So, I saw an ad for Spaceship Super which is launching next month and decided to take a look.
They advertise up to 35% of the portfolio is invested in technology stock, as opposed to banks and mining, and promise transparency on which funds are included in your managed portfolio (they only have one product at the moment).
Most people have their Super overweight in the big 4 banks and BHP and yet, our generation has seen technology completely immerse itself in society. We’ve watched the five most valuable companies in the world become technology companies. Locally, we’ve seen companies like Atlassian start from scratch and grow to be more valuable than Qantas.
We use technology everyday. We use Snapchat way too often. We go home to Netflix. On weekends we’re in Ubers. When we go on holidays we’re using Airbnb. Yet, technology hasn’t spread through Super like it has society. At Spaceship, we aim to make that happen.
I'm currently with an industry fund and pay $1.50 per week for admin + 0.9% indirect investment costs, moving to Spaceship would keep the admin fee the same but increase the indirect costs are almost double at 1.6%.
Transparency is always a good thing when you are a customer and inspires trust, but as a new company without any previous history how can you assess the risk?
Just for balance, Myspace tanked after being bought out, theglobe.com was a billion dollar darling and barely launched (if it even did), Theranos is in the process of being one of the biggest scams in corporate history. Sounds a bit like bingo super to me.