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Contribution Fees

Discussion in 'Managed Funds & Index Funds' started by jmagtala, 31st Oct, 2007.

  1. jmagtala

    jmagtala New Member

    Joined:
    10th Oct, 2007
    Posts:
    1
    Location:
    Melbourne, VIC
    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?
     
  2. pinkeye

    pinkeye Active Member

    Joined:
    30th Oct, 2007
    Posts:
    33
    Location:
    Melbourne, VIC
    > 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. :D
     
  3. TopsideSoul

    TopsideSoul New Member

    Joined:
    25th Oct, 2007
    Posts:
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    Location:
    Melbourne
    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.
     
  4. Simon

    Simon Well-Known Member

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    17th Sep, 2005
    Posts:
    520
    Location:
    Newcastle
    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.
     
  5. DaveA

    DaveA Well-Known Member

    Joined:
    19th Feb, 2007
    Posts:
    617
    Location:
    Sydney, NSW
    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....
     
  6. TopsideSoul

    TopsideSoul New Member

    Joined:
    25th Oct, 2007
    Posts:
    4
    Location:
    Melbourne
    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?