The Australian Prudential Regulation Authority (APRA) has authorised legalsuper for MySuper.
Chief executive, Andrew Proebstl said the fund would be ready to launch its new default product on 1 July.
"We are delighted to have obtained our MySuper licence and are pleased to be one of a small group of funds that have received this licence ahead of the 1 July 2013 start date for the new regime," he said.
"Members who are required to be transitioned into the new MySuper product will continue to benefit from the products and services that legalsuper delivers to those working in the Australian legal profession."
The $1.6 billion industry fund recently launched direct investment options for its members.
Australia’s second-largest super fund has confirmed it is expanding its presence in the UK following significant investment in the region.
A member of the super fund has approached ASIC to investigate potentially misleading or deceptive representations by UniSuper regarding the holdings of its sustainable portfolios.
The median growth fund delivered 1.9 per cent in March, adding to the “stunning” rally that has seen super funds gain 11 per cent since November.
Vanguard has affirmed its support for the current super performance test, emphasising the importance of keeping the process straightforward.
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