POWERED BY MOMENTUM MEDIA
Hostplus drops pension fee
Industry superannuation fund, Hostplus, will drop its pension fee to $4.50 per week (down from $7.50) from 1 April, 2020.
The fee decrease would save members $156 a year.
Hostplus chief executive, David Elia, said: “Unlike a straightforward, fixed, weekly dollar-based fee, asset-based fees which are a percentage of your account’s balance, are often charged in addition to fixed fees by many funds and, and typically increase as your account balance does.
“Hostplus is pleased to be able to continue to innovate and leverage its scale benefits and cost disciplines for the benefit of members.
“Our super account fee freeze, and now a significant reduction in our pension administration fee, continue to support our market-leading performance in both fees and net return performance.”
Recommended for you
The $16 billion fund has teamed up with a retirement income product specialist to give its members more confidence to spend in retirement.
The super fund-owned institutional investment manager has appointed an internal candidate as its next head of operations.
The $91 billion fund has doubled down on its data security, alongside enhancing its investment strategy, with two key appointments.
The Albanese government has appointed Jim Craig as a member of the Future Fund Board of Guardians for a five‑year term.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
90.28 3 y p.a(%)
2
GAM LSA Private Shares AU I
37.08 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.44 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.12 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
28.28 3 y p.a(%)
