Asset class options Australian Shares 0.41% p.a. Overseas Shares 0.33% p.a. Property 0.79% p.a. Bonds 0.24% p.a. Cash 0.05% p.a.
Deducted weekly from gross earnings of the option before unit prices are declared.
1 Other fees and costs may apply, such as activity fees and advice fees for personal advice. Refer to the Kinetic Smart Pension PDS for more information. 2 ICR includes estimated performance related fees and is subject to change from time to time. The ICR is calculated based on available information from underlying managers, taking into account the Fund's experience for the year ending 30 June 2016, the Fund's experience for the 6 months to 31 December 2016 and the Fund's investment portfolioas at 31 December 2016 (as the experience for the year to 30 June 2016 alone does not provide a reasonable estimate of the ICR).
Note: The above table shows fees charged to member for the investment options. Some expenses may also be paid from Fund reserves. Refer to the Kinetic Smart Pension PDS for more information.
Example - the growth investment option
Balance of $50 000
For every $50 000 you have in the investment option you will be charged $0 each year.
PLUS Administration fees
And, you will be charged $250 in administration fees each year.
PLUS Indirect costs for the investment option
And, indirect costs of $240 each year will be deducted from your investment.
EQUALS Cost of product
If your balance was $50 000, then for that year you will be charged fees of $490 for the investment option.
The table below sets out the buy/sell spread amounts for each investment option. A buy/sell spread is the difference between the purchase (buy) and sale (sell) unit price of an investment, when transactions are applied to your account. The spreads ensure that buy and sell investment costs (e.g. brokerage and stamp duty, etc.), are applied directly to the responsible member. It isn’t a direct fee to your account, but is included in the buy/sell unit price for each investment option applied at the time of the transaction.
Asset class options
These charges are effectively paid indirectly by members as they are deducted from the underlying investment returns of each investmentmanager. The total amount of investment related fees paid by a member is based on the amount invested in each investment option and deducted from the assets held on behalf of the fund before investment returns are determined by each Investment Manager and before unitprices are determined by the Trustee for each Investment Option.
Around 15% of the Fund's total assets are subject to potential payment of performance fees.
Performance fee basis
Cooper Investors AE Fund
10% of performance in excess of benchmark.
Monthly (3 Year rolling high water mark)
Charter Hall CPOF
Up to 15% of performance between 11% and 13% p.a. and 20% of performance in excess of 13% p.a. A total fee cap of 0.90% of gross assets applies (including the base management fee).
Rolling 3 Years
Westbourne Yield Fund No 1 / Westbourne Infrastructure Debt Fund
12.5% of any cumulative realised return over Bank Bill Rate + 4.0 p.a.
10% of any outperformance (realised gain) above the benchmark (benchmark: 10 year Commonwealth Bond yield +4%). Outperformance is determined only on the sale of any underlying asset where the sale proceeds exceed the aggregate of a benchmark return plus 4% in respect of the underlying asset after taking into account any aggregated realised underperformance.
Half-yearly (Continuous high watermark)
20% of the cumulative net return above the cumulative return hurdle. The return hurdle is 5.00% p.a. above the 10 Year Australian Commonwealth Government Bond Index.
Performance based fees are only charged by investment managers when performance hurdles are exceeded. The impact of performance based fees on the management costs applicable to an investment option depends on the amount invested with, and returns achieved by, the investment manager from year to year. In the same way that past investment returns are not reliable indicators of future returns, past performance fees are not a reliable indicator of future performance fees. Performance fee calculations can be very complex. If you would like more information about how performance fees work, please contactus.
For more information about the fees and charges that apply, refer to the ProductDisclosureStatement.