The $5 billion hospitality, tourism and leisure fund HostPlus will add another pre-mixed investment option to its three existing pre-mixed options in April as it offers more choice to members.

The new option will have a 50/50 split between growth and defensive assets. This is less aggressive than the existing balanced pre-mixed option, which has a 72/28 split between growth and defensive assets. But the new option will not be the fund’s default investment option. Hostplus also offers five sector investment options and 12 individual manager options. “We just wanted to simplify the choice for the members if they are looking for a true balanced option,” Umberto Mecchi, HostPlus national marketing manager, said. Also from January members can pay fees from their account to the fund’s financial planning partner Industry Funds Financial Planning, so long as the advice is superannuation-related.

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