At Colonial First State we believe in being open and transparent about the fees we charge, so you can clearly understand what you’re paying for. That’s why we wanted to let you know about some upcoming changes to our cost recovery amount.
The cost recovery amount covers a portion of the ongoing expenses related to managing your investment. These include administrative, registry, audit and regulatory costs. This amount is currently charged at 0.02% of the amount you invest in the relevant investment options per year.
From 1 November 2017, the cost recovery amount will increase to 0.03%. This means that we’ll be charging an additional 0.01% of your account balance per year to manage your investment. The increase will be annualised on a transitional basis in the 2018 financial year.
This change will be reflected as an increase in the investment fee and will be shown in your next statement and the Product Disclosure Statements (PDS), from mid-September.
The increase will apply to all options on the investment menu that currently include a cost recovery amount with the exception of:
- FirstChoice Lifestage options
- Suspended investment options
- FirstRate Saver
In future, any new investment options that we introduce will also include this fee.
Want more information?
Speak to your financial adviser or call us on 1300 654 666, Monday to Friday, 8am to 7pm Sydney time.
Colonial First State Investments Limited ABN 98 002 348 352, AFS Licence 232468 (Colonial First State) is the issuer of super, pension and investment products. This document may include general advice but does not take into account your individual objectives, financial situation or needs. You should read the relevant Product Disclosure Statement (PDS) carefully and assess whether the information is appropriate for you and consider talking to a financial adviser before making an investment decision. A PDS for Colonial First State’s products are available at colonialfirststate.com.au or by calling us on 13 13 36.