10 things you need to know this morning in Australia
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There are Australia s 13 underperforming super funds, according to APRA
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Christian Super has announced fees reduction, effective 1 July, which will see a decrease of between five to 10 basis points for all the fund’s diversified options, but fees for the low-cost Ethical Index Shares and Ethical Cash options will remain unchanged.
The firm said it had reduced fees for the third time in two years as a part of its strategy to provide ‘’faith-aligned superannuation products and outcomes”.
The annual fees and costs for a Christian Super member with $50,000 invested in the default My Ethical Super option were reduced from $645 to $610, contributing to an overall decrease of nearly 15% in the last two years.