Revealed: How much an industry fund pays in fees

23 January 2020
| By Mike |
image
image
expand image

Just how much major industry superannuation funds pay in investment fees to fund managers and others has been laid bare to a Parliamentary Committee.

Industry fund, Hostplus has revealed that it paid a total of just over $229 million in fees, with the greatest portion related to the fund’s exposure to Australian equities and international equities.

The superannuation fund revealed it spent $193,199,647 on management fees and $35,805,660 on performance fees.

The superannuation revealed the fee expenditure when providing an answer to a question on notice asked during hearings by the House of Representatives Standing Committee on Economics inquiring into the banks and superannuation funds.

NSW Liberal member, Jason Falinski had asked who had been the largest receiver of management fees paid by the company.

Taking the question on notice, Hostplus chief executive, David Elia said the fund had some active Australian equities managers which had performed exceptionally well.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest developments in Super Review! Anytime, Anywhere!

Grant Banner

From my perspective, 40- 50% of people are likely going to be deeply unhappy about how long they actually live. ...

1 year 3 months ago
Kevin Gorman

Super director remuneration ...

1 year 3 months ago
Anthony Asher

No doubt true, but most of it is still because over 45’s have been upgrading their houses with 30 year mortgages. Money ...

1 year 3 months ago

New data has shown a progressive deterioration in risk appetite among instos even prior to Donald Trump’s latest round of tariffs....

9 hours ago

UniSuper has reached “peak investment” in US assets and is now preparing to reassess its exposures amid ongoing sharemarket volatility....

9 hours 41 minutes ago

AustralianSuper is poised to cement its leadership in the superannuation landscape over the next five years, with fresh research forecasting a sharp shift in the sector’s...

11 hours ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND