Fees reduced
We’ve reduced the fees members are charged with these reductions taking effect from 30 September 2020. As we continue to grow we are able to share the benefits of that growth with our members. This recent reduction will have a positive impact on the returns allocated to your account for the December 2020 quarter and thereafter.
We like to be transparent with our fees. We think you’ll agree that having one fee, and one fee only, is helpful in this respect. We won’t charge you any extras like performance fees when the Fund returns are particularly good. There are no hidden charges. And did you know that members aged under age 18 are not charged fees?
The new fees are:
Total annual fund charges
(% of Fund’s net assets value)
| Fund | Age 18 and over (new fee) | Age 18 and over (old fee) | Under age 18 | |||
| Growth Fund | 1.50% | 1.60% | 0% | |||
| Balanced Fund | 1.35% | 1.50% | 0% | |||
| Income Fund | 0.80% | 1.00% | 0% |
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