The Indirect cost ratio is an estimate of the costs for investing in the Fund’s assets which are deducted from investments rather than paid directly by the Fund. It includes expenses that do not form part of the investment fees incurred in investing the assets (but excludes Buy-sell spread).
The estimated Indirect cost ratio figures for each investment option is shown in the table below.
These figures are based on indicative annualised calculations for the 2016–17 financial year except where indicated below. The figures will change throughout the year due to factors such as cash flow, changes in the Fund’s investment managers, and changes in asset allocation.
1. The investment fee, excluding the fee set by Media Super, is an estimate only as actual costs will vary based on actual asset allocations to individual investments throughout the year.
2. Indexed at 1 April each year.
3. ICRs apply to individual investments held within the Direct Investment option. Refer to the Direct Investment Guide for details. The ICR for the cash transaction account is estimated at 0.05%
4. Refer brokerage and term deposit break fees.
5. These cohorts are initially combined with the 1989-1993 cohort. As at the date of this document, the investment fees for these cohorts are the same as for the 1989-1993 cohort.
6. The indirect cost ratio is based on indicative annualised calculations for the 2016–17 financial year except for Unlisted Infrastructure, SmartPath 1964–1968 which are estimated for the period 2017–18.
Media Super may charge a Buy-sell spread in order to recover transaction costs incurred in relation to the buying and selling of the underlying assets of each investment option. The Trustee does not currently charge a buy-sell spread, but reserves the right to do so.