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Kogan enters $2.7 trillion super industry

Stuart Condie

Online retailer is targeting a slice of Australia's $2.7 trillion superannuation industry with its own-brand fund.

Also read: Australia's housing downturn is worse than we thought, which has already branched out from its core retail operations into mobile communications, home internet and insurance, has signed a deal to distribute a March & McLennan-owned Mercer product under the Kogan brand.

The company claims the fund's fees will be among Australia's cheapest.

"This partnership will deliver a no frills superannuation offering with ultra-low fees that will enable Aussies to retain and preserve more of their personal wealth," co-founder David Shafer said in a statement.

Under the agreement, will provide the branding and marketing, while Mercer will operate the fund and provide customer service.

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There were 28.6 million superannuation accounts with $2.7 trillion in assets at June 30, according to Association of Superannuation Funds of Australia.