Kogan and Mercer have launched Kogan Super that seeks to offer Australians a low-fee index-based superannuation product.
In an announcement, the fund said it would provide members simplicity such as a short online joining process, easy digital account management, five simple investment options based on a member’s risk tolerance, and super account consolidation upon sign up.
The investment options included enhanced index growth, enhanced indexed conservative growth, indexed Australian listed property, indexed diversified shares, and cash.
The fund would also allow members to create a customised investment option by mixing from the five options, and default death and total and/or permanent disablement insurance for eligible members.
Kogan.com chief executive and founder, Ruslan Kogan, said: “More than ever, Australians are turning to low-cost super funds to ensure that their retirement savings aren’t being eroded over time by high fees.”
“By leveraging our digital capabilities and delivering the superannuation needs of Australians online, Kogan Super can substantially cut annual fees for account holders,” he said.
“Kogan Super provides a no-frills, low cost, index-based offering with low fees enabling Australians to invest and grow their hard-earned money for the future.”
The Association of Superannuation Funds of Australia has appointed a new director representing industry funds, among a number of other appointments in recent months.
The Association of Superannuation Funds of Australia has tapped an experienced public policy executive as head of policy and advocacy.
The firm has welcomed an experienced financial services executive, who helped establish Vanguard's superannuation business, as its new chief financial officer.
The $8.9 billion fund has tapped a fintech company headquartered in Rotterdam as investment performance consultant.
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