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Fees and charges

Fees are a fact of life. No-one likes paying over the top. We work hard to make sure our fees are fair, reasonable and reflect the value of our service.
Plus, we want to give you a helping hand. So we only charge a member fee on account balances over $500. And for members who join the Booster KiwiSaver Scheme in our Default Saver Fund, we don’t charge a member fee until your balance reaches $10,001.

What are the fees?

The member fee covers the cost of administering your account. It’s deducted from your account each month.
 Account Balance
Member fee¹¹ Members who pay the standard member fee of $3.00 per month automatically receive the free Accidental Death Cover benefit unless they are 65 years or over. This applies even if you’re not being charged the standard fee due to your low account balance. Any member paying the member fee of $2.50 per month is not eligible for free Accidental Death Cover.
All funds $0 - $500 $0
>$500 $3.00 per month ($36 per year)
Default Saver Fund $0 - $10,000
$0**If you’ve had all your money invested in the Default Saver Fund since you joined the Booster KiwiSaver Scheme, you’ll pay no member fee until your balance goes above $10,001.
>$10,001 $2.50 per month ($30 per year)

What are the fees?

The member fee covers the cost of administering your account. It’s deducted from your account each month.
 Account Balance
Member fee¹¹ Members who pay the standard member fee of $3.00 per month automatically receive the free Accidental Death Cover benefit unless they are 65 years or over. This applies even if you’re not being charged the standard fee due to your low account balance. Any member paying the member fee of $2.50 per month is not eligible for free Accidental Death Cover.
All funds $0 - $500 $0
>$500 $3.00 per month ($36 per year)
Default Saver Fund $0 - $10,000
$0**If you’ve had all your money invested in the Default Saver Fund since you joined the Booster KiwiSaver Scheme, you’ll pay no member fee until your balance goes above $10,001.
>$10,001 $2.50 per month ($30 per year)
This includes:

Booster Blue Logo Rgb Device Website Height 9PxFixed annual management fee: It’s charged as a fixed percentage of the net asset value of the fund.

Booster Blue Logo Rgb Device Website Height 9Px Variable portfolio administration & performance-based fees: These are estimated charges and will vary, depending on the performance of the fund and the number of overseas investment transactions

The annual fund charges do not include the monthly member fee or one-off account fees.

How is it charged?

The annual fund charges are deducted directly from the fund you invest in. This means you won’t see it as a deduction from your balance. Your balance reflects the value of your account with the annual fund charges already paid.

Examples
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SRI Balanced investor

Awhina invests $10,000 in the Socially Responsible Investment Balanced Fund.

She is charged management and administration fees which work out to about $127. (1.27% of $10,000). These fees might be more or less if her account balance has increased or decreased over the year.

Awhina pays a member fee of $36.

Estimated total fees for the year

Annual fund charges: $127

Member fee: $36

Total: $163
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SRI Balanced investor

Awhina invests $10,000 in the Socially Responsible Investment Balanced Fund.

She is charged management and administration fees which work out to about $127. (1.27% of $10,000). These fees might be more or less if her account balance has increased or decreased over the year.

Awhina pays a member fee of $36.

Estimated total fees for the year

Annual fund charges: $127

Member fee: $36

Total: $163
Conservative
Default Saver Fund
Annual management fee (fixed) 0.38%
Other admin and performance fees (estimate)  
Total annual fund charges (estimate) 0.38%
Enhanced Income Fund
Annual management fee (fixed) 0.82%
Other admin and performance fees (estimate)  
Total annual fund charges (estimate) 0.82%
Capital Guaranteed Fund
Annual management fee (fixed) 0.90%
Other admin and performance fees (estimate) 0.01%
Total annual fund charges (estimate) 0.91%
Moderate Fund
Annual management fee (fixed) 1.07%
Other admin and performance fees (estimate) 0.07%
Total annual fund charges (estimate) 1.14%
Asset Class Conservative Fund
Annual management fee (fixed) 1.15%
Other admin and performance fees (estimate)  
Total annual fund charges (estimate) 1.15%
Balanced
Asset Class Balanced Fund
Annual management fee (fixed) 1.22%
Other admin and performance fees (estimate)  
Total annual fund charges (estimate) 1.22%
Balanced Fund
Annual management fee (fixed) 1.17%
Other admin and performance fees (estimate) 0.07%
Total annual fund charges (estimate) 1.24%
Growth
Trans-Tasman Share Fund
Annual management fee (fixed) 1.17%
Other admin and performance fees (estimate) 0.05%
Total annual fund charges (estimate) 1.22%
Asset Class Growth Fund
Annual management fee (fixed) 1.29%
Other admin and performance fees (estimate)  
Total annual fund charges (estimate) 1.29%
Balanced Growth Fund
Annual management fee (fixed) 1.22%
Other admin and performance fees (estimate) 0.07%
Total annual fund charges (estimate) 1.29%
Shielded Growth Fund
Annual management fee (fixed) 1.27%
Other admin and performance fees (estimate) 0.07%
Total annual fund charges (estimate) 1.34%%
High Growth Fund
Annual management fee (fixed) 1.27%
Other admin and performance fees (estimate) 0.07%
Total annual fund charges (estimate) 1.34%
International Share Fund
Annual management fee (fixed) 1.32%
Other admin and performance fees (estimate) 0.05%
Total annual fund charges (estimate) 1.37%
Geared Growth Fund²² The Geared Growth Fund’s total annual fund charge includes estimates for the gearing fee, which is 1.1% of the amount borrowed, calculated daily. The annual fund charge does not include the interest costs paid on the gearing, currently estimated at 1.48% on the money borrowed by the Fund.
Annual management fee (fixed) 1.27%
Other admin and performance fees (estimate) 0.48%
Total annual fund charges (estimate) 1.75%
Socially Responsible Investing
Socially Responsible Balanced Fund
Annual management fee (fixed) 1.17%
Other admin and performance fees (estimate) 0.10%
Total annual fund charges (estimate) 1.27%
Socially Responsible Growth Fund
Annual management fee (fixed) 1.17%
Other admin and performance fees (estimate) 0.15%
Total annual fund charges (estimate) 1.32%
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Account establishment fee No charge
Account contribution No charge
Account withdrawl No charge
Switching funds fee No charge
Account closure fee If you've had all your money fully invested in the Default Saver Fund since you joined the Booster KiwiSaver Scheme, you won't pay the account closure fee.
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Account closure fee $30

The finer details

Annual management fee? Variable charges? Performance-based fees? Want to understand the terms in a bit more detail? Here’s our explanation for these standard industry terms:

This fee varies between funds. It covers Booster’s administration and investment management fees, the Supervisor’s fee, and the regular costs and expenses of running the Booster KiwiSaver Scheme (such as audit fees and legal fees). It is calculated daily as a percentage of the net asset value of the fund and paid monthly.

This fee also covers the fees of any funds that the Booster KiwiSaver Scheme funds invest in. Separate performance-based fees apply if a particular fund also invests in Booster Tahi LP.

Because the manager of Booster Tahi LP is Booster Funds Management Limited, and it may receive a performance fee based on the returns of Booster Tahi LP, 0.50% of Booster’s annual management fee will be rebated on the amount invested in Booster Tahi LP.

Applies to:

All funds

Some funds may invest in Booster Tahi LP.

Booster Tahi LP is a limited partnership which invests in private (or unlisted) small to medium-sized New Zealand companies.

The manager of Booster Tahi LP is paid a performance fee and an estimate of these annual fund charges is 0.05% per year.

Applies to:

Moderate, Balanced, Balanced Growth, High Growth, Shielded Growth and Geared Growth Funds

This fee is up to 0.50% of any net foreign exchange transaction and may be charged directly or indirectly to Booster KiwiSaver Scheme funds that invest in funds managed by Booster.

It is deducted from the relevant fund or underlying fund and, as a result, reduces the unit price of each fund.

Applies to:

Capital Guaranteed, Moderate, Balanced, Balanced Growth, Socially Responsible Investment Balanced, Socially Responsible Investment Growth, High Growth, Shielded Growth, Geared Growth, Trans-Tasman Share and International Share Funds

This fee is worth 1.1% p.a. of the geared component (the amount borrowed) of the Geared Growth Fund. It does not apply to any other fund.

It is calculated daily as a percentage of the geared component of the Geared Growth Fund and deducted each month.

Any interest paid on the geared component (the amount borrowed) is also deducted from the Geared Growth Fund

The fee and interest costs are deducted from the Geared Growth Fund and, as a result, reduces the unit price of the Geared Growth Fund.

Applies to:

Geared Growth Fund

For more info on fees and charges, download the relevant Booster KiwiSaver Scheme Fund PDS.