I’m the sort of person that tracks my money meticulously. I have 11 different bank accounts that play various roles or have various budgets assigned to them.
So, a few weeks back, when I moved house and instantly acquired three new bills that needed paying, I turned to the same trusty spreadsheet where I have been keeping all this sort of money stuff organised for the last few years.
It’s the one place where I have a complete picture of my money, and so when I first started that spreadsheet, it was the one the place that reminded me that not only is my superannuation balance my money, but it’s one of the biggest investments I’ll ever make.
Super is such an important tool that we can wield — and one of many in our financial toolbelt, so to speak — but also one we can forget about because we won’t use it for years.
But I suspect that the more than 300,000 of you that receive this newsletter know that super is an important tool. After all, while I’m certain there are various things connecting some of us to others, there is one thing likely connecting us all: an interest in investing and building wealth.
That’s why I’m so excited to announce that Spaceship Super won the Best Value Super Fund for Young People award at Money Magazine’s Best of the Best 2022 awards!
Money Magazine looked at superannuation products that have delivered the ‘best value to members aged 25 who have a $5,000 account balance’, and considered performance (net of all age-specific fees) and fees when evaluating the nominees.
Stacking up Spaceship Super’s fees (on a balance of $5000) and annual performance — our GrowthX investment option returned 23.41% in the year ending 30 June 2021 while our Global Index investment option returned 22.03% in the same period — Money Magazine clearly concluded that Spaceship Super is a winner!
This news is already exciting, but we have some more news to share.
If you have a Spaceship Super balance that is less than $6,000 on the last day of the month (when fees are deducted), we’ll waive the flat dollar admin fee — which is normally $78 pa — leaving you with more money to invest in your future.
We’ve also made some other adjustments to fees, as at 1 December 2021:
For the Spaceship GrowthX investment option:
- The investment fee increased from 0.193% pa to 0.196% pa.
- The administration fee decreased from 0.723% pa to 0.720% pa.
Therefore, the ‘cost of product’ — the total amount you’d be charged in a calendar year if your balance was $50,000 — remains unchanged at $536.
Additionally, we reduced the buy/sell spread from 0.198% / 0.199% to 0.188% / 0.189%.
For the Spaceship Global Index investment option:
- The administration fee decreased from 0.580% pa to 0.577% pa.
Therefore, the ‘cost of product’ — the total amount you’d be charged in a calendar year if your balance was $50,000 — reduced from $368 to $366.50.
Additionally, we reduced the buy/sell spread from 0.140% / 0.133% to 0.113% / 0.106%.
(We have updated the Product Disclosure Statement and Reference Guide accordingly. A Significant Event Notice detailing these changes will be made available on our website shortly.)
We at Spaceship already believed Spaceship Super was a winner, but this only adds to the story of us being the Best Value Super Fund for Young People.
And on a more personal note, I’m excited to know Spaceship is continuing to take steps to fulfill our mission of helping you to invest in your future.
Superannuation is just one part of that, but a truly important one.
Returns are net of investment fees and taxes but do not include the impact of the administration fees that are deducted from your account balance. These returns are not a projection. Actual returns may differ, and can be positive or negative. Past performance is not a guide to, or reliable indicator of, future performance.
