ING's new super product to shake up the industryBY LINDA HAUSKEN | WEDNESDAY, 5 SEP 2012 1:10PMING Direct has launched a superannuation product that it claims will shake up the super industry because of its no administration, contribution or management fees features in its Balanced option. |
Editor's Choice
ASIC pushes to bolster competitiveness
The regulator has hosted a roundtable with financial services leaders to encourage competitiveness, as it fears Australia is falling behind its global peers.
Euroz Hartleys sells capital markets arm to Canada's BMO
Euroz Hartleys has sold its capital markets business to Canada's BMO Financial Group (BMO) for $145 million in an all-cash deal.
ETF adoption hits 'meaningful threshold' among SWFs
Nearly 40% of sovereign wealth funds have an allocation to ETFs, a new report from Invesco shows, underscoring their expanded roles among institutional investors as their rate of adoption hits a "meaningful threshold".
Super system to hit $12.4tn by 2045
Australia's superannuation system is forecast to triple in size over the next two decades reaching $12.4 trillion by 2045, as sustainable retirement outcomes become the sector's defining challenge.
Products
Expert Feed
When geopolitics becomes a portfolio risk
Geopolitics is back - again - and Australian investors can no longer treat it as distant background noise.
Does association membership still matter?
With all the changes the advice sector has experienced in recent years, such as regulatory reform and increased education and professional standards ...
Digital assets and where they stand in 2026
So far in 2026 digital assets have captured the headlines largely for the wrong reasons, but that doesn't tell the full story.
Rethinking default design in a changing market environment
The evolution underway in the US DC system highlights the value of periodically reassessing default design assumptions.
Featured Profile
Judith Fiander
CHIEF EXECUTIVE OFFICER
AUSTRALIAN PHILANTHROPIC SERVICES
AUSTRALIAN PHILANTHROPIC SERVICES
When Judith Fiander first walked in the doors of Australian Philanthropic Services her intention was to volunteer for a few months. Fast forward 14 years and she is the chief executive. Eliza Bavin writes.
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.
It will be interesting to see what approach ING takes to upselling clients into other investement options which generate a fee.
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.