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BRIEF-Colonial First State Announces Fee Reductions Across Superannuation & Investment Platforms

Published 18/04/2019, 11:37 am
© Reuters.  BRIEF-Colonial First State Announces Fee Reductions Across Superannuation & Investment Platforms

April 18 (Reuters) - Colonial First State:

* SIGNIFICANT FEE REDUCTIONS ACROSS SUPERANNUATION & INVESTMENT PLATFORMS, REDUCING COST OF INVESTING FOR OVER 500,000 MEMBERS

* FY20 IMPACT ON NET PROFIT AFTER TAX IS EXPECTED TO BE ABOUT $45 MILLION

* REDUCTIONS WILL LOWER COSTS FOR MEMBERS ACROSS FIRSTCHOICE WHOLESALE PLATFORM, FIRSTCHOICE EMPLOYER SUPER

* COLONIAL FIRST STATE SAYS CHANGES PROJECTED TO RESULT IN TOTAL BENEFIT TO MEMBERS OF ABOUT $68 MILLION PER YEAR

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