Annual performance test data published by the Australian Prudential Regulation Authority (APRA) identifies underperforming superannuation and trustee-directed products based on strict benchmark metrics. Recent performance reviews flagged consecutive and first-time product failures across several institutional platforms, including specific options under the Wealth Personal Superannuation and Pension Fund (such as the North Guardian Balanced, Growth, and Moderately Defensive funds), the Bendigo Superannuation Plan (including the Bendigo Balanced Wholesale and High Growth Index funds), alongside multi-active growth and geared offerings managed across Oasis and Retirement Portfolio Service platforms. Regulatory authorities mandate that continuously failing products must close to new member allocations to protect retirement savings.