Local Government Super has announced a do-it-yourself (DIY) investment option where members can build their own portfolios from the super fund's investment options.
Members can build their retirement investment in the form of shares from the ASX300, a range of exchange traded funds, and term deposits.
Accumulation scheme and account-based pension plan members with at least $10,000 in their accounts can invest in the DIY investment option.
"The rise of self-managed super funds (SMSF) has been a feature of the superannuation landscape for some years now, stemming from people's natural desire to have control of their own financial futures," LGS CEO Peter Lambert said.
"However the fact is that managing your own super fund is not easy. Even aside from investment choice, there are considerable administrative and compliance burdens to be navigated."
The DIY investment option comes with security, compliance and administrative services, along with the choice of an SMSF, Lambert said.
Jim Chalmers has defended changes to the Future Fund’s mandate, referring to himself as a “big supporter” of the sovereign wealth fund, amid fierce opposition from the Coalition, which has pledged to reverse any changes if it wins next year’s election.
In a new review of the country’s largest fund, a research house says it’s well placed to deliver attractive returns despite challenges.
Chant West analysis suggests super could be well placed to deliver a double-digit result by the end of the calendar year.
Specific valuation decisions made by the $88 billion fund at the beginning of the pandemic were “not adequate for the deteriorating market conditions”, according to the prudential regulator.