Launch of Bendigo SmartStart Super
Bendigo Wealth has today announced the release of Bendigo SmartStart Super™.
Bendigo Wealth, the wealth management division of Bendigo and Adelaide Bank, is backed by the heritage and strength of over 150 years of banking, investment and lending expertise.
SmartStart Super features a full suite of low cost (0.39 to 0.99bp) index and actively managed funds - including brand new age-based default funds designed to meet a client’s life stage, investment preference, risk profile and preferred contribution methods.
Bendigo Wealth has partnered with TAL Life Ltd to provide a generous and highly competitive group life insurance cover as part of the SmartStart Super offering.
Head of Sandhurst Trustees, Paul Rohan said:
“Sandhurst Trustees, one of the oldest and most experienced parts of the Bendigo business has developed a new, affordable and easy to understand superannuation product flexible enough to suit most Australians.
We designed and built SmartStart Super as part of our ongoing commitment across the Bendigo and Adelaide Bank group to provide solutions, however our customers choose to engage with us.
Customers can expect our traditional hassle-free service, ease of understanding, fast turnaround times and the flexibility they need to help them achieve their retirement savings goals”. Mr Rohan concluded.
Alexandra Tullio, Head of Wealth markets said:
“We understand that everyone is different and that super can be seen as complex and confronting, so Bendigo Wealth is offering a superannuation recipe for retirement that makes it easy for people to keep it low cost and simple.
The SmartStart Super offering ranges from the plain and simple ‘set and forget’ default approach to a full suite of either actively managed or indexed diversified funds – or indeed a mix of both, meaning investors can take a core satellite approach.
The core satellite is effectively the ‘buffet’, where people who really want to take control of their retirement savings can determine how they choose, build and personalise their own super plan - according to their needs and investment convictions.
This flexibility includes brand new age-based default funds designed to meet a client’s life stage, risk profile and preferred contribution methods, along with a range of online services.
The underlying managed funds in SmartStart Super offer low management fees ranging from just 0.39% to 0.99% p.a. What’s more, the administration fee for SmartStart Super is only $98 p.a.
“All the funds have specialist managers managing the investments and SmartStart offers generous and highly competitive group life insurance cover. We believe this is a particularly attractive feature, given that only around 5% of Australian families with dependent children have the recommended level of risk protection cover*.
SmartStart Super is well suited to younger people starting out in their careers. The product is expected to be ideal for investors ranging from 20 to 50 years of age who are looking to consolidate funds and kick-start their retirement savings. SmartStart Super is low cost but high customer support - and we’ll continue to make sure that fees and charges are kept to an absolute bare minimum”, concluded Ms Tullio.
Bendigo SmartStart Super™ offers clients a low cost, simple, easy to use accumulation superannuation plan with fully flexible insurance options and extras.
When you invest your super with Bendigo SmartStart Super you’ll benefit from:
- Low cost and high support – fees are kept to a bare minimum.
- Simplicity - it’s easy to use and you have access to simple and convenient investment options managed by reputable investment managers.
- Core investment offering - a cash investment option and 10 readymade diversified investment funds.
- Flexibility - offering a full suit of funds designed to meet your risk profile, flexible contribution methods, and a number of online services.
- Full flexible insurance options and extras - including Death only, Death and Total and Permanent Disablement and/or Income Protection.
The Active Funds aim to outperform the benchmark (before fees) over the long term. To achieve these returns we’ll identify active managers that we believe can outperform set benchmarks, and we’ll tactically adjust the asset allocation when we have a strong conviction of changing market conditions. The Active Funds are:
- The Bendigo Defensive Wholesale Fund
- The Bendigo Conservative Wholesale Fund
- The Bendigo Balanced Wholesale Fund
- The Bendigo Growth Wholesale Fund
- The Bendigo High Growth Wholesale Fund
The Index Funds aim to match or exceed the Benchmark (before fees) over the long-term. To achieve these returns we’ll use low cost index investment managers that will provide returns in line with the index, and we’ll tactically adjust the asset allocation when we have a strong conviction of changing market conditions.
The Index Funds are:
- The Bendigo Defensive Index Fund
- The Bendigo Conservative Index Fund
- The Bendigo Balanced Index Fund
- The Bendigo Growth Index Fund
- The Bendigo High Growth Index Fund
Core Satellite Portfolio
Using a combination of the Active and Index funds from the same risk profile is called a ‘core satellite’ portfolio approach.
The benefit of a core satellite portfolio is that you get the best of both worlds; a cost effective index fund combined with active funds which could outperform the benchmark meaning the potential to reduce fees, maximise returns and reduce risk.
What does it cost?
- Admin fee: $98 p.a.
- Investment cost: 0.39% to 0.99% p.a.
- No establishment fee
- No contribution fee
- No withdrawal fee
- No switching fee
- No termination fee
- Optional adviser service fee
- Very competitive insurance premiums
Bendigo SmartStart Super™ is suited to investors who:
- Are just starting out in their working careers
- 20 to 50 years of age
- want a low cost super solution
- want a simple and flexible super product
- want ready made diversified investments that matches their risk and return appetite
* Source: 2010 Lifewise/ NATSEM Underinsurance Report conducted for the Financial Services Council (FSC),
Bendigo SmartStart SuperTM ABN 57 526 653 420 is issued by Sandhurst Trustees Limited ABN 16 004 030 737 AFSL 237906. Please consider your situation and read the Product Disclosure Statement available from www.sandhhursttrustees.com.au making an investment decision.