown may use external managers too; their format just doesn't say who. As at Jun 26.

Unlisted equityFixed incomeUnlisted propertyUnlisted infrastructureAlternatives
IFM Investors
$55.0bn
STATE STREET GLOBAL ADVISORS, AUSTRALIA, LIMITED
$18.9bn
QIC LIMITED
$14.9bn
Morgan Stanley Investment Management (Australia)
$11.0bn
State Street Global Advisors
$10.4bn
Blackrock
$9.6bn
MACQUARIE ASSET MANAGEMENT
$9.1bn
STEPSTONE GROUP
$8.1bn
MACQUARIE INVESTMENT MANAGEMENT GLOBAL LIMITED
$7.8bn
BlackRock Investment Management (Australia) Ltd
$7.7bn
PARTNERS GROUP AG
$7.6bn
BARINGS LLC
$6.6bn
STATE STREET INVESTMENT MANAGEMENT
$6.2bn
GLOBAL INFRASTRUCTURE PARTNERS
$6.2bn

Manager identities merge only what security ids or curated synonyms prove.

Source: Fund s1017BB portfolio holdings disclosures, asset tables (latest half-year per fund)

Modelledestimates — not APRA data

A theoretical model: each fund's reported asset allocation × listed market proxies implies a quarterly return — including the current quarter, before APRA publishes anything. These are computed estimates with known error, shown below; they are not reported figures and say nothing about any fund's actual performance.

Implied return, quarter to date Sep 26

Start-of-quarter allocation × proxy ETF returns · largest modelled funds · the current quarter is in progress: proxies priced to the latest close

Per cent

Validation against reported returns

Served model vs APRA's reported MySuper quarterly returns · 414 fund-quarters · MAE 1.9pp · corr 0.80 · fitted layers tested OOS, not better — details below

-5%-5%0%0%5%5%10%10%reported MySuper quarter (APRA) →modelled →

Source: Modelled estimates — allocation weights from APRA Quarterly fund-level superannuation statistics, Table 4, priced with listed ETF proxy returns; validated against APRA Quarterly MySuper statistics, Table 2a and Quarterly superannuation product statistics, Table 4a

Method, proxies and limitations — read before quoting anything above
Method: Baseline: implied quarterly return = start-of-quarter Table 4 leaf allocation weights × listed proxy total returns. Fitted layer: ridge on residuals from that baseline (so shrinkage pulls toward allocation×market, never toward a constant) against APRA-reported MySuper quarterly returns, λ chosen by leave-one-quarter-out correlation; plus a shrunk per-fund intercept anchored to reported expense ratios. Fund-quarters where allocation leaves explain <90% of reported investments are skipped, never imputed.
Fit: lambda 3 · intercept (annual drag) 0.8% · au_equity 0.977, intl_equity 0.96, fixed_income 0.998, property 0.989, infrastructure 0.993, alternatives 0.999, cash 1, property_lag 0.005, infrastructure_lag -0.002, alternatives_lag 0.001, unlisted_eq_lag 0.003 · 414 training pairs · leave-one-financial-year-out (lambda chosen by OOS error). Fund level: one shrunk per-fund intercept (mean residual × n/(n+1)); a full per-fund regression is not defensible on ≤3 FY observations per fund.
Targets: quarterly_mysuper.table_2a.net_return_rep_member_quarterly (to Sep 2023) · qsps.table_4a.net_return_rep_member_quarterly (MySuper products, from Mar 2025) · Dec 2023 – Dec 2024 quarters have no published target. Targets are the fund's MySuper representative-member return, not the whole fund; the FY whole-fund check below quantifies the difference.
Whole-fund FY check: compounded modelled quarters vs whole-fund annual returns — MAE 5.4pp · corr 0.158 · 241 fund-years (different measure: MySuper option ≠ whole fund).
Proxies: AAA.AX (BetaShares Australian High Interest Cash); DJRE.AX (SPDR Dow Jones Global Real Estate); IFRA.AX (VanEck FTSE Global Infrastructure (hedged)); VAF.AX (Vanguard Australian Fixed Interest); VAP.AX (Vanguard Australian Property Securities); VAS.AX (Vanguard Australian Shares (ASX 300)); VGAD.AX (Vanguard MSCI Index Intl Shares (AUD hedged)); VGS.AX (Vanguard MSCI Index Intl Shares (unhedged)); VIF.AX (Vanguard Intl Fixed Interest (hedged))
Limitations: Unlisted assets proxied by listed equivalents — no smoothing or lag. Alternatives proxied by a 50/50 global equity / bond blend. Proxy ETF fees included; fund-level fees and tax enter only via the fitted intercept. The fit is trained on very few financial years; betas are unstable. Prototype uses free Yahoo Finance data, not licensed index series.
Validation: The SERVED model is the parameter-free baseline (allocation × market) — its error needs no cross-validation because nothing is fitted. Ridge betas, lagged-proxy features and per-fund effects were all tested under leave-one-quarter-out CV against APRA's reported MySuper rep-member quarterly returns and did not beat the baseline (pooled and fund-effect figures shown); they are reported, not served. The FY figures compare compounded quarters against whole-fund annual returns — a different measure, kept as a sanity check.
Generated: 2026-09-16T00:14:15+00:00

Annual fund-level statisticsFY to Jun 25

APRA's annual collection — returns, expenses and balance-sheet measures for every regulated fund. The next financial-year release is published late in the calendar year.

Total assets

A$ · Jun 25

A$ billions

Source: APRA Annual fund-level superannuation statistics, Table 2a

One-year rate of return

Per cent · Jun 25

Per cent

Source: APRA Annual fund-level superannuation statistics, Table 3a

Five-year rate of return

Per cent · Jun 25

Per cent

Source: APRA Annual fund-level superannuation statistics, Table 2a

Cost per member account

A$ · Jun 25 · derived

A$

Source: APRA Annual fund-level superannuation statistics (cost per member computed by this site, not APRA-published)

Total assets — annual series

Reported total assets, six largest funds across annual releases; remaining entities aggregated as “Other”. Band thickness is reported assets in that year.

AustralianSuperAustralian Retirement T…Aware SuperUnisuperColonial First State Fi…Public Sector Superannu…Other

Source: APRA Annual fund-level superannuation statistics, Table 2a

Industry structure by total assets

Tile area is reported total assets · colour is the selected measure · masked funds greyed

Explore →

Source: APRA Annual fund-level superannuation statistics, Tables 2a & 3a

Cross-sectional comparison

One point per fund · area is total assets · dashed lines mark industry medians · axes selectable

Axes clipped to the 2nd–98th percentile for readability; 2 funds with extreme values fall outside the frame and are not shown.

Source: APRA Annual fund-level superannuation statistics, Table 2a (cost per member computed by this site, not APRA-published)

Methodology and data governance

Figures are ingested from APRA's published statistics through a registry-driven pipeline — no hand-typed numbers. A masked cell stays masked; it is never imputed or shown as zero. Derived measures are labelled as computed, not APRA-published. Every value on this site travels with the APRA reference it must be quoted with. Orderings describe reported figures; they are not assessments of fund quality.

Source: Australian Prudential Regulation Authority, CC BY 3.0 AU · general information, not financial advice.