(PRWEB) October 11, 2007
Self-Managed Superfund Professionals ESUPERFUND have launched a revolutionary new Self-Managed Superfund offering that enables its clients to administer their own Self-Managed Superfund but at a fraction of the traditional cost.
Self-Managed Superfunds have recently been in the spotlight as a result of the Government's changes to make super simpler and more tax-effective, led by tax-free retirement benefits for those over 60. This has led to an explosion in the establishment of Self Managed Funds which now exceed 350,000 and command over $250 billion in funds.
"The main reason for launching the new Self-Managed Superfund offering is to give consumers the opportunity to control and invest their own super and take full advantage of the Government's generous tax concessions, but at a heavily discounted fee, which in many cases is up to 80% below our competitors," ESUPERFUND's Chief Executive Bill Nicholas told journalists.
"Our total annual fee is only $599 per annum which is a fixed fee and includes all annual reporting obligations, including the Fund's financial statements, audit and the tax return. This contrasts to our competitors who typically charge on a percentage basis resulting in significantly higher and ever increasing fees as the clients super balance grows in value," Nicholas said.
ESUPERFUND has been able to offer its new Self-Managed Superfund offering at such a heavily reduced fee by ensuring all its clients use Comsec as the executing broker for the Fund and Macquarie as the Fund's Bank Account. This allows ESUPERFUND to receive all its clients trading and bank data electronically at source, alleviating its clients of this onerous responsibility.
"There's nothing like it in the market. We have eliminated having to access and reconcile our client's Super information each year and manually input that information into our accounting software, because we receive data feeds directly from the source," confirmed Mr Nicholas. "This in turn provides dramatic cost savings to our company, which are passed on to our clients."
"Importantly the investment decisions for the Fund are left solely to the client. We do not restrict our client's investment choices in any way," he continued.
By partnering with only the largest and most reputable organisations, including Macquarie and Comsec, ESUPERFUND aims to continue to provide innovative, cost effective Super solutions to its clients in the future. ESUPERFUND entered the SMSF space in 2000 and has rapidly become one of the dominant players in that market, currently administering client funds exceeding $1 billion.