Revealed: How much an industry fund pays in fees

Jason-Falinski/superannuation/fees/David-Elia/hostplus/superannuation-funds/super-funds/industry-funds/equities/australian-equities/international-equities/

23 January 2020
| By Mike |
image
image
expand image

Just how much major industry superannuation funds pay in investment fees to fund managers and others has been laid bare to a Parliamentary Committee.

Industry fund, Hostplus has revealed that it paid a total of just over $229 million in fees, with the greatest portion related to the fund’s exposure to Australian equities and international equities.

The superannuation fund revealed it spent $193,199,647 on management fees and $35,805,660 on performance fees.

The superannuation revealed the fee expenditure when providing an answer to a question on notice asked during hearings by the House of Representatives Standing Committee on Economics inquiring into the banks and superannuation funds.

NSW Liberal member, Jason Falinski had asked who had been the largest receiver of management fees paid by the company.

Taking the question on notice, Hostplus chief executive, David Elia said the fund had some active Australian equities managers which had performed exceptionally well.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months 3 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months 4 weeks ago

ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm....

1 week 4 days ago

The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered....

2 weeks 3 days ago

ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test....

3 weeks 1 day ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND