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 |
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.
A Balanced Index fund at $530 p.a. may below the industry median, but is pretty darn expensive for an indexed fund.
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