Multiple investment options closing March 2021
Updated 2 February 2021
A number of investment options will be closing on 3 March 2021. Members are no longer able to switch into the closing options (from 2 February 2021).
If you are currently invested in one of these options, you were sent a Significant Event Notice explaining what you need to do ahead of the closures. We have also been calling and emailing members to ensure you’re aware of the change, what you need to do and advice available to you.
Which options are closing?
We will be closing nine investment options on 3 March 2021:
- Australian Small Companies
- Diversified Shares
- Emerging Markets Shares
- Global Listed Infrastructure
- Global Listed Property
- Hedged International Shares
- Passive Australian Shares
- Passive International Shares
- SmartPath – All age cohorts (Applicable to super members only)
Further information for SmartPath members can be found in the FAQ below.
Why are we closing these options?
We regularly review all our investment options to ensure members have access to market-leading products and that all our options best serve our members’ needs.
With this in mind, we believe that closing the options noted above is in the best interests of members because while these options have generally performed in line with or in excess of their investment objectives, these options have not – individually or as a whole – achieved the necessary scale required to deliver long-term cost and performance benefits to members.
By simplifying our investment menu, we can focus on the options that more than 99% of our members are invested in. This consolidation will also allow us to drive down fees and costs by generating economies of scale (i.e. having more money invested in less strategies, we reduce the investment cost per member and can negotiate harder with our managers on fees).
Media Super will continue to offer a diverse range of investment options, including pre-mixed and single asset class options, as well as the Direct Investment option. Using these options in isolation or in combination, could achieve a similar risk return profile to the closing investment options.
If you’re invested in a closing option
If you are invested in one of the closing options, you will need to update your investment choice before the options close. All switch requests must be received by Friday, 26 February 2021.
If you don’t make an investment switch by this date, you will be transferred into our default (Balanced) investment option. Please note, the Balanced option has a different risk and return objective to that of the closing options, which you should take into consideration.
Please see the FAQ below for further details.
Super members – You will need to update your investment choice for your current balance and/or future contributions and transfers.
Pension and TTR members – You will need to update your investment choice for your current balance and the draw down selection you have made in relation to how your pension/TTR payment is drawn from your investment option/s.
How to change your investment option
You can update your option in any of the following ways:
- Via your secure online account at mediasuper.com.au
- Head to the Investments page
- Select Edit to change your investment option/s
- Call our Super Helpline on 1800 640 886
- Complete the Investment choice form or Investment choice form – Pension (as appropriate) and return it to us.
Whichever way you choose, please remember that you must make your switch by 26 February 2021. Please take postage time into account if you are mailing back an investment choice form.
Choosing a new investment option
Everyone’s investment needs are different, and you need to carefully consider your options and choose the one that suits your needs.
You can find further information about investment options in the Investment section along with a handy guide to help you choose the right investment option to suit your needs.
We also have online tools to help you or you can speak with to our advice team.
You can use the ‘What type of investor are you’ questionnaire in your online account to help you figure out your risk profile. Your risk profile will then help you compare the available investment options in the Investment Guide so you can choose the option that suits your needs.
If you have any questions or you’re not quite sure, please call us before you make an investment switch.
The questionnaire is accessible in your secure online account, so you’ll need your member number and password.
Over the phone
Our team of Helpline Advisors and Financial Planners can help you to figure out which investment options suit your needs.
Helpline Advisors will take you through the process of figuring out your risk profile and discussing the investment options that suit your profile. There is no cost for advice provided by Helpline Advisors.
There is a few weeks wait time for advice appointments, so we recommend booking as soon as possible and no later than 3 February 2021.
If you’d like more comprehensive financial advice that takes your broader financial situation into account, you can speak to one of our Financial Planners. Please note, there is a cost associated with comprehensive advice; the initial consultation is at no cost and your planner will provide a quote before proceeding with any advice.
Please read the following FAQ for further information.
Frequently Asked Questions
What happens if I don’t make another choice?
As these investment options will be closing permanently, all members are required to be moved out of the option/s. If we don’t receive a direction from you by 26 February 2021, we are required to transfer you into our default Balanced option.
It should be noted that the Balanced option has a different risk and return objective to that of the closing options, which you should take into consideration.
What other options can I choose?
You should carefully consider the investment options available to you and select one that best suits your needs.
You can choose from the following range of diverse investment options:
- Indexed Balanced
- High Growth
- Moderate Growth
- Single asset class
- Australian Shares
- Overseas Shares
- Sustainable Future Shares
- Fixed Interest
- Direct Investment option
I’m invested in SmartPath, are there similar options?
SmartPath is a unique investment option that sees your asset allocation change over time, based on your age; your asset allocation automatically and gradually moved from a growth-oriented investment strategy to a balanced strategy.
Members invested in SmartPath should take particular note that any new investment options you select will not have this automatic asset change. Please take this into consideration when selecting one or more new investment options.
If you want to discuss choosing a new investment option to suit your needs, please call the Helpline on 1800 640 886 to arrange an appointment with our advice team.
Why are you transferring me into the Balanced option if I don’t make a choice?
Super members – As the options will be closing permanently, all members are required to be moved out of these options. If we don’t receive a direction from you, we are required to transfer you into our default Balanced option.
Pension members – As the options will be closing permanently, all members are required to be moved out of these options. As noted in the Pension PDS, if you do not make an investment selection, you’ll automatically be invested in the default investment option, which is our Balanced option.
Will management of the options change before they close?
No. All these options will continue to be managed and monitored according to their current investment objectives and strategy until they are formally closed.
We're here to help
If you have any questions about the investment option closures, how you're impacted, or would like to discuss your investment options, our team is here to help.