MLC adds platform benefits
MLC has implemented fee savings and greater investment choice on its MasterKey Custom platform, effective from July 1.
Fund level pricing has been introduced in the ‘MasterKey Custom Self-Managed Super’ product, while an increased number of the Australian Stock Exchange (ASX) listed share options and hybrid securities have been made available through the MasterKey Custom Superannuation.
Head of investment services Anthony Waldron, said fund level pricing had been introduced by means of a change in the way MLC calculates its stepped administration fee percentages.
“We’re now charging the administration fee on the combined value of the entire self-managed super fund as opposed to individual member accounts,” Waldron said.
“This enhancement means that customers using our self-managed super service can benefit from potentially lower fees that can be accessed by the scale of combining more than one account together.”
In addition, MasterKey Custom Superannuation members will be able to buy listed securities from the Top 300 by market capitalisation of the ASX All Ordinaries, and access an extra 40 new listed fixed interest (hybrid) securities.
“The changes will provide wider investment choice and allow for a more sophisticated portfolio construction by members,” said Waldron.
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