Are there brokerage fees?
No. Buying and selling interests in ETFs through the Spriggy Growth Portfolio is brokerage-free.
Is there an account fee?
The account fee is based on the invested balance of each child’s account and excludes cash held temporarily within the account's underlying cash-processing structure.
There is no account fee for an account balance from $0 to $10,000. Tiered account fee rates apply to balances over $10,000.
The account fee is calculated daily and paid monthly in arrears. Refer to the current PDS for the complete fee tiers and rates.
Are there costs within the portfolio?
Yes. The Spriggy Growth Portfolio currently has:
Indirect costs estimated at 0.277% per year of the portfolio balance
Underlying ETF transaction costs estimated at approximately 0.018% per year of the portfolio balance
These costs are reflected in the value of the underlying ETF units. They are not deducted directly from your Spriggy Invest Account.
Fees and costs may change. Additional fees or costs may also apply to use of the Spriggy app or other services provided by Spriggy or Rivva, as described in the Spriggy Terms and Conditions.
What happens to investment distributions?
Distributions received from investments in the portfolio are generally automatically reinvested after any applicable withholding tax is deducted.
There is currently no option to receive distributions as cash instead of having them reinvested. Some exceptions apply, including when a distribution cannot be reinvested within a reasonable time or the relevant investment is no longer held.
Reinvested distributions may still be treated as income for tax purposes.
Important information: This article provides general information only and is not personal financial or tax advice. Fees, costs and tax rules may change. Read the current PDS, TMD and Spriggy Terms and Conditions, available through the Spriggy app or at spriggy.com.au/terms.