Industry fund Cbus today launched the Cbus Self Managed investment option designed for Fund members who have the time and desire to take control in constructing their own superannuation strategy and investment portfolio.
Through the user-friendly online platform, eligible accumulation members can invest directly in:
• companies in the S&P/ASX 300 Index,
• 16 Exchange Traded Funds from Vanguard, iShares and State Street, and
• term deposits from National Australia Bank and ME bank.
The option is available to members who have $40,000 or more in their Cbus account and have a basic understanding of investing, including the key elements of risk and return and the concept of diversification.
Cbus CEO, David Atkin, said the fund was moving with the market and consumer expectations, by offering some of the control and flexibility elements of self managed funds while providing the benefits of a large mutual.
“We understand that for the vast majority of Cbus members they expect the Fund to manage their superannuation and will want to stay in the default Cbus Growth (MySuper) or other standard investment options” said Mr Atkin
“However, there is a small cohort who want to have a greater say in managing the spread of their investments and are prepared to pay a bit extra to do so.
“They can enjoy the flexibility to do this while continuing to have access to the administrative and compliance services that the Fund provides.
“The Cbus Self Managed option will provide those who choose to make their own investments with an intuitive online investment platform, furnished with investment research from UBS.
“The Self Managed option also ensures that members maintain diversification for example no more than 10% can be allocated in any one listed investment and not more than 80% of the total account balance. Additionally $10,000 must be kept in other standard Cbus investment options to ensure their account remains functional.
“We encourage those members who want to take up the Self Managed option to read the Cbus Self Managed Investment Guide to consider the benefits and risks of direct investing and obtain financial advice, through Cbus’ referral services to a Certified Financial Planner sourced under our Professional Practice Referral Program with the Financial Planning Association (FPA) of Australia” said Mr Atkin
In development for 2015 it is proposed that Cbus Self Managed will expand investment asset classes to include property and infrastructure and will be made available to income stream members.
