Industry fund expands DIY options
Local Government Super (LGS) has added 15 new exchange-traded funds (ETFs) to its DIY investment option in response to demand from its members for more control.
In a statement, LGS chief executive Peter Lambert said the move to add new ETFs was driven by its members' desire "for more choice and control" as well as for portfolio diversity.
The ETFs come from a variety of well-known ETF providers, including Vanguard, Russell Investments, BetaShares and Mr Lambert said.
"Our DIY investment option is for those members who want greater control in the way they manage their super investment," he said.
"ETFs are a popular and effective investment option, combining the investment advantages of a managed fund with the ease and cost-effectiveness of share trading.
"We've been keeping a close eye on what's available with a view to opening this door for more members who want to be more hands-on with their retirement savings," Mr Lambert said.
The LGS DIY investment option is intended to allow members to build their retirement investment using their "desired" mix of ETFs, ASX300 shares and term deposits.
"Our DIY option offers members all the security, compliance and administrative services you'd expect from a super fund but with wider choice and greater flexibility," Mr Lambert said.
"As time goes on, we will continue to listen and to refine our range of products and services to ensure we are always meeting our members' needs."
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