From 1 November 2021, a new management fee will apply to your Spaceship Voyager portfolio.
The new flat-rate management fee will replace the current percentage-based fee, and no other fees and costs will apply.
How the new fee will be charged
The new management fee is $2.50 per month, and this fee is applied when you have a single Spaceship Voyager portfolio with a balance of $100 or more.
If you have more than one portfolio within your Spaceship account, there are no additional fees.
The fee will be deducted from your primary portfolio. If you have multiple portfolios, your default primary portfolio is the portfolio you first invested in.
If you’ve invested in the Spaceship Universe Portfolio and have a balance of $2,500, you will be charged a flat monthly fee of $2.50.
If you’ve invested in the Spaceship Universe Portfolio and have a balance of $2,500 and the Spaceship Origin Portfolio and have a balance of $2,500, you will be charged a flat monthly fee of $2.50.
If you’ve invested in the Spaceship Universe Portfolio and have a balance of $50, you will not be charged the monthly management fee, as your balance is below the $100 fee-free threshold.
Why we’re introducing a new fee
This is our first fee change since launching Spaceship Voyager in 2018.
Since then, we have grown the technology, team, and product. This includes launching new investment options (our Spaceship Earth Portfolio), faster investment times, and new features (the ability to invest in multiple portfolios, and more recently, our goal-setting feature). As with everything we do, these features have been designed with our mission — to enable you to invest in your future — in mind.
Additionally, our in-house investment team has delivered strong investment performance outcomes since launch, which we’re really proud of.
As such, we have decided now is the right time to review and simplify our pricing.
Changes such as these aren’t taken lightly, and we understand this represents a fee increase for most customers. However, this decision allows us to create revenue that we can reinvest into Spaceship to ensure we continue to grow the technology, launch new features, and build a sustainable business that lasts for years to come.
We’re in this for the long haul.
You don’t need to do anything
For existing customers with a single portfolio balance of $100 or more, the fee will automatically be charged to your primary portfolio beginning 1 November 2021, and monthly thereafter where the balance of a single portfolio remains at $100 or more.
Find out more about the changes
Effective from 1 November 2021, we have updated the Product Disclosure Statements for the Spaceship Origin Portfolio, the Spaceship Universe Portfolio, and the Spaceship Earth Portfolio, along with the Reference Guide and the Financial Services Guide, to include:
- Revisions to the fees and costs, as outlined above.
- Revisions to the cut-off time for accepting investment and withdrawal applications. We now need to receive your investment and/or withdrawal requests by 4.00pm on a business day, instead of 5.00pm.
- Revisions to investment amounts. Investment plans are now subject to a minimum recurring amount of $5, and all investments are subject to a maximum amount of $500,000 per investment.
- Revisions to our risk profile descriptions. The risk profile descriptions for both the Spaceship Universe Portfolio and the Spaceship Earth Portfolio have been updated from ‘High’ to ‘Very high’.
- Revisions to our complaint resolution process.
- Simplified information about tax.
What if I have multiple Spaceship accounts?
A Spaceship account requires a unique email address and password. The management fee of $2.50 per month is applied when a portfolio has a balance of $100 or more. If you have more than one portfolio within your Spaceship account, there are no additional fees.
However, if you have more than one portfolio because you have established multiple Spaceship accounts, the fee will be applied when a portfolio in each account meets the $100 threshold.
For example, if you’ve invested in the Spaceship Universe Portfolio, with a balance of $100 or more, using the email address email@example.com, and a Spaceship Origin Portfolio, with a balance of $100 or more, using the email address firstname.lastname@example.org, both portfolios will be charged the management fee of $2.50 per month as both portfolios are over the $100 threshold.
If you have multiple accounts, you may be able to merge them into one account.
What if I have a Spaceship Super account?
The Spaceship Voyager management fee does not impact or replace Spaceship Super fees for customers who have chosen to show their Spaceship Super account within the Spaceship app. Spaceship Super fees will still apply.
What happens if my primary portfolio has insufficient funds?
If your primary portfolio has insufficient funds when we charge your monthly fee, your portfolio with the next highest balance will be charged.
Can I change my primary portfolio?
From 1 November 2021, you will be able to select which portfolio is your primary portfolio within the Spaceship app.
What if my current investment plan is for less than $5?
The new minimum recurring investment plan amount is for any investment plans created from 1 November 2021. If you have created an investment plan before that date, this change will not apply unless you make changes to your investment plan after 1 November 2021.
If you have any questions regarding the fee, please contact our customer support team using the in-app chat or by emailing email@example.com.