For the effect of fees on your cumulative returns, please see our report How Fees Can Destroy Your Wealth. Fee data may not include all costs being charged such as platform and adviser fees. Whilst every care has been taken in producing these numbers, InvestSMART does not guarantee the accuracy of the figures produced in the table. Fees are calculated by Morningstar as the average over 10 years. Only funds with > three year returns were included in any fee comparison, and were compared to Morningstar’s nominated benchmark. This may not include all funds available for retail investment in Australia. ^ Only funds and investment products included in the Morningstar Australia database are available for fee and performance comparison. Historical performance is not a reliable indicator of future performance. InvestSMART cannot determine whether or not franking has been included, nor if dividends have been reinvested. The peer calculation is inclusive of admin and management fees excludes brokerage and no withdrawals have been made. The peer comparison figures have been sourced from Morningstar data and is therefore limited to the funds and investment products included in their database. Performance figures for periods greater than one year are annualised and presented as 'per annum' values. brokerage and assuming dividends re-invested and no withdrawals. # Performance figures are after management and admin fees excl.

For more information about fees and costs, please see the Product Disclosure Statement and Investment Menu.

Indirect Costs are estimated to be between 0.09% - 0.30% p.a. * InvestSMART’s capped management fees (capped at $550 p.a.) do not include indirect cost ratio charged by ETF providers nor brokerage. You should consider the PDS, FSG and TMD before making a decision about a product. The PDS for financial products offered through InvestSMART can be downloaded from this website or obtained by contacting 1300 880 160. IMPORTANT: This information is general financial product advice only and you should consider the relevant Product Disclosure Statement (PDS), Financial Services Guide (FSG), Target Market Determination (TMD) or seek professional advice before making any investment decision.

The Bigger They Are by Kim Alan