SIGNIFICANT EVENT NOTICE
Lower administration fee (Pension) from 1 September 2022
As part of our continued focus to provide great value ethical investments, we've reduced the dollar-based administration fee for all of our Superannuation, TTR and Pension accounts from 1 September 2022.
These reduced fees may apply to your account with Australian Ethical Super.
You can find details of the full list and explanation of our fees and costs on our super fees page and pension fees page.
Administration fee prior to 1 September 2022
Administration fee after 1 September 2022
Changes to investment fees and costs disclosure from 1 September 2022
From 1 September 2022, indirect costs (including performance-based fees, where relevant) will be included in investment fees and costs. The Indirect Cost Ratio (ICR) will no longer be shown separately.
Transaction costs will also be displayed separately from 1 September, these costs relate to the buying and selling of assets, for example brokerage and settlement costs. These costs are not new and were previously reflected in the overall investment related fees and costs. Transaction costs are estimates only and are subject to change.
These changes are in line with ASIC’s regulatory guide 97- Disclosing fees and costs in PDS’s and periodic statements.
Pension - Investment Fees and Indirect Cost Ratio (ICR) disclosed prior to 1 September 2022
| Defensive | 0.20% | 0.00% |
|---|---|---|
| Conservative | 0.63% | 0.04% |
| Balanced (pension) | 0.67% | 0.07% |
| Growth | 0.99% | 0.09% |
| International Shares | 0.89% | 0.00% |
| Australian Shares | 1.20% | 0.00% |
Pension - Investment Fees and Costs, and transaction costs disclosed from 1 September 2022*
| Defensive | 0.20% | 0.00% |
|---|---|---|
| Conservative | 0.67% | 0.00% |
| Balanced (pension) | 0.74% | 0.04% |
| Growth | 1.07% | 0.00% |
| International Shares | 0.89% | 0.00% |
| Australian Shares | 1.20% | 0.00% |
*This table is designed to show how ongoing annual fees and costs including investment fees, indirect costs and transaction costs will be displayed from 1 September 2022 and is not designed to show member activity related fees and costs such as buy/sell spreads which will be unchanged in their presentation. All fees and costs are available on our fees page.
Conservative option asset allocation changes from 1 September 2022
From 1 September 2022 the conservative option will have an increased exposure to unlisted property and alternative assets, and a reduced exposure to Interest-bearing investments & cash. A comparison of the asset allocation for this option before and post these changes is provided below. These changes are being made to allow greater flexibility in the way the assets are managed in this option and to slightly increase the options growth asset exposure.
Current disclosure
| Australian and New Zealand Shares | 7.5% | 0 - 20% |
|---|---|---|
| International Shares | 7.5% | 0 - 20% |
| Interest bearing & Cash | 75% | 20 - 100% |
| Alternatives | 5% | 0 - 15% |
| Property | 5% | 0 - 15% |
Disclosure from 1 September 2022
| Australian and New Zealand Shares | 7.5% | 0 - 20% |
|---|---|---|
| International Shares | 7.5% | 0 - 20% |
| Interest bearing & Cash | 70% | 20 - 100% |
| Alternatives | 7.5% | 0 - 15% |
| Property | 7.5% | 0 - 15% |
Unlisted property assets
Unlisted property holdings are investments in property assets. The unlisted property asset class is included in the fund’s portfolio for its income and growth characteristics, in addition to providing diversification benefits.
Alternative assets
Alternative assets cover a wide range of investments that are not considered traditional assets. Some examples include Private Equity, Venture Capital and Infrastructure. These types of investments provide diversification because they aren’t strongly correlated with the performance of traditional assets.
Here to help
If you have questions about these changes please call our helpline on 1800 021 227, Monday to Friday.