Member

Direct
investment option

30 September 2023
1
Contents
Welcome to the Member Direct investment option 5

Fees and costs 8

How your account works 10

Constructing your AustralianSuper portfolio 15

Member Direct platform 21

Tax and your investments 25

Getting started 29
The Member Direct investment
option offers you more control and
choice over the investment of your
super or retirement income.
About this guide Seek professional advice
For a complete picture of the investment Investments purchased through the Member
options available to you with AustralianSuper, Direct investment option form part of a self-
this guide should be read in conjunction directed investment strategy. Member Direct
with our Investment guide available at isn’t for everyone and risks can be very high.
australiansuper.com/InvestmentGuide As a direct investor, you need to be aware of
You should also read the Member Direct the risks and dangers involved, such as:
investment option terms and conditions • short-term share price volatility
available at • the consequences of trading too often
australiansuper.com/MemberDirectTCs • too little diversification, and
The information in this guide is current at • investing in response to your emotions.
the time of issue and is subject to change.
We strongly encourage you to seek advice
Any changes to information contained in
from a financial adviser before choosing the
this guide that is not materially adverse will
Member Direct investment option and
be made available online
formulating your investment strategy.
at australiansuper.com/MemberDirect
While we take care when selecting the
A Target Market Determination (TMD) is a
investments that are available through Member
document that outlines the target market a
Direct, we are not recommending them to you.
product has been designed for. Find the TMDs
Any opinions we may provide about Member
at australiansuper.com/tmd
Direct investments are not intended to influence
your decision-making regarding those investments.
For more information on your advice options1
with AustralianSuper call 1300 300 273 between
8am and 8pm (AEST/AEDT) weekdays or visit
australiansuper.com/advice

Personal financial product advice is provided under the Australian Financial Services Licence held by a third party and not
1

by AustralianSuper Pty Ltd. Fees may apply.

4
Welcome to the Member Direct
investment option
Through the Member Direct investment option you
can invest in shares, Exchange Traded Funds (ETFs),
Listed Investment Companies (LICs), Term Deposits
and cash through an easy-to-use online platform.

5
The Member Direct investment option is
AustralianSuper’s self-managed investment option
Other important conditions
that enables you to invest in shares, Exchange Traded Once you open a Member Direct account, you must
Funds (ETFs), Listed Investment Companies (LICs), keep some money invested in AustralianSuper’s other
Term Deposits and cash through an easy-to-use investment options at all times. This requirement will
online platform. You can combine your Member ensure there is sufficient balance to pay fees, insurance
Direct investment portfolio with AustralianSuper’s premiums and/or income payments to you.
other investment options to achieve your desired The minimum amount required is different for super
investment strategy. and Choice Income accounts.
You also get access to real-time trading, market
information, independent research and investment Minimum ongoing Minimum ongoing
tools to help you make informed investment decisions balance in PreMixed balance across all
Account
or DIY Mix investment investment options
and manage your portfolio. type
options (ie excluding (ie including
The Member Direct investment option may suit Member Direct) Member Direct)
members who want to be actively involved in managing
Super $5,000 $10,000
their investments.
$10,000 or 13 months
Choice
of income payments, $30,000
We may change or add to the selection of Income
whichever is greater
investments available through the Member Direct
option at any time without notice to you.
For the current Member Direct – investment menu, If you don’t meet the minimum ongoing balance
visit australiansuper.com/MemberDirect requirements you’ll need to re-balance and/or close
your account:
• if your total balance in PreMixed and DIY Mix options
(excluding Member Direct) falls below the minimum
Who can invest? ongoing requirement of:
To be eligible to invest in the Member Direct investment - $5,000 in super, or
option you must: - $
 10,000 or 13 months of income payments,
• be a current AustralianSuper member, and whichever is greater, in Choice Income,
• r egister for online access to your you will need to re-balance your investments.
AustralianSuper account, • if your total balance across all investment options
• h
 ave a minimum account balance, across all (ie in PreMixed, DIY Mix and Member Direct) falls
AustralianSuper investment options, as shown below: below the minimum ongoing requirements of $10,000
in super or $30,000 in Choice Income, you will need
Account type Minimum balance to close your Member Direct account and transfer any
remaining funds to your other investment options.
Super $10,000
Income payments for Choice Income members are
Choice Income $50,000 deducted from AustralianSuper’s other investment
options. You must keep enough money in your other
You can register for Member Direct using your investment options to cover 13 months of income
super and/or Choice Income account. The Member payments – this is called the Income payment reserve1.
Direct investment option is not available in TTR We will notify you if your balance is below this reserve.
Income accounts.
For more information please visit
australiansuper.com/MemberDirectTCs

Your Income payment reserve counts towards your minimum balance invested in other options. So for Choice Income members the minimum
1

balance to be invested in other investment options is $10,000, or your Income payment reserve, whichever is greater.

6
Features of the Member Direct A cost-effective alternative
investment option The Member Direct investment option offers a cost-
effective alternative to an ATO regulated Self Managed
Member Direct Super Fund (SMSF) for members who are interested
Features
investment option in the self-managed approach to saving for retirement.
It offers:
Homepage that can be customised
with market information relevant to you • C
 ontrol and flexibility: it enables you to tailor
your investment strategy by combining the shares,
Easy-to-use online investment ETFs, LICs, Term Deposits and cash you choose
platform that can be accessed via yourself with AustralianSuper’s other investment
the AustralianSuper mobile app
options that are managed for you.
Central Cash account with competitive • L
 ess paperwork: with the Member Direct option,
interest rate AustralianSuper takes care of all the administration,
compliance and reporting requirements, so you
Access to shares, ETFs, LICs, Term don’t have to.
Deposits and cash
• L
 ower costs: one of the major advantages of the
Member Direct option is that there are no set-up
Real time online trading charges and ongoing fees are lower compared to
a SMSF.
Live stock quotes and 20 minute
delayed market data To find out more about fees and costs for the Member
Direct option see page 8.
Dividend reinvestment plan Most recent data from the ATO shows that the smaller
the SMSF fund size, the greater the average operating
Participate in corporate actions such expense ratio (refer to table below).
as buybacks and share purchase plans
Average operating expense ratio and
Comprehensive company and market average return on assets by SMSF fund size
information
Average operating Average return
Fund size
Independent company research expense ratio2 on assests
and recommendations
$1 – $50,000 9.7% 1.8%

Investment tools including watchlists $50,001 – $100,000 3.6% 8.0%

$100,001 – $200,000 2.3% 10.4%

Investment education and tutorials
$200,001 – $500,000 1.3% 15.2%
Consolidated portfolio tax
and reporting $500,001 – $1 million 0.8% 17.2%

$1,000,001 – $2 million 0.5% 17.5%

Automatic Term Deposit
rollover options
$2,000,001 and higher 0.3% 18.3%3

Seamless transfer to Choice Income1 Source: ATO ‘Self-managed super funds: a statistical overview 2020-2021’.

1
This is referred to as Seamless Transfer. See page 27.
2
Operating expense ratio includes audit fees, management and administration expenses, supervisory levies and other deductions.
3
Fund size $2m–$5m: 18.3%, >$5m–$10m: 19.0% and >$10m: 21.5%.

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Fees and costs

The fees and costs that apply to Member Direct

vary depending on which option you select.

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The tables below set out the fees and costs that You should read all the important information
apply to each of the options within Member Direct. about fees and other costs because it is important
to understand their impact on your investment:
You will also pay administration fees and costs for your
account with AustralianSuper and fees and costs for • f or super accounts – visit australiansuper.com/
PreMixed and DIY Mix investment options managed FeesandCostsGuide
by AustralianSuper. • f or Choice Income accounts refer to Fees and other
costs in the relevant Product Disclosure Statement
available at australiansuper.com/pds

Assets you can invest Portfolio

Option Brokerage fee
in using this option administration fee1

Cash Account Cash $30 p.a. Nil

Term Deposits2 Cash and Term Deposits $120 p.a. Nil

If you buy and sell shares, ETFs

Cash and Term Deposits and
Shares, ETFs & LICs $180 p.a. and LICs, Brokerage fees will apply.
ASX 300 shares, ETFs and LICs
Refer to Brokerage fees below.

1
Your Portfolio administration fee is deducted directly from your Member Direct Cash account in arrears on the first business day of the following
month based on the number of days in the month. It is determined by the option you select and not by the type of assets you hold. If you no longer
hold the core asset type, you can reduce this fee by selecting a different option at any time via the platform.
2
If you redeem your Term Deposit(s) prior to their maturity date, penalties will apply. Refer to Term Deposit costs below.

Brokerage fees Other fees and costs for

When trading shares, ETFs and LICs. Brokerage fees ETFs and LICs
will apply to each trade as follows:
If you hold ETFs and LICs, underlying fees and costs
will be charged by the product issuer. Refer to the
Brokerage fee issuer’s website and relevant disclosure documents
Trade amount
(incl GST less RITC)
for the latest fee and cost information.

$0 to $13,000 $13.00

$13,001 + 0.10%
Seek professional advice
Brokerage fees are deducted directly from your Member Direct Cash We strongly encourage you to seek advice from
account when trades are settled. a financial adviser before choosing the Member
The Fund claims a Reduced Input Tax Credit (RITC) of 75% on the GST Direct investment option and formulating your
component of any Brokerage fees and passes the benefit on to you in
the form of a lower Brokerage fee deducted from your account
investment strategy.
(reflected in the amounts in the table above).
For more information on your advice options
with AustralianSuper call 1300 300 273 8am
to 8pm (AEST/AEDT) weekdays or visit
Term Deposit costs australiansuper.com/advice
If Term Deposits are redeemed prior to their maturity Personal financial product advice is provided
date, our effective rate of interest will be reduced under the Australian Financial Services Licence
depending on the time invested as follows: held by a third party and not by AustralianSuper
Pty Ltd. Some personal advice may attract a fee,
Time invested Interest rate reduction which would be outlined before any work is
(% of total term) completed and is subject to your agreement.
With your approval, the fee for advice relating to
0 to 50 50% your AustralianSuper account may be deducted
from your AustralianSuper account subject to
>50 20% eligibility criteria.

9
How your account works

You need to register to invest in shares, ETFs & LICs

and/or Term Deposits and/or the Cash Account.

10
Your Cash account All investment income such as interest and dividends
not being reinvested through a dividend reinvestment
To start investing in Member Direct, you need to register plan, proceeds from investment sales and cash transfers
and transfer a minimum of $400 into your Cash account. from your other AustralianSuper investment options are
You transfer the funds you want to invest in the deposited into your Cash account. Fees, tax payments
Member Direct option from your other AustralianSuper (if applicable), investment purchases and cash transfers
investment options but you must keep the specified to your other AustralianSuper investment options are
minimum amount in your other AustralianSuper deducted from your Cash account.
investment options (see Other important conditions For more information about dividend reinvestment
on page 6). plans, see page 13.
You can start investing once your funds are available Earn a competitive interest rate
in your Member Direct Cash account. You’ll need to
The Cash account offers a competitive interest rate.
make sure you have enough money to cover your
Interest is accrued daily and credited to your Cash
trade (including any brokerage). Member Direct
account monthly (in arrears). The Cash account interest
will automatically calculate and display your available
rate is subject to change at any time without notice to
cash when you start a transaction.
you – for current rates visit
australiansuper.com/MemberDirect

Your Cash account operates like an online bank account. You earn interest on the balance in your Cash account
and you can use the funds in it to invest in shares, ETFs, LICs and Term Deposits.

PreMixed DIY Mix

Managed for you Managed for you

Member Direct
Managed by you

Member Direct options

Cash Account Term Deposits Shares, ETFs & LICs

Cash account Cash account Cash account

To invest you will need to Term Deposits Term Deposits

make a cash transfer to the
Cash account.
Includes the Cash account Shares, ETFs & LICs
option plus you can also invest
in Term Deposits.
Includes the first two options
plus the ability to buy and sell
shares, ETFs and LICs.

Market news, information and research

All the options include access to market news, information and research. Eligible members
can choose to access this information without the need to open a Cash account.

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Transacting on Member Direct Trading in shares, ETFs and LICs
You can buy and sell shares, ETFs and LICs at any
Making cash transfers to and from the Cash account time during the ASX trading day. You can also check
You can transfer cash into the Member Direct Cash live stock prices on the order pad when you are placing
account once every business day. your trade.
You can also transfer cash from your Member You can place a buy or sell order for listed securities at
Direct Cash account into your other AustralianSuper the market price or set a price limit. An ‘at market’ order
options. How cash transfers are applied to your other will be placed at the current market price. When you
AustralianSuper investments depends on the type select ‘limit’ you can set the maximum price you are
of account you have. willing to pay for a security or the minimum price you
• S
 uper account: Cash transfers into the Member are willing to sell it for.
Direct option come out of your other investment Trades in shares, ETFs and LICs are executed
options according to how your existing account immediately. Member Direct will automatically check
balance is invested. Cash transfers out of the Member you have sufficient funds in your Cash account to settle
Direct investment option are invested according your trade. Your available cash and brokerage costs
to your investment choice for new contributions are displayed on the order pad where you place your
to your account. trade. The platform also checks your investment is
• C
 hoice Income account: Cash transfers in and within the minimum and maximum limits (see page 18)
out of the Member Direct investment option are before submitting your order to our broker to put to
withdrawn from or credited to your other investment market. We reserve the funds in your Cash account to
options in the same proportion as your existing cover the trade plus brokerage costs until your order
balance is invested. is either settled or cancelled.
Cash transfers are settled on a ‘T+2’ basis. This means Trades are settled on a ‘T+2’ basis. This means your
your transfer is settled on the second business day trade is settled on the second business day after it
after it is requested. Your cash will be available in your is requested. When you place a sale the funds will
account two business days after you make the request. immediately be included in your available balance.
The request cycle runs from 4pm AEST/AEDT This is known as a ‘good value’ transaction.
(Melbourne time) each business day until 3.59pm Changing your AustralianSuper investment choices
AEST/AEDT (Melbourne time) the following business
You cannot change how your balance is invested in
day. Requests placed on or after 4pm AEST/AEDT
PreMixed and DIY Mix investment options in Member
(Melbourne time) or on a weekend or public holiday,
Direct. You must do this by making an investment
will take an extra business day. A business day is any
switch through your AustralianSuper account.
day other than a weekend or public holiday (national
and the Victorian King’s Birthday holiday). We will only process one investment switch request
each business day. The request cycle runs from 4pm
You can view any pending cash transfers under the
AEST/AEDT (Melbourne time) each business day until
‘pending’ tab in the ‘Transact/Cash transfer’ section.
3.59pm AEST/AEDT (Melbourne time) the following
You can cancel a pending cash transfer request before
business day. If you place your investment switch
4pm AEST/AEDT (Melbourne time).
request before 4pm AEST/AEDT (Melbourne time) on
Investing in Term Deposits a business day your account will be invested in your
You can invest in Term Deposits once a week. If we new investment choice the next business day. Your
receive your request before 11.59pm AEST/AEDT new investment choice will appear in your account
(Melbourne time) on a Thursday your account will be the following business day.
invested on Friday (or the next business day if it is a Requests placed on or after 4pm AEST/AEDT
public holiday). If your request is received after this (Melbourne time) or on a weekend or public holiday,
time it will take effect from the following Friday. will take an extra business day. A business day is any
You can cancel your request at any time before 11.59pm day other than a weekend or public holiday (national
AEST/AEDT (Melbourne time) on Thursday. After this and the Victorian King’s Birthday holiday).
time your request cannot be cancelled. You can view You can’t make an investment switch and
any pending Term Deposit orders on Member Direct cash transfer at the same time
in the ‘invest’ page.
Different processing times will apply depending on
whether you make your investment switch or cash
transfer first.

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Making an investment switch first Dividend reinvestment plans
If you request an investment switch before 4pm A dividend reinvestment plan (DRP) automatically
AEST/AEDT (Melbourne time) on a business day you reinvests dividends to buy more shares or ETFs.
can place a cash transfer request after 4pm AEST/AEDT Alternatively, you can have your dividends paid into
(Melbourne time) on the next business day1. your Cash account as cash.
Making a cash transfer first You can choose to participate in a DRP for each stock
If you request a cash transfer before 4pm AEST/AEDT you hold that offers this option. The Member Direct
(Melbourne time) on a business day you can place an investment option gives you the flexibility to change
investment switch after 4pm AEST/AEDT (Melbourne your DRP preference at any time, for all stocks in your
time) on the same business day1. portfolio, or on a stock by stock basis.

Cancelling your request Reinvesting your dividends in shares, ETFs and LICs
If you want to cancel your pending investment switch under a DRP usually results in a small cash residual
or cash transfer request, you’ll need to do it before as entitlements are allocated as whole shares.
4pm AEST/AEDT (Melbourne time) on the business AustralianSuper pays any residual cash amounts and
day1 that you made the request. You can then place a associated franking credits into your Cash account.
new request. Depending upon the DRP election you have made,
Note: You will be unable to cancel a pending cash and the relevant DRP plan rules, changes in your listed
transfer if your cash transfer request from a previous security holding may affect the portion of your holding
request cycle is being processed. Please call participating in a DRP for any given dividend or
AustralianSuper for assistance. You are not able to distribution. You may wish to review your DRP election
cancel the initial cash transfer request you make to following any increase or decrease in your listed
register for Member Direct. security holding.

When is my investment switch or cash

transfer effective?
When you request an investment switch or a cash
transfer before 4pm AEST/AEDT (Melbourne time)
on a business day, your transfer will show in your
account two business days later. The investment
switch is invested the business day after the
request. The cash transfer is invested two business
days after the request.
To find out more about choosing or changing
your investment options in Member Direct visit
australiansuper.com/switching

Quick reference
Member Direct How often can When do I need to When is it When does it show
transactions I transact? place my request by? invested? in my account?

Cash transfers between

3.59pm AEST/AEDT
the Member Direct Second business day Second business day
Every business day2 (Melbourne time)
option and your other (T+2) (T+2)
on a business day
investment options

Investment switches 3.59pm AEST/AEDT

Next business day Second business day
between your other Every business day2 (Melbourne time)
(T+1) (T+2)
investment options on a business day

11.59pm AEST/AEDT 9am AEST/AEDT 6pm AEST/AEDT

Term Deposit orders Weekly (Melbourne time) (Melbourne time) (Melbourne time)
Thursday Friday Friday

Settlement occurs
Share, ETF and Anytime during
ASX close Immediately second business day
LIC trades ASX trading hours
(T+2)

A business day is any day other than a weekend or public holiday (national and the Victorian King’s Birthday holiday).
1

A cash transfer and an investment switch can’t both be requested within the same investment period.
2

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Corporate actions Share Buybacks
Share Buybacks are used by listed companies to return
A corporate action is an action taken by a publicly listed profits back to members by making an off-market
company relating to its securities. Frequently, corporate purchase of their individual shareholdings. The terms
actions provide investors with different options so that of the buyback can be quite attractive which is why
each investor can elect the option they believe is best they are popular with investors.
suited to their personal circumstances (an ‘elective’
corporate action). Other corporate actions simply occur When a Share Buyback is made available on the
(these are called ‘mandatory’ corporate actions). platform, members who own the affected security can
make an election to participate in the corporate action.
When a listed security you hold through the Member
Direct investment option is affected by an elective Share Purchase Plans (SPPs)
corporate action, AustralianSuper allows you to make SPPs are a funding mechanism for listed companies to
an election in relation to that action. raise money from existing shareholders by offering the
We will send you an alert through the platform and an option to purchase new shares quickly without need of
email with any actions that you need to take. You will a formal prospectus. They have a lot of appeal among
need to make your election through the platform before investors because the shares are typically offered at a
the cut-off date. The dates pertaining to the corporate discount to the current share price and often with no
action that you are provided may differ from any dates brokerage cost.
you see within the prospectus or other platforms. Refer to the Member Direct terms and conditions for
The platform aggregates all the applications made important information regarding SPPs on Member Direct.
by members who have elected to participate in the Examples of corporate actions that are not supported
corporate action and, through the custodian, submits through Member Direct are Voting at AGMs and EGMs,
as a single application to the company/registry. This can and Class Actions.
lead to differences in the way the platform may allocate
any entitlements that AustralianSuper receives through Voting at AGMs/EGMs
the corporate action compared to the treatment for Voting at Annual General and Extraordinary Meetings
a single individual investor outlined under the terms of is not available through the Member Direct investment
the corporate action and contained in the prospectus/ option. AustralianSuper retains voting rights for shares
booklet accompanying the offer. An example of this held in the Member Direct portfolio but does not vote
can occur when the corporate action is scaled back on any resolutions on behalf of these holdings.
due to high levels of investor demand.
Class Actions
Examples of corporate actions that are supported on the
Members are not able to participate in Class Actions
platform are Share Buybacks and Share Purchase Plans
directly, however AustralianSuper may participate
(SPPs).
in Class Actions on its own behalf or on behalf of
members at its sole discretion.

All investments in the AustralianSuper Member Direct investment option, including listed securities, Term
Deposit/s and cash will be registered in the name of JP Morgan Nominees Australia Limited, as custodian,
for AustralianSuper Pty Ltd as trustee of AustralianSuper. Consequently, members do not directly own the
investment in their own name which prevents them from being able to participate in certain corporate
actions such as Voting at Annual General and Extraordinary Meetings and Class Actions.

14
Constructing your
AustralianSuper portfolio
The right investment strategy for you will depend
on your investment objectives, risk profile and
personal circumstances.

15
The right investment strategy for you will depend on A professional financial adviser can help you decide
your investment objectives, risk profile and personal the right options for you.
circumstances. The level of control you want to have
When you invest in the Member Direct investment
over how and where your super is invested is also
option you must keep the specified minimum amount
an important consideration.
in one or more of AustralianSuper’s other investment
options. See Other important conditions on page 6.

Your AustralianSuper investment options

With AustralianSuper you can decide how hands-on you want to be with your investments.

Invest your own portfolio Build your own strategy Choose your option
Member Direct options DIY Mix options are single and leave it to us
include cash, Term Deposits, asset class portfolios. You PreMixed options are
Shares, ETFs and LICs, which choose how much you want diversified options that
you choose yourself. It offers to invest in each in a mix that invest across different
the most flexibility and can also include one or more combinations of asset classes
control of all AustralianSuper PreMixed options. such as shares, property,
options. infrastructure, fixed interest
We use a combination of
and cash.
internal and external
professional fund managers We use a combination
to manage your portfolio. of internal and external
professional fund managers
to manage your portfolio.

Please read this guide in conjunction with AustralianSuper’s Investment guide, available at
australiansuper.com/InvestmentGuide or the Choice Income Product Disclosure Statement,
available at australiansuper.com/pds

16
Super and retirement income Diversify
Investing in a range of securities, sectors and asset
are long-term investments classes spreads your risk and means you don’t have
Your investments will impact how much super you to rely on the returns of a few investments.
have and how long your savings will last in retirement. Different investments can perform better at different
Here are a few points to consider. times. By following a diversified strategy, your better
performing investments can help to offset your
Make a plan and stick to it
investments that aren’t performing so well. While
People who manage their own investments can
this strategy can reduce some of the highs, it can
sometimes become too emotionally involved in them.
also reduce the lows and provide more consistent
Emotions such as greed and fear can lead to investors
investment returns.
making irrational short-term decisions that have
negative results. It’s important for investors to Trading too often can be costly
remember that super is a long-term investment and While trading in real time is a flexible and convenient
saving vehicle for your retirement. A professional way to invest, trading too often can result in increased
financial adviser can help you develop a long-term brokerage costs and tax, which can impact long‑term
plan and stick to it. returns.
Understand the investment risks Invest for the long term
All styles of investment have a number of inherent risks, Actively trying to ‘time the market’ can be difficult.
which can change over time. Make sure you understand Investing over the long term could help even out
how different risks can impact your retirement savings short-term peaks and troughs in investment returns.
over different investment timeframes.
The balance between your level of comfort with risk
and your desire for returns is the key to selecting the
investments in your portfolio. For more information on
investment risks, read the Investment guide available
at australiansuper.com/InvestmentGuide or the Choice
Income Product Disclosure Statement, available at
australiansuper.com/pds

17
Investments in the Member Direct option
Shares, ETFs and LICs1 Term Deposits2 Cash2

Refer to the Member Refer to the Member

Direct – investment menu Direct – investment menu
Investments Cash account
at australiansuper.com/ at australiansuper.com/
MemberDirect MemberDirect

Shares – to maximise returns on To provide a fixed interest rate To provide a cash facility with
capital through stock dividends return over a fixed term. You a competitive interest rate.
and increases in share value. can view the current rates at Balances in the Cash account are
ETFs – to provide investors australiansuper.com/ not covered by the Government’s
with access to portfolios of MemberDirect Financial Claims Scheme (FCS).
securities that either meet You can view the current rates
or exceed a specific market at australiansuper.com/
index or indices. MemberDirect
Investment aim
LICs – to provide investors
with access to portfolios of
companies’ shares or bonds
to provide a steady stream
of income, and in the case of
shares, medium to long term
capital growth.

Investment Anytime during trading

Weekly Daily
frequency ASX hours

• M aximum 80% of your total • Minimum investment is $2,000 • Minimum balance of $400
AustralianSuper balance in • Maximum investment in a single
Shares, ETFs and LICs Term Deposit is $5 million
• For individual security
investment limits refer to the
Member Direct - investment
menu at australiansuper.com/
Investment limits
MemberDirect
• Minimum buy order is $1,500
• Maximum buy order is $250,000
• No minimum sell order
• Can’t buy and sell same security
on the same day

Estimated number
of negative annual Less than 0.5 in every 20 years Less than 0.5 in every 20 years
About 6 in every 20 years
returns over any
20-year period

For information about the risk levels associated with You can read more about how we calculate risk levels
these investments and the expected frequency of at australiansuper.com/RiskLevels
negative annual returns, please refer to the Investment
guide at australiansuper.com/InvestmentGuide or Investment menu
the Choice Income Product Disclosure Statement, The approved investments can change at any
available at australiansuper.com/pds time without notice to you. You can view the
current Member Direct – investment menu at
Risk levels are based on estimating the probability of australiansuper.com/MemberDirect
negative returns in the short term, or underperforming
inflation in the long term.

1
Risk measures are based on investment portfolios with broad market exposure to Australian shares, they may differ for the individual investments
you choose and your investment time frame. Risk for concentrated portfolios could be very high. The minimum suggested time frame for holding
a broad portfolio of shares, ETFs and LICs is at least 12 years.
2
Cash and Term Deposits are exposed to the creditworthiness of the issuer.

18
Shares Exchange Traded Funds
The Member Direct investment option includes The Member Direct investment option gives you
shares in the S&P/ASX 300 Index, which comprises access to a wide range of Exchange Traded Funds
the top 300 companies listed on the Australian (ETFs) from different providers. You can view the
Securities Exchange (ASX) by size (called market current Member Direct - investment menu at
capitalisation). This means you can access Australia’s australiansuper.com/MemberDirect
most well-known companies and some of the smaller
‘niche’ companies in a range of industries. The Index What are ETFs?
may also include trusts (which pay trust distributions ETFs are traded on an exchange like a stock but
rather than dividends). are structured like a traditional managed fund.
We may add other listed securities to the Investment ETFs provide a way to access a wide range of
menu at any time without notice to you. You can securities in Australian and international markets
view the shares in the S&P/ASX 300 Index on Member and different industry sectors without you having
Direct. You can view the approved list of investments to select the stocks yourself.
at australiansuper.com/MemberDirect
How ETFs work
Selecting stocks on Member Direct ETFs are generally constructed with reference to
With the Member Direct option you can research, select a specific market index or indices, like the S&P/ASX
and track stocks. Member Direct includes extensive Small Ordinaries Index. Passively managed or ‘index’
market and company research to help you analyse ETFs will hold similar securities and weightings to the
companies, and tools to keep track of your portfolio. relevant market index or indices, so it can closely
replicate the performance of the index or indices.
Features include: Other ETF managers will seek to outperform the
• y
 our portfolio details, including a consolidated relevant market index or indices through actively
view of your AustralianSuper investment options managing the portfolio of investments.
and asset allocation
Market participants ensure ETFs trade at prices
• share prices live and 20-minute delayed quotes that are closely aligned to the net asset value
• d
 ata and commentary from Australian of the underlying securities in the portfolio.
and international markets to local industries
and companies Like shares, you can buy and sell ETFs at any
time during the trading day through the Member
• independent analysis and recommendations Direct option.
for Australian companies
• w
 atchlists to keep an eye on the stocks you’re
interested in, and those already in your portfolio
• a
 ctions and alerts to let you know of corporate
actions, dividend announcements and other
important information.

Changes to stocks in the S&P/ASX 300 Index

The stocks included in the S&P/ASX 300 Index change
over time. If you own shares in a stock that has been
removed from the Index, you can retain the shares and
sell them at any time, but you will not be able to buy
more shares in that stock.
Occasionally AustralianSuper may exclude stocks
with certain structures – for example, a partially paid
security. Any exclusions will be noted on Member Direct.

19
Listed Investment Companies Term Deposits
The Member Direct investment option gives you access The Member Direct option offers a selection of Term
to a selection of Listed Investment Companies (LICs). Deposits from different issuers. You can view the
You can view the current Investment menu on Member current list of Term Deposits on Member Direct at
Direct and at australiansuper.com/MemberDirect australiansuper.com/MemberDirect

What are LICs? These investments have a locked-in term and interest
LICs are listed companies or trusts, that invest in other rate, which is accrued daily. The interest rate is
companies’ shares or bonds with the purpose of giving generally higher than a normal bank deposit interest
their investors exposure to a variety of shares or bonds rate. You can also automatically rollover your Term
through their investment portfolio. An investment in Deposit when it matures with same term and issuer
a single LIC can provide investors with an exposure or best rate options available.
to multiple underlying companies’ shares or bonds Interest rates
across a range of industries. The LIC manager seeks to
Term Deposit rates are reviewed each week and
outperform the relevant market index through actively
published on Member Direct.
managing the portfolio of investments.
You can also view the interest rate ranges at
How are ETFs and LICs different? australiansuper.com/MemberDirect
The primary difference between ETFs and LICs is Please note published interest rates are gross of tax.
that LICs are closed-ended funds with a fixed number
of issued shares or units, while ETFs are open-ended. The interest plus invested capital is credited to your
This means that unlike ETFs, LICs are not directly Member Direct Cash account at maturity. If you set
exposed to capital inflows or redemptions by investors. up an automatic Term Deposit re-investment, the net
Investors of LICs can buy and sell on the exchange proceeds from your maturing Term Deposit are first
without affecting the underlying portfolio. In contrast, credited to your Cash account and then invested in
ETFs are directly exposed to capital inflows and outflows. the next available Term Deposit.

Financial Claims Scheme

Term Deposits available through the Member Direct
investment option are not covered by the
Government’s Financial Claims Scheme (FCS).

Redeeming Term Deposits before maturity

You can only break your Term Deposit early if you are a
Choice Income member or you meet a superannuation
condition of release. For details of the conditions of
release visit australiansuper.com/AccessSuper
If you (or your beneficiaries) redeem your Term
Deposit(s) prior to the maturity date, the interest
rate will be reduced depending on the time invested.
Refer to Term Deposit costs on page 9.

20
Member Direct platform

You can buy and sell shares, ETFs and LICs in real time,
invest in Term Deposits and cash through an easy-to-use
online platform. Member Direct has the information and
tools to help you stay on top of your portfolio.

21
Cover stories
Cover stories is a newsfeed, where front page news and research are kept. It will form part of your Member
Direct homepage. The newsfeed contains articles that you’re able to customise from AustralianSuper, UBS
research and Morningstar Australasia.

Homepage Actions and alerts

This is the main menu on each page. Actions and alerts is your inbox where we
will communicate any corporate actions or
other important account information to you.

Portfolio drawer
A portfolio snapshot
on every page lets you
see all your balances
in AustralianSuper and
the Member Direct
option at a glance.
It consolidates your
Member Direct
investments and other
AustralianSuper
investment options
so you can view a
breakdown of your
entire portfolio.
To see your portfolio
in more detail, click on
your balance to open
the portfolio drawer.

Holdings table
Displays your individual
portfolio holdings in
detail along with the
current market price
and market movement.

22
Invest
In this section you can initiate transactions, view transaction histories and download reports.

Invest
You can select what you want to
invest in and initiate Cash transfers.

Settings
You can change your
personal details, DRP
preferences and change
what you want to invest in.

Manage my option
You can select how you
want to invest in Member
Direct (i.e. Cash account,
Term Deposits, Shares,
ETFs and LICs).

Reports
You can generate
reports that allow
you to track your
investments in Member
Direct and the fees
and expenses incurred
on your account.

Reports include:
1. Cash transaction report: 4. Fees and expenses report:
Details Cash account for a specific date range. Details fees and expenses such as administration
2. Dividend report: fees, brokerage and data services for a specified
Details dividends paid on your share portfolio date range.
for a specific date range. Includes unfranked 5. Unrealised capital gains and tax report:
and franked dividend income, franking credits, Details unrealised capital gains and capital losses
tax withheld and net dividend income. for your share portfolio for financial year periods.
3. Portfolio valuation report: 6. Capital gains disposal and tax report:
Breakdown of the current valuations of your Details realised capital gains and unused realised
cash, Term Deposits, Shares, ETFs, LICs and other capital losses on share sales for financial year
investment options. Also includes a consolidated periods.
valuation of your entire portfolio.

23
Explore
In this section you can discover and read content related to investments and create your own
customised information.

Member Direct includes:

UBS research and commentary which include: Morningstar commentary and data covering
• company reports Australian financial market summaries and
company news include:
• sector notes
• company significant events
• economic notes
• consensus estimates
• sales commentary.
• c
 urrent and historical share price movements,
Australian and global index data and foreign
exchange rates
• m
 arket gainers and losers, turnover, volume
and value.

By making this material available to members, AustralianSuper does not provide, endorse or otherwise
assume responsibility for the research. Without limitation, AustralianSuper does not provide, endorse or
otherwise assume responsibility for any recommendation or statement of opinion that may be included
in the material, and no part of the material is to be construed as a solicitation to buy or sell any stock.

24
Tax and your investments

Super is one of the most tax-effective forms of

investment, making it a great way to save for retirement.

25
How Member Direct
Here’s an example:
investments are taxed Jenny invests $10,000 in a Term Deposit with a
Super funds pay tax on the income and capital gains maturity term of three months (90 days) at an
they receive from their investments. The current tax rate interest rate of 5%. After 90 days she has earned
applied to a super account is 15%. If you have a Choice $123.29 in interest, which is taxed at 15%. Tax of
Income account, investment earnings are tax free. $18.49 is withheld from Jenny’s Cash account.
Super funds can also receive additional tax benefits Initial Term Deposit investment $10,000
through franking credits and capital gains concessions.
Interest $123.29
Tax on investment income
Tax withheld (at 15%) $18.49
The Member Direct investment option works a bit
differently to other AustralianSuper investment options Net income $104.80
where the earnings credited are net of any applicable
tax, meaning that an allowance for tax has already Sally makes the same investment, but she has a
been made. Choice Income account with a 0% tax rate. So no
Here is how tax on investment income is applied tax is withheld and Sally receives the full interest
to investments in Member Direct: payment of $123.29.
• C
 ash account and Term Deposits: your Cash account
and Term Deposits are interest bearing investments.
Capital gains tax
Tax is payable on interest income on an accruals basis
(daily as interest is earned). The Member Direct option Capital gains (or losses) refer to the difference in the
will accrue the tax payable on any interest accrued in value of an asset when you buy and sell it. As a guide,
the value of an interest bearing investment and will your capital gains that are subject to capital gains tax
withhold the applicable tax from the interest income (CGT) is determined by adding the total of all your
paid into your Cash account. capital gains for the income year, then deducting your
total capital losses including any net realised capital
• S
 hares and LICs (excluding trusts): tax is payable losses carried forward from previous years.
on dividend income upon receipt and will be withheld
when the dividend is paid into your Cash account. CGT on superannuation investments like direct shares,
In the case of dividend reinvestment plans (DRPs), ETFs and LICs is 15% for those assets held for less than
tax will be deducted from your Cash account when 12 months. CGT concessions will apply to assets held
any applicable shares are allotted to your portfolio. for more than 12 months (those gains will effectively
• T
 rusts (including ETFs): tax is payable on trust be taxed at 10%).
distributions on a present entitlement or attribution Member Direct calculates the net CGT liability daily
basis. Tax will be withheld when the distribution is using a year-to-date position. This will accrue within
paid into your Cash account. Where estimated your portfolio valuation. A physical deduction or refund
distribution components are received, tax will be for CGT on realised net capital gains or losses will be
withheld from the taxable components. Where no made each quarter and will occur within seven days
estimates are received, tax will be withheld from the of the following dates: 30 September, 31 December,
total distribution received. When final distribution 31 March and 30 June.
components are received, a ‘true-up’ tax calculation
will be performed (see page 27) and appropriate The quarterly CGT provision will take into account any
adjustments to the tax cost base of the investment realised capital gains or losses since the previous period
will be made if applicable. and recalculate the financial year to date CGT asset/
liability. This may result in a credit or debit to your
Cash account.
Member Direct will also calculate any CGT on your
unrealised net capital gains or losses daily to include
the resulting tax asset or liability within your portfolio
valuation. This calculation will include any unutilised
realised capital losses.

26
‘True-up’ tax calculation Seamless Transfer to Choice Income
Your final tax liability for your Member Direct
investments will be calculated, and any adjustments Members can keep their Member Direct investments
made, effective 31 December for the previous tax year. when they transition from super to retirement by
This allows adequate time for any ETF distribution requesting a Seamless Transfer to Choice Income.
information to be received from the issuers that might This means you don’t need to sell-down and re-purchase
otherwise have been unavailable at the time the your investments, avoiding transaction costs and market
distribution was received. risk. More importantly, by using Seamless Transfer, you
do not trigger a capital gains tax (CGT) event on any
Tax benefits of investing in the shares, ETFs and LICs.
Member Direct option
Although realised net capital gains on listed securities Important information about Seamless Transfer
must be taxed each year, realised net capital losses • To request a Seamless Transfer from your super
can be carried forward, to be offset against future account to Choice Income, you need to hold Term
capital gains. Deposits and/or Shares, ETFs and LICs. If you only
hold funds in your Cash account, you cannot request
Tax alerts on sell orders a Seamless Transfer.
The Member Direct investment option alerts you to • S
 eamless Transfer does not realise any capital gains
the potential tax impact of your trade before you place or losses. When you Seamless Transfer, any unused
it so you can make more informed investment decisions. realised or unrealised capital losses will no longer be
You will know upfront: useable to offset future realised capital gains in Choice
• if the 45 day rule is likely to be triggered and you could Income. Any unrealized capital gains liability will be
lose your associated franking credits (see page 28) reduced to zero which could increase the value of
your portfolio.
• your year to date capital gains tax position
• Y
 ou won’t have access to trade, or be able to monitor
• t he capital gains tax impact of selling the listed
investments while they’re being transferred. The
security. This way you will know if you’ve held it for
process to open a new Choice Income account and
less than 12 months and will pay more tax.
to transfer your Member Direct account can take
Closing your account up to 14 business days. You’ll receive an email
If you want to close your Member Direct account you confirmation when the transfer is complete.
will need to sell any listed securities and break any Term • S
 eamless Transfer cannot commence when certain
Deposits you currently hold. types of corporate actions are pending.
• L
 imit orders must be completed or cancelled before
Viewing your tax position
requesting a Seamless Transfer.
Member Direct includes comprehensive tax information
• S
 eamless Transfer can only take place after your
and reporting, so you always know where you stand.
Choice Income account is set up. Your new Choice
Interest income, including dividends, is paid into your
Income account won’t start until all funds have been
Cash account net of tax. This is included in the accrued
received (no earnings apply on money during the
interest (net of tax) amount in the portfolio detail/
transfer process and market movements may occur
transaction account section.
during this period).
You can also view tax details by downloading • T
 ax is payable on accrued interest for any Term
reports. See page 23 for how to download reports Deposits held up to the date of the transfer. This will
from your account. be deducted from your super Cash account prior to
the transfer. You must have sufficient funds in your
super Cash account to pay for any tax due prior to the
How do I make a Seamless Transfer?
transfer being completed. Any automatic Term Deposit
1. Read the Choice Income Product Disclosure rollover selections you have made in your super
Statement at australiansuper.com/pds account will be cancelled and you will need to reselect
2. Download the Seamless Transfer of your Member these in your Choice Income account when the transfer
Direct account form to open a Choice Income is complete. The principal and interest earned for the
account, from australiansuper.com/forms full term will be paid into your Choice Income Cash
3. Complete the form and submit by post or email. Account when the Term deposit matures.
Return details are on the last page of the form. • F
 unds in your Cash Account will be transferred net of
any fees and tax.
• M
 inimum balance requirements on the Cash account
and investment limits on balances and trades will
continue to apply after Seamless Transfer is completed.
Certain restrictions may apply. Refer to terms and
conditions at australiansuper.com/MemberDirectTCs

27
Franking credits
Franking adds to Jack’s super return
Shares can provide tax benefits to shareholders in
Here’s an example of franking adding to
the form of franking credits (also known as imputation
investment returns
credits). Franking credits are attached to dividends
Jack holds 10,000 shares and receives a fully
and apply to the amount of tax a company has paid
franked dividend of 4.5 cents per share, which
on its profits. Australian companies generally pay tax
is equal to a cash dividend of $450.
at a rate of 30%, which is the maximum franking
credit investors can receive. Members must hold The total taxable income, which equals the cash
shares for 45 days (excluding the day of purchase or dividend amount plus the franking credit, is taxed
sale) to qualify for franking credits. at 15% resulting in $96.43 being withheld from the
dividend paid into Jack’s Cash account. A total
Super funds pay a maximum tax rate of 15% on
of $546.43 (net dividend income) is paid into
investment income received. The tax payable on
Jack’s Cash account – almost $100 more than
dividends received are adjusted for any franking
the cash dividend.
credits attached to them. The franking credits are
credited back to your account and tax is calculated George holds the same shares and receives the
on the adjusted amount. This adds to your net same fully franked dividend. Because George has
investment returns. a Choice Income account, his investment earnings
are tax free. The full amount of $642.86 is paid
into George’s Cash account.

Shareholding 10,000 shares

Dividend amount (per share) 0.045

Franking 100%

Cash dividend amount $450.00

Franking credit applicable $192.86

Taxable income $642.86 $642.86

Tax withheld @ 15% $96.43

Net dividend income $546.43

28
Getting started

Getting started in Member Direct is easy

and will give you greater control and choice
over your investments.

29
Get started
Quick reference
1. Make sure you meet the eligibility criteria. • The minimum ongoing AustralianSuper balance
2. If you haven’t already, register to access requirerments to keep your Member Direct
your account online at australiansuper.com account open are $10,000 in super, or $30,000
3. Log in to your account, under ‘Investments/Manage in Choice Income.
Investments’ locate the Member Direct section and • Y
 ou must keep the specified minimum amount
click on ‘Access Member Direct Platform’ which will invested in AustralianSuper’s other investment
direct you to a new window. options and $400 in your Member Direct Cash
4. Read and accept the terms and conditions to access account at all times.
the Member Direct platform. • A
 maximum of 80% of your total AustralianSuper
5. You will be automatically defaulted into the Content account balance can be invested in shares
option which allows you to view market data, news and ETFs.
and research. • T
 he maximum you can invest in any one listed
6. To invest you will need to upgrade your account security is 20% of your total AustralianSuper
which you can do under ‘Settings/Manage my option’. account balance (different limits may apply to
some ETFs).
7. Select which option you wish to use – either Cash,
Term Deposits or Shares, ETFs & LICs. • T
 he minimum buy trade for shares, ETFs and
LICs is $1,500 and the maximum is $250,000.
8. You will then be prompted to make a cash transfer of The minimum buy order for Term Deposits is
the amount you wish to invest. You can start investing $2,000.
once the money appears in your Cash account (we’ll
• T
 he maximum amount you can invest in a single
send you an email to let you know it’s arrived).
Term Deposit is $5 million.
Eligibility criteria • Y
 ou cannot buy and sell the same security on
To be eligible for Member Direct, you must: the same day.
• b
 e an AustralianSuper member with $10,000 or • V
 iew the Member Direct – investment menu at
more in your super account or $50,000 or more australiansuper.com/MemberDirect
in your Choice Income account
• h
 ave access to the internet and a current email
address
• read and accept the terms and conditions.

Read the terms and conditions

You can view the terms and conditions for
the Member Direct investment option at
australiansuper.com/MemberDirectTCs

30
Access your Member Direct
account on the go
You can now access your Member Direct account
via the AustralianSuper app, without the need to log
in separately. To register and set up your Member
Direct account, see Get started on page 30.
Once you have registered for Member Direct:
1. D
 ownload the AustralianSuper app from App Store
or Google Play.
2. U
 sing the AustralianSuper app, log into your
AustralianSuper account with your username
and password.
3. A
 ccess your Member Direct account by clicking
on the ‘Access Member Direct’ button at the
bottom of your screen.

Apple and the Apple logo are trademarks of Apple Inc., registered in
the U.S. and other countries. App Store is a service mark of Apple Inc.
Google Play and the Google Play logo are trademarks of Google Inc.

31
Glossary
Actions and alerts Cash transfer Franking credit
Your Member Direct inbox is where A transfer of money between the Tax credits that are passed on to
we will communicate any corporate Member Direct investment option shareholders who have received
actions or other important account and your other AustralianSuper franked dividends in relation to their
information to you. investment options. shareholdings. Also called an
imputation credit.
Asset allocation Choice Income account
The process of combining different This account is for (eligible) members Income payment reserve
types of assets in selected who draw down their accumulated The Income payment reserve is the
proportions to build a portfolio. super savings through a complying minimum amount you must keep
retirement income stream. in your AustralianSuper investment
Available cash options outside of Member Direct
The amount of cash available Corporate actions to cover future retirement income
to invest in your Member Direct An action taken by a publicly listed payments. If your balance is below
Cash account. company relating to its securities. this amount you can’t transfer more
You will be notified of any corporate money into Member Direct or invest
Brokerage actions that impact your portfolio in Term Deposits.
A fee charged by a broker for the in the Actions and alerts box on
execution of a transaction, such as Member Direct. Elective corporate Index
buying or selling listed securities; actions are actions you can choose An index measures the changes in
expressed as either a percentage to accept or reject while announced value of a market or sectors of a
of the total value of the transaction corporate actions do not require market. For example, the S&P/ASX
or a flat dollar figure. any action from you. 300 Index (see page 33).

Buy or sell order Dividend reinvestment plan Investment options

When you place a trade to buy or A dividend reinvestment plan The Member Direct option is
sell shares or ETFs. (DRP) automatically reinvests your one of AustralianSuper’s range
dividends into more shares rather of investment options, in which
Capital gains tax than providing them as a cash members can invest their
A tax on the increase in the capital payment. AustralianSuper account.
value of investments, payable when
the capital gain is realised (ie when Exchange Traded Fund Investment switch
the investment is sold). An Exchange Traded Fund (ETF) Where you move all, or part, of
is a managed fund that tracks a your account balance from one
Cash account market or sector index and, like AustralianSuper investment option
The online Cash account within the shares, is traded on a securities to another, excluding the Member
Member Direct investment option. exchange. Member Direct mostly Direct option.
You can use the funds in your Cash offers ETFs on its menu but there
account to invest in shares, ETFs may be other exchange traded
and Term Deposits. products (ETPs) such as exchange
traded commodities (ETCs) that
could be offered on the menu within
this category.

32
Listed Investment Company Reserved cash Stock quote
A Listed Investment Company (LIC) The amount of cash that is frozen in The latest market price of a
invests in other companies with your Member Direct Cash account share or security. Stock prices are
the purpose of giving its investors to maintain your minimum balance available ‘live’ via the trade order
exposure to a diversified portfolio and pay for securities purchased pad and with a 20 minute delay
of shares. Unlike an ETF that tracks that have yet to be completed on when you conduct a ‘stock quote’
a specific index, LICs are managed the market or placed with the issuer on Member Direct.
by full-time investment managers and any outstanding cash transfer
who seek to optimise the long-term requests and CGT liabilities. Super account
return on the investment portfolio. This account is for members who
Seamless Transfer to are building (or ‘accumulating’)
Maturity Choice Income their superannuation savings
The term of a fixed interest security, A transfer of your Member Direct through personal and employer
such as a Term Deposit. holdings in your super account to contributions in AustralianSuper.
a Choice Income account without
Other investment options having to sell and re-purchase Term Deposit
AustralianSuper’s other investment your assets. A deposit at a banking institution,
options outside of the Member which pays a set interest rate over
Direct investment option. These Sector a specified investment timeframe.
include PreMixed and DIY Mix A group of securities with similar
options that are professionally characteristics. Australian shares Trade
managed by AustralianSuper. are divided into different industry To buy or sell securities, including
sectors based on the Global shares and ETFs.
Platform Industry Classification Standard.
Where AustralianSuper members For example, clothing companies Watchlist
can buy and sell S&P/ASX 300 belong to the Consumer A model or mock portfolio of stocks
shares, ETFs, LICs and Discretionary sector. or ETFs that you create. Watchlists
Term Deposits. are useful for monitoring shares you
Standard & Poor’s ASX 300 might be interested in buying or
Portfolio administration fee Index (S&P/ASX 300 Index) those you already hold.
The Portfolio administration fee The S&P/ASX 300 Index is
is the fee charged to allow you to recognised as the industry standard 45 day rule
invest in Member Direct and varies for measuring the performance of The period members must hold
depending on the option selected. the top 300 companies in the shares for (excluding the day of
Australian share market. purchase or sale) to qualify for
franking credits.
Stock code
A unique code used to identify
companies listed on the Australian
Securities Exchange (ASX). Also
called an ‘ASX code’.

33
Notes

34
We’re here
to help
Call
1300 300 273
8am to 8pm AEST/AEDT weekdays
Visit
australiansuper.com/MemberDirect
Email
[email protected]

This guide has been prepared and issued on 30 September 2023 and is subject to change. This may include general financial
advice which doesn’t take into account your personal objectives, financial situation or needs. Before making a decision about
AustralianSuper, you should think about your financial requirements and refer to the relevant Product Disclosure Statement,
available at australiansuper.com/pds or by calling 1300 300 273. A Target Market Determination (TMD) is a document that
outlines the target market a product has been designed for. Find the TMDs at australiansuper.com/tmd
20783 09/23

AustralianSuper Pty Ltd ABN 94 006 457 987, AFSL 233788, Trustee of AustralianSuper ABN 65 714 394 898.
Reader’s Digest Most Trusted Brands – Superannuation category winner for 11 years running 2013–2023, according to research
conducted by independent research agency Catalyst Research. Awards and ratings are only one factor to be taken into account
when choosing a super fund.