POWERED BY MOMENTUM MEDIA
Christian Super to reduce fees
Christian Super will reduce its overall fees by $1.4 million per annum from 1 October, 2020.
The fund said the savings were a result of some asset allocation changes, reduced investment manager fees, and reduced indirect costs for most investment options.
It said the typical Christian Super member with $50,000 invested in the fund’s MySuper product would pay $55 less per year in fees after the reduction.
The fund also said it had reviewed the way investment fees and costs were allocated between its 15 investment options to better reflect the underlying costs of each option. While the combined investment fee and indirect cost ratio would decrease for the majority of the fund’s members, a few would see a small increase.
Christian Super chief executive, Ross Piper, said: These overall fee reductions reflect our strong ongoing focus on process improvement and efficiency as we seek to serve our members well, investing their money in line with Christian values and beliefs. We’re pleased to be able to pass on savings from efficiency gains to our members at this time”.
Recommended for you
Jim Chalmers has defended changes to the Future Fund’s mandate, referring to himself as a “big supporter” of the sovereign wealth fund, amid fierce opposition from the Coalition, which has pledged to reverse any changes if it wins next year’s election.
In a new review of the country’s largest fund, a research house says it’s well placed to deliver attractive returns despite challenges.
Chant West analysis suggests super could be well placed to deliver a double-digit result by the end of the calendar year.
Specific valuation decisions made by the $88 billion fund at the beginning of the pandemic were “not adequate for the deteriorating market conditions”, according to the prudential regulator.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.56 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.06 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.81 3 y p.a(%)
