OnePath has announced the launch of a new range of ANZ term deposits to cater for cautious investors, according to ANZ general manager for superannuation and investments Craig Brackenrig.
"Investors are hesitant to invest under current market conditions. In this environment investors are risk averse and are looking for secure cash options," said Brackenrig.
The new term deposits will be offered through the OneAnswer platform, and will offer terms of three, six and 12 months or two, three and five years, Brackenrig said.
The OneAnswer platform has also been enhanced, and will include a "seamless and automated super to pension transfer capability," according to OnePath.
"Our key focus is to ensure the OneAnswer investment platform delivers on its promise of being one of the most competitive and reliable investment, super and pension offerings available," Brackenig said.
The research house has offered a silver lining after super fund returns saw the end of a five-month streak last month.
A survey of almost 6,000 fund members has identified weakening retirement confidence, particularly among those under 55 years of age, signalling an opportunity for super funds to better engage with members on their retirement journey.
The funds have confirmed the signing of a successor fund transfer deed, moving closer to creating a new $29 billion entity.
A number of measures, including super on Paid Parental Leave, funding to recover unpaid super, and frameworks to encourage investment in the energy transition, have been welcomed by the superannuation industry.
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