There’s a new kid on the superannuation block with Mercer and Kogan.com announcing this morning that they will together launch a new “no frills, ultra-low fee” super fund, Kogan Super.
In an announcement to the ASX, the two companies said the new company would leverage the ecommerce site’s digital efficiency to be one of the cheapest options in the market.
“In an industry where scale and cost efficiencies count, this new alliance will enable Kogan to create value at scale through their trusted online brand and huge customer base,” Mercer chief executive, Ben Walsh, said.
Under Mercer and Kogan.com’s agreement, the former would provide investment management, administration and customer service for the fund while the latter would manage branding and marketing services.
The launch date was slated for early 2019, with further details to be released closer to that time.
Australia’s second largest super fund has confirmed it is expanding its presence in the UK following significant investment in the region.
A member of the super fund has approached ASIC to investigate potentially misleading or deceptive representations by UniSuper regarding the holdings of its sustainable portfolios.
The median growth fund delivered 1.9 per cent in March, adding to the “stunning” rally that has seen super funds gain 11 per cent since November.
Vanguard has affirmed its support for the current super performance test, emphasising the importance of keeping the process straightforward.
Add new comment