What you pay for
These costs show the total investment fees and costs attributed to each of our investment options (excluding the fees that are charged directly to your account) as a percentage of the total average net assets of the relevant investment option. These fees and costs reflect internal and external fees we incur when managing each option, including:
- fees charged by external investment managers
- fees charged by UniSuper Management Pty Ltd for assets we manage internally
- custody and valuation fees
- the cost of funding the operational risk reserve (which is a reserve that all superannuation funds are required to maintain)
- costs incurred within interposed vehicles, and
- implied costs when trading in OTC derivatives.
Investment fees and costs don't include account-based fees such as administration, switching or withdrawal fees. The actual amount we charge you each financial year depends on:
- the size of the fund
- the type of assets held
- the investment mandates we give to external investment managers
- the actual investment performance achieved, and
- any performance fees we pay.
Accumulation super
Below is a summary of our investment fees and costs for the year ended 30 June 2021. Accumulation 1 and Personal Account members can download the Fees and costs booklet (PDF, 1.3 MB) for the full details of our investment fees and costs, including how and when they are paid. DBD and Accumulation 2 members can download the product disclosure statement (PDF, 2.5 MB).| Option | Investment fees and costs (%)1 |
Transaction costs (%)1 | Total investment fees and costs and transaction costs (%)2 |
|---|---|---|---|
| Conservative | 0.33 | 0.03 | 0.36 |
| Conservative Balanced | 0.36 | 0.04 | 0.39 |
| Balanced | 0.39 | 0.06 | 0.44 |
| Sustainable Balanced | 0.32 | 0.05 | 0.38 |
| Growth | 0.45 | 0.12 | 0.57 |
| High Growth | 0.45 | 0.14 | 0.59 |
| Sustainable High Growth | 0.36 | 0.08 | 0.44 |
| Cash | 0.06 | 0.01 | 0.06 |
| Australian Bond | 0.13 | 0.02 | 0.15 |
| Diversified Credit Income | 0.32 | 0.02 | 0.34 |
| Listed Property3 | 0.21 | 0.16 | 0.37 |
| Australian Shares | 0.35 | 0.08 | 0.43 |
| International Shares | 0.48 | 0.09 | 0.57 |
| Global Environmental Opportunities | 0.33 | 0.14 | 0.46 |
| Australian Equity Income | 0.36 | 0.06 | 0.41 |
| Global Companies in Asia | 0.42 | 0.03 | 0.45 |
Flexi Pension
Below is a summary of our investment fees and costs for Flexi Pension (retirement phase and BIS). Read the Flexi Pension product disclosure statement (PDF, 3.1MB) for the full details of our investment fees and costs including how and when they are paid.| Option | Investment fees and costs (%)1 | Transaction costs (%)1 | Total investment fees and costs and transaction costs (%)2 |
|---|---|---|---|
| Conservative | 0.26 | 0.03 | 0.29 |
| Conservative Balanced | 0.29 | 0.04 | 0.32 |
| Balanced | 0.32 | 0.06 | 0.37 |
| Sustainable Balanced | 0.25 | 0.05 | 0.31 |
| Growth | 0.38 | 0.12 | 0.50 |
| High Growth | 0.38 | 0.14 | 0.52 |
| Sustainable High Growth | 0.29 | 0.08 | 0.37 |
| Cash | 0.06 | 0.01 | 0.06 |
| Australian Bond | 0.13 | 0.02 | 0.15 |
| Diversified Credit Income | 0.25 | 0.02 | 0.27 |
| Listed Property3 | 0.14 | 0.16 | 0.30 |
| Australian Shares | 0.28 | 0.08 | 0.36 |
| International Shares | 0.41 | 0.09 | 0.50 |
| Global Environmental Opportunities | 0.26 | 0.14 | 0.39 |
| Australian Equity Income | 0.29 | 0.06 | 0.34 |
| Global Companies in Asia | 0.35 | 0.03 | 0.38 |
Flexi Pension - transition to retirement
Below is a summary of our investment fees and costs for Flexi Pension - transition to retirement. Read the Flexi Pension product disclosure statement (PDF, 3.1 MB) for the full details of our investment fees and costs including how and when they are paid.
| Option | Investment fees and costs (%)1 | Transaction costs (%)1 | Total investment fees and costs and transaction costs (%)2 |
|---|---|---|---|
| Conservative | 0.33 | 0.03 | 0.36 |
| Conservative Balanced | 0.36 | 0.04 | 0.39 |
| Balanced | 0.39 | 0.06 | 0.44 |
| Sustainable Balanced | 0.32 | 0.05 | 0.38 |
| Growth | 0.45 | 0.12 | 0.57 |
| High Growth | 0.45 | 0.14 | 0.59 |
| Sustainable High Growth | 0.36 | 0.08 | 0.44 |
| Cash | 0.06 | 0.01 | 0.06 |
| Australian Bond | 0.13 | 0.02 | 0.15 |
| Diversified Credit Income | 0.32 | 0.02 | 0.34 |
| Listed Property3 | 0.21 | 0.16 | 0.37 |
| Australian Shares | 0.35 | 0.08 | 0.43 |
| International Shares | 0.48 | 0.09 | 0.57 |
| Global Environmental Opportunities | 0.33 | 0.14 | 0.46 |
| Australian Equity Income | 0.36 | 0.06 | 0.41 |
| Global Companies in Asia | 0.42 | 0.03 | 0.45 |
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Things you need to know
1 The investment fees and costs and transaction costs shown above are indicative only and are based on the investment fees and costs and transaction costs for the year ended 30 June 2021, including several components which are estimates. The actual amount you’ll be charged in subsequent financial years will depend on the actual fees and costs incurred by the Trustee in managing the relevant investment option. Investment fees and costs may include an amount for performance fees. The calculation basis for this amount is set out under ‘Additional explanation of fees and costs’ in the Fees and Costs booklet (PDF, 1.3 MB), the Flexi Pension PDS (3.1 MB) and the DBD and Accumulation 2 PDS (2.5 MB).
2 Components may not add to ‘Total’ due to rounding.
3 These amounts reflect the fees and costs which we have incurred in managing the Listed Property option, for example, fees and costs we incurred in the course of investing in listed property securities i.e. real estate investment trusts (REITs) for that option. These figures do not include any amounts incurred by the REITs which the Listed Property option has invested in – such as costs relating to any real property and the other business activities of those REITs.