Christian Super has announced fees reduction, effective 1 July, which will see a decrease of between five to 10 basis points for all the fund’s diversified options, but fees for the low-cost Ethical Index Shares and Ethical Cash options will remain unchanged.
The firm said it had reduced fees for the third time in two years as a part of its strategy to provide ‘’faith-aligned superannuation products and outcomes”.
The annual fees and costs for a Christian Super member with $50,000 invested in the default My Ethical Super option were reduced from $645 to $610, contributing to an overall decrease of nearly 15% in the last two years.
“In a context where operating cost pressures are increasing across the industry, Christian Super is pleased to be able to deliver another fee reduction for our members,” Christian Super’ chief executive, Ross Piper said.
“This outcome has been achieved through strong investment and member growth, coupled with close engagement with our providers to deliver improved and streamlined services.”
Michael Lovett, who left the investment firm just three months after launching its Vanguard Super offering, has taken up a chief executive role at an Australian asset manager.
The Central Bank of Ireland has granted the approval of Equity Trustees’ exit from its Irish operations, with the transaction expected to be complete on 30 April.
Super returns continued to climb in March, raising hopes of delivering double-digit returns by June depending on the performance of this next quarter.
The dedicated super fund for emergency services and Victorian government employees is under fire for unpaid entitlements to transport employees, which could exceed $40 million.
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