I have a SMSF and have to apply a sole purpose test and that is every thing I do is in the best interest of my retirement ,the amount industry funds spend on fees,promotions and performance should face the same test.

Revealed: How much an industry fund pays in fees

By Mike Taylor

23 January 2020

INDUSTRY NEWS

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Just how much major industry superannuation funds pay in investment fees to fund managers and others has been laid bare to a Parliamentary Committee.

Industry fund, Hostplus has revealed that it paid a total of just over $229 million in fees, with the greatest portion related to the fund’s exposure to Australian equities and international equities.

The superannuation fund revealed it spent $193,199,647 on management fees and $35,805,660 on performance fees