Financial Standard Comments - ANZ launches low-cost super fund

Comment by Andrew Dinsdale-Scanlon (RFS)

Andrew Dinsdale-Scanlon (RFS) — Thu, 22 Nov 2012 13:03:56 +1100

CHEAP IS BEST ! ! !

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Comment by Somewhat Sceptical (NFP)

Somewhat Sceptical (NFP) — Thu, 22 Nov 2012 13:22:47 +1100

Sounds good re the fees, but then so did ING and BT's new 'low frills' products. As ever the devil is in the detail, and that is what is the investment engine. I'll wager it's another passive, index-hugging investment product that over time will not perform nearly as we'll as the industry funds have with their active core strategies and low cost.

As they say, you can't eat relative performance...and superficial low fees alone will not put food on the table in retirement!!

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Comment by Less Sceptical (FP)

Less Sceptical (FP) — Thu, 22 Nov 2012 18:47:25 +1100

NFP, You are very perceptive but unfortunately even industry funds have moved their listed assets towards index. I find it hard to believe that this is "in the best interest of members" as is sponsoring football teams.

Unfortunately the government has not realised 1) the value of good advice and 2) the true benefit of alpha. It has preferred to push the industry to dirty beta in the pretence that this is alpha.

Well done ANZ, your move Industry funds

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