POWERED BY MOMENTUM MEDIA
(May-2003) Industry funds’ low charges
The latest KPMG Public Offer Superannuation Fund Index shows that industry funds charge the lowest administration fees compared to their retail counterparts, with Australian Primary Superannuation Fund emerging the cheapest, with a fee of just 0.18 per cent.
Runner up Retail Employees Superannuation Trust (REST) comes in at 0.20 per cent, and the Australian Retirement Fund (ARF), HESTA, Superannuation Trust of Australia and Sunsuper were ranked equal third with 0.26 per cent.
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A member body representing some prominent wealth managers is concerned super funds’ dominance is sidelining small companies in capital markets.
Earlier this month, several Australian superannuation funds fell victim to credential stuffing attacks, which saw a small number of members lose more than $500,000.
Small- to medium-sized funds have become collateral damage in an "imperfect" model for super industry levies, a financial institution has said.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
93.34 3 y p.a(%)
2
Global X GlobalX FANG+ ETF
37.15 3 y p.a(%)
3
GAM LSA Private Shares AU I
33.96 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
29.68 3 y p.a(%)
5
Plato Global Alpha A
28.73 3 y p.a(%)
