Switching between PreMixed and DIY Mix options
Applications to switch between investment options (except ASX 200 requests), made during the week are processed after close of business the following Monday, and are effective from the next day. Transaction details will appear on your account from the Wednesday. Cut-off times apply for submitting your instructions for PreMixed or DIY Mix options are:
- Paper (written) applications - close of business Friday
- Online applications - midnight Sunday.
If more than one Investment Choice form or online instruction is received in the same week (including ASX 200 shares), the last instruction received by that week’s deadline is the one that will apply.
Example – when switches apply
- A switch request is made on Thursday 14 February to switch from 100% Balanced to 50% Balanced and 50% High Growth.
- The switch will be processed after close of business the following Monday and be effective from Tuesday 19 February.
- To process the switch, your account balance will
- be determined at the close of business Monday 18 February using the daily crediting rates for the Balanced option. The switch will show on your online account from Wednesday 20 February.
If instructions for both a switch and an ASX 200 trade are received in the same week, in the event of a public holiday or where specific shares or stock exchanges are suspended from trading, delays may occur in implementing both the switch and trade instructions.
Switching your future contributions
When you request a change to the option in which your future contributions are invested, this will take effect from the date the instruction is received by AustralianSuper.
Cancelling switches
To cancel a written switch instruction, you must call AustralianSuper on 1300 300 273 prior to 8pm (AEST) on Friday of the week in which AustralianSuper received the instruction.
To cancel an instruction submitted via MemberOnline, you must email AustralianSuper at asmic@superpartners.com.au by midnight Sunday or call prior to 8 pm Friday (AEST) of the week in which the instruction was submitted.
Cancellation of ASX200 transactions must be received by 1pm on Friday regardless of how the instruction was provided.
How your account balance is calculated when a switch is made
For information on how you account balance is calculated when you make a switch, see Calculating investment returns.
Buying or selling shares in the ASX 200 Shares option
Instructions to buy or sell shares are transacted 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
- An instruction to buy or sell shares is submitted before midnight on Sunday. It is transacted on Monday and settled on Wednesday.
- 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.
Multiple requests submitted
If more than one Investment Choice form or online instruction is submitted in the same week, the last Choice form or instruction received by that week’s deadline is the one that will be forwarded to the broker (currently Macquarie Equities Limited) for action. All previous instructions for that week will be disregarded.
You may cancel any instruction not yet processed, up until 1 pm Friday.
If instructions for both a switch and an ASX 200 trade are received in the same week, in the event of a public holiday or where specific shares or stock exchanges are suspended from trading, delays may occur in implementing both the switch and trade instructions.
Eligibility criteria for ASX trades
- 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, with 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.
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.
