There is something I'm still unsure about with contribution fees. I understand that on an initial investment the contribution fee will apply, lets says 4%, on a sum of $5000 means $200 contribution fee. Now will the contribution fee apply to regular additions to your investment, or is it only when you first enter the fund. Also it seems, most people have used InvestSmart as their fund broker in order to get the contribution fee rebate. Has anyone gone with using ComSec? Is there much difference between going one or the other?
> will the contribution fee apply to regular additions to your investment For the funds I have compared, the fee applies to all contributions, not just the initial one. I assume it varies, check the PDS. > Is there much difference between going one or the other? I would say about a 4% difference.
It looks like ComSec also offer to rebate the 4% contribution fee if you grab a PDS from them. Not sure if they also rebate additional investments.
Good luck with getting the trail rebate from smart invest. I have had some CFS funds lodged with them for close to a year now and they still don't even appear on their system. They also just have a limited range of participating fund managers. If your fund is not on the limited list they just keep the trail and tell you that it is because they only rebate the funds that send them an electronic report . .. too much work otherwise. I am starting to think they are more talk than action and am looking to move my funds out of principle.
My Patner and i have both applied through comsec for funds, we have applied for ING, CFS, BT and perpetual using their PDS.... The only issue was with BT where they still took our contribution fee regardless of their "rebate" policy. The other 3 were fine and with no issue.... We never did follow it up so we might of got it repaid if we did....
That's a little worrying since I was thinking about getting into the BT Imputation Fund using the ComSec PDS. I wonder if anyone else has had problems with getting the rebate from BT by going through ComSec, or any other fund manager for that matter?
