Kogan Shares Shares Slide, Now Has A Crack At Super
E-commerce giant, Kogan.com, has expanded its service portfolio, this time launching ‘no frills’ superannuation in partnership with Mercer – joining its NBN, mobile and insurance subsidiaries.
Disclosed to the ASX today, Kogan Super will leverage its parent company’s “digital efficiency”, with the view of becoming one of Australia’s cheapest superannuation providers.
The service is scheduled to debut “early 2019”, with further information released closer to launch.
Kogan.com Executive Director, David Shafer, asserts its collaboration with Mercer will enable Kogan Super to deliver ultra-low fees, and price leadership.
Ben Walsh, Mercer MD and CEO, claims the partnership marries Kogan’s e-commerce expertise with Mercer’s superannuation “know-how”.
“In an industry where scale and cost efficiencies count, this new alliance will enable Kogan to create value at a scale through their trusted brand and huge customer base,” adds Walsh.
With a local history over forty years, Mercer is considered one of Australia’s largest superannuation providers, with over US$1 trillion under investment advisement and more than US$240 billion in assets under delegated management globally.
The agreement will see Kogan.com provide branding and marketing services, whilst Mercer oversees “investment management, administration and customer service.”
Shares in Kogan.com have slipped over 3% after midday.
Further information is available in Kogan.com’s ASX announcement here.