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Future Super cuts fees
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.