Member Direct investment option FAQs for ASX 200 Members
What is the difference between the AustralianSuper ASX 200 Shares and Member Direct investment options?
The Member Direct option
The Member Direct option will give you even more choices and greater control over your super than the ASX 200 option. It offers:
- More investment choice: the Member Direct option enables you to choose from all the stocks in the S&P/ASX300 Index plus a selection of Exchange Traded Funds (ETFs) and term deposits. You can also switch between your other AustralianSuper investment options
- Easy to use online platform: the Member Direct option has a sophisticated online platform with a transaction account, so there are no paper-based transactions
- Real-time trading: you can track share prices and place trades at any time during the ASX trading day through the Member Direct online platform
- Comprehensive research and tools: the Member Direct online platform includes a wide selection of online reports, charts, market data and independent stock research
Compare the features
How much does the AustralianSuper Member Direct investment option cost?
The following fees apply to the AustralianSuper Member Direct option:
1. Portfolio administration fee –the Member Direct option has a portfolio administration fee of $15 per month ($180 per annum). For members of the ASX200 option, this fee applies from 29 May 2012, or when you make your first ‘buy’ order in the Member Direct investment option – whichever happens earlier. The portfolio administration fee will be automatically deducted from your transaction account on the first of each month.
Your portfolio administration fee provides access to the Member Direct online platform and includes 20-minute delayed ASX pricing, live stock quotes and Thomson Reuters news, company and market data. Members can upgrade to the premium Thomson Reuters data service at any time for an additional $5.12 per month.
2. Brokerage for shares and ETFs - A flat fee applies to the first $5,000 of your trade. Scaled cumulative brokerage rates apply to each component of your trade above this, at the levels set out below.
| Transaction amount |
Brokerage fee* |
| $0 to $5,000 |
$15.00 |
| $5,001 to $10,000 |
0.30% |
| $10,001 to $30,000 |
0.20% |
| $30,001 to $50,000 |
0.16% |
| $50,001 + |
0.12% |
*The above rates exclude GST
Here's an example:
Different brokerage rates will apply to each component of your trade value above $5,000, based on the above levels. For example, if you placed a $35,000 trade your total brokerage would be $78.00. This is calculated as follows.
| Trade component |
Brokerage fee |
Total |
| First $5,000 |
$15.00 |
$15.00 |
| $5,001 to $10,000 |
0.30% x $5,000 |
$15.00 |
| $10,001 to $30,000 |
0.20% x $20,000 |
$40.00 |
| $30,001 to $35,000 |
0.16% x $5,000 |
$8.00 |
| Total brokerage |
|
$78.00 |
3. Management costs – you also pay an AustralianSuper administration fee of $1.50 per week and investment fees for your chosen AustralianSuper investment options. Investment management costs vary depending on the investment option you choose. For details of the management fees for the ETFs available within the AustralianSuper Member Direct investment option please visit the iShares website
Other fees may also apply. Please read the AustralianSuper Product Disclosure Statement and Investment Choice Guide for more information on fees.
When do the new fees apply to the Member Direct investment option?
For members who were previously in the ASX 200 shares option the portfolio administration fee of $15 per month won’t apply until 29 May 2012, or when you place your first ‘buy’ order in the Member Direct investment option – whichever happens earlier. So, if you like you can register for the Member Direct investment option and explore its features for the same cost you pay now ($39 pa) until 29 May 2012 unless you make an investment.
If you don’t register for the Member Direct investment option by 29 May 2012 and you still own shares, the monthly portfolio administration fee and terms conditions will automatically apply to your account.
Do I need to sell my shares if I don’t want to participate in the Member Direct investment option? If so, when?
Any shares you owned in the ASX 200 Shares option on 21 November 2011 have been transferred into the Member Direct investment option. If you don’t want to participate in the Member Direct investment option you’ll need to:
- register for the Member Direct investment option
- sell your shares on the online platform
- close your Member Direct account.
If you do this before 29 May 2012 you won’t pay any additional administration fees.
If you have less than $10,000 in your account you will be unable to register for the Member Direct investment option. Please contact us on 1300 300 273 if you want to sell your shares.
What if I register for the Member Direct investment option and decide I don’t want to participate?
You can close your Member Direct investment option at any time on the Member Direct online platform. If you’re an existing ASX200 Shares member you won’t pay any additional fees if you close your account before 29 May 2012, unless you have placed a buy order.
How do I sell my ASX 200 shares?
If you want to sell your shares you will first need to register for the Member Direct investment option. You can then sell your shares from the Member Direct online platform.
If you have less than $10,000 in your account you will be unable to register for the Member Direct investment option. You will need to instruct us to sell your shares on your behalf.
What happens if I don’t register or sell my shares?
If you don’t register for the Member Direct investment option by 29 May 2012 and still own shares, the monthly portfolio administration fee and terms and conditions will automatically apply to your account.
When can I start investing in S&P/ASX 300 shares, exchange traded funds and term deposits?
- You can start investing in shares, ETFs and term deposits after you register for the Member Direct investment option from 28 November 2011.
- You’ll need to have the funds available in your Member Direct transaction account.
- You may have already nominated an amount on the ‘Move money into your Member Direct transaction account’ form we sent you – this will be available in your transaction account once you register
- You can also top up your transaction account using the cash transfer feature on the online platform.
- Cash transfer requests received by 11.59pm on a Sunday will be processed the following Monday.
How do I register for the Member Direct investment option?
You access the Member Direct investment option through an online platform. This platform is different to your online AustralianSuper account so you need to register and create a separate log in.
How do I transfer cash into the Member Direct investment option?
We automatically transferred the amount you nominated on the ‘Move money into my transaction account’ form or the $200 minimum into your Member Direct transaction account.
You can top up your transaction account once you have registered for the Member Direct investment option using the cash transfer feature on the online platform. Cash transfer requests received by 11.59 pm on a Sunday will be processed the following Monday.