BUSSQ is to offer a ‘Foundation and Flex’ investment offering from June, allowing members to build their own investment strategy.
The new approach will allow members to build with the fund or build their own strategy, aimed at providing member flexibility around their timeframe and risk profile.
It is billed as BUSSQ’s version of a ‘core and satellite’ approach used by investment and portfolio managers.
Members can choose their Foundation investment option and add Flex options such as more growth assets or defensive assets to personalise their portfolio and their comfort with risk.
Those who don’t wish to make an investment choice can remain in the fund’s Balanced Growth investment option, managed by BUSSQ’s team of investment experts.
CEO Damian Wills said: “Younger generations are also increasingly financially aware and with time on their side, they can afford to take more risk with their superannuation. The advent of Payday Super will also potentially help even more people see super in the same light as they see their pay – as something to be regularly managed.
“This coupled with the increase in housing prices, potentially putting home ownership out of reach, means super is likely to become the biggest asset at retirement for some people, so it’s natural that they would be seeking more control over where it’s invested. There is a realisation that this is their money and taking control today can make a real difference to the outcome at retirement.”
