Disclosure of Fees in Australia

In Australia, legislation requires the disclosure in Australian dollars of fees and charges by pension plans and mutual funds.  The requirement applies to both establishing an account and ongoing fees, which must be disclosed on periodic account statements.  All fees and other expenses charged to individuals for the management of the investments in their retirement accounts must be disclosed. These include investment management, marketing, recordkeeping, and administrative costs, but do not include transactions costs for buying and selling stocks and bonds. When a pension plan or mutual fund provides a statement of the account activity over a period, which typically includes opening account balance, contributions, withdrawals, investment earnings, gains or losses, and end-of-period account balance, it also provides in Australian dollars the amount in fees charged to the worker’s account. 

Read this for further information about fee disclosure.