Management costs

Investment management fees

The investment management fees shown in the table below should be treated as an estimate and include costs payable to investment managers, asset consultants and custodian. The investment management fee may vary depending upon factors such as the mix of investment managers used within the various investment options.

Performance fees are paid to some investment managers when performance exceeds a predetermined objective. Performance fees payable in the future cannot be predicted and are not included in the table. If all managers who could earn a performance-based fee were to outperform their performance objective by 1%, the investment management fee would increase by an amount in the range of 0% to 0.2%. If the performance fee is incurred, that means that an investment manager has delivered performance that more than compensates for the fee increase.

Investment Option	Investment Management Fee (p.a.)
Diversified (Super default)	0.71%
Moderate Growth (Pension default)	0.66%
International Shares	0.83%
Australian Shares	0.64%
Shares Plus	0.82%
High Growth	0.76%
Property	0.62%
Conservative	0.55%
Defensive	0.45%
Diversified Bonds	0.29%
Cash	0.13%
Green Shares	0.95%
Indexed Balanced	0.15%

Example of annual fees and costs for the Diversified investment option

The table below gives an example of how the fees and costs in the Diversified Investment Option for this product can affect your superannuation investment over a one-year period. You should use this table to compare NGS Super with other superannuation funds.

EXAMPLE The Diversified Investment Option		Balance of $50,000 with total contributions of $5,000 during year
Contribution Fees	Nil	N/A
PLUS Management Costs	0.71% p.a. (investment management fee) and 0.10% p.a. (asset-based fee) plus $65 ($1.25 per week) administration fee.	For every $50,000 you have in the Fund you will be charged $405 each year plus the $65 administration fee which does not change regardless of your balance.
EQUALS Cost of fund		If you put in $5,000 during a year and your balance was $50,000, then for that year you will be charged fees of: $470.00* What it costs you will depend on the investment option you choose and the fees you negotiate with your fund or financial adviser.^

* Additional fees may apply:
If you leave the fund, you will also be charged a withdrawal fee of $30.00. The Management costs which apply to the other investment options available are set out in the "Additional explanation of fees and costs" section on this page.
^ Please note that this information is required to be included by law.

Member Protection

NGS Super's Member Protection Policy (which complies with Government legislation) aims to protect members with low balance accounts (less than $1,000) from having your savings eaten away by fees. If your super account balance is less than $1000 at 30 June, any fees charged to your account will generally be limited to no more than the investment return credited to your account balance plus $10, or such other amount as is permitted by law. This protection does not apply to fees or expenses deducted from the Fund assets or from investment earnings, nor to contributions tax or insurance premiums.

Fee increases or alterations

The Trustee has the right to increase fees at any time. Reasons might include changes in economic conditions or government regulations, increases charged by suppliers or a substantial reduction in the size of the Fund. If the Trustee increases any of the fees that are deducted directly from your account, you will receive at least 30 days notice of any increase in fees. The fees and expenses relating to investment reflect costs paid by the Fund to external providers and may change from time to time. These changes will always be advised in the Annual Trustee Report.

Negotiated Fees

NGS Super is an industry super fund and operates on a profit for members only basis. The Fund fees are non-negotiable.

GST

Fees and costs shown in the "Fees and Charges" section of the Member Guide (PDS) include GST and stamp duty if applicable.

Income Tax and its effect on fees

Tax is payable on investment earnings of the fund at a maximum rate of 15%. However as the fund is allowed a tax deduction in respect of certain fees and costs the rate of tax actually payable by the fund may be less than 15%. The benefit of any income tax deductions is passed on to members indirectly when the Trustee determines unit prices.