Fees and other costs

Being a profit-for-members industry fund, ACSRF’s fees are based on what is required to operate the Fund. The following table shows fees and other costs that you may be charged. These fees and costs may be deducted from your money, from the returns on your investment or from the fund assets as a whole.

You should read all of the information about fees and costs because it is important to understand their impact on your investment.

Type of fee or cost Amount How and when paid Fees when your money moves in or out of the fund Establishment fee: The fee to open your investment Nil N/A Contribution fee:The fee on each amount contributed to your investment, either by you or your employer. Nil N/A Withdrawal fee: The fee for each lump sum withdrawal amount you take out of your investment. $35 per transaction Deducted from your account balance when you transfer or withdraw all or part of your investment account balance from the Plan. Termination fee: The fee to close your investment Nil N/A Management costs The fees and costs for managing your investment. The amount you pay for specific investment options is shown below. $1.50 per week for all members plus estimated other costs of 0.20% pa of your account balance plus estimated investment option costs of between 0.07–0.87% pa of your account balance. The $1.50 per week is automatically deducted from your account on the last day of each month. The other costs are deducted from the fund assets as a whole before the unit price is determined. They are therefore reflected in the unit prices. Investment option: Estimated investment management fee (pa): Plus estimated PBF (pa): These are the estimated investment option fees you pay for specific investment options. These fees are deducted from the investment earnings of each investment option and are reflected in the unit prices. They are not charged directly to member accounts. The performance based fees (PBF) are estimated on the basis that all managers who have a PBF outperform their bench-marks by 1%. When performance fees are incurred, they are accompanied by a more than commensurate increase in investment returns by the investment manager. Diversified Shares 0.66% 0.07% Growth 0.71% 0.08% Balanced 0.70% 0.08% Socially Responsible Balanced 0.77% 0.03% Conservative Balanced 0.60% 0.06% Conservative 0.45% 0.04% Australian Shares 0.53% 0.08% International Shares 0.81% 0.06% Diversified Property 0.72% 0.05% Diversified Fixed Interest 0.36% 0.00% Cash 0.07% 0.00% Service fees1     Investment switching fee: The fee for changing investment options Nil N/A

• The withdrawal fee is also charged for contribution splits.
• A Family Law withdrawal fee of $70 applies, split between the member and the spouse.
• Member protection restricts the administration fees and other costs charged to account balances of less than $1,000. Small balances will be affected by deductions such as contributions tax and insurance premiums, or possibly poor investment returns.
• More information about taxes is set out in the Tax and superannuation fact sheet and the Tax and allocated pensions fact sheet. The benefit of any tax deduction is passed on to members in the form of a reduction in the contributions tax you pay.
• All fee calculations are inclusive of GST. Reduced input tax credits have been incorporated into the administration costs.
• A buy-sell spread is charged when ACSRF purchases or sells investment assets. Estimated buy-sell spreads are shown in the following table. They are deducted from contributions, rollovers into the Fund or investment switches and are an additional cost to members.
• Investment costs are estimates based on the asset allocation as at April 2011. Investment costs may change throughout the year.
• Financial advisor remuneration does not form part of any fee or cost shown above.
• All fees are current and may be revised or adjusted by ACSRF from time to time. ACSRF may also introduce new fees.
• If there is an increase in fees, the Trustee must notify you 30 days in advance of the change.

Investment option Buy-sell spread Diversified Shares 0.50% Growth 0.54% Balanced 0.58% Socially Responsible Balanced 0.44% Conservative Balanced 0.42% Conservative 0.28% Australian Shares 0.32% International Shares 0.72% Diversified Property 2.06% Diversified Fixed Interest 0.00% Cash 0.00%