INVESTMENT FEES, INDIRECT COST RATIOS & PROPERTY OPERATING COSTS
The Investment fee represents the fees and costs for the investment of the Fund’s assets which are paid from the assets of the Fund.
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 any Buy-sell spread).
Property operating costs reflect additional costs payable in relation to real property, excluding borrowing costs and amounts payable for the acquisition or disposal of real property.
The estimated Investment fee, Indirect cost ratio and Property operating costs for each investment option are shown in the table. The Investment fee arising from costs, the Indirect cost ratio and the Property operating costs will change throughout the year due to factors such as cash flow, changes in the Fund’s investment managers, and changes in asset allocation.
* 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.
@ Indexed at 1 April each year.
& ICRs apply to individual investments held within the Direct Investment option - refer to the Direct Investment guide. Cash transaction account estimated at 0.005%.
~ These cohorts are initially combined with the 1989-1993 cohort.
^ The indirect cost ratio is an estimate only, based on indicative annualised calculations for the 2018-19 year.
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.