Members of the $1.5 billion industry superannuation fund, Club Plus Super, can now directly purchase term deposits, exchange-traded funds and shares via the fund’s new online investment and administration platform.
For only $15 a month plus brokerage fees, members can invest in one, three, six and 12-month deposits and trade stocks on the S&P/ASX 300 Index as well as a selection of ETFs.
The MemberAccess platform, which is built on Macquarie Group’s Macquarie Wrap technology, gives the fund’s more than 100,000 members greater freedom over how their money is invested, said Club Plus Super’s head of marketing, Stefan Strano.
The super fund is also considering a direct property option as well as building a comparator tool to help members track the performance of their investments against the average MySuper fund.
According to Strano, holistic financial advice will also become an increasingly important part of the industry fund’s value proposition. Club Plus Super currently employs three advisers but has plans to grow that business.
“The direct investment option gives members the ability to manage some of their own super or pension while retaining access to existing administration and service benefits,” he said.
“The new platform will provide our members with greater control over their super, enhanced online functionality and a range of new investment options, with associated support and administration.”
Club Plus Super launched a term-deposit investment option for pension and super members in March 2012, which has accumulated over $100 million.
“Industry funds are good at understanding their memberships and 18 months ago, when interest rates were higher, our members wanted direct term deposits, which was phase one of this project,” Strano said. “Phase two was the launch of the platform and the new investments, and phase three will potentially be direct property and a new calculator.”