Amp superfunds with 100k were losing money, page-47

Australian Super charge $78 p.a. administration costs for a cash account. Plus 0.17% for funds management. On $100,000, which is the size of the cash fund under discussion, that’s $248, which is minimal with a current return of 2.4%. In other words Australian Super returns 2.152% net on $100k (not 1% gross, as you claim) where AMP give a negative return.

https://www.google.com.au/amp/s/amp...e-so-high-100000-super-investment-made-a-loss

I really wouldn’t advise using google for info on which you have zero basic knowledge. You’ve missed off the ATO’s annual tax of c. $290, and the other fees are excessive or not applicable. My SMSF costs were $330 for the audit and $660 for the accounts and tax returns. Plus the ATO “fee”. That’s still excessive compared to managing the funds outside of the Superannuation Compulsory-Donations-to-the-Financial-Services-Industry Acts and Regulations so we’re saving $1,300 a year by closing it.