Cost of product for 1 year
The cost of product gives a summary calculation about how ongoing annual fees and costs can affect your superannuation investment over a 1-year period.
This assumes a balance of $50,000 at the beginning of the year1.
| Before tax rebate2 | After tax rebate3 | |
|---|---|---|
| $298 | $253 | |
| $543 | $473 | |
| $618 | $540 | |
| $718 | $626 | |
| $728 | $631 | |
| $648 | $552 | |
| $778 | $662 |
1 The cost of product information assumes a balance of $50,000 at the beginning of the year (additional fees such as a buy–sell spread may apply; refer to the Fees and costs summary for the relevant superannuation product or investment option). You should use this figure to help compare superannuation products and investment options.
2 The cost of product for each investment option assumes you hold that investment option only since the amount includes the annual dollar-based administration fee of $68 which applies to your account regardless of your balance. If you hold more than one investment option, this dollar-based fee will be apportioned across your investment options. It will not be charged separately for each investment option.
3 Net cost of product is after a tax rebate relating to certain fees and costs.
How are fees calculated?
This gives an example of how the fees are calculated:.
Annual fees for Balanced (Accumulation) on a $50k balance
Before tax rebate:
$198
Admin fees
$68 & 0.26% p.a
+
$405
Investment fees & costs
0.81% p.a
+
$15
Transaction costs
0.03% p.a
=
$618
Total fees & costs
~1.24% of balance
After tax rebate:
$168
Admin fees
$57.8 & 0.22% p.a
+
$357
Investment fees & costs
0.71% p.a
+
$15
Transaction costs
0.03% p.a
=
$540
Total fees & costs
~1.08% of balance
This is an example of the ongoing annual fees and costs for this option over a one-year period. Additional fees and costs may apply. Exit fees do not apply. Read our Super Product Disclosure Statement (PDS) for more details.
What are the fee details?
Below is an overview of the fees and costs that may be charged to your super account with Australian Ethical.
You need to read our Super Product Disclosure Statement for the full list and explanation of fees and costs, as well as examples of how these fees and costs affect your investment and account balance.
Please see the Notices page for details of all historic updates.
Ongoing annual fees and costs4
Administration fees and costs
Dollar based fees are deducted from your account monthly. Percentage administration fees are paid from the Fund’s assets prior to unit prices being calculated. The percentage administration fee you pay is calculated on your account balance. Net amount is after a tax rebate. See the Additional Information Booklet - Super for more information.
| Amount P.A. | $68 plus 0.26% of your account balance |
|---|
Investment fees and costs
Investment fees are accrued daily and paid from the Fund’s assets. Fees are calculated as a percentage of the daily net asset value of each option. The investment fee you pay will depend on the investment options you are invested in.
| Investment option | Amount P.A.^~ |
|---|---|
| Defensive | 0.20% |
| Conservative | 0.68% |
| Balanced (accumulation) | 0.81% |
| Growth | 0.99% |
| High Growth | 1.03% |
| International Shares | 0.89% |
| Australian Shares | 1.15% |
^ Investment fees and costs include indirect costs which were 0.14% p.a. for the Conservative option, 0.16% p.a. for the Balanced option, 0.15% for the Growth option and 0.12% for the High Growth option for the 12 month period ending 30 June 2024.
~ Investment fees and costs includes an amount of 0.01% for the Balanced, Growth and High Growth options for performance fees. The calculation basis for this amount is set out under ‘Additional Information of fees and costs' in section 5 of the Additional Information Booklet.
Net transaction costs
Transaction costs are calculated at 30 June each year based on the previous 12 months.
| Investment option | Amount P.A. |
|---|---|
| Defensive | 0.00% |
| Conservative | 0.01% |
| Balanced (accumulation) | 0.03% |
| Growth | 0.05% |
| High Growth | 0.03% |
| International Shares | 0.01% |
| Australian Shares | 0.01% |
Member activity related fees and costs
Buy-sell spread**
Applied to the unit price before processing each buy and sell transaction.
| Investment option | Amount per transaction |
|---|---|
| Defensive | 0.00% |
| Conservative | 0.05% |
| Balanced (accumulation) | 0.05% |
| Growth | 0.15% |
| High Growth | 0.05% |
| International Shares | 0.05% |
| Australian Shares | 0.15% |
**The transaction costs incurred in the year to 30 June 2024 were fully recovered by the buy-sell spread except for the Australian Shares and Conservative options where 0.01% was not covered and the High Growth option where 0.02% was not recovered.
Switching fee
You may incur a buy-sell spread whenever units are bought or sold including by way of switching. However, you won’t be charged a switching fee in addition to the buy-sell spread.
| Amount P.A. | $0 |
|---|
Other fees and costs
Other fees and costs such as Insurance fees may apply. See ‘Additional explanation of fees and costs’ in Section 5 of the Additional Information Booklet.
4. If your account balance for a product offered by the Fund is less than $6,000 at the end of the Fund’s income year certain fees and costs charged to you in relation to administration and investments are capped at 3% per annum of the account balance. Any amount charged in excess of that cap must be refunded.
The fee relates to costs incurred by the trustee of the superannuation entity that are directly related to an activity of the trustee:
i. that is engaged in at the request, or with the consent, of a member; or
ii. that relates to a member and is required by law; and
iii. those costs are not otherwise charged as administration fees and costs, investment fees and costs, transaction costs, a buy sell spread, a switching fee, an advice fee or an insurance fee.
An administration fee is a fee that relates to the administration or operation of the superannuation entity and includes costs that relate to that administration or operation, other than:
(a) borrowing costs; and
(b) indirect costs that are not paid out of the superannuation entity that the trustee has elected in writing will be treated as indirect costs and not fees, incurred by the trustee of the entity or in an interposed vehicle or derivative financial product; and
(c) costs that are otherwise charged as an investment fee, a buy-sell spread, a switching fee, an activity fee, an advice fee or an insurance fee.
A fee is an advice fee if:
a. the fee relates directly to costs incurred by the trustee of the superannuation entity because of the provision of financial product advice to a member by:
i. a trustee of the entity; or
ii. another person acting as an employee of, or under an arrangement with, the trustee of the entity; and
b. those costs are not otherwise charged as administration fees and costs, investment fees and costs, a switching fee, an activity fee or an insurance fee.
A buy sell spread is a fee to recover costs incurred by the trustee of the superannuation entity in relation to the sale and purchase of assets of the entity.
An exit fee is a fee, other than a buy-sell spread, that relates to the disposal of all or part of a member’s interests in a superannuation entity.
Investment fees and costs are fees and costs that relate to the investment of the assets of a superannuation entity and includes:
a. fees in payment for the exercise of care and expertise in the investment of those assets (including performance fees); and
b. costs incurred by the trustee of the entity that:
i. relate to the investment of assets of the entity; and
ii. are not otherwise charged as administration fees and costs, a buy-sell spread, a switching fee, an activity fee, an advice fee or an insurance fee.
A switching fee for a MySuper product is a fee to recover the costs of switching all or part of a member’s interest in a superannuation entity from one class of beneficial interest in the entity to another.
A switching fee for a superannuation product other than a MySuper product, is a fee to recover the costs of switching all or part of a member’s interest in the superannuation entity from one investment option or product in the entity to another.
Transaction costs are costs associated with the sale and purchase of assets of the superannuation entity other than costs that are recovered by the superannuation entity charging buy-sell spreads.
A fee is an insurance fee if:
(a) the fee relates directly to either or both of the following:
(i) insurance premiums paid by the trustee, or the trustees, of a superannuation entity in relation to a member or members of the entity;
(ii) costs incurred by the trustee, or the trustees, of a superannuation entity in relation to the provision of insurance for a member or members of the entity; and
(b) the fee does not relate to any part of a premium paid or cost incurred in relation to a life policy or a contract of insurance that relates to a benefit to the member that is based on the performance of an investment rather than the realisation of a risk; and
(c) the premiums and costs to which the fee relates are not otherwise charged as an administration fee, an investment fee, a switching fee, an activity fee or an advice fee.