I am delighted to inform our members that the investment fees for our investment options will reduce on 1 August 2019!
Investment fees from 1 August will be:
|Option||New fee||Old fee|
For someone invested in the Growth option, this reduction equates to annual savings of about $103 for a $290,000 balance (the average account balance for AvSuper super members) or $213 for a $600,000 account balance (the average balance for an AvSuper income stream).
In accordance with our profit-for-member philosophy, we review our investment fees at least annually to ensure they remain competitive and represent a value for money to our members. By reviewing and managing our investment managers, including replacing some managers, we have been able to greatly reduce our investment costs so we can reduce fees for our members.
Happily, this year we’ve been able to reduce these fees as a result of our increasing scale and from negotiating improved pricing from some of our managers.
Executive Manager – Finance & Risk