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Hostplus reduces Choiceplus fees
Hostplus has reduced fees on its direct investment option Choiceplus.
The fund said it had recently reviewed its fees and increased investment limits on a range of securities.
Launched in 2013, Choiceplus allowed Hostplus members the ability to take a more active role in the investment and management of their super by investing in shares, ETFs, term deposits, and listed investment companies.
From 1 April, the platform administration fee had reduced from $180 per annum to $168.
The minimum brokerage fee had reduced from $19.95 (plus GST) to $13.00 while the maximum one had decreased from 0.11 per cent of trade value (plus GST) to 0.10 per cent.
Finally, the transaction account fee had declined from 0.90 per cent of cash holdings to 0.10 per cent.
It also increased the allowable investment limits on a range of ETFs and LICS available that would see the limit per security increase from 20 per cent to 50 per cent.
Hostplus chief executive, David Elia, said: “We pride ourselves on being able to realise and pass on the benefits of our scale to our members, resulting in product and service improvements like this, that give our members more control and choice in the way they manage their investments, and to be able to do so at a highly competitive cost.
“As well as maintaining our cost leadership in this increasingly popular investment option, we’ve also actively listened to our members in terms of what they want and need from a product like Choiceplus. I’m pleased to say we’ve acted on our members’ requirements and been able to use our increasing scale to enhance Choiceplus.”
AUTHOR
Laura Dew
Laura Dew is editor at Super Review. Prior to joining SR, she spent five years working at Investment Week in the UK covering asset and wealth management.
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