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Telstra partners with UBS for new investment options
Telstra Super is working with international broker UBS to deliver its direct investment options to members by the second quarter of 2013.
'Direct Access' will include term deposits and shares and is aimed at giving more control to members. The investment option will roll out initially to accumulation members before being expanded to include an income-stream version.
In August, Telstra Super chief financial officer Christine Liosis said the fund had lost 71 per cent of its members to self-managed super funds and would roll out direct investment options in 2013 as a way to stem the outflow of members.
Telstra Super general manager development and distribution Kevin Moloney said the new investment option built on a number of initiatives the fund had developed for members over the year.
"We are excited to introduce the next phase of Telstra Super's long-range product development strategy, having already launched two new investment options, Defensive Growth and Diversified Income, as well as a successful health insurance alliance, all of which have received strong support from members over the past three years", he said.
According to Moloney, Direct Access would be underpinned by an integrated online and print communications and education program, as well as via the fund's face-to-face seminars, which fed into Telstra Super's responsibility to members to provide financial literacy tools.
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