Investment Centre
Investment Manager Fees and Buy and Sell Spreads
Investing incurs fees, taxes and charges. These expenses, including investment managers' fees, are deducted from the assets held on behalf of Accountants Super before investment returns are determined by each Investment Manager and before unit prices are determined by the Trustee for each Investment Option.
The expenses are reflected in each Investment Option's asset values and unit prices, and in the investment returns credited to members' balances and are therefore indirectly borne by members.
The difference between the buy and sell unit price (if any) reflects transaction charges (for example brokerage) for buying and selling assets. This is typically expressed as a percentage. It is not a fee paid to Accountants Super or the Trustee and is used to ensure the approximate costs of entering, exiting and transacting in Accountants Super are borne by the relevant account holder. However, it is an additional cost to members.
The following table outlines the Investment Manager fees and buy and sell spreads for each Investment Option.
| Investment Option | Investment Manager Fees (per annum) |
Buy Spread | Sell Spread |
| Pre-mixed options | |||
| Aggressive | 0.39% - 0.60% |
0.19% |
0.19% |
| Growth | 0.36% - 0.54% |
0.16% |
0.16% |
| Moderate | 0.30% - 0.42%
|
0.15% |
0.15% |
| Stable | 0.26% - 0.34% |
0.10% |
0.10% |
| Single-asset class options | |||
| Australian Shares | 0.39% - 0.51% |
0.19% |
0.19% |
| Overseas Shares | 0.39% |
0.24% |
0.24% |
| Property | 0.61% - 1.09% |
0.25% |
0.25% |
| Bonds | 0.22% |
0.04% |
0.04% |
| Cash | 0.07% |
0% |
0% |
The information shown above is current at 31 March 2010.
These fees are based on each investment option’s strategic asset allocation and the investment management fee payable to each of the investment managers utilised at the date of publication of this document. An investment option's strategic asset allocation and investment management fee may change at any time. If this occurs the Trustee will provide members with advice of any known changes on this website.
Where a fee range is provided, this indicates that performance fees may be payable to some of the investment managers utilised if they achieve specified performance targets. Please refer to the Investment managers page for a list of the managers that charge performance fees.
