Tap into your inner investor and take control of your investments with our self-managed investment option.
What is Member Direct?
Member Direct offers you more control and choice over the investment of your super or retirement income. Through the Member Direct investment option you can invest in shares, Exchange Traded Funds (ETFs), Listed Investment Companies (LICs), Term Deposits and cash through an easy-to-use online platform.
You also get access to real-time trading, market information, independent research and investment tools to help you make informed investment decisions and manage your portfolio. Member Direct investment option suits members who want to be actively involved in managing their investments.
How does it work?
You make your own strategy by investing in your choice of:
- shares in the S&P/ASX 300 Index
- Exchange Traded Funds (ETFs)
- Listed Investment Companies (LICs)
- term deposits
To invest you will need to open a cash account, which works like an online bank account and earns a competitive interest rate on the cash that is held in the account.
You transfer money from your other AustralianSuper investment options into this account, and then use this money to invest. You can also do the reverse and transfer money from the cash account back into your other AustralianSuper options.
Eligibility criteria apply before you can invest in the Member Direct investment option and there are important conditions you must comply with when you invest in the option. Refer to the Member Direct guide for more information.
Features
Control and flexibility
You can tailor your investment strategy by combining the options you choose in shares, ETFs, LICs, term deposits and cash with the investments AustralianSuper make on your behalf in other investment options.
Less paperwork
AustralianSuper takes care of all the administration, compliance and reporting requirements, so you don’t have to.
Lower costs
There aren’t any set-up costs and ongoing fees are lower compared to average operating costs for Self-Managed Super Funds1.
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Guides, forms and fact sheets (4)
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Fees and costs
The fees and costs that apply to Member Direct vary depending on which option you select:
OPTION ASSETS YOU CAN INVEST IN USING THIS OPTION Portfolio Administration fee1 Brokerage fee Cash Account Cash only $30 pa Nil Term Deposits2 Cash and Term Deposits $120 pa Nil Shares, ETFs & LICs Cash and Term Deposits and ASX 300 Shares, EFTs & LICs $180 pa If you buy and sell shares, ETFs and LICs, Brokerage fees will apply.
Refer to Brokerage fees below.
1 Your Portfolio administration fee is determined by the option you select and not by the type of assets you hold. If you no longer hold the core asset type, you can reduce this fee by selecting a different option at any time via the platform.
2 If you redeem your Term Deposit(s) prior to their maturity date penalties will apply. Refer to the table on Term Deposit costs below.
The Portfolio administration fee is deducted directly from your Member Direct Cash account in arrears on the first business day of the following month based on the number of days in the month.
Brokerage fees
When trading shares, ETFs and LICs, Brokerage fees will apply on each trade as follows:
TRADE AMOUNT BROKERAGE FEE (INCL GST LESS RITC) $0 to $13,000 $13 $13,001 + 0.10% Brokerage fees are deducted directly from your Member Direct Cash account when trades are settled.
The Fund claims a Reduced Input Tax Credit (RITC) of 75% on the GST component of any Brokerage fees and passes the benefit on to you in the form of a lower Brokerage fee deducted from your account (reflected in the amounts in the table above).
Term Deposit costs
If Term Deposits are redeemed prior to their maturity date, the effective rate of interest will be reduced depending on the time invested as follows:
TIME INVESTED (% OF TOTAL TERM)
INTEREST RATE REDUTION
0 to 50
50%
>50
20%
Other fees and costs
If you hold ETFs and LICs, underlying fees and costs will be charged by the product issuer. Refer to the issuer’s website and relevant disclosure documents for the latest fee and cost information.
You will also be charged administration fees and costs for your AustralianSuper account, including on any assets held in Member Direct, and investment option fees and costs will apply for any PreMixed or DIY Mix options you hold.
The Member Direct investment option is not available in TTR Income accounts.
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Interest rates for Cash account and term deposits
Cash account
The current interest rate for the Member Direct Cash account is shown below. Please note that this rate is gross of any tax that may be applicable.
Cash account as at 19 April 2024 5.25% pa Cash account interest is accrued daily and credited directly to your Member Direct Cash account monthly in arrears, on the first business day of the following month.
Term deposits
The interest rates for term deposits currently available within the AustralianSuper Member Direct investment option are shown below. Please note that these rates are gross of any tax that may be applicable.
Interest rates current as at 19 April 2024:Term deposit INTEREST RATE (%PA) Duration ME Bank National Australia Bank 90 Days 4.95 4.85 180 Days 5.00 4.95 365 Days 4.90 4.95 Interest on term deposits is accrued daily and credited directly to your Member Direct Cash account at the date of maturity.
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Seamless Transfer to Choice Income
You can now maintain your Member Direct investments when you move your super balance to a Choice Income account. By requesting a Seamless Transfer to Choice Income you don’t need to sell-down and re-purchase your investments, avoiding transaction costs and market risk. More importantly, by using Seamless Transfer, you do not trigger a tax event or incur brokerage costs.
- ATO self managed super funds statistical report - the latest copy is available at www.ato.gov.au/individuals-and-families/super-for-individuals-and-families/self-managed-super-funds-smsf/in-detail/statistics/annual-reports
- Personal financial product advice is provided under the Australian Financial Services Licence held by a third party and not by AustralianSuper Pty Ltd. Some personal advice may attract a fee, which would be outlined before any work is completed and is subject to your agreement. With your approval, the fee for advice relating to your AustralianSuper account may be deducted from your AustralianSuper account subject to eligibility criteria.