Australian superannuation startup Spaceship is looking beyond your super balance and has launched a new product offering called “Spaceship Voyager“.
Within Spaceship Voyager there are two investment options, the Spaceship Index Portfolio and the Spaceship Universe Portfolio, which allow users to start investing their savings with no minimum balance.
More importantly however, it appears as though Spaceship has learned their lessons from the past and launched both products with an extremely aggressive pricing plan. The new Spaceship Voyager products are free for balances of $5,000 or less. If you happen to take your balance above $5,000 then the fee is only 0.05 – 0.10% per annum.
For a $10,000 account balance, that’s only $2.50 to $5.00 per year.
There are no other fees associated with the product and you can withdraw your money at any time.
This new model also sees a shift away from the tech focused nature of the Spaceship Superannuation Fund. The first investment option, the Spaceship Index Portfolio is essentially a portfolio comprised of 200 of the largest companies from Australia and across the globe.
As a result there is still a large contingent of technology focused stocks such as Alphabet, Apple and the like. But you will also find well-known and established Australian companies such as Commonwealth Bank and BHP making an appearance as well. The top three sectors in this portfolio are Information Technology (19%), Financials (15%) and Healthcare (15%).
In addition to the Index Portfolio product, Spaceship Voyager have also released the Spaceship Universe Portfolio which is made up of 100 companies handpicked by Spaceship on the basis that they believe they are less likely to be disrupted.
This portfolio sees a larger technology focus with 45% of the sector allocation going to Information Technology. The top three positions are rounded out by Consumer Discretionary (20%) and Healthcare (15%).
Within the portfolio is again the likes of Alphabet, Apple, as well as companies like Netflix and Tesla. There are however some more interesting choices including Blackmores, Sydney Airport and Domino’s Pizza.
As with all investment products the proof will be in the returns generated by each portfolio. For the time being however Spaceship appears to have come out swinging at their critics with a low cost and low barrier to entry product that will likely appeal to their existing user base, as well as a wider contingent of supporters who weren’t quite ready to hand over their super balance.