SMSF vrs Member direct or similiar industry fund option

AustralianSuper Members Direct is quite a good platform, they have recently introduced two LICs (Argo and AFI), and have a reasonable range of ETFs as well as ASX300 shares.

I believe the 0.12% fee is on the balance of the cash holdings in Members Direct, not the balance of the investments.

You do need to have 20% allocated outside of Members Direct in AustralianSuper's other funds, and there are some restrictions on the maximum percentage investment you can do into a ETF/Share, but quite reasonable.

Overall, would consider AustralianSuper's members direct option has a lot of features like an SMSF without the hassle of an SMSF if only investing in Shares/ETFs. If Members Direct was too much work, then would just revert to their Mixed or Do-it-yourself funds.

 

1% advisor fee, then the MER and wrap account fees get it up over that 2.5% mark. Crazy stuff!

 

Right......I thought that .12% sounded to good to be true, wonder what they charge on holdings invested.....best get hold of a PDS. Cheers!

 

From my understanding and direct experience the fees in Members Direct include the Yearly Admin fee of $395 / yr, brokerage, and the 0.12% on cash balance - that’s about it. There is no overall portfolio balance fee.

Also note that 20% must be maintained in AusSuper’s regular funds and hence there is a weekly admin fee (around $1.50 per week) plus the MER on the funds themselves.

Other fees can be for insurances if you have them.