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Important changes to the MLC Cash Fund fees

We recently wrote to clients invested in the MLC Cash Fund explaining how the low interest environment may affect the performance of the investment and therefore their ability to meet their financial objectives.

We’re pleased to let you know that on 2 March 2020 we updated the fees for the MLC Cash Fund.

Changes to the Investment fee

The MLC Cash Fund will change from a variable investment fee to fixed investment fee as detailed in the table below.

  MLC Cash Fund
  Current variable investment fee disclosed Actual investment fee - Super Fixed investment fee Super/Pension
  As at 1 Janurary 2020* 2 March 2020
MLC MasterKey Business Super 0.25% pa 0.24% pa 0.24% pa

* This is based on the investment fee charged as at the date specified, which may change from the variable fee disclosed.

How are we telling employees

We’re required to write to all employees to explain the changes to the Cash Fund. Employees will receive letters between March and June 2020.

The MasterKey Business Super Product Disclosure Statement was updated on 2 March 2020, available here.