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Might also depend on the information provided by funds. The ratings firms themselves have difficulties in providing consistent and comparable data across firms and funds (and some useful data for comparative analysis is not collected by ratings firms). Without the ratings firms, then it would be impossible to compare (and trust) data provided by individual fund managers. Good performance needs to be acknowledged and rewarded by inflows from superannuants,
Despite the considerable amount of information released by fund managers and by ratings firms, the financial literacy of Australians is disappointingly low.