Fees & charges

As an Australian Enterprise 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 fees - As at 30 June 2011
Administration fee Calculated weekly and deducted from your account monthly.	$1.55 per week
Expense recovery fee This fee is discretionary and may be deducted from investment earnings before they are applied to your account at the end of the year.	Up to 0.25% p.a. of account balance
Withdrawal fee Deducted from your account when your withdrawal is processed or your account is closed.	$30

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.

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 + 1.0% 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.

Fees & charges

Pre-mixed options

Asset class options

More information