From 1 March 2023, we're changing the fees that apply to the Spaceship Origin Portfolio (ARSN 623 312 087), the Spaceship Universe Portfolio (ARSN 623 321 022), and the Spaceship Earth Portfolio (ARSN 643 773 282) (Spaceship Voyager).
The new fee structure
We're lowering the fee we charge on a monthly basis from $2.50 to $2.
You are only charged this fee when you have at least one Spaceship Voyager portfolio with a balance of $100 or more.
The monthly fee will be deducted by redeeming units from your primary portfolio.
We’re also introducing a percentage-based management fee to our Spaceship Voyager portfolios:
- Spaceship Origin Portfolio: 0.15% pa of the net asset value of the fund
- Spaceship Universe Portfolio: 0.50% pa of the net asset value of the fund
- Spaceship Earth Portfolio: 0.50% pa of the net asset value of the fund
The management fee is calculated on the net asset value of each fund, and is reflected in the daily unit price.
All fees and costs are inclusive of GST and net of expected reduced input tax credits.
Why we’re changing our fees
Our new pricing structure will help us continue to build a business that lasts for years to come, with a pricing structure that is fair and equitable for our customers.
While for many of our customers this will mean a reduction in fees and costs, for customers with higher balances this will mean an increase in fees and costs.
We want you to know that changes such as these aren't taken lightly. This decision allows us to create a sustainable business so that we can reinvest into our technology, team, and product, while remaining one of the lowest cost micro-investment apps in Australia.
What else is happening?
We've got some exciting changes happening here at Spaceship.
Soon we'll be launching a brand new product that provides Spaceship customers with a simple and affordable way to invest in US-listed ETFs and stocks. We're also continuing to make updates and improvements to the Spaceship Voyager portfolios, Spaceship Super, our app and website. As with everything we do, these products and features are designed so young people can easily invest in their future.
What do I need to do?
You don’t need to do anything.
These changes will automatically be applied to your Spaceship Voyager account from 1 March 2023.
If you have any questions about these changes, check out our FAQs or contact our customer support team using the in-app chat or by emailing help@spaceship.com.au.
Example fees
If you've invested in the Spaceship Universe Portfolio and maintained a balance of $1,500 throughout the year:
Examples of when you would pay a fee
If you're signed up to any one Spaceship Voyager portfolio and have a balance of $0, you won’t pay the monthly fee or be charged the management fee.
If you've invested in the Spaceship Universe Portfolio and have a balance of $50, you’ll be charged the management fee of 0.50% per year. You won’t pay the monthly fee as your balance is less than the $100 threshold.
If you've invested in the Spaceship Universe Portfolio and have a balance of $500, you’ll pay the monthly fee of $2 and be charged the management fee of 0.50% per year.
If you've invested in the Spaceship Origin Portfolio and have a balance of $300 and you're also invested in the Spaceship Universe Portfolio and have a balance of $500, you’ll pay the monthly fee of $2 from one portfolio only, and be charged the Spaceship Origin Portfolio management fee of 0.15% per year (on your $300 balance) and the Spaceship Universe Portfolio management fee of 0.50% per year (on your $500 balance).