This technical note proves a simple mathematical relationship between the return on assets (ROA) of financial accounting standards and the return on investments (ROI) of investment performance standards. We show why this relationship is needed by users of APRA data to convert ROA to ROI for...

Investment performance studies of pension or mutual funds have overall been too statistically inconclusive to create definitive rankings to help investors make fund selection decisions. This paper presents an alternative approach based on comparing the pension or mutual fund firms themselves...

In the first paper, the lacklustre investment performance of Australian superannuation was attributed to the Retail sector. This second paper investigates potential explanations for this fact through an empirical attribution analysis of the impact of asset allocation, operational structure and...