Christian Super to reduce fees
Christian Super will reduce its overall fees by $1.4 million per annum from 1 October, 2020.
The fund said the savings were a result of some asset allocation changes, reduced investment manager fees, and reduced indirect costs for most investment options.
It said the typical Christian Super member with $50,000 invested in the fund’s MySuper product would pay $55 less per year in fees after the reduction.
The fund also said it had reviewed the way investment fees and costs were allocated between its 15 investment options to better reflect the underlying costs of each option. While the combined investment fee and indirect cost ratio would decrease for the majority of the fund’s members, a few would see a small increase.
Christian Super chief executive, Ross Piper, said: These overall fee reductions reflect our strong ongoing focus on process improvement and efficiency as we seek to serve our members well, investing their money in line with Christian values and beliefs. We’re pleased to be able to pass on savings from efficiency gains to our members at this time”.
Recommended for you
Unveiling its performance for the calendar year 2024, AMP has noted a “careful” investment in bitcoin futures proved beneficial for its superannuation members.
SuperRatings has shared the median estimated return for balanced superannuation funds for the calendar year 2024, finding the year achieved “strong and consistent positive” returns.
The second tranche of DBFO reforms has received strong support from superannuation funds and insurers, with a new class of advisers aimed to support Australians with their retirement planning.
The financial services technology firm has officially launched its digital advice and education solution for superannuation funds and other industry players.
