Industry fund offers ‘core satellite’ approach
Queensland construction industry fund BUSSQ has moved to offer a Core and Satellite investment model to members with timing acknowledging the looming implementation of pay day superannuation.
The fund’s offering is being marketed as “Foundation + Flex” with BUSSQ claiming it will allow members to “build with us or build their own investment strategy”.
Announcing move, BUSSQ chief executive, Damian Wills said that members could effectively choose their Foundation investment option and then add Flex options such as more growth assets or defensive assets to personalise their portfolio and their comfort with risk.
He said the introduction of the approach was the latest step in a multi-year strategy to simplify the fund’s product offering
“Last year we made it easier for members to choose investment options that aligned with their risk profile by adding investment choices to our MySuper product,” Wills said.
“Streamlining the two products, and now offering this core and satellite investment model, simply means our members have more choice and control should they want it. It’s about reframing super as something to engage with today, rather than waiting until they’re almost at the finish line. And because we’re a small fund, we’ll be right there helping our members if they need support to make these decisions,” he said.
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