We’re updating our PDS and periodic statements across our super, pension and investment products to comply with the latest ASIC Regulatory Guide 97, which aims to facilitate further transparency around fees and costs.
Please note that this change only impacts the way we display fees and costs, and does not impact the amount of fees and costs that are paid by you.
The PDSs available from 13 December 2021 reflect the new RG97 requirements.
A key change is the introduction of the ‘cost of product’ table that will provide a summary of how ongoing annual fees and costs can affect a balance over a one-year period. The aim is to provide additional information that may help compare fees and costs with other available products offered in the market.
For further information on how we calculate the figures in the ‘cost of product’ table, please refer to the relevant PDS from 13 December 2021.
We have updated the ‘fees and costs summary’ section in periodic and exit statements from 1 July 2021.
There are two categories of fees and costs here:
- Fees deducted directly from your account
- Fees and costs deducted from your investment
For further information on statements, please refer to the relevant statement guide.
Colonial First State Investments Limited ABN 98 002 348 352, AFSL 232468 (CFSIL) is the issuer of the FirstChoice range of super and pension products from the Colonial First State FirstChoice Superannuation Trust ABN 26 458 298 557. CFSIL also issues interests in products made available under FirstChoice Investments and FirstChoice Wholesale Investments. This document may include general advice but does not take into account your individual objectives, financial situation or needs. The Target Market Determinations (TMD) for our financial products can be found at www.cfs.com.au/tmd and include a description of who a financial product is appropriate for. You should read the relevant Product Disclosure Statement (PDS) and Financial Services Guide (FSG) carefully, assess whether the information is appropriate for you, and consider talking to a financial adviser before making an investment decision. The PDS and FSG can be obtained from www.cfs.com.au or by calling us on 13 13 36.