Clearly opaque, ticket-clipping, bundled fees are OK again. If your fair dinkum about fee tranparency, please post, clearly, on your website and in your PDS the actual quantum of that part of the "benefit" (read profit) ING derives from the difference between taking cash from the super product and lending this out as mortgages that will be used to cover your obvious costs. After all, this is return that would otherwise go to your fund's members' retirement balances if they were otherwise paying a tranparent admin fee.

Clever marketing, but as others before you (like Virgin Super) discovered, it will only carry you so far, and I'm very confident the one manager, passive, investment engine will underperform properly diversified strategies over the mid to longer term.

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It will be interesting to see what approach ING takes to upselling clients into other investement options which generate a fee.

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1.They clip the ticket on the returns - see bottom of page 27 and top of page 28 on the product guide, not the PDS.
2.They charge a buy sell spread.
3.Brokerage costs are deducted from the cash hub (which you must have)
4.Transaction costs may be included in the buy sell spread.

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