Fees and other costs

Being a not-for-profit industry fund, CSRF’s fees are based on what is required to operate the Fund. The following table shows fees and other costs that you may be charged. These fees and costs may be deducted from your money, from the returns on your investment or from the fund assets as a whole.

You should read all of the information about fees and costs because it is important to understand their impact on your investment.

Type of fee or cost Amount How and when paid Fees when your money moves in or out of the fund Establishment fee: The fee to open your investment Nil N/A Contribution fee: The fee on each amount contributed to your investment­—either by you or your employer Nil N/A Withdrawal fee: The fee for each lump sum withdrawal $35 per transaction Deducted from your account balance when you transfer or withdraw all or part of your investment account balance from the Fund. Termination fee: The fee to close your investment Nil N/A Management costs The fees and costs for managing your investment. The amount you pay for specific investment options is shown below $1.25 per week for all members plus estimated other costs of 0.16% pa of your account balance plus estimated investment costs of between 0.07–0.81% pa of your member balance The $1.25 per week is automatically deducted from your account monthly at on the last day of each month. The other costs are deducted from the fund assets as a whole before the unit price is determined. They are therefore reflected in the unit price. Investment option: Estimated at: These are the estimated investment costs you pay for specific investment options. Diversified Shares 0.63% pa Growth 0.72% pa Balanced 0.68% pa Socially Responsible Balanced 0.74% pa Conservative 0.49% pa Australian Shares 0.47% pa International Shares 0.81% pa Diversified Property 0.68% pa Diversified Fixed Interest 0.32% pa Cash 0.07% pa Service fees1     Investment switching fee: The fee for changing investment options Nil N/A

• A Family Law withdrawal fee of $70 is charged when a withdrawal is made from a member’s account. The fee is split equally between the member and the spouse. The withdrawal fee shown above is charged where a contributions split involves a withdrawal from your account.
• The member fees include general operating expenses incurred by CSRF. The estimated other costs include custody fees, consulting fees and other expenses.
• The management and investment costs in the table above include an estimate of the Performance Based Fee (PBF) for each investment option. The extent of any PBF cannot be determined in advance. The amount of any PBF is calculated according to the amount of out-performance by the investment manager and the weighting of that investment manager in the relevant investment option. An estimate of the PBF for each option is included in the following table.

Investment option Estimate PBF Diversified Shares 0.05% Growth 0.06% Balanced 0.06% Socially Responsible Balanced 0.03% Conservative 0.04% Australian Shares 0.04% International Shares 0.07% Diversified Property 0.02% Diversified Fixed Interest 0.03% Cash Nil

• Refer to the current Product Disclosure Statement for more details relating to insurance premiums and taxes.
• The benefit of any tax deduction is passed on to members in the form of a reduction in the contributions tax you pay. All fee calculations are inclusive of GST. Reduced input tax credits have been incorporated into the administration costs.
• Adviser remuneration does not form part of any fee or cost in the table. CSRF has no advisor service fees. 
• There is a buy/sell spread charged when CSRF purchases or sells underlying assets. An estimate for each investment option is shown in the following table. This buy/sell spread is variable and applies to contributions or investment switches and is deducted from the amount that would otherwise be available to you.

Investment option Buy/Sell spread Diversified Shares 0.50% Growth 0.60% Balanced 0.58% Socially Responsible Balanced 0.44% Conservative 0.28% Australian Shares 0.32% International Shares 0.70% Diversified Property 1.44% Diversified Fixed Interest 0.00% Cash 0.00%

• Investment costs are estimates based on the asset allocation as at February 2008. The estimated investment costs above may change throughout the year due to timing, cash flow, changes in the investment manager line-up, changes in asset allocation and other factors.
• All fees are current and may be revised or adjusted by CSRF from time to time. CSRF may also introduce new fees. If there is an increase in fees, the Trustee must notify you 30 days in advance of the change.

Member protection restricts the amount of administration fees and other costs that can be levied on super account balances of less than $1,000. Small balances will be affected by deductions such as the Commonwealth Government’s 15% contributions tax, applicable insurance premiums, or possibly poor investment returns.