Fees & discounts
Transparent fees
These are the administration and investment fees charged directly to your account1:
Investment option
Dollar-based admin fee p.a.
Percentage–based admin fee p.a.
Investment fee p.a.
Your balance under $1,0002
All options
=
$0
+
$0
+
$0
Your balance $1,000 and over
Balanced
=
$78
+
0.926%
+
0.063%
Growth
=
$78
+
0.926%
+
0.033%
High Growth
=
$78
+
0.926%
+
0.022%
1A buy/sell spread and investment transaction costs may also apply. However, these are not deducted directly from your account, but will be calculated for the fund as a whole, and charged via a reduction in the unit price. Refer to the Additional Explanation of Fees and Costs in the Reference Guide for more information.
Three examples
Let's assume you chose the High Growth investment option;
1: And your balance is $8002
Your fees
=
$0
+
$0
+
$0
Percentage-based administration fees and costs, and percentage-based investment fees are rebated back to members at the end of each month using your month end account balance.
2: Or your balance is $7,0002
Your fees
=
$78
+
$64.82
+
$1.54
3: Or your balance is $25,0002
Your fees
=
$78
+
$231.50
+
$5.50
These examples don’t include the extra reduction in fees from our loyalty discount program.
2 A buy/sell spread and transaction costs will apply to all accounts above zero. These costs are not charged directly to your account. Instead, they’re calculated for the fund as a whole, and then reflected in the unit price.
Fee cap for balances under $6,000.
By legislation, if your account balance at the end of the financial year is less than $6,000, fees relating to administration and investment are capped at 3% of your account balance. Any amount charged in excess of that cap will be refunded to your account.
Our loyalty discount program
We created a loyalty discount program to reduce fees for members who stay with the fund.
You will automatically be enrolled in the program as soon as your balance reaches $1,000. The discount reduces your percentage-based admin fee.
The loyalty discount program has seven membership levels, with the fee discounts increasing over time.
See the Reference Guide for details.
Loyalty discount membership levels
Here are the seven membership levels with their reduced percentage-based admin fee. The table also shows what your discount is, calculated from the full percentage-based admin fee;
Year
Level
% based Admin fee
Your discount calculated from the full % based Admin fee
Normal fee:
0.9260%
0%
1
Bronze
0.9075%
-2.00%
2
Bronze Plus
0.8893%
-3.96%
3
Silver
0.8715%
-5.89%
4
Silver Plus
0.8541%
-7.76%
5
Gold
0.8370%
-9.61%
6
Gold Plus
0.8203%
-11.42%
7
Platinum
0.8039%
-13.19%
Notes
The discount is calculated at each membership level as an additional 2% discount off your percentage-based admin fee.
In this table, for ease of display, the “percentage-based fee” column rounds the percentages displayed to 4 decimal places.
The “Your discount” column rounds the percentages displayed to 2 decimal places. The actual amounts can therefore differ very slightly as a result of this rounding.
The effect of the percent sign: It is important to remember that 0.92% is very different to 0.92. These numbers are 100 times different in size. When you add the “%” symbol, the number expressed as a decimal is 0.0092.
Percentage discounts off percentage-based fees can be confusing. Refer to the table to ensure you understand how the discount is calculated.