POWERED BY MOMENTUM MEDIA
Mercer and Kogan.com to launch new super fund
There’s a new kid on the superannuation block with Mercer and Kogan.com announcing this morning that they will together launch a new “no frills, ultra-low fee” super fund, Kogan Super.
In an announcement to the ASX, the two companies said the new company would leverage the ecommerce site’s digital efficiency to be one of the cheapest options in the market.
“In an industry where scale and cost efficiencies count, this new alliance will enable Kogan to create value at scale through their trusted online brand and huge customer base,” Mercer chief executive, Ben Walsh, said.
Under Mercer and Kogan.com’s agreement, the former would provide investment management, administration and customer service for the fund while the latter would manage branding and marketing services.
The launch date was slated for early 2019, with further details to be released closer to that time.
Recommended for you
The Future Fund’s CIO Ben Samild has announced his resignation, with his deputy to assume the role of interim CIO.
The fund has unveiled reforms to streamline death benefit payments, cut processing times, and reduce complexity.
A ratings firm has placed more prominence on governance in its fund ratings, highlighting that it’s not just about how much money a fund makes today, but whether the people running it are trustworthy, disciplined, and able to deliver for members in the future.
AMP has reached an agreement in principle to settle a landmark class action over fees charged to members of its superannuation funds, with $120 million earmarked for affected members.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
76.97 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
76.46 3 y p.a(%)
3
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
51.13 3 y p.a(%)
4
Global X GlobalX FANG+ ETF
45.15 3 y p.a(%)
5
Select Baker steel Gold Institutional
43.78 3 y p.a(%)
