This article is from the Australian Property Journal archive
CONSTRUCTION and building industry super fund Cbus has launched a new self managed investment option for its members.
Cbus CEO David Atkin said the fund was moving with consumer expectations, by offering some of the control and flexibility elements of self managed funds while providing the benefits of a large mutual.
He added that the option is available to members who have $40,000 or more in their Cbus account, who have the time and desire to take control of their own superannuation strategy and investment portfolio.
“The Self Managed option also ensures that members maintain diversification for example no more than 10% can be allocated in any one listed investment and not more than 80% of the total account balance. Additionally $10,000 must be kept in other standard Cbus investment options to ensure their account remains functional,” he added.
The Cbus SMSF option allows members to invest directly in companies in the S&P/ASX 300 Index, 16 Exchange Traded Funds from Vanguard, iShares and State Street, and term deposits from National Australia Bank and ME bank.
Whilst the option currently excludes direct property, Atkin said Cbus would look to change that in the near future.
“In development for 2015 it is proposed that Cbus Self Managed will expand investment asset classes to include property and infrastructure and will be made available to income stream members,” he concluded.
Property Review
