Hi All,
Looking at investing in Spaceship universal. Read some reviews of people saying it’s dodgy and run by marketing guys with no financial knowledge.
Also they don’t tell you how many actual units you own.
Anyone have any feedback or comments?
Thanks.
Have used it for a couple of years, haven't had any problem. A boffin developer at work has changed his Superannuation to it; I'll have to get an update from him.
The fees for super is bad. Reason is they don't have their own licence and need to leverage off another firm. Super has way too much compliance overhead.
I'm in their normal investment, not their super.
Reason is they don't have their own licence and need to leverage off another firm.
Are you saying that the management team is tech guys playing dress up in suits with no financial qualifications? That is a cause for concern.
They started out on the floor below us in the Sydney CBD and now manage $250 million+ for 125,000 customers.
Their super platform is great, returns spectacular and growth easy to track. .
Only minor problem is that they don't bundle life insurance with it like many other super funds do, but the returns far outweigh this additional cost, if indeed you need life insurance at your age.
Nope.
I just said the fees are higher due to compliance requirements.
Also they don’t tell you how many actual units you own.
In the phone app. Account > Transaction history
Looking at investing in Spaceship universal. Read some reviews of people saying it’s dodgy and run by marketing guys with no financial knowledge.
Marketing guys usually don't have financial knowledge. Finance guys don't have marketing knowledge. If you find one that knows everything hold onto them, if you can afford it.
My only advice is don't put all your money in the one basket. Diversify. Even if the deal is too good.
look in Accounts / Transaction / Summary for units on app.
-> run by guys with no financial knowledge
my portfolio up 25% … Iunno seems ok to me.
The folks saying it's dodgy don't know what they are talking about. I invest $280 a month in there, have made about 30% returns so far. It's easy enough to get your money out if you want it.
Even if it is "run by marketing guys" they still have people working for them that have financial knowledge. The founders/owners don't need to be experts in every facet of what they do, that's why they hire other people.
And they definitely tell you how many units you own.
Well they've essentially bought all the best tech firms stocks. If you were a monkey and chucked some darts at FAANG+ board then you too would be up 30%.
But in saying that I have put in some money to play around with. I have zero issues with someone making plays for me whilst I put my time/energy towards researching other share picks.
You can throw darts at a board but you need the money to get an AFSL and be able to amass funds under management.
It's a set and forget investment for me. I have my own shares which are up 45% in the 12 months (mostly Australian blue chips), but if I had put the same cash in Spaceship at the same time it would be neck and neck.
Also worth noting that it is not just tech stocks (I'm in the Universe Portfolio). Nike, Starbucks, Berkshire Hathaway, Cleanaway, CSL. There is a fair bit of diversity in there, it is majority in tech, but that's definitely not all they have done. I'm not sure about the Origin Portfolio.
Locked in a few $k before the US election, was up around 53.5% in the Universe Portfolio. Very legit company
Wish I'd kept the money in spaceship as it would've increase another 20+% since then.
One downside is the 4-5 days it takes for funds to move in and out of the account.
Has very low fees though, no fees for accounts under 5k.
I'm assuming shares/properties are increasing in value due to Gov'ts around the world printing cash like toilet paper.
Possible large scale inflation coming in the future.
They've changed the deposit times. Only takes a day now.
Depending on the amount - mine's been 2-3 business days.
I've let these financially illiterate marketers play with some money since 2018. They do alright: https://snipboard.io/tEnfhb.jpg
It's also fee-free if your balance is under 5k (correct me if wrong).
Spaceship (0.01% pa fee over 5k) or doing similar things yourself (ETF or some other combination) on SelfWealth ($9.5/trade)?
It seems Spaceship is very convenient while SelfWealth you have a bit more options.
I'm not sure if the fees over your lifetime for Spaceship would end up being more than SelfWealth? Might depends on how you are investing?
Any other pros and cons? I'm still trying to figure out which one might be better for me
I doubt fee over lifetime will be more. Unless you are investing in huge amount and do a once off for SelfWealth.
Pro with SW: CHESS sponsored, if something happens to SW, you still own the ETFs, while for Spaceship, it's not CHESS sponsored, in the event they go under, somebody will step in to sell the units for you (arguably this is also secure, because the assets are held separately by a custodian).
Pro with Spaceship: Less emotion involved, they decide what stocks they invest in, they may know better than you.
Yo quiero taco tambien.
Cheers, for the CHESS sponsored info. I think that's an important consideration.
In regards to fees, there will be a point in the future that the fees for Spaceship would be more than SelfWealth. It could be 10, 20, or 30 years, but it will happen as the fee is charged as a percentage per annum for any value over 5k. So while you get more money to invest early (due to not having to pay the $9.5 everytime) and therefore making gains on that, there is a point that SelfWeath will bypass Spaceship (assuming the same growth for both, which is a huge assumption). You can make up a scenario in Excel to see this.
🌮🌮🌮:)
Yup the scenario depends on how often you pay the $9.5 fee and the amount of investment though.
There's also ETF retail fund that you can look into, it has higher management fee but no ongoing brokerage to be paid.
If you invest $950 a year, that's already 1%, i.e. will take 10 years with Spaceship (less the fact no fee for <$5K).
If you invest 50k a year all at once, this is negligible but if you do 10k x 5 a year, this is around the point where you'd breakeven.
The brokerage fee may never be less than Spaceship's management fee if the frequency of purchases is high and the amount per purchase is low.
ETFs have fees on top of the brokerage. FANG is somewhat similar to Spaceship Universe and charges 0.35% management fees.
Summary
Spaceship Universe Portfolio
$239.82
Units
107.969641