NGS Super launches direct investment option
Industry fund NGS Super has launched a Mercer-backed investment platform in a bid to stem the leakage to the self-managed superannuation sector.
The decision to launch the new direct investment option came about as a result of numerous surveys of the fund’s membership, NGS Super acting chief executive Laura Wright told ifa.
"[When the results] came back it was not surprising that members wanted more investment options and more control over their investments," Ms Wright said.
"Quite clearly, putting in the [Mercer] platform is one way of dealing with that and we [will] start out with a range of products including shares and term deposits."
Once NGS Super members begin trading using the platform next week, the fund will start to assess the take-up and decide whether or not to expand the range of investment options, she said.
"We know that there’s been a pent-up demand for it because we indicated to members in the second half of last year that we were going to be introducing this platform," Ms Wright said.
A number of members have already transferred their funds into cash in anticipation of the launch of the new direct investment options, she added.
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