POWERED BY MOMENTUM MEDIA
Vision Super to lower member fees
In a year in which fees have been under the spotlight, Vision Super has announced that it will lower its administration and investment fees following saving $150 million over the last 4.5 years by cutting costs.
The change would see the asset fee component of administration fees cut from 20 bps to 18 bps, and investment fees decreased on most options. The default balanced growth option would go from 88 bps to 68 bps, 19 bps below the industry average.
Announcing the cut, Vision Super chief executive, Stephen Rowe, said that the fund had put a lot of effort into lowering fees over the last few years.
“We’ve had a relentless organisational focus on cost downs, including renegotiating contracts, replacing our ageing bespoke administration system, and reducing costs on the investment side including by reducing the number of investment managers from 68 in January 2013 to 53 today, and moving some of our investments to passive portfolios,” he said.
Recommended for you
The super fund’s Future Saver High Growth option delivered an 11.9 per cent return for the financial year 2024–25, on the back of a diversified portfolio and actively managed investment strategy.
HESTA has delivered a 10.18 per cent return for its MySuper Balanced Growth option in the 2024–25 financial year, marking the third consecutive year of returns above 9 per cent for the $80 billion industry fund’s default investment strategy.
Sally McManus, secretary of the Australian Council of Trade Unions (ACTU), commented on the proposal after former prime ...
Strong performance across domestic equities and infrastructure assets has seen the fund achieve solid returns for the 2024-25 financial year.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
92.15 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
53.24 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
43.15 3 y p.a(%)
4
DomaCom Shoreline North Coogee
36.26 3 y p.a(%)
5
GAM LSA Private Shares AU I
35.87 3 y p.a(%)
