You also have the flexibility to switch your investment choice/s on a weekly basis.
Processing of PreMixed and DIY Mix investment switches
Applications to switch between investment options (except ASX 200 requests), made during the week are processed on the close of business the following Monday. Transaction details will appear on your account from Wednesday however, cut-off times apply:
- Paper applications - Close of business - Friday
- Online applications - Sunday midnight
Example
- A switch request is made on Thursday 14 February 2008 to switch from 100% Balanced to 50% Balanced and 50% High Growth Investment Option.
- The switch will be effective from Tuesday 19 February 2008.
- The member's account balance will be determined at the close of business Monday 18 February 2008 using the daily crediting rates for the Balanced Investment Option.
- The switch will show on your online account from Wednesday 20 February 2008.
How your account balance is calculated when a switch is made
If you make an investment switch, the daily crediting rates are used to calculate the switch amount (e.g. if you requested 50% of your account balance to move to a different investment option, the balance will include interest, which may be a positive or negative amount).
The interest calculated is based on the actual daily crediting rates. These rates are calculated on a daily compounding basis to establish the exact interest amount that is applied to your account. The rates are published on the following Wednesday after the switch which is effective on a Tuesday.
The amount allocated to your account is the actual investment return during the period that your money was invested in the investment option/s. Investment management fees, expenses and providing for provisions such as tax are deducted prior to the crediting rate being declared.
Switching your future contributions
When you request a change to the option/s in which your future contributions (including employer and member contributions, rollovers and transfers) are invested, the new instruction will take effect from the date it is received by the Fund. All new contributions into your account will then be processed into your future contribution option.
Buying/selling shares in the ASX 200 Shares Investment Option
ASX 200 shares buy and sell instructions are traded on the first trading day of each week. Settlement will occur two days later.
Applications to buy or sell shares must be received:
- If submitted by paper by 1 pm Friday.
- If submitted via MemberOnline by midnight Sunday.
Example
Buy/sell trade is submitted before midnight on Sunday 17 February, is traded on Monday 18 February and settled on Wednesday 20 February.
The buy or sell price for each stock will be the average AustralianSuper trade-weighted price for both buy and sell orders. A letter confirming the buy/sell price will be mailed to you.
You may apply for as many trades as you like, or change any pending trade not yet processed, up until the 1 pm Friday close-off time, or midnight Sunday on MemberOnline.
However, all trades will be processed once a week as outlined above and the last change made is the one that will be forwarded to the broker (Macquarie Equities Limited) for action. All previous instructions for that week will be disregarded.
If you are making your trade application using a paper form, the last form received is the one that will be processed and all previous forms received will be disregarded.
If instructions for both a switch (PreMixed or DIY) and an ASX200 trade are received in the same week, in the event of a public holiday or where specific shares or stock exchanges are susended from trading, delays may occur to implementing both the switch and the trade instructions.
The eligibility criteria for ASX trades are as follows:
- You must have a minimum account balance of $10,000.
- You can only invest up to 50% of your existing account balance in this option, subject to no single stock representing more than 20% of the total account balance. (Future contributions cannot be invested in this option.)
- You must invest the remainder of your account balance in one or a combination of the Fund’s other investment options.
The daily rates are used to calculate interest and determine your account balance when applying the eligibility criteria to your trade request. Interest is calculated using the rates from the day that settlement is completed on the Wednesday following.