APRA fund launches DIY investment option
In light of the rise of SMSFs, Local Government Super (LGS) has launched a DIY investment option for its members.
In an announcement yesterday, LGS said the DIY investment option enables members to invest in shares from the ASX300, exchange-traded funds and term deposits.
“The rise of SMSFs 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,” said LGS chief executive officer Peter Lambert.
“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.
“We have developed our DIY investment option to provide investment choices while delivering the level of service, administration and compliance that our members have grown to expect.”