Future Super has reduced its fees on all of its investment options starting this month after the fund saw huge growth last year.
The fund said it had a 200% increase in new members compared to 2019.
Future Super chief executive, Kirstin Hunter, said: “There’s a long-held view that ethical funds are more expensive, however the fee reductions we’re announcing bring our balanced index fees to well-below the industry median.
“These lower barriers mean that more Australians will be investing in a future that they want to live in.”
The fund’s new fees were:
Investment Option |
Admin Fee % |
Admin Fee $ p.a. |
Investment Management Fee |
ICR |
Fee per $50,000 balance |
Balanced Index |
0.554% |
$93.60 |
0.20% |
0.12% |
$530.60 |
Balanced Impact |
0.554% |
$93.60 |
0.804% |
0.12% |
$832.60 |
Renewables Plus Growth |
0.554% |
$93.60 |
0.804% |
0.13% |
$837.60 |
Pension |
0.554% |
$93.60 |
0.20% |
0.12% |
$530.60 |
Amid a challenging market environment, three super fund CIOs have warned against ‘jumping at shadows’.
The professional body is calling for the annual performance test to transition to a two-metric test, so it better aligns with the overarching duty of super fund trustees to act in the best financial interests of their members.
AustralianSuper, Rest, and HESTA agree on the need to retain and enhance the test, yet they differ in their perspectives on the specific areas that warrant further refinement.
Australia’s second-largest super fund has confirmed it is expanding its presence in the UK following significant investment in the region.
A Balanced Index fund at $530 p.a. may below the industry median, but is pretty darn expensive for an indexed fund.
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