Fees & charges
As an Accountants Super member, you will really benefit from lower fees and charges. As an industry fund, we try to keep them as low as possible.
This can make a big difference to the amount of money you receive in retirement!
| Management costs - As at 30 June 2011 |
|
| Administration fee Calculated weekly and deducted from your account monthly. |
$2.00 per week |
| Plus Calculated and deducted from your account quarterly. |
0.5% p.a. of account balance |
| Plus member protection fee Deducted weekly from gross earnings of each option before unit prices are set. |
0.1% p.a. of assets |
| Withdrawal fee Deducted from your account when your withdrawal is processed or your account is closed. |
$42.50 |
The table below sets out the estimated investment fees for each investment option.
| Investment fees - As at 30 June 2011 | |
| Investment option | Fee (% p.a.) |
Pre-mixed options |
|
| Aggressive | 0.41 |
| Growth | 0.38 |
| Moderate | 0.32 |
| Stable | 0.26 |
Asset class options |
|
| Australian Shares | 0.39 |
| Overseas Shares | 0.39 |
| Property | 0.59 |
| Bonds | 0.23 |
| Cash | 0.07 |
These charges are effectively paid indirectly by members as they are deducted from the underlying investment returns of each investment manager. 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 unit prices are determined by the Trustee for each Investment Option and before unit prices 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.
| Investment managers with performance fee conditions - As at 30 June 2011 | |||||
| Manager | Asset Class | Performance fee basis | Calculation period | Low | High |
| Cooper Investors AE Fund | Australian Shares | 10% of performance in excess of benchmark. | Monthly (3 Year rolling high water mark) | Nil | 0.60% |
| AMP Capital Shopping Centre Fund | Property | 15% of the outperformance of the fund if the 3 year rolling equity internal rate of return of the fund exceeds the 3 year rolling average of the Australian 10 year Commonwealth Treasury Bond yield plus 3.5% pa, adjusted to assume performance fees have been paid. Total fees capped at 1%pa (exc GST) | Rolling 3 Years | Nil | 0.90% |
| AMP Capital Wholesale Office Fund | Property | 15% of the outperformance of the fund if the 3 year rolling equity internal rate of return of the fund exceeds the 3 year rolling average of the Australian 10 year Commonwealth Treasury Bond yield plus 3.5% pa, adjusted to assume performance fees have been paid. Total fees capped at 1%pa (exc GST) | Rolling 3 Years | Nil | 0.90% |
| Charter Hall CPOF | Property | Up to 15% of performance between 11% and 13% p.a. and 20% of performance in excess of 13% p.a. |
Rolling 3 Years | Nil | 0.66% |
| K2 Advisors | Alternative Assets |
15% of outperformance over Bank Bill Rate + 0.15% pa | Annually | Nil | 1.44% |
| Macquarie RMBS | Alternative Assets | 15% of outperformance over Bank Bill Rate + 0.15% pa | Quarterly | Nil | 0.62% |
| Hastings UTA | Private Capital | 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) | Nil | 1.51% |
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 a reliable indicator 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 contact us.
More information
For more information about the fees and charges that apply, refer to the Product Disclosure Statement.
About the Fund
Accountants Super is a specialised super fund for accounting professionals. Plan your future and safeguard your assets with our flexible, reliable solutions. With years of experience providing for accountants, we have all the specialised knowledge and expertise to help you manage your super easily and effectively.
Our straight–forward accountants superannuation product gives you the benefit of low fees, flexible options and affordable insurance cover. For years we have been providing accountants with quality services, timely and accurate information. We pride ourselves on our personalised service.
If you’ve ever changed jobs or locations, you may need to consolidate your super. Accountants Super can help with this, so you don’t miss out on any lost or unclaimed super funds. Build a stronger future and take the stress out of your superannuation. Read more
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Service Providers
Accountants Super is a division of Professional Associations Super, an industry fund with over 445,000 members across Australia and over $1.5 billion of funds under management. Professional Associations Super divisions include SMARTpension, Australian Enterprise Super, and RecruitmentSuper
Find us by searching: Accountants Super, Accountants Super Fund, Accountants Superannuation, Accountants Superannuation Fund, Superannuation For Accountants, Superannuation Contributions, Superannuation Co-Contribution
This information is of a general nature only and does not take into account your personal objectives, situation or needs. Before making a decision about Accountants Super, you should consider your own requirements and the relevant Product Disclosure Statement. Contact us for a copy.