Business
Vanguard’s plan to cut out the super middleman – The Australian Financial Review
Australians pay $30 billion each year in superannuation fees. The entry of an $8.9 trillion US giant into the market could bring welcome downward pressure.
The first option is becoming more common as super funds come under pressure to try to reduce costs for consumers, but the outsourcing model is still dominant, with a total of $43.5 billion in “mandates” handed out by super funds to investment managers in the 12 months to March 31 alone, according to researcher Rainmaker Information.
Vanguard is the second biggest recipient of these mandates in Australia (or third biggest if you count those insourcing to their own internal investment teams).
M…
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