WHAT ARE THE FEES?

You will be charged fees over time with your investments. Please see details below on the fees related to each product. 

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mySTART

Our mySTART® service is flexible and comprehensive. You decide how much and how often to invest, and have access to your money at anytime.

How we charge for this service



The mySTART Investment Options include a range of investments such as global, New Zealand and Australian equities, investment trusts, managed funds, index funds, listed property trusts and cash. The Investment Options are grouped by asset class. By viewing this document you will be able to see & understand what management fees are charged. The actual fees charged during the most recent year will be provided in your quarterly report.

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CRAIGS KIWISAVER SCHEME

Investing in the Craigs KiwiSaver Scheme gives you more control and flexibility. You can build your own investment portfolio with access to a Craigs Investment Adviser to help you make informed decisions. 

What are the fees?

You will be charged fees for investing in Craigs KiwiSaver Scheme. Fees are deducted from your investment and will reduce your returns.

Some Investment Options such as funds and ETFs, may also charge fees.

The fees you pay will be charged in two ways:

  • regular charges (for example, annual fund charges). Small differences in these fees can have a big impact on your investment over the long term;
  • one-off fees (for example, brokerage).

The Scheme has a tiered management fee structure. This means the management fees charged to your Scheme account are determined by the asset class of the securities you hold and the market value of your investment in those particular asset classes.

The total management fee will not exceed 1.25% of the market value of your total investment into the Scheme. Fees will be recovered from your cash holdings, or by selling down securities within your portfolio proportionately.

Tiered Management Fee structure:

Tiered management fee structure table

Flat Management Fee Structure:

*For members who invest in a QuayStreet Fund through the Scheme, QuayStreet Asset Management Limited (QuayStreet) will refund the management fee charged by us in the form of a rebate. This is to ensure the QuayStreet Fund management fees paid by these members are the same as those paid by clients who invest directly with QuayStreet. Rebates are calculated daily and are credited in cash to your cash account in the following month. Members selling out of a QuayStreet Fund will receive the rebate in the month following the sale.

For those securities that are funds, the management fees are not the same as the annual fund charges. An explanation of what annual fund charges comprise is set out below.

The total annual fund charges for each security are set out in the Investment Options. These are stated as a percentage of the net asset value of the security.

The ‘Total Annual Fund Charge’ is made up of the following:

  • Management fees – are calculated based on the number of days the security has been held throughout the relevant year. This management fee covers the cost of managing the Scheme, including managing investments, processing contributions, withdrawals and corporate actions, dealing with correspondence and preparing statements. We currently meet the fees payable to the administration manager, custodian and supervisor out of the management fees. Fees will be recovered at the end of each month from your cash holdings, or by selling down securities within your portfolio proportionately.
  • Fees and expenses of underlying funds – securities that are funds may also have fees and expenses which are charged by the manager and supervisor of that fund. These fees and expenses will be reflected in the fund’s unit price and may therefore indirectly affect your returns.
  • Performance fee – the total annual fund charge will include the performance fees for any related underlying fund. Performance fees for other underlying funds are not included as part of the total annual fund charge. The Investment Options document identifies which securities charge performance fees.

Certain fees, charges or expenses are subject to GST at the prevailing rate.

There are some additional charges to those already mentioned that you may be subject to. These are outlined in the table below:

Performance fees may be charged within certain securities. The performance fee will typically be reflected in the securities price and may therefore indirectly affect your returns. For further information, please refer to the Investment Options document.

Sarah invests $10,000 in a number of the investment options from the Investment Options. She is charged brokerage when her funds are invested of $125.00 (1.25% of $10,000).

This brings the starting value of her investment to $9,875.00.

She is also charged the management fee, which works out to $123.44 (1.25% of $9,875.00). These fees might be more or less if her account balance has increased or decreased over the year and are dependent on the type of investments she has selected.

Over the next year, Sarah pays other charges of $45.00.

Estimated total fees for the first year

Brokerage: $125.00

Management Fees: $123.44

Other charges: $45.00

Sarah will also be charged Scheme expenses and if Sarah’s investment options include any funds, those funds may be subject to further fees (including performance fees) and expenses.

This example may not be representative of the actual fees you may be charged and reflects a sample portfolio of investment options at the maximum management fee rate.

We can change the existing fees and introduce new fees, subject to any maximum levels in the Scheme’s Trust Deed and the requirement in the KiwiSaver Act 2006 not to charge unreasonable fees, by giving notice to all members.

How we calculate fees

Methodology for calculating total fees disclosed in the Craigs KiwiSaver Scheme Annual Member Statements

This explains how we calculate the estimated total fees paid by a Craigs KiwiSaver member included in report packs under Fees and Expenses. It also includes a description of the information and assumptions used to estimate certain underlying fund charges which form part of the total fees.

Fees and Expenses calculation methodology

Fees and Expenses, expressed as a dollar amount, paid by a member for the year ended 31 March in the Annual Member Statement, is split into two parts:

Total Annual Fund Charge includes:

- Management Fees
- Underlying Fees and Expenses
- Performance Fees

Management Fees are calculated each day, by multiplying the market value of the assets held by the applicable management fee rate (refer the PDS for the fee rates, up to a maximum of 1.25%).

Underlying Fees and Expenses are calculated using the following formula:

a x b

where: a is the average value of your holding in an underlying security for the period
b is the underlying security annual fund charge.

The underlying security annual fund charge is prepared by the manager of the underlying security. The underlying security annual fund charge includes performance fees charged by the underlying security. Details of the underlying security fees are included in the Investment Options brochure.

Performance Fees for the QuayStreet Altum Fund are calculated using the following formula:

c x d

c is the average value of your holding of the QuayStreet Altum Fund
d is the performance fee rate charged on the QuayStreet Altum Fund

Estimates of certain underlying fund charges

The annual fund charges include the actual management fee, supervisor fee and expenses for each fund, as well as actual expenses and estimates of the other fees (including any performance fees). Estimates are based on historic fees and expenses data for the underlying funds. Where no historic data is available we estimate the expected fees and expenses levels using similar underlying funds. In the case of performance fees we use the estimates calculated by the relevant underlying manager. When we make estimates using historic data, we assume that ongoing charges will be at levels equivalent to the charges contained in the historic data.

Other charges includes:

- Scheme administration fee
- Brokerage, stamp duty and FX margins
- Scheme expenses (including audit and legal costs)

The scheme administration fee is $30.00 per annum, as described in the PDS.

Brokerage, stamp duty and foreign exchange (FX) margins are charged whenever you purchase or sell a security. We apply standard rates to the value of the transaction. The rates of the charges are described in the PDS.

Scheme expenses included audit and legal expenses. These expenses are paid by the manager and then recovered from the scheme.

QuayStreet Funds rebate

From 1 April 2022, we have changed the way we process fees for QuayStreet funds invested in our Craigs KiwiSaver service. For more information and FAQs please click here >

Superannuation fishing fly

CRAIGS SUPERANNUATION

A flexible Scheme to give you choice and control over your retirement savings.

What are the fees?

You will be charged fees for investing in Craigs Superannuation. Fees are deducted from your investment and will reduce your returns. Some Investment Options such as NZ managed funds and ETFs, may also charge fees.

The fees you pay will be charged in two ways:

  • regular charges (for example, annual fund charges). Small differences in these fees can have a big impact on your investment over the long term;
  • one-off fees (for example, brokerage).

The Scheme has a tiered management fee structure. This means the management fees charged to your Scheme account are determined by the asset class of the securities you hold and the market value of your investment in those particular asset classes.

The total management fee will not exceed 1.25% of the market value of your total investment into the Scheme. Fees will be recovered from your cash holdings, or by selling your securities within your portfolio proportionately.

management fee structure-supe

Flat Management Fee Structure:

 

*For members who invest in a QuayStreet Fund through the Scheme, QuayStreet Asset Management Limited (QuayStreet) will refund the management fee charged by us in the form of a rebate. This is to ensure the QuayStreet Fund management fees paid by these members are the same as those paid by clients who invest directly with QuayStreet. Rebates are calculated daily and are credited in cash to your cash account in the following month. Members selling out of a QuayStreet Fund will receive the rebate in the month following the sale.

For those securities that are funds, the management fees are not the same as the annual fund charges. An explanation of what annual fund charges comprise is set out above.

Performance fees may be charged within certain securities. The performance fee will typically be reflected in the securities price and may therefore indirectly affect your returns. For further information, please refer to the Investment Options.

super-other-charges

The total annual fund charges for each security are set out in the Investment Options supplement. These are stated as a percentage of the net asset value of the security.

The ‘Total Annual Fund Charge’ is made up of the following:

  • Management fees – Management fees are calculated based on the number of days the security has been held throughout the relevant year. The management fee covers the cost of managing the Scheme, including managing the investments, processing contributions, withdrawals and corporate actions, dealing with correspondence and preparing statements. We currently meet the fees payable to the administration manager, custodian and supervisor out of the management fees. Fees will be recovered at the end of each quarter from your cash holdings, or by selling down securities within your portfolio proportionately.
  • Fees and expenses of underlying funds – in relation to a security that is a fund, that fund may also have fees and expenses which are charged by the manager and supervisor of that fund. These fees and expenses will be reflected in the fund’s unit price and may therefore indirectly affect your returns.
  • Performance fee – the total annual fund charge will include the performance fees for any related underlying fund. Performance fees for other underlying funds are not included as part of the total annual fund charge. The Investment Options PDF identifies which securities charge performance fees.

Certain fees, charges or expenses are subject to GST at the prevailing rate.

Sarah invests $10,000 in a number of the investment options from the Investment Options document. She is charged brokerage of $125.00 when her funds are invested (1.25% of $10,000).

This brings the starting value of her investment to $9,875.00.

She is also charged the management fee, which works out to about $123.44 (1.25% of $9,875.00). These fees might be more or less if her account balance has increased or decreased over the year and are dependent on the type of investments she has selected.

Over the next year, Sarah pays other charges of $40.00.

Estimated total fees for the first year:

Brokerage: $125.00

Management Fees: $123.44

Other charges: $40.00

If Sarah’s investment options include any funds, those funds may be subject to further fees (including performance fees) and expenses.

This example may not be representative of the actual fees you may be charged and reflects a sample portfolio of investment options at the maximum management fee rate.

We can change the existing fees and introduce new fees by giving two months’ notice to all affected members.

The total annual fund charges for each security are set out in the Investment Options. These are stated as a percentage of the net asset value of the security.

The ‘Total Annual Fund Charge’ is made up of the following:

  • Management fees – are calculated based on the number of days the security has been held throughout the relevant year. This management fee covers the cost of managing the Scheme, including managing investments, processing contributions, withdrawals and corporate actions, dealing with correspondence and preparing statements. We currently meet the fees payable to the administration manager, custodian and supervisor out of the management fees. Fees will be recovered at the end of each month from your cash holdings, or by selling down securities within your portfolio proportionately.
  • Fees and expenses of underlying funds – securities that are funds may also have fees and expenses which are charged by the manager and supervisor of that fund. These fees and expenses will be reflected in the fund’s unit price and may therefore indirectly affect your returns.
  • Performance fee – the total annual fund charge will include the performance fees for any related underlying fund. Performance fees for other underlying funds are not included as part of the total annual fund charge. The Investment Options document identifies which securities charge performance fees.

Certain fees, charges or expenses are subject to GST at the prevailing rate.

QuayStreet Funds rebate

From 1 April 2022, we have changed the way we process fees for QuayStreet funds invested in our Craigs Superannuation service. For more information and FAQs please click here >

WE'RE HERE TO HELP


If you have any questions please don’t hesitate to contact your adviser, or get in touch with us.

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