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Club Plus chooses term deposits over shares
Club Plus Super chief executive Paul Cahill said superannuation members nearing retirement were unhappy with high allocations to shares in their super funds.
They require alternative investment options like term deposits, he said.
Cahill said CoreData research that surveyed Australia's wealthiest investors found Australian shares had lost favour.
"This research confirms what we've been hearing from many of our members nearing retirement for some time, share markets are simply not delivering the performance they require to meet their retirement goals," he said.
Cahill said Club Plus offers members the option of 'locking-in' returns by investing in term deposits.
"We empower our members with superior investment options that achieve the best path for their working lives and retirement," he said.
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