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 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(%)
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.