Through an online platform, eligible members can invest directly in companies in the S&P/ASX 300 index, 16 exchange-traded funds, and term deposits from two banks.
In an announcement yesterday, Cbus stated it is proposed that Cbus’s self-managed option will expand investment asset classes to include property and infrastructure.
Cbus chief executive David Atkin said the fund is responding to consumer expectations by offering the control and flexibility features of SMSFs.
“There is a small cohort [of members] 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,” Mr Atkin said.
“They can enjoy the flexibility to do this while continuing to have access to the administrative and compliance services that the fund provides.”
A Self managed investment option to give control and flexibility. The option will allow an increased level of investment flexibility for the member but it will NOT provide a greater level of control for the member. Control as with all industry and retail funds still rests with the trustees of the fund who are not the members. Only in a SMSF can the members, who are also the trustees, truly have control of their funds. This is never more evident than when a member dies and you try and have the funds paid out promptly to the members beneficiary under the beneficiary wishes. Only when you have gone through all the stress and aggravation of completing needless amounts of paperwork & the time for the trustees to make their decision, even where a binding death benefit nomination is in place do you finally realise you do not have control of your superannuation money.
At this point you understand what having true control of your superannuation fund really means & why SMSF are popular.