POWERED BY MOMENTUM MEDIA
Vision Super reduces fees
Vision Super has reduced fees for members for the third time in two years as the fund has managed to take out $150 million in costs from the business.
The total fees on a $50,000 balance have now been cut from $488 to $463 for Super Saver (default) members.
The total fees on a $50,000 balance for Vision Personal – Sustainable balanced option have been cut from $238 to $223.
Fees on a $50,000 pension balance have been cut from $515 to $490.
The industry fund’s chief executive, Stephen Rowe, said: “At Vision Super, we’re always focused on getting the best possible retirement outcome for our members.
“We’re delighted to announce this further reduction in fees, which means more money for members’ retirements. We’re charging substantially less than some of the biggest funds in the country charge, and our returns speak for themselves.”
Recommended for you
The two funds have announced the signing of a non-binding MOU to explore a potential merger.
The board must shift its focus from managing inflation to stimulating the economy with the trimmed mean inflation figure edging closer to the 2.5 per cent target, economists have said.
ASIC chair Joe Longo says superannuation trustees must do more to protect members from misconduct and high-risk schemes.
Super fund mergers are rising, but poor planning during successor fund transfers has left members and employers exposed to serious risks.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
88.01 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
72.60 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
44.24 3 y p.a(%)
4
Pengana High Conviction Equities B
40.36 3 y p.a(%)
5
Pengana High Conviction Equities A
40.34 3 y p.a(%)
Obsession to be the cheapest.
Are members jumping ship to the 'cheapest'? I don't think that's what it is all about. Reducing fees 3 times in 2 years. Heat map obsessed? Keeping the regulator at bay? You wonder where all the gaps are if you are running that lean. Having a look at the Vision website and socials, not a lot of stuff that stands out regarding product (other than a bit of climate activism). Not even a webinar for members during COVID19.
At 10bn, with funds ramping up the merging process, you do wonder if they should be holding fees steady and investing in the fund.