Superhero has unveiled its new superannuation fund, Superhero Super, aimed at Australians seeking more transparency, without the need for a self-managed super fund (SMSF).
The new fund would give members direct access to their super to invest in Australian Securities Exchange (ASX)-listed shares, exchange-traded funds (ETFs), and listed investment companies (LICs), and the ability to invest in a way that reflected their values and beliefs.
The fund would also meet the demand for exposure to global and domestic investment opportunities without the cost and burden of a SMSF, the firm said.
Following this, members would be able to choose to invest directly in the top 300 ASX-listed shares, more than 150 ETFs or in a range of professionally managed index, sector and themed portfolios.
Superhero’s co-founder and chief executive officer, John Winters, said “Australians wanted transparency and they want control over how their superannuation is invested and a lack of transparency and investment choice left younger Australians feeling disengaged with their super despite being very engaged in other areas of their finances, with more young Aussies than ever investing in shares with their savings.
“We have been trained by the industry to blindly hand over 10% of our salary and then throw away the key for 30 years. We think it’s time to say no to this,” he said.