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VicSuper improves investment flexibility for members
VicSuper has launched member direct investment options and switched to daily unit pricing to facilitate flexibility in members' choice of investment.
Its Australian Shares option invests in listed companies on the Australian Stock Exchange (ASX) and utilises investment managers that integrate environmental, social and governance factors into their investment process.
Members can source term deposits through the fund's relationship with NAB on a three, six, nine or 12-month term.
The fund's move to daily unit pricing at the start of the year will facilitate flexibility in switching investment options for VicSuper members from February onwards, it said.
"Daily unit pricing will place VicSuper in a strong position to tackle future challenges and will ensure greater efficiencies and transparency are delivered to members," VicSuper chief executive Michael Dundon said.
"We're pleased to expand our range of investment options. By providing greater choice and control for our members, we aim to help them achieve the best possible outcome for their retirement."
VicSuper moved from monthly credit rates to daily unit pricing to increase transparency in its pricing methodology.
A 2011 SuperRatings report found that 71 per cent of super funds in Australia used unit pricing to apply investment returns to member accounts, with 29 per cent opting for credit rates, VicSuper said.
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