Because the mega-Industry Super funds are able to siphon millions from their member's fund accounts to spend on TV advertising and "intrafund advice" salesreps.

Reply to article

For original story, Click Here.

Wouldn't have anything to do with Spaceship's appalling performance of 8.79% p.a. versus a vanilla fund like AustralianSuper at 10.72% for both their high growth options now, would it ?

Or Spaceship's fees of $78 + 0.720% pa (management only), investment fees of 0.196% versus AustralianSuper of $52 + 0.1% pa and between 0.06 to 0.52% pa (respectively) ?

Disclaimer - no, I don't work for AustralianSuper, but hold an account there. I'm sure that other industry funds would return similar numbers. If Gen Z likes to pay higher fees for lower performance, go for broke (sic). The whole point of a smaller fund is that you're supposed to be more nimble and outperform the bigger ones but these fail badly it seems.

Reply to article

For original story, Click Here.