Is there any product that Kogan (ASX:KGN) doesn’t want to get its hands on?

Beginning as an online retailer, Kogan has since moved into selling insurance, telecommunications, travel packages and now it has launched its very own superannuation fund.

“Our mission at Kogan.com is to bring Australians the products and services they need at some of the lowest prices in the market,” CEO Ruslan Kogan said in a statement announcing the launch.

“Kogan Super provides a no-frills, low cost, index-based offering with low fees enabling Australians to invest and grow their hard-earned money for the future.”

The fund will endeavour to compete in the crowded $2.7 trillion markets by minimising fees.

A Kogan spokesperson told Business Insider Australia that, for example, a $50,000 balance would incur combined fees of $335 a year. That would rank Kogan’s fees as the third-lowest in the country, according to superannuation research house SuperRatings.

The fund will offer Australians five investment options.

One will be a conservative approach holding cash and short-term interest investments, while four will use different combinations of index funds — investments that mirror the performance of specific stock exchanges.

For example, an ASX 200 index fund holds shares in the same 200 companies listed on the share market. Accordingly, the performance of the fund mimics how the broader market is faring.

These types of funds typically offer the lowest fees as they require no active management. In other words, index funds don’t need to pay someone to make regular investment decisions. Instead, they just hold shares of each company listed on a stock market.

Kogan isn’t the first low-fee super fund nor is it the first that allows Australians to invest in index funds, but it does think however it can undercut much of the market.

“By leveraging our digital capabilities and delivering the superannuation needs of Australians online, Kogan Super can substantially cut annual fees for account holders,” Kogan said.

Despite the audacity of the retailer, however, it knows its limits, leaving it to superannuation expert Mercer to administer the fund.

“Kogan.com is delivering the fund’s branding, marketing and online sign-up experience while Mercer will provide investment management, administration, and ongoing customer service for the fund,” a spokesperson told Business Insider Australia.

“By leveraging our digital capabilities and delivering the superannuation needs of Australians online, Kogan Super can substantially cut annual fees for account holders,” Mercer CEO Ben Walsh said.

Officially launching on Wednesday, Kogan will have to go back to the drawing board to find its inevitable next venture.

This article first appeared on Business Insider Australia, Australia’s most popular business news website. Read the original article. Follow Business Insider on Facebook or Twitter.