Super Funds plan to list products on new ASX system which even SMSF’s could purchase

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Super Funds list products

Some of the country’s biggest superannuation funds are drawing up plans to list their products on the Australian Securities Exchange’s (ASX)new managed funds platform in an effort to tap into the fast-growing self-managed sector. Hostplus, which boasts $9 billion of assets and close to 1 million members, is understood to be among those looking at the new system, which will allow individual investors to buy and sell units in managed funds, including Australian and international equities and bonds, in the same way as shares. The platform, due to be launched in the second quarter of 2012, is designed to cut drastically the cost of acquiring and redeeming units in managed funds and broaden the distribution of the investment products, particularly to self-managed superannuation fund trustees. The super funds are particularly keen to tap into the fast-growing do-it-yourself sector, which, with $400 billion of assets accounts for nearly a third of Australia’s retirement savings.

As reported 12 January 2012, Sally Patten, The Australian Financial Review, page 37

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One Response to Super Funds plan to list products on new ASX system which even SMSF’s could purchase

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