In a first for a not-for-profit super fund, the 1.2 million member Hostplus industry fund has opened some of its investment options to self-managed super funds in a significant move to tap into one of the fastest-growing super segments.
Retail super funds – those run by the major banks and big insurers – have become less of a threat to the industry super giants, with afollowing the damning revelations at the banking royal commission. While Hostplus will continue to offer its direct option, Choiceplus, it is allowing those with their own super fund to invest a minimum of $10,000 in six of its "Self-Managed Invest" options, without having to become a member of the fund.
The options available to SMSFs include Hostplus' flagship Balanced option, which produced the best return of all "MySuper" balanced investment options in the past financial year, and its low-cost Indexed Balanced option.The Balanced option also topped the performance tables over three, five, seven and 15 years, according to industry researcher SuperRatings.
jcollett_money But hostplus doesn't want to return my money
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