HESTA Industry Superannuation Fund
7 November 2008
HESTA Industry Superannuation Fund is a superannuation fund for the health and community services industry. With over 600,000 members, $13 billion in assets and covering 59,000 employers, HESTA Industry Superannuation Fund is well-established. Industry superannuation funds are known for charging lower fees than many other types of superannuation funds, and HESTA Industry Superannuation Fund follows this philosophy, with fees largely based on a percentage of a clients total superannuation fund balance. This means that those with very large balances may be better off using a self managed superannuation fund with a flat fee, such as ESUPERFUND, if they wish to save on fees. People with smaller superannuation fund balances may be able to save on fees by choosing HESTA Industry Superannuation Fund, though.
The fees that HESTA Industry Superannuation Fund currently charges include:
- $52 per year administration fee($1 per week)
- 0.07% p.a. Trustee operating fee applied to investment earnings before interest rates are declared
- No entry fees, exit fees, or fees for switching investment choices
- Varying management fee and performance fee depending on the investment choices you use and their performance in a given year
- Other fees may also apply and HESTA Industry Superannuation Fund may choose to change their fees.
The history of HESTA Industry Superannuation Fund returns is quite reasonable, despite losses during the current economic crisis. While the 1 year HESTA Core Pool (their balanced investment option) return was -5.4% ending 30 June 2008, the 3 year return was 8.0% and the 5 year return was 10.5%.
Please click on our ESUPERFUND sponsor banner if you are interested in approaching ESUPERFUND to start a self managed superannuation fund.
