Future Super has reduced its fees on all of its investment options starting this month after the fund saw huge growth last year.
The fund said it had a 200% increase in new members compared to 2019.
Future Super chief executive, Kirstin Hunter, said: “There’s a long-held view that ethical funds are more expensive, however the fee reductions we’re announcing bring our balanced index fees to well-below the industry median.
“These lower barriers mean that more Australians will be investing in a future that they want to live in.”
The fund’s new fees were:
Investment Option |
Admin Fee % |
Admin Fee $ p.a. |
Investment Management Fee |
ICR |
Fee per $50,000 balance |
Balanced Index |
0.554% |
$93.60 |
0.20% |
0.12% |
$530.60 |
Balanced Impact |
0.554% |
$93.60 |
0.804% |
0.12% |
$832.60 |
Renewables Plus Growth |
0.554% |
$93.60 |
0.804% |
0.13% |
$837.60 |
Pension |
0.554% |
$93.60 |
0.20% |
0.12% |
$530.60 |
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A Balanced Index fund at $530 p.a. may below the industry median, but is pretty darn expensive for an indexed fund.